Europe's largest coking coal producer
Poland-based Jastrzebska Spolka Weglowa SA (JSW) has announced its financial results for 2013, reporting a net profit of PLN 82.2 million ($27 million), compared to a net profit of PLN 988.1 million in the previous year. JSW's sales revenues decreased by 13.5 percent year on year to PLN 7.6 billion ($2.5 billion). The company's EBITDA in 2013 amounted to PLN 1.4 billion ($460.9 million), falling 40.9 percent compared to 2012.
JSW CEO Jarosław Zagórowski stated that the 2013 results clearly show that the market context for
mining companies remained unfavorable in terms of coal, coke and steel prices. However, despite extremely demanding macroeconomic conditions and the decline in coal prices, the company closed 2013 in the black.