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Press Releases / 2009 / First Half 2009 Earning Results 

First Half 2009 Earning Results


Amsterdam, 19 August 2009 – New World Resources N.V. (“NWR” or the “Company”), Central Europe’s leading hard coal producer, today announces its financial results for the six month period ended 30 June 2009.


• Consolidated revenues of EUR 539 million (EUR 484 million for continuing operations1)
• Coal production down by 17% and coke production down 40% year-on-year
• Sales recovered somewhat in June; increased orders in recent weeks
• 22% reduction in operating costs year-on-year
• EBITDA of EUR 82 million (EUR 76 million for continuing operationsi), reflecting significantly lower coal and coke prices and volumes
• Adjusted loss per A share of EUR (0.16)
• Unrestricted cash of EUR 392 million
• EUR 141 million ECA2 loan agreement signed for Phase II of POP 2010
• POP 2010 Phase I equipment delivered 117% average productivity increases and improved safety performance; Phase II proceeding to plan
• Continued improvement in safety with LTIFR3 in mining operations down 11%
• No interim dividend payment due to uncertain market

1 Excludes the Energy Trading Segment

2 Export Credit Agency

3 LTIFR represents the number of reportable injuries after three days of absence divided by total number of hours worked expressed in millions of hours

Full text of the Press Release:

NWR 1H09 Results Press Release (179 Kb PDF)

Detailed information is available in Investors Page

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