NEW YORK SunCoke Energy
Partners LPs fourth-quarter net income more than doubled
to $15.3 million from $7.3 million a year earlier thanks to
contributions from its Middletown, Ohio, coke facility.
The newly formed master limited
partnershipa subsidiary of Lisle, Ill.-based SunCoke
Energy Inc.posted full-year net income of $56.8 million,
up from $30.8 million in 2011. SunCoke Energy Partners owns a
65-percent interest in each of SunCoke Energys Haverhill
and Middletown cokemaking facilities in Ohio.
The financial results are for
periods prior to SunCoke Energy Partners Jan. 24 initial
public offering of 13.5 million common units, representing a
42.1-percent partner interest. The results were presented on a
combined basis, including the 35-percent interest in the
Haverhill and Middletown facilities owned by SunCoke.
"Our strong fourth-quarter and
full-year performance was driven by our new Middletown
facility, which began operations in October 2011," said Fritz
Henderson, chairman and chief executive officer of SunCoke
Energy Partners. "The success of the Middletown startup and the
sustained solid results at Haverhill reflect our continued
focus on the disciplined and reliable operation of cokemaking
Fourth-quarter revenue increased
32.9 percent to $186.2 million from $140.1 million in the same
period a year earlier, while full-year revenue jumped 64.6
percent to $740.2 million from $449.8 million in 2011.
SunCoke, through its
subsidiaries, owns a 55.9-percent partner interest in SunCoke
A version of this article was first published by AMM sister
publication Steel First.