Financial results

Results for 2009

For the year 2009, OKD, a.s. (hereinafter, OKD or the Corporation) attained a profit of CZK 1.3 billion before tax and CZK 938 million after tax, (all the financial data shown are in compliance with the International Financial Reporting Standards – IFRS/IAS).


The 2009 EBITDA amounted to CZK 5.96 billion.


The Corporation's total revenues in 2009 reached CZK 32.3 billion. The level of revenues from the sales of goods and products was influenced mainly by negative coal and coke market price trends experienced in 2009 and lower coal and coke sales volumes.

The Corporation's mining district marketable output of coal in 2009 surpassed 10.6 million tons and a total of 10.9 million tons of bituminous coal were sold. The volume of coke sales reached 0.7 million tons.

The Company’s capital expenditure reached CZK 5.9 billion in 2009. 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 Karviná, Darkov, ČSM and Paskov Mines. Furthermore, the Corporation continued investing in cooling equipment, which has helped the microclimatic conditions improve at the mines' workplaces.


Out of the total capital expenditure of CZK 5.9 billion, the amount of CZK 3.8 billion was financed via a non-monetary contribution of New World Resources N.V., the sole shareholder, to the Company’s capital equity under the POP 2010 Project focusing on the upgrade of longwall mining and development equipment sets.


OKD's average headcount in 2009 was 14,331 core employees. The average monthly earnings in 2009 amounted to CZK 29,936.


Labour productivity per employee based on the Company’s underground production decreased by 6.9% in 2009.