Poland’s JSW sees record net profit in 2022 despite unfavorable market

Thursday, 23 March 2023 11:37:42 (GMT+3)   |   Istanbul
       

Poland-based coking coal producer Jastrzebska Spolka Weglowa SA (JSW) has announced its financial and operational results for 2022.

In the given year, the company reported a net profit of PLN 7.6 billion ($1.77 billion), despite unfavorable market conditions, recording the best result in its history. In 2022, JSW’s total sales revenues increased by 90.5 percent year on year to PLN 20.2 billion ($4.71 billion) due to higher coking coal and coke prices, while its EBITDA was PLN 10.6 billion ($2.47 billion).

In the given period, prices of coking coal and coke rose by almost 144 percent and 72 percent, respectively, both year on year.

In 2022, JSW produced 14.1 million mt of coal, up by 2.1 percent year on year, despite force majeure declared in May following two consecutive accidents at its mines. The company’s coke production was 3.2 million mt in the given year, down by 13.5 percent year on year.


Similar articles

India’s RINL faces risks of closure from raw material shortage after port workers’ strike

09 May | Steel News

India’s coking coal import port traffic up 13 percent in April

06 May | Steel News

MOC: Average steel prices in China up slightly during April 22-28

06 May | Steel News

India’s JSW Steel and Japan’s JFE team up to bid for stake in Australian coal mine

30 Apr | Steel News

Ex-Australia coking coal prices fluctuate below $250/mt FOB, market feels some softness

26 Apr | Scrap & Raw Materials

Indian government mulls consortium of state companies to build infrastructure in Mongolia to import coking coal

26 Apr | Steel News

MOC: Average steel prices in China up slightly during April 15-21

25 Apr | Steel News

Local coke prices in China rise, second round of increases awaited

19 Apr | Scrap & Raw Materials

Coal exports from Queensland up 0.1 percent in March from February

19 Apr | Steel News

India’s coking coal import traffic at ports up 10% in FY 2023-24

18 Apr | Steel News