JSW is making up for losses

- We are experiencing a clear increase in demand for the JSW Group’s products. After months of stagnation, the economy is beginning to pick up momentum, which is a very promising sign for our company - emphasizes Barbara Piontek, President of the JSW SA Management Board, commenting on the Jastrzębska Spółka Węglowa Group’s financial performance in Q1 2021.

photo: Dawid Lach

Sales of coke in Q1 2021 were carried out by the JSW Group in accordance with the adopted schedule. Revenues from coal sales to external customers reached PLN 917.6 million. Coke production was much higher, at 0.9 million tons. This was 12.5% more than in the corresponding quarter of the previous year. Revenues from sales of coke and hydrocarbons to external customers in the period under analysis reached PLN 974.3 million and were 29.8% higher than in the previous quarter.

Total sales revenues of the JSW SA Group went up by 12% compared to the previous quarter, having reached nearly PLN 2 billion.

- The JSW Group is slowly making up for the losses suffered in the difficult 2020. On an ongoing basis, we are analyzing the impact of the coronavirus pandemic on the market situation and we are monitoring all signals from our business partners, as they directly translate into demand for the Group’s products, and thus into the revenues we generate - emphasizes the President of the JSW SA Management Board.

In the first quarter of this year, the volume of JSW’s coal production totaled approximately 3.4 million tons, down 16.6% compared to the first quarter of last year.

The Group’s revenues were favorably affected by the average coke price, which stood at PLN 885.60 per ton, up 5.7% compared to Q1 2020. Significantly lower, by as much as 15.4%, was the average price of metallurgical coal, which in the period in question stood at PLN 413.08 per ton.

In the period under analysis, capital expenditures of the JSW Group amounted to PLN 536.4 million (in cash terms) and were 10.1% higher than in the last quarter of the previous quarter.

In Q1 2021, the COVID-19 pandemic continued to exert a significant impact on the global economy and the situation in Poland. The adverse impact of the coronavirus also affected the JSW SA Group’s operations and financial performance. The JSW Group closed Q1 2021 with a negative net financial result of PLN 179.2 million. In turn, EBITDA net of non-recurring events in the period in question was PLN 112.6 million.


The JSW SA Group is the largest producer of high quality metallurgical coal and a significant producer of coke in the European Union. The Group operates in two sectors: coal and coke. The Group is an active participant of the coking coal – coke – steel supply chain. It focuses on extraction and processing of coal as well as sale of the JSW Group’s products, such as coal, coke and hydrocarbons, including coke oven gas, tar, BTX, ammonium sulfate and liquid sulfur.