JSC for coal mining "Vorkutaugol" has published a message on the Federal Resource about its intention to file for bankruptcy of Mechel-Koks LLC (Chelyabinsk Coke Production Plant). Such data is contained in the KonturFocus information system.
The report says that Mechel-Koks LLC has signs of insolvency (bankruptcy), which is the basis for the introduction of a monitoring procedure and approval of an arbitration administrator for the debtor to carry out activities established by the law "On Bankruptcy" to satisfy creditors' claims.
Shortly before the appeal, the Arbitration Court of the Chelyabinsk Region rejected Mechel-Cox's appeal against the debt collection decision.
Vorkutaugol is engaged in coal mining and processing in the Far North. It is a part of the Russian Energy Group LLC. The main consumer of Vorkutaugol products is the Cherepovets Metallurgical Plant.
Chelyabinsk Coke Chemical Production Plant LLC (Mechel-Koks LLC) is a member of the Mechel Group, is an enterprise for the production of coke chemical products, which includes more than 10 workshops and divisions. The main product is metallurgical coke.
Mechel is a global mining and metallurgical company. The company's products are supplied to domestic and foreign markets. Mechel unites producers of coal, iron ore, steel, rolled products, ferroalloys, thermal and electric energy. All enterprises operate in a single production chain: from raw materials to high-value-added products.
Mechel's loss in 2024 amounted to 37.12 billion rubles against a profit of 22.32 billion rubles a year earlier. Revenue fell by 5% to 387.477 billion rubles from 405.88 billion rubles, operating profit — by 78% to 14.155 billion rubles from 64.848 billion rubles, EBITDA — by 35% to 55.9 billion rubles from 86.34 billion rubles.
Mechel Group does not disclose financial figures for individual enterprises, but according to the holding's consolidated financial statements, sales of coke and coke-chemical products in 2024 fell by 23.5% and amounted to 15 billion rubles.
According to the consolidated financial statements, the holding itself is in a difficult financial situation. As of December 31, 2024, the group's total liabilities exceeded its total assets by RUB 100 billion, and current liabilities exceeded current assets by RUB 231 billion. At the end of the year, the average rate on long-term loans received by the holding ranged between 22.5–24%, short-term - 22.5-26.7%. In 2024, the holding spent 40 billion rubles on repayment of interest on loans and borrowings.
