EBITDA for the first six months of 2018 was PLN 1,767.1 million.
In H1 2018 overall coal production was 7.9 million tons, i.e. 5% above H1 of last year (net of the Krupiński mine). Coke production also rose to 1.9 million tons, i.e. it was up 8% above last year.
The JSW Group’s total sales revenues in the period under discussion totaled PLN 4,933.5 million, i.e. they were up 5% more than in the corresponding period of 2017. Coal sales to external customers edged up slightly, i.e. by less than 1% to 5,271.9 thousand tons. In turn, coke sales rose 3% to 1,705.8 thousand tons.
In the period in question we posted significant growth in capital expenditures in the JSW Group (chiefly in the coal segment). Total CAPEX was PLN 570.1 million, or 54% above the level in the first 6 months of last year. Such significant capital expenditures earmarked for investment projects in the most recent half year stem from the necessity of accelerating investments related to the modernization of coal preparation plants and building new mining levels that saw deceleration over the years when the coal and steel markets suffered a downturn. Executing these projects will make it possible to increase the coking coal yield and enhance the effectiveness of production processes.
“Steel production is steadily growing globally and in Europe alike. When comparing Q1 and Q2 2018, global production rose nearly 7% while in Europe it expanded by less than 2%. This in turn generates demand for coking coal and coke”, points out Daniel Ozon, CEO of Jastrzebska Spolka Weglowa and adds: “Our fundamental objective is to strengthen our position as the European leader in the production and sales of coking coal and coke. We also place great emphasis on measures focused on all projects that yield efficiency gains and environmental benefits that in the future will make a substantial contribution to achieving the highest environmental protection standards”.
