The largest impairment loss relates to the Knurów-Szczygłowice mine (approx. PLN -904.8 million), followed by the Zofiówka Section of the Borynia-Zofiówka mine (approx. PLN -823.2 million) and the Budryk mine (approx. PLN -322 million). At the same time, the company has reversed a previous impairment loss related to the Pniówek mine, increasing its value by approximately PLN 733.9 million.
In addition, JSW has recognized an impairment loss on a receivable from JSW KOKS SA in the amount of approx. PLN -301.5 million, in accordance with IFRS 9, which requires impairment assessment based on the expected credit loss model. This reflects increased conservatism in the valuation of financial assets, rather than an actual outflow of funds from the Group.
The key point is that all of the aforementioned operations are non-cash. They do not involve any transfer of funds or restrictions on mining operations. JSW emphasizes that impairment tests do not affect the fulfillment of commercial obligations or the Group’s day-to-day operations.
Impairment losses on assets are a standard component of financial reporting and involve adjusting the value of assets to reflect current market conditions and forecasts. In practice, they affect the net financial result but do not change the company’s liquidity position.
Importantly, the figures provided are estimates and are subject to change. The final figures will be presented in JSW’s annual standalone financial statements and in the JSW Group’s annual consolidated financial statements for 2025.
