Mining licence for K-3 area and exploration licence for the Ostrów deposit granted to LW Bogdanka S.A.
Lubelski Węgiel BOGDANKA S.A., the most modern and effective hard coal mine in Poland, as well as the domestic leader on the power coal producers market, obtained the K-3 area mining licence and the Ostrów deposit exploration licence.
Lubelski Węgiel BOGDANKA S.A., the most advanced and effective hard coal mine in Poland and the leader in the domestic market for power coal producers, extracted 2.02 million tonnes of commercial coal in the second quarter of 2014. This result is comparable in amount to the one achieved in the same period last year when the extraction reached 2.05 million tonnes. Cumulatively in the first half of 2014 the Company extracted 4.25 million tonnes of commercial coal, which represents an increase of 4.2% as compared to the same period of the previous year.
The Lubelski Węgiel BOGDANKA Group showed in the first quarter of 2014 good results, in spite of difficult situation in the market. Revenue amounted to PLN 481.5 million (increase of 11.8%), EBITDA was PLN 174.1 million (increase of 0.9%) and EBIT was nearly PLN 86 million (decrease of 4.2%). The net profit reached PLN 62.6 million (decrease of 10.7%). Although decreased prices of coal affected profitability, the Company’s profitability ratios have remained at a level higher than average in the industry, which is shown for example by EBITDA margin of 36.2% after the first quarter.
Lubelski Węgiel BOGDANKA S.A. extracted 2.24 million tonnes of commercial coal in the first quarter of 2014. This exceeds the result achieved in the same period last year by 10.2% and represents an increase of 6.2% compared to the fourth quarter of 2013.
The Lubelski Węgiel BOGDANKA Group, with its Parent – Lubelski Węgiel BOGDANKA S.A., the most modern and efficient hard coal mine in Poland and domestic leader on the market of power coal producers, generated very good financial results in 2013. The revenue amounted to PLN 1.9 billion (up by 3.49%), EBITDA amounted to PLN 754.9 million (up by 9.42%), and EBIT – PLN 424.8 (up by 9.14%). Net profit reached the figure of PLN 329.7 million (up by 6.7%).