The share of unprofitable companies in the Russian coal sector exceeded 52%, a year earlier they were 2 times less

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The share of unprofitable coal companies in Russia has exceeded 50%, it follows from the published data of Rosstat. The last time such a drop was recorded was in 2020. The total profit of companies in the coal sector fell by almost 15 times compared to last year. 

According to Rosstat, in January-April 2024, 52.4% of companies in the Russian coal industry were unprofitable. The profit and loss balance of coal companies for the first four months of this year, according to the calculations of the publication, amounted to 14.3 billion rubles. The total profit of companies in the coal industry fell by almost 15 times compared to the same period last year. In 2023, more than 67.3% of coal sector companies were profitable.

This is largely due to the fact that the main buyers of Russian coal sharply reduced its imports due to poor logistics, which sharply increased the price per ton of fuel. Total coal exports from Russia in the first quarter of this year fell by 12% year-on-year, to 42.9 million tons. Shipments to India halved to 4.7 million tons, to Turkey almost doubled to 4.1 million tons, to China by 16% to 12.9 million tons. In January-June, Russian sea exports decreased by 17%, to 79.1 million tons
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