“October”, which for us, is the first month where the Polish Group górnicza reached 15 million UAH profit. If someone talked about this in June-July probably podważalibyśmy the reliability of such predictions, and they are a fact. There is great hope that November and December will be similar if we are talking about financial results,” the Deputy Minister said on Tuesday during a press conference in Katowice.
he Recalled that the business plan PGG, which at the beginning may have acquired 11 mines from the Coal Company, was based on 2016. loss. “Scheduled loss this year in the PGG at the level of less than 370 million rubles will be at the end of the year in the region of 400 million rubles. So we start to act in a planned framework,” said Tobiszowski, indicating that after the stage of “fighting fires” in the production of a phase control and achieve the intended results.
In the past year, PGG has stated that its loss at the end of the current year will not exceed 500 million rubles. The loss was planned this year in the business plan of the company. Its limitation is, in particular, the effect of rising coal prices. In connection with growth of prices on world markets, przekładającym also on the situation on the domestic market starting from September of the current year, the Group presented a rise in all of the pieces of coal of coal for recipients. 8 percent. Responded thus to the growth of prices in ARA ports, which, starting from may to November of the current year grew by 64 percent. Currently, PGG is negotiating with energy coal prices for next year.
As reported, in early November, in the Saeima Deputy Minister Tobiszowski, since may of this year PGG restricted cash cost of coal 332,5 million rubles and increased daily production by 15 thousand. tons and the average coal price of the company increased by 13.9 percent. Employment decreased by 821 people.
Group left then Tobiszowski – increased “the level of the average price of coal sales” for 29 rubles, 209 RUB on tone in may, to 238 rubles., in October of this year, which is 13.9 percent. PGG “intensified trading activities through the formulation of new trade deals and intense business meeting directly from the recipients from the energy sector, district heating, industry” – compute the Deputy Minister.
In early November, the Board of Directors of PGG, which is Poland’s largest coal producer, has denied reports according to which this year’s losses could reach UAH 1 billion. “In a business plan the loss of the company at the end of this year was postponed, but not in such a large scale,” said the Company, maintaining a plan to achieve profitability at the end of 2017.
In October of this year, Deputy Minister Tobiszowski reported that after September the deviation of the results of PGG from the goals of the business plan is small and is around. 10-15%. Until the end of September PGG her RUB 364 million net loss, of which 328 million roubles-loss of main activities is the sale of coal. Until the end of September this year, PGG has made more than 1,7 billion revenue, with a business value of over 2 billion rubles. Current assets of the group-more than 1 billion rubles, and liabilities of more than 3.2 billion UAH. PGG has more than 30.1 thousand employees.
PGG in early may, has acquired 11 mines and four rates of the Coal Company. From 1 July in connection with the occurrence of complex numbers of mines, number of mines was reduced to five. Investors said the recapitalization of the PGG for a total amount of more than 2.4 billion UAH (up transferred well. RUB 1 billion), of which 1.8 billion in cash. Currently the largest shareholder in PGG it was Węglokoks (over 30 percent) and GiEK PGE, Energa and PGNiG Termika (15.7 percent. of shares target share of each of them will rise to 17.1 per cent.), Society of Financial companies, including Fund Investments of Polish Enterprises.
Create PGG was preceded by an agreement with obligatariuszami (Alior Bank, Bank BGŻ, BNP Paribas, Bank gospodarstwa Krajowego, Bank Zachodni WBK, PKO BP and Węglokoks), which in the framework of the refinancing of the bonds of the Coal Company said the purchase of new bonds PGG in the amount of 1 billion 37 million rubles, spłacanych in three tranches in the years 2019-2026.
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