Financial results by areas of activity
The structure of the Group's revenues on external sales by segment
| Specification | I-VI 2026 | I-VI 2025 |
| Coal | 57,6% | 56,4% |
| Coke and coal derivatives | 37,3% | 38,3% |
| Other business | 5,1% | 5,3% |
| Financial results by operating segments | for the period ended | |
| 30 June 2026 | 30 June 2025 | |
| in PLN millions | ||
| Hard coal mining and sales | ||
| Sales revenues to external customers* | 2 500,3 | 2 589,3 |
| Operating profit of the segment | (459,3) | (2 153,1) |
| Depreciation | 701,2 | 646,0 |
| EBITDA** | (241,9) | (1 507,1) |
| Production and sale of coke and coal derivatives | ||
| Sales revenues to external customers* | 1 616,7 | 1 759,2 |
| Operating profit of the segment | (482,8) | (174,2) |
| Depreciation | - | 20,9 |
| EBITDA** | (482,8) | (153,3) |
| Other business*** | ||
| Sales revenues to external customers | 220,6 | 241,9 |
| Operating profit of the segment | 74,7 | 98,0 |
| Depreciation | 70,2 | 69,5 |
| EBITDA** | 144,9 | 167,5 |
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Financial results by areas of activity
Format: xlsx | 13 KB
*Revenue from sales excluding the revenue adjustment resulting from the settlement of hedging transactions relating to: the coal segment (PLN 3.2 million in H1 2026 and PLN 9.9 million in H1 2025) and the coke segment (PLN 3.0 million in H1 2026 and PLN 11.8 million in H1 2025).
** EBITDA = operating profit/(loss) plus depreciation and amortisation.
In accordance with the ESMA Guidelines on Alternative Performance Measures (""APMs""), EBITDA is an Alternative Performance Measure. As a measure not defined under IFRS, EBITDA is not a standardised metric and the method of its calculation may vary between entities. The EBITDA measure used by the Group may therefore not be comparable with similar measures presented by other companies. It should be treated as supplementary information that enhances the presentation of the Group’s results and other data.
*** Restated data due to the classification of PBSz’s results as discontinued operations.
Source: Management Board Report on the activity of the JSW Group for the period of 6 months ended 30 June 2026
Financial results by areas of activity
The structure of the Group's revenues on external sales by segment
| Specification | I-III 2026 | I-III 2025 | I-III 2024 | I-III 2023 | I-III 2022 | I-III 2021 | I-III 2020 | I-III 2019 | I-III 2018 | I-III 2017 | I-III 2016 | I-III 2015 | I-III 2014 | |
| Coal | 55,4% | 57,3% | 51,8% | 61,1% | 54,3% | 45,9% | 46,7% | 53,0% | 56,6% | 64,7% | 49,2% | 49,4% | 40,9% | |
| Coke and coal derivatives | 38,9% | 37,2% | 43,2% | 34,6% | 41,8% | 48,8% | 48,2% | 44,3% | 41,0% | 32,6% | 41,8% | 43,1% | 52,7% | |
| Other business | 5,7% | 5,5% | 5,0% | 4,3% | 3,9% | 5,3% | 5,1% | 2,7% | 2,4% | 2,7% | 9,0% | 7,5% | 6,4% | |
| Financial results by operating segments | for the period ended | ||||||||||||
| 31 March 2026 |
31 March 2025 |
31 March 2024 |
31 March 2023 |
31 March 2022 |
31 March 2021 |
31 March 2020 |
31 March 2019 |
31 March 2018 |
31 March 2017 |
31 March 2016 |
31 March 2015 |
31 March 2014 |
|
| in PLN millions | |||||||||||||
| 1 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| Hard coal mining and sales | restated data** | ||||||||||||
| Sales revenues to external customers | 1 157,7 | 1 360,9 | 1 767,7 | 2 722,2 | 2 679,6 | 917,6 | 918,1 | 1 319,5 | 1 419,8 | 1 537,8 | 690,1 | 894,6 | 679,7 |
| Adjustment of sales revenues on account of execution of hedging transactions | 3,2 | 3,1 | (2,9) | (1,3) | - | - | - | - | - | - | - | - | - |
| Operating profit/(loss) of the segment | (414,8) | (1 479,2) | 199,5 | 1 699,6 | 2 175,5 | (398,6) | (203,5) | 352,4 | 980,0 | 1 139,2 | (121,4) | (218,5) | (139,2) |
| Depreciation | 388,1 | 294,6 | 437,2 | 338,6 | 288,4 | 254,9 | 244,7 | 189,3 | 146,1 | 158,1 | 172,1 | 252,3 | 233,7 |
| EBITDA | (26,7) | (1 184,6) | 636,7 | 2 038,2 | 2 534,2 | (143,7) | 41,2 | 541,7 | 1 126,1 | 1 297,3 | 50,7 | 33,8 | 94,5 |
| Production and sale of coke and coal derivatives | restated data** | restated data*** | |||||||||||
| Sales revenues to external customers | 814,3 | 885,1 | 1 474,8 | 1 542,1 | 2 066,7 | 974,7 | 947,7 | 1 101,6 | 1 029,9 | 774,7 | 586,2 | 780,7 | 876,5 |
| Adjustment of sales revenues on account of execution of hedging transactions | 2,4 | 4,9 | 6,0 | 3,9 | - | (0,4) | (1,4) | - | - | - | - | - | - |
| Operating profit/(loss) of the segment | (197,4) | (112,6) | (230,5) | (195,5) | 106,1 | 211,7 | (6,2) | 100,2 | 30,9 | (71,5) | (10,3) | 2,1 | 25,9 |
| Depreciation | - | 10,9 | 24,9 | 26,2 | 25,7 | 28,1 | 26,1 | 25,4 | 24,8 | 23,3 | 35,8 | 44,6 | 48,8 |
| EBITDA | (197,4) | (101,7) | (205,6) | (169,3) | 131,8 | 239,8 | 19,9 | 125,6 | 55,7 | (48,2) | 25,5 | 46,7 | 74,7 |
| Other business | restated data* | restated data** | |||||||||||
| Sales revenues to external customers | 119,4 | 130,2 | 169,2 | 191,5 | 191,9 | 106,2 | 100,2 | 67,0 | 60,9 | 63,5 | 125,9 | 134,8 | 107,5 |
| Operating profit of the segment | 23,7 | 31,5 | 70,4 | 36,9 | 28,5 | 24,5 | 29,4 | 27,7 | 30,3 | 13,3 | 35,7 | 26,9 | 30,4 |
| Depreciation | 35,0 | 41,5 | 41,4 | 34,3 | 33,6 | 33,6 | 30,6 | 20,6 | 15,6 | 14,0 | 19,9 | 19,6 | 19,7 |
| EBITDA | 58,7 | 73,0 | 111,8 | 71,2 | 62,1 | 58,1 | 60,0 | 48,3 | 45,9 | 27,3 | 55,6 | 46,5 | 50,1 |