Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.
Sector: Coal
RU_RASP
Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.
Shares: connector/market_inputs
| Period | Issues |
|---|---|
| 2023-06-30 H1 | ✓OK |
| 2023-12-31 FY | ✓OK |
| 2023-12-31 H2 | ✓OK |
| 2024-06-30 H1 | ✗Errors 3Warn 2 |
| 2024-12-31 FY | ⚠Warn 5 |
| 2024-12-31 H2 | ✗Errors 1Warn 1 |
| 2025-06-30 H1 | ✗Errors 2Warn 1 |
| 2025-12-31 FY | ⚠Warn 1 |
| 2025-12-31 H2 | ✗Errors 1Warn 1 |
Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.
| Date | Period | Status | RevenueB USD | Operating profitB USD | D&AB USD | EBITDAB USD | Net profitB USD | Operating CFB USD | Capex + M&AB USD | AssetsB USD | EquityB USD | ROE (annualized) | Net debtB USD | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025-12-31 | H2 2025 (6M) | OK | 0.8 y/y -17.5% | -0.6 y/y -1404.6% | 0.2 y/y 34.9% | -0.4 y/y -551.4% | -0.5 y/y -919.4% | 0.5 | -21.6 | 2.9 y/y -19.0% | 1.9 y/y -28.0% | -34.0% | -6.6 | Report (PDF) |
| 2025-06-30 | H1 2025 (6M) | OK | 0.8 y/y -33.2% | -0.3 y/y — | 0.2 y/y 24.2% | -0.1 y/y -693.2% | -0.2 y/y — | -0.2 | -0.1 | 3.3 y/y -6.5% | 2.4 y/y -10.3% | -18.1% | -4.9 | Report (PDF) |
| 2024-12-31 | H2 2024 (6M) | OK | 1.0 y/y -25.5% | 0.0 y/y -118.1% | 0.1 y/y -0.1% | 0.1 y/y -73.6% | -0.1 y/y -131.1% | 0.1 | -0.2 | 3.5 y/y -3.5% | 2.7 y/y -5.7% | -6.1% | -4.7 | Report (PDF) |
| 2024-06-30 | H1 2024 (6M) | OK | 1.3 y/y -3.7% | -0.1 y/y -127.2% | 0.1 y/y 20.2% | 0.0 y/y -94.8% | -0.1 y/y -135.6% | -0.1 | -0.2 | 3.5 y/y 3.6% | 2.7 y/y 1.8% | -8.3% | -19.4 | Report (PDF) |
| 2023-12-31 | H2 2023 (6M) | OK | 1.3 y/y — | 0.2 y/y — | 0.1 y/y — | 0.3 y/y — | 0.2 y/y — | 0.2 | -0.2 | 3.6 y/y — | 2.8 y/y — | 17.6% | -26.9 | Report (PDF) |
| 2023-06-30 | H1 2023 (6M) | OK | 1.3 y/y — | 0.4 y/y — | 0.1 y/y — | 0.5 y/y — | 0.3 y/y — | 0.2 | -0.2 | 3.4 y/y — | 2.7 y/y — | — | -26.1 | Report (PDF) |
Quarterly values ($ mln)
Year-over-year change
FCF ($ mln)
Net debt / cash ($ mln)
Current 245spot vs LTM +21%
The same staged build as the commodity players: revenue → costs → EBITDA → conservative EBITDA (min of the spot case and the spot/3-yr average) → target market cap at the current EV/EBITDA. Cash costs are indexed by RU inflation (~7%); a pure producer has no commodity cost driver to re-price.
USD/RUB: spot 72 vs LTM-avg 80 → ×0.90 (ruble stronger → less RUB revenue); applied to USD-priced commodities (RUB gold left as-is).
Upside (conservative): -90% · spot -90% · 3-yr -90%
How it is calculated — revenue → costs → EBITDA → conservative EBITDA → target market cap
| 1 · Reported baseline (latest FY) | |
| Revenue | 116.9 bln RUB |
| EBITDA | -38.9 bln RUB |
| Cash costs (revenue − EBITDA) | 155.8 bln RUB |
| 2 · Revenue projection | |
| Multiplier — spot | ×1.09 (+9%) |
| = Spot revenue | 126.9 bln RUB |
| Multiplier — 3-yr prices | ×1.06 (+6%) |
| = 3-yr-price revenue | 124.3 bln RUB |
| 3 · Cost projection (+ RU inflation ~5%) | |
| Cost multiplier | ×1.05 (+5%) |
| = Cash costs | 163.6 bln RUB |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | -36.7 bln RUB |
| = 3-yr-price EBITDA | -39.2 bln RUB |
| = Avg-scenario EBITDA (spot + 3-yr)/2 | -38.0 bln RUB |
| Conservative EBITDA = min(spot, avg(spot, 3-yr)) | -38.0 bln RUB |
| 5 · Valuation → target market cap | |
| EV/EBITDA (current) | 1.0x |
| Target EV = EV/EBITDA × conservative EBITDA | -38.0 bln RUB |
| Net debt | -6.6 bln RUB |
| Target market cap = EV − net debt | 0 mln RUB |
| Current market cap | 76.2 bln RUB |
Upside = target market cap ÷ current − 1 = -90%
Product prices — move vs the LTM average; the 'RUB' columns include the USD/RUB move.
| Commodity | Revenue share | Spot | LTM avg | $ vs LTM | RUB vs LTM (FX) | RUB 3-yr (FX) |
|---|---|---|---|---|---|---|
| Coking coal | 90% | 245.00 | 202.20 | +21% | +9% | +7% |
Dividends suspended (~4.4 yr without a payout)
The company has not paid a dividend for over 18 months — profit is going to capex or deleveraging (e.g. Nornickel, NLMK, RusHydro, FSK). The forecast payout is zeroed until distributions resume; profit and cash flow may still be healthy.
| 1 · Forecast dividend (per policy) | |
| Smoothed net profit (median YTD-ann./LTM/FY) | -53 bn RUB |
| Payout ratio | 19% |
| Free cash flow (FY, OCF − capex) — caps payout | -3 bn RUB |
| Recent actual dividend (3-yr median) | 28.00 ₽ |
| = Forecast dividend per share | 0.00 ₽ |
| 2 · Fair yield (spread to key rate) | |
| CBR key rate | 14.5% |
| = Fair dividend yield | 12.0% |
| 3 · Valuation → upside | |
| Current price | 113.00 ₽ |
| Forecast dividend yield | — |
| Fair price (dividend-based) | 0 ₽ |
Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.
No dividend rows found for this issuer.
Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)