DTEK Energy coal mining falls 7% yoy in January
16 February 2018
The coal mines of DTEK Energy (DTEKUA) produced 1.76
mmt of raw coal in January 2018, Concorde Capital calculated based on
sector-wide data provided by the Energy Ministry on Feb. 15. This is 7.2% less
yoy (for like-to-like mines) and 12.5% less from December 2017. Total mining of
steam coal in Ukraine was 2.10 mmt in January, or 3.3% less yoy.
Alexander Paraschiy: January’s
production results hardly match the holding’s plan to boost coal mining 7.3% yoy in 2018.
Most likely, the holding will have to revise its mining plan downward as it may
face trouble in finding enough demand for its coal domestically. It has lost
its biggest external consumer, Centrenergo, which found another powerful
local supplier of steam coal. So far, we expect DTEK Energy will mine close to
23.0 mmt of raw coal in 2018 (flat yoy).
