SUEK gains from weak rouble.
Edited by Rhod Mackenzie / 2016-02-12 06:59:10
Finance Metals and mining Russia Russia mineral extraction Financial results SUEK Ratings Mechel Shares Russia Metals and Mining Coal Steel
Devaluation compensated for the fall in coal prices.
In 2015 SUEK of Andrey Melnichenko, the largest coal producer in Russia, due to falling prices on energy coal had reduced revenue by 20% - to $ 4 billion, Moody's unveiled. But the company, as well as other players in the industry, was supported the devaluation of the rouble, which allowed to keep the margin at 25%. This year will be harder because of rising costs and reduced demand in the world, and the sharp rise in prices is not expected.
