DTEK boosts March hard coal mining to all-time high

2018/4/19 12:18:28

Analyst: “March’s data again confirms the feasibility of DTEK Energy’s guidance to boost hard coal mining by 7.3% yoy to 24.6 mmt in 2018. We remain neutral on DTEKUA bonds.”


 

 

 

 

 

 

KYIV, Apr 19, 2018 - Ukraine’s leading coal and power holding DTEK Energy (DTEKUA) produced 2.12 mmt of raw coal in March 2018, Concorde Capital calculated based on sector-wide data provided by the Energy Ministry on April 17. This is 2.2% more yoy on a like-for-like basis and 2.3% more than February, on a daily average basis. In 1Q18, the company produced 5.76 mmt of hard coal, or 2.0% less yoy.

 

Ukraine’s total mining of steam coal was 6.74 mmt in 1Q18, or 1.3% more on a like-for-like basis, with DTEK’s share falling to 85% from 88% a year before.

 

Concorde analyst Alexander Paraschiy added: “March’s result is an all-time high for hard coal mining by DTEK and also the first time its monthly hard coal mining exceeded 2.1 mmt. Yet in terms of daily average output, the March result (68.5 kt) still lags the November 2017 record of 69.8 kt. The result was achieved by increased mining operations at its Bilozerska mine in late February as it has recently launched two new operational longwalls. March’s data again confirms the feasibility of DTEK Energy’s guidance to boost hard coal mining by 7.3% yoy to 24.6 mmt in 2018. We remain neutral on DTEKUA bonds.

 

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For more information, link here: www.concorde.ua 

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