Kopex with net loss of PLN 0.5 bln in Q4
11:59
Listed mining machinery producer Kopex posted a net loss of PLN 503.6 million in Q4 as the firm turned over PLN 430 mln in non-cash impairments, the company said in a report. Last year, Kopex had net a profit of PLN 16.55 million.
The company's operating loss amounted to PLN 448.27 million, versus a profit of PLN 21.63 million a year ago.
Consolidated revenues stood at PLN 224.14 million in Q4 2015, compared with PLN 360.97 million in Q4 2014.
The reported "large loss" should be "no surprise" considering the situation of the entire coal sector both domestically and globally, said CFO Krzysztof Zawadzki. Excluding write-offs, FY EBITDA would measure PLN 81 mln, he noted.
