Financial results

Results for 2008

For the year 2008, OKD, a.s. (hereinafter, OKD or the Corporation) attained a profit of CZK 11.98 billion before tax and CZK 9.302 billion after tax, (all the financial data shown are in compliance with the International Financial Reporting Standards – IFRS/IAS).

 

The 2008 EBITDA amounted to CZK 16.4 billion.

 

The Corporation's total revenues in 2008 reached CZK 53.8 billion. The level of revenues from the sales of goods and products was mainly influenced by the positive coal and coke market price trends experienced during 2008.


The Corporation's mining district marketable output of coal in 2008 surpassed 12.2 million tons and a total of 12.5 million tons of bituminous coal were sold. The volume of coke sales reached 1.1 million tons.


The Corporation's investments in 2008 exceeded CZK 6 billion. For the greater part, they related to mining machinery and technology in the form of new acquisitions or upgrades. The Corporation invested heavily in development work associated with opening up the coal reserves in the Darkov, Karviná, Paskov, and ČSM Mines. Furthermore, the Corporation continued investing in cooling equipment, which has helped the microclimatic conditions improve at the mines' workplaces. Out of the total investment of CZK 6 billion, the investment amount of CZK 3.7 billion was financed through a non-monetary contribution of New World Resources N.V., the sole shareholder, to the Corporation’s basic capital under the POP 2010 Capital Project, which is focused on upgrading the mining excavation and driving technologies.


OKD's average headcount in 2008 was 15,090 core employees. The average monthly earnings in 2008 amounted to CZK 34,499 — up 18.4 % on the 2007 figure.

 

Labour productivity per employee derived from the Corporation's mining district marketable output was up 1.9% in 2008.

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