Mechel’s power segment revenue from external customers in 3Q 2012 was USD 147.0 million or 5% of consolidated net revenue, a decrease of 15.8% compared with the segment’s revenue from external customers of USD 174.7 million or 6% of consolidated net revenue in Q2 2012.
The operating loss in the power segment in Q3 2012 amounted to USD 10.9 million or -4.2% of the segment’s revenue in the same period compared to an operating loss of USD 56.2 million or -19.5% of the total segment revenue in Q2 2012. The adjusted EBITDA in the power segment in Q3 2012 amounted to negative USD 6.6 million compared to the adjusted positive EBITDA of USD 0.3 million in Q2 2012. The adjusted EBITDA margin for the power segment in Q3 2012 amounted to -2.6% compared to 0.1% in Q2 2012. Depreciation and amortization in power segment in Q3 2012 decreased by 0.8% comparing with the Q2 2012 from USD 3.65 million to USD 3.62 million.
Power segment output and sales for 9 month 2012
Product name 9M”12 9M”11 Change
Electric power generation 3.097.211 2.330.384 9%
Heat power generation (Gcal) 5.409.167 4.304.525 13%
(Electric power generation in ‘000 KWH)
Mr Yuri Yampolsky CEO of Mechel-Energo OOO said that “In the Q3 the power division worked with a low season load and was preparing for the forthcoming winter period as planned. At the same time, production results are as planned and even exceed plans at some enterprises. Repairs and preparation for the winter are also complete. Financial results were typical for low season electricity and heat consumption and are generally on the level of the previous period.”
