Europe's largest coking coal producer Poland-based Jastrzebska Spolka Weglowa SA (JSW) has announced its financial results for the first quarter of the current year, reporting a net profit of PLN 757.9 million ($203.85 million), rising slightly from the preceding quarter. JSW's sales revenues increased by 14.5 percent quarter on quarter to PLN 2.51 billion ($675.26 million), as a result of the upswing in the average prices of coal and coke and the higher volume of coal sales in the given period. The company's EBITDA in the first quarter amounted to PLN 1.135 billion ($305.45 million), up 1.5 percent compared to the previous quarter.
JSW Poland's coal output in the first quarter this year amounted to 4.1 million mt, up by more than 18 percent, while its coal sales to external customers increased by 14 percent to 2.76 million mt, both on quarter-on-quarter basis.