Q2 EBITDA, net of non-recurring events, amounted to PLN 51.8 million, compared with a loss of PLN 192.4 million recorded in the first three months of this year. EBITDA for H1 2026 was negative at PLN 140.6 million, compared with a loss of PLN 921.4 million in the corresponding period of last year.
In Q2, coal mines produced more than 3.2 million tons of coal, a figure similar to that of Q1. During the same period, coke production fell by 10.9 percent, totaling just under 0.7 million tons. In H1, however, compared with the corresponding period last year, there was an increase in the production of both coal and coke. In the case of coal, production increased by 4.2 percent, to 6.5 million tons, and coke production increased by 1.1 percent, to 1.4 million tons.
Coal sales to external customers in Q2 totaled more than 2.05 million tons, an increase of 8.7 percent compared with the first three months of 2026. Coke sales during the period in question, in turn, reached nearly 0.7 million tons, a decrease of 10.7 percent. The average price of coking coal during that period was PLN 767, which was 6.2 percent higher than in Q1. The price of coke was higher, at PLN 993, which is 7.6 percent more. As a result, sales revenues were 7.1 percent higher than in Q1 2026 and reached nearly PLN 2.3 billion. However, when comparing the first six months of this year to the corresponding period a year earlier, revenue was down 5.8 percent and totaled over PLN 4.3 billion.
- Over the past few months, we have consistently implemented restructuring measures. The Remedy Program for 2026-2035 that we have prepared, covering both the Company and its subsidiaries, is comprehensive in nature; on the one hand, it focuses on securing financial liquidity and stabilizing operations in the short term, while on the other hand, it envisions more profound, long-term changes aimed at a lasting improvement in the operational efficiency and profitability of the entire Group. Some of the planned measures are already underway, and we will gradually implement the rest in accordance with the approved schedule - says Bogusław Oleksy, President of the JSW SA Management Board.
The most important elements of the Program include, among others, measures to improve financial liquidity, including securing prepayments and selling selected assets, deferring payments to the Social Insurance Institution (ZUS), reducing capital expenditures, optimizing operating costs and adjusting the headcount level to the Company’s actual needs.
In Q2, the JSW Group’s capital expenditures, on a cash basis, totaled PLN 532 million and were 15.6 percent lower than in the previous quarter. Throughout the first half of the year, capital expenditures were 38.9 percent lower than in the corresponding period of last year. The funds were allocated, among other things, to mine workings, modernization of coal processing plants and longwall outfitting, as well as to investments carried out at JSW KOKS.
