In the first nine months of 2021 the JSW Group recorded a net loss of PLN 62.7 million versus PLN 1,088.6 million one year ago. However, it is worth emphasizing that in the three-month period ended 30 September 2021, the JSW Group generated a net profit of PLN 267.8 million.
EBITDA (net of non-recurring events) was PLN 1,044.2 million. Total coal production edged down 4.1% to 10.2 million tons. In turn, coal production surged upwards 15.1% to nearly 2.8 million tons.
- Since mid-August we have observed dynamic growth in coking coal prices. The market is conducive to us, all the more so since the demand for coking coal outside China is also on the rise. Let’s remember that the coke market is a global market and that coke from Poland competes with suppliers of this commodity from around the world - explains Tomasz Cudny, CEO of JSW SA and adds: - The global coke trade in Q2 of this year totaled 7.2 million tons. This was the largest quarterly result in at least ten years.
Overall sales of the coal produced in JSW’s mines grew by 11% in the first 9 months of the year in comparison with the corresponding period of last year to 11.1 million tons. The volume of coke sales edged up 1.4% to 2.7 million tons. It is noteworthy that in the period in question the prices of metallurgical (coking) coal and coke also climbed, by 4.5% and 40.8%, respectively. As a result, this contributed to 31.1% top line growth in the JSW Group. The JSW Group’s revenue in 2019 topped PLN 6.7 billion year-to-date as of the end of September 2021.
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The Jastrzębska Spółka Węglowa Group is the largest producer of high quality hard coking coal and a significant producer of coke in the European Union. For years the Group has held a key position in the Polish and European market.
