UK Sibanthracite

As of September 2020, the main activity is consulting on commercial activities and management.

Performance indicators

2023: Revenue - 231.4 billion rubles

Sibanthracite Group, the world's largest producer and exporter of high-quality anthracite and metallurgical coal, ended 2023 with revenues of 231.4 billion rubles and a net profit of 30.8 billion rubles. This is stated in the reporting of the company's enterprises published in April 2024.

As Interfax notes with reference to the materials of Sibanthracite, the group does not publish consolidated statements and does not provide comparable data for 2022. At the end of 2021, Siberian Anthracite JSC earned 83 billion rubles in revenue and 23.1 billion rubles in net profit.

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The revenue of OOO Razrezny Vostochny (Novosibirsk Region) at the end of 2023 amounted to 81.43 billion rubles, net profit - 13.13 billion rubles. Kuzbass LLC "Cut Kiizassky," according to the financial statements, in 2023 recorded revenue of 65.27 billion rubles and net profit of 16.7 billion rubles.

According to the reports of Razrez Kolyvansky JSC (also part of the Sibanthracite group), the company's revenue in 2023 was halved: from 147.7 billion rubles in 2022 to 76 billion rubles in 2023. Net profit of the mine decreased from 14.2 billion rubles to 147 million rubles.

According to the Sibanthracite group, Verkhneteshsky Open Pit LLC (Kemerovo Region) produced the first million tons of coal in 2023. By 2026, according to the production plan, the enterprise should reach an annual production of 5 million tons. In 2023, the group acquired licenses for two more sites in Kuzbass - LLC Razrozd Kuznetsky Yuzhny and Razrozd Malinovsky.

As of the end of 2023, 25.5% of Sibkapital each belongs to Oleg Polyakov, co-owner of the large Russian engineering company NIPI NG Peton LLC, and businessman Alexei Fomenko.^[1]

History

2024: Sibanthracite left the owners of the Kiyzassky open pit coal enterprise with annual revenue of 65 billion rubles

At the end of May 2024, the coal mining giant Sibanthracite left the co-owners of a large Kuzbass coal mining asset - Kiyzassky Open Pit LLC. This is evidenced by the data of the Unified State Register of Legal Entities. Read more here.

2023: Bashkir Industrial Holding bought Sibanthracite

Bashkir Industrial Holding (BPH) acquired the Sibanthracite group. The latter announced this deal on November 15, 2023.

According to the press service of Sibanthracite, BPH acts as a long-term strategic investor interested in the intensive development of the Sibanthracite Group. The management of the coal company was transferred to the former team of top managers led by CEO Sergei Melnikov.

BPH acquired the Sibanthracite group

The shareholders of ELSI (controls the assets of Sibanthracite) decided to sell the enterprises of the Siberian division to the investor Bashkir Industrial Holding LLC in order to focus all resources on the development of the Elginsky coal complex, the sellers said in a statement. The sale of Sibanthracite will increase the capacity of the Pacific Railway from 30 million to 50 million tons of coal per year and grow the transshipment capacity of the Elga port to 50 million tons per year. ELSI will focus on the development of mining and processing of high-quality premium coking Elga coal.

By November 2023, Sibanthracite is Russia's largest producer of metallurgical coal. The Group owns Kolyvansky Open Pit and Vostochny Open Pit in the Novosibirsk Region and Kiizassky Open Pit and Verkhneteshsky Open Pit in the Kemerovo Region. In 2023, Sibanthracite acquired licenses for two more sites in Kuzbass - Kuznetsky Yuzhny Open Pit and Malinovsky Open Pit.

As Kommersant notes in the issue of November 15, 2023, the BPH company is unknown to the market. According to the SPARK-Interfax system, the owners of the holding are Oleg Polyakov (71%), Vanik Vanunts (20%) and Alla Zotova (9%). Oleg Polyakov is a co-owner of NIPI NG PETON LLC. This company is one of the largest players in the EPC project market in the oil and gas industry. Vanik Vanunz was a co-owner of Almaz Fertilizer, the newspaper reported^[2]

2022: Sergey Adonyev became a shareholder of Sibanthracite

In October 2022, Sergei Adonyev became a shareholder of Sibanthracite, control over which his long-time partner Albert Avdolyan bought for $1 billion. A year ago, Adonyev was cleared of fraud charges in the United States.

2021

Siban Holding bought Sibanthracite

At the end of October 2021, it became known about the sale of the Siban Holding company, which is 70% owned by Albert Avdolyan, 30% - by the former director of Sibanthracite Maxim Barsky.

The amount of the transaction was not disclosed. According to sources of RBC and Kommersant, it amounted to about $1 billion. The heirs of businessman Dmitry Bosov, who died as a result of suicide, will receive money from the sale of Sibanthracite in two tranches.

Sergey Grishunin, Managing Director of the NRA Rating Service, estimates Sibanthracite at $1.3-1.7 billion, taking into account a debt of $1.1 billion. He noted that by the end of 2021, Sibanthracite's pre-tax profit could amount to more than $800 million.

Siban Holding acquired Sibanthracite

Obviously, such high indicators were achieved thanks to unprecedented prices on the market and with a high probability that next year prices will be lower than the current levels, "he added in a conversation with RBC.

After the closing of the transaction, a new board of directors of the coal company was elected. It includes Albert Avdolyan, who is also the chairman of the board of directors of Elgaugl, and a number of representatives of its structures: General Director of the group Albert Avdolyan "A-Property" Irina Belyanova, General Director of Globaltek Rodion Treasure and General Director of Elgaugl Alexander Isaev. Seats on the board of directors were retained by Dmitry Aga, Maxim Barsky and Igor Makarov.

After Bosov's death, a struggle unfolded for his share in Alltek. Bosov's widow Katerina claimed 77% of the company and sued the rest of the entrepreneur's heirs, but in the end she was left completely without a share. Back in April 2021, Bosov's share was distributed into eight equal parts of 10.82% each between parents, four sons from the first two marriages, Katerina Bosov and their common daughter. However, at the beginning of the summer of 2021, the share of Bosov and her daughter at 21.6% turned out to be recorded on Alltek itself^[3]

A-Property was bought by Sibanthracite

On February 8, 2021, it became known that the heirs of businessman Dmitry Bosov, who committed suicide, were selling Sibanthracite. The deal was concluded with Albert Avdolyan's A-Property, the press service of the Alltek group, through which the late billionaire controlled the coal holding, said.

Alltek has signed an agreement with A-Property on the main terms of the sale of Sibanthracite, the press release says. The amount of the transaction and other conditions are not specified.

Two sources close to the management of Sibanthracite told RBC that A-Property offered more than $1 billion for the asset (taking into account the debts of Sibanthracite). Earlier, ACRA analysts estimated Sibanthracite at 80 billion rubles ($1.08 billion) with revenue for 2019 of 125.5 billion rubles.

A-Property acquired Sibanthracite for $1 billion

As noted in the press release, the agreement provides that long-term contracts will be signed with the top managers of Sibanthracite, including their participation in the company's share capital.

After the death of Dmitry Bosov, his widow Katerina Bosov re-registered half of his share in Alltek - (43.285 out of 86.57%). This fact was challenged in court - Bosov's mother and four sons from other marriages filed a lawsuit. On November 25, the Odintsovo City Court satisfied the claim, declaring the transfer of 43.285% of Alltek to Katerina illegal.

In February 2021, it became known that the Moscow Regional Court upheld this decision, rejecting the appeal of Katerina Bosov. After this decision, the entire share of Bosov in 86.57% should go to the hereditary mass. Katerina Bosov herself told the publication that she would challenge the decision of the Moscow Regional Court in the cassation instance.

Albert Avdolyan is a new player in the coal market, while he has already collected an impressive list of assets. Its holding includes YATEK (21% belongs to the supporting bank Rostec - Novikombank) and the largest coking coal deposit - Elginskoye.^[4]

Notes