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Poltava GOK Posts USD 56.3 mln In Net Income For Jan-Nov, Up 445% yoy.

Poltava GOK Posts USD 56.3 mln In Net Income For Jan-Nov, Up 445% yoy.

14 December 2008

The company?s (PGOK: BUY) sales grew 77.3% yoy for the period, to USD 351.3 mln. In 9M05 PGOK?s EBITDA surged 174.0% yoy, to USD 101.5 mln. However, Poltava GOK was down in 3Q05:

 

                                         1Q05                 2Q05              3Q05

Net Sales, USD mln            113.11               143.76              94.43

Net Income, USD mln         16.15                 41.10               (0.95)

 

Concorde Capital: We believe this dip in the company?s 3Q05 financials is temporary and is related to Poltava GOK?s process of switching from Eastern European to Asian markets.

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