Poland-based coking coal producer Jastrzebska Spolka Weglowa SA (JSW) has announced its financial and operational results for the second quarter and the first half this year.
In the given quarter, the company reported a net profit of PLN 2.36 billion ($500.6 million), up by 27.3 percent, while its EBITDA was PLN 3.88 billion ($823.23 million), increasing by 49.5 percent, both quarter on quarter. JSW’s sales revenues in the second quarter totaled PLN 5.97 billion ($1.26 billion), up by 21 percent quarter on quarter.
In the first half, JSW’s net profit amounted to PLN 4.2 billion ($891.09 million), compared to a net loss of PLN 330.5 million in the same period of last year, while its sales revenues totaled PLN 10.9 billion ($2.3 billion), up by 161.3 percent year on year amid higher coking coal and coal prices. The company’s EBITDA in the first half was PLN 5.82 billion ($1.2 billion), compared to PLN 255.9 million in the first half of last year, while its EBITDA margin increased to 53.4 percent from 6.1 percent recorded in the same period of the previous year.
In the second quarter, JSW’s coal production was 3.4 million mt, down by 9.7 percent compared to the previous quarter, and its coke production was 880,000 mt. In the given period this year, the company’s coal sales totaled 3.58 million mt, down by 11.7 percent, and its coke sales came to 820,000 mt, down by 12.0 percent, both compared to the first quarter.
In the first six months, the company’s coal production was 7.17 million mt, up by 4.8 percent, and its coke production was 1.76 million mt, down by 4.3 percent, both year on year.