The Management Board of LW Bogdanka S.A. analyses the project of consolidation with NWR
Wednesday, 2010-10-06
Lubelski Węgiel BOGDANKA S.A., a market leader among Poland’s power coal manufacturers and one of the largest and most innovative hard coal mines in Poland, announces that today, on 6 October 2010, the Management Board of the Company has received the documentation on the project of consolidating New World Resources N.V. and LW Bogdanka S.A., as proposed by NWR in relation to NWR announcing a call for shares of LW Bogdanka S.A.
Financial forecast for 2010 – the Company’s historical records
Friday, 2010-10-01
Lubelski Węgiel BOGDANKA S.A., a leader of the Polish market for power coal producers and one of the largest and most advanced hard coal mines in Poland, forecasts that in 2010 the Group shall achieve much better results than previously expected.
The LW BOGDANKA Group predicts revenue on sales at a level of PLN 1,228 million (9.8% more as compared to the previous year), operating profit in the amount of PLN 242 million (6.7% more as compared to the previous year) and net profit in the amount of PLN 201 million (5.3% more than in 2009). The Company plans net commercial coal extraction at the level of nearly 9% higher than that in the previous year. The predicted results will be record-breaking in the LW BOGDANKA Group’s history.
The LW BOGDANKA Group predicts revenue on sales at a level of PLN 1,228 million (9.8% more as compared to the previous year), operating profit in the amount of PLN 242 million (6.7% more as compared to the previous year) and net profit in the amount of PLN 201 million (5.3% more than in 2009). The Company plans net commercial coal extraction at the level of nearly 9% higher than that in the previous year. The predicted results will be record-breaking in the LW BOGDANKA Group’s history.
Rapid growth in profit in the first half of 2009
Tuesday, 2009-09-01
LUBELSKI WĘGIEL BOGDANKA S.A.: RAPID GROWTH IN PROFIT IN THE FIRST HALF OF 2009; THE COMPANY CONFIRMS ITS FINANCIAL FORECASTS FOR 2009
Lubelski Węgiel Bogdanka S.A., one of the largest and most advanced hard coal mines in Poland and one of the leaders of the domestic market for power coal producers, recorded an increase in net profit of more than 60% in the first half of 2009, to PLN 83.5 mln. Operating profit in that period increased by almost 50% to PLN 104.5 mln. Revenue on sales increased by more than 5.4% to reach PLN 520.8 mln. The Company’s net margin also increased – after the first half of 2009 it reached 16%, compared to 10.5% in the first half of 2008.
LW Bogdanka submitted the prospectus to the Polish Financial Supervision Commission (KNF)
Friday, 2008-11-28
Lubelski Węgiel „Bogdanka” S.A. submitted the issue prospectus to the Polish Financial Supervision Commission (KNF). The purpose of the entry into the stock exchange is to obtain the funds for the modernization of existing technical infrastructure and creation of the new one in the framework of Stefanów Field in order to increase the coal output by 100% since 2014. The value of public offering of LW Bogdanka may reach 300 up to 600 million PLN and is intended in the first quarter 2009.. Dom Inwestycyjny of BRE Bank (offering), BRE Corporate Finance (financial consultant), White & Case W. Daniłowicz, W. Jurcewicz i Wspólnicy – Legal Office (legal advisor) and PricewaterhouseCoopers (expert auditor) are the consultants supporting the company in this process.
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Comments of LW „Bogdanka” concerning the announcement of CBA
Monday, 2008-11-24
The inspection executed by CBA (Central Anticorruption Bureau) in LW „Bogdanka” resulting in the notification of committed crime to District Prosecutor’s Office in Lublin, confirmed the previous knowledge of the Company about the irregularities associated with the forwarding contracts on coal transportation concluded and performed by the Company in the year 2002 .
This case has been encompassed by the inspection proceedings continued in the Company since several years (2003) by ABW, CBŚ and NIK and supervised by the Prosecutor’s Offices in Lublin and in Łódź. In connection with this case also the criminal proceedings are continued in the Court Łódź since 2006 versus a former member of the Management of the Company prosecuted by the District Prosecutor’s Office in Łódź
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This case has been encompassed by the inspection proceedings continued in the Company since several years (2003) by ABW, CBŚ and NIK and supervised by the Prosecutor’s Offices in Lublin and in Łódź. In connection with this case also the criminal proceedings are continued in the Court Łódź since 2006 versus a former member of the Management of the Company prosecuted by the District Prosecutor’s Office in Łódź