Ikona BIPIkona Portal PracownikaIkona pocztyFacebookTwitterInstagramYoutubeLinkedinRSSIkona szukaniaPLEN

Jastrzębska Spółka Węglowa increases its net profit for 9 months of 2022 to nearly PLN 6.4 billion

Jastrzębska Spółka Węglowa has maintained its record performance in spite of the increasingly difficult market environment and declining coking coal and coke prices on global markets. In the third quarter of 2022, the JSW Group posted net profit of PLN 2.15 billion.


photo: Dawid Lach

EBITDA (net of non-recurring events) was PLN 2.91 billion. After 9 months, the net result reached a record high level of PLN 6.36 billion and EBITDA (net of non-recurring events) was PLN 8.73 billion.

- The third quarter showed that the company is able to navigate even the very volatile and unpredictable geopolitical environment. We are reaping benefits from our cooperation with all the partners, the trading relationships and the long-term contracts. These factors have minimized the negative consequences of the difficult market conditions. Additionally, after this year’s incidents in JSW mines and after announcing a force majeure event, the company stabilized its overall coal production and financial results in spite of the significant impact on our activities of factors such as growing inflation, rising energy costs, prices of materials and services and increasing labor costs - said Tomasz Cudny, President of the Management Board of JSW S.A. - Despite the difficult geopolitical circumstances, which affected the market for raw materials for the metallurgy sector, we have continued to implement our adopted strategy. It is the investments in mines and coking plants that allow the JSW Group to function efficiently and respond to market needs in the volatile conditions; this is why surplus funds are regularly invested in the Closed-End Investment Fund, which will secure these activities in case of an economic downturn. We attach special importance to climate transition and the role our company plays in this process. Coking coal will remain, for many years to come, an indispensable element in the production of steel, which is important for global transition.We are actively working on reducing our carbon footprint and ultimately on achieving climate neutrality - added the President of the JSW S.A. Management Board.

In Q3 2022, total sales of coal produced in JSW mines reached 3.49 million tons, which marked a slight decline from the previous quarter. During the period in question, the prices of coking coal and coke decreased by 18.9% and 10.7%, respectively, compared to the previous quarter. The average price of coking coal was PLN 1,560.28 per ton, while the average price of coke reached PLN 2,385.59 per ton. This caused a 13.8% decline in total sales revenues, which amounted to more than PLN 5.15 billion.

Total coal production in JSW S.A. in the third quarter of the year was 3.43 million tons (including 2.64 million tons of coking coal) and was slightly higher than in the previous quarter.
 The production during the 9 months of this year grew 4.1% compared to the corresponding period of the previous year. On the other hand, in Q3 2022, the production of coke fell by 11.9% down to nearly 0.8 million tons.

It is worth noting the 3% quarter on quarter increase in capital expenditures associated with investments made in the JSW Group on a cash basis. They amounted to over PLN 623 million. When comparing the 9-month period of 2022 to the corresponding period last year, the increase was 33.1% up to PLN 1.77 billion. The higher capital expenditures are associated, among others, with modernization of coke oven battery no. 4 at the Przyjaźń Coking Plant in Dąbrowa Górnicza, construction of a power unit at the Radlin Coking Plant and the purchase of mining equipment and machinery.

Other news

Festive celebration of St. Barbara's Day

President of the Republic of Poland Andrzej Duda took part in the most important miners' holiday, which was organized in Gliwice. During Barbórka, participants did not forget about the miners who tragically died recently. A minute of silence was held to pay tribute to…

Tax liabilities visible in JSW Group’s performance

In the third quarter of 2023, the JSW Group posted net loss of PLN 1.2 billion. This net result was significantly affected by the inclusion of the solidarity contribution in the amount of PLN 1.6 billion (the impact of the contribution on the net result after the tax…

Trophy for JSW

Jastrzębska Spółka Węglowa took 2nd place in the IPMA PMO Award 2023 competition for the best PMO Office. During the 26th IPMA Poland conference, the symbolic statuette, which is a recognition for continuous development and achievement of project excellence, was…

JSW a sponsor of the Polish Olympic Committee

Jastrzębska Spółka Węglowa has become a sponsor of the Polish Olympic Committee (PKOl) and Poland’s National Olympic Team. The cooperation agreement was signed at the Olympian Club at PKOl’s Olympic Center. The beneficiaries of the agreement will also include five…

End of great rivalry

After a four-year break, the grand finale of the 11th edition of the "Competition on knowledge of OHS rules and regulations for the Cup of the President of Jastrzębska Spółka Węglowa S.A." was held at JSW’s headquarters. In the competition for JSW employees in the field…

Internet broadcast of the results of the JSW Capital Group for the third quarter of 2023 year

The Management Board of Jastrzębska Spółka Węglowa S.A. has the pleasure of inviting you to watch the Internet broadcast of the financial results of the JSW Group for the third quarter of 2023 which will take place on November 23, 2023 (Thursday) at 10:00 (CET)


More news