SUEK publishes 1Q21 operating results

Sales of coal and other energy products in January – March 2021 (1Q21) amounted to 31.9 million t. International shipments increased by 11% to 13.9 million t, supported by the recovered demand in the context of a cold winter and economic revival as quarantine measures started to weaken. The main international customers were South Korea, China, Japan, Taiwan, the Netherlands, Germany, Poland, Morocco, India, Vietnam, and Malaysia.

Coal sales to the Russian market rose by 13 % to 18 million t, of which 10.8 million t were shipped intragroup, to the power plants of Siberian Generating Company (SGC). The increase in sales was triggered by expanded scale of operations of SGC following acquisitions and robust demand amid a colder winter.

In 1Q21, SGC's generating assets produced 21.6 billion kWh of electricity and 21 million G?al of heat. Electricity generation rose by 15% y/y after purchasing the Reftinskaya GRES, Primorskaya GRES and Krasnoyarskaya GRES-2, while heat generation increased by 25% because of the lower average ambient temperature in 2021 compared to 1Q20.

In 1Q21, National Transportation Company (NTC) transported 23 million t of cargo. The operator's traffic grew by 7.5% y/y. From January to March, the company dispatched 640 heavy trains towards the ports of Vanino (Khabarovsk region), Nakhodka (Primorye), Murmansk and Taman.

Transhipment in NTC's ports in 1Q21 amounted to 13.6 million t, with coal, iron ore, fertilisers, and apatite concentrate being the main cargo types. In total, transhipment exceeded last year's figure by 8.4%. The growth was facilitated by additional cargo traffic and better interaction with Russian Railways.

Read the article online at: https://www.worldcoal.com/coal/02062021/suek-publishes-1q21-operating-results/