Poland-based coking coal producer Jastrzebska Spolka Weglowa SA (JSW) has announced its financial and operational results for the third quarter and the first nine months this year.
In the given quarter, the company reported a net loss of PLN 1.2 billion ($301.30 million) compared to a net profit of PLN 2.15 billion in the same period last year due to higher costs and lower revenue, while JSW’s net profit in the first nine months amounted to PLN 845.3 million ($212.24 million), compared to a net profit of PLN 6.39 billion in the same period last year. In the third quarter, JSW’s sales revenues decreased by 17.8 percent compared to the previous quarter to PLN 3.4 billion ($853.64 million), due to decreases in coking coal and coke prices.
The company’s EBITDA in the January-September period was PLN 3.85 billion ($966.63 million).
In the third quarter, JSW’s coal production was 3.43 million mt, including 2.8 million mt of coking coal, while its coke production amounted to 900,000 mt.
In the given quarter, the company’s coal sales to external buyers amounted to 2.1 million mt, up by 6.2 percent, while its coke sales decreased by 8.8 percent to 800,000 mt, both compared to the second quarter. During the given period, coking coal and coke prices decreased 20.7 percent and 20 percent, respectively, compared to the previous quarter.
