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Corsa Coal Announces Results for Fourth Quarter and Full Year 2019

Coal News - Published on Tue, 31 Mar 2020

Image Source: Corsa Coal
Premium quality metallurgical coal producer Corsa Coal Corp has reported financial results for the three months and full year ended December 31, 2019. Net and comprehensive loss from continuing operations for the year ended December 31, 2019 was USD 0.5 million compared to income of USD 5.9 million for the year ended December 31, 2018. Total revenue from continuing operations for year ended December 31, 2019 was USD 230.9 million, compared to USD 265.9 million for the year ended December 31, 2018.

Low volatile metallurgical coal sales tons, comprised of "Company Produced" tons and "Value Added Services" purchased coal tons, were 440,086 in the fourth quarter 2019 compared to 372,313 in the fourth quarter 2018 and 1,551,882 for the full year 2019 compared to 1,385,229 for the full year 2018. In the fourth quarter 2019, Corsa sold a total of 68,879 "Sales and Trading" tons, which are treated as pass-through from a profitability perspective, compared to 94,212 tons in the fourth quarter 2018 and 281,471 for the full year 2019 compared to 486,876 for the full year 2018.

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Posted By : Yogender Pancholi on Tue, 31 Mar 2020
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