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 profit of PLN 2.15 billion ($476.1 million), despite the increasingly difficult market environment, while its EBITDA was PLN 2.91 billion ($644.43 million). JSW’s sales revenues in the third quarter totaled PLN 5.15 billion ($1.14 billion), down by 13.8 percent quarter on quarter, due to decreases in coking coal and coke prices.
In the first nine months, JSW’s net profit amounted to PLN 6.36 billion ($1.4 billion), compared to a net loss of PLN 62.76 million in the same period last year, while its EBITDA in the January-September period was PLN 8.73 billion ($1.93 billion).
In the third quarter, JSW’s coal production was 3.43 million mt, increasing by 0.8 percent, while its coke production amounted to 800,000 mt, down by 11.9 percent, both compared to the previous quarter. In the given period this year, the company’s coal sales totaled 3.49 million mt, down by 2.5 percent compared to the second quarter.
