WARSAW: Polish coal miners posted an aggregate net loss of PLN 800.6 million in the first four months of 2015, worse than the PLN 452.4 million net loss in the prior-year period, industry restructuring agency ARP said citing preliminary data.
Gross result on sales also deteriorated: coal miners posted a PLN 773.5 million loss from PLN 567.1 million losses in the prior-year period. Coal output fell by 1.2 million tons y/y to 22.8 million tons in the period, including 18.7 million tons of steam coal (down 1.3 million tons year on year and 4.1 million tons of coking coal (up 100,000 tons y/y), the data showed.
Sales, in turn, grew to 22.9 million tons (up 600,000 tons y/y), but growth was only domestic. Coal exports were lower by 100,000 tons at 2.9 million tons. With falling prices and higher costs, miners sold each ton of coal with an average loss of PLN 34.73, compared to a loss of PLN 26.46 in the prior-year period, ARP said.
