LW Bogdanka submitted the prospectus to the Polish Financial Supervision Commission (KNF)
Lubelski Węgiel „Bogdanka” S.A. is one of the leading manufactures in hard coal market in Poland. The company achieve its leading position in this sector as a result of achieved financial results, efficiency in the hard coal output as well as investment plans assuming the first working. The energetic coal sold by the Company is used mainly for the generation of electric and thermal energy as well as for cement production. Our customers are mainly the industrial companies, first of all those acting in the power industry and situated in east and northern – east Poland.
LW Bogdanka achieved mining output on the level of 25.000 tons of coal winning per 24 hours. In the year 2007 the revenue on sales of energetic coal constituted 92,87% of revenue achieved by Group LW Bogdanka (encompassing also Łęczyńska Energetyka, manufacturing and distributing thermal energy). Except of its essential activity, the Company is engaged in the production of building materials in the framework of mining waste utilization in Zakład Ceramiki Budowlanej „EkoKLINKIER”.
Thanks to its production volume during the first six months 2008, the Group LW Bogdanka achieved almost 7% share in the national hard coal market and 10,5% share in the national energetic coal market. The Group anticipates that as a result of the implementation of intended projects by the Company (availability of the new coal resources and commencement of output in Stefanów panel) it will be possible to increase the share of LW Bogdanka in hard coal market in Poland up to 12% in the year 2014...
In the year 2007 the revenue of the Company Lubelski Węgiel „Bogdanka” S.A. achieved the amount of 886,6 million PLN and net profit of 77,7 million PLN (consolidate results according to PSR).
The State Treasury being in possession of 97% of shares and votes is the principal shareholder of the Company.
„The hard coal was and will be a strategic raw material in our country. Bogdanka demonstrates that, in contrary to popular opinions, this business sector can be effective and profitable. We are in the possession of a proven and efficient model of action and a clear development strategy. I believe that the achievement of our goals will contribute to continuous increase of the goodwill of our Company. Having all these trumps in our hand we plan to meet our investor at the stock exchange next year" – announced Mr. Mirosław Taras, the President of Management of Lubelski Węgiel Bogdanka..