Currenr report no. 29/2014

Update of the operational assumptions of JSW S.A. Capital Group for 2014

 

Body of the Report:

Jastrzębska Spółka Węglowa S.A. ("JSW") announces an update to its 2014 production and CAPEX operational assumptions previously disclosed and included in the Management Board Report on the activity of the JSW Capital Group for the year ended 2013

1. According to the updated production assumptions our 2014 production volume is expected to be at the level of approx. 13.8 – 14.0 million tons (including approx. 1.5-1.6 million tons from Knurów-Szczygłowice Mine) as compared to the previous estimated level for 2014 of 13.8 million (excluding Knurów-Szczygłowice Mine) tons and compared to 13.6 million tons produced in 2013.

2. Within the updated production assumptions our production volume for the six months ending 31 December 2014 (excluding recently acquired Knurów-Szczygłowice Mine) is expected to be at the level of 6.7 million tons (8.3 million tons including the impact of Knurów-Szczygłowice Mine), as compared to 6.8 million tons produced in six months ending 31 December 2013

3. 2014 CAPEX is expected amount to PLN 1,809 million (including PLN 68 million relating to Knurów-Szczygłowice Mine), as compared with the previous estimate for 2014 of PLN 2,167 million.

Simultaneously, the Group continues to implement the Adjustment Measures Program to enable the Group to adjust to the current market situation and reduce the operational costs.