Europe's largest coking coal producer Poland-based Jastrzebska Spolka Weglowa SA (JSW) has announced its unaudited financial results for 2017, registering a net profit of PLN 2.54 billion ($748.44 million) compared to a net profit of PLN 4.4 billion in 2016, while its sales revenues increased by 32 percent year on year to PLN 8.87 billion ($2.61 billion).
Meanwhile, in the given year, JSW produced 14.76 million mt of coal, including 10.67 million mt of coking coal. In the given quarter, the company’s coal sales to external customers declined by 13.2 percent year on year to 10.10 million mt.
According to company CEO Daniel Ozon, JSW’s growth-driven strategy designates the most important directions for the group’s organic development. Ambitious investment plans and innovative solutions enhancing efficiency will enable the company to ramp up the production of coking coal to 85 percent of total coal production in subsequent years while stabilizing coke production, and consequently enable it to generate optimum financial performance.