Coal Energy boosts coal output 25% m/m, still down 80% yoy

Coal Energy (CLE PW) boosted total coal production 25% m/m to 12.5 kt in January, though it remained lower 80% yoy. The company didn’t provide the breakdown of its output by product segments, as operations were still minimized due to the ongoing warfare in Donbas, where Coal Energy’s assets are located. In 7MFY15, total coal output plunged 89% yoy to 52.4 kt.

Roman Topolyuk: Coal Energy has demonstrated some progress in restoring operations, but the scope of coal production is too little so far to mitigate the going concern risks.