Ikona BIP Ikona Portal Pracownika Ikona poczty Facebook Twitter Instagram Youtube Linkedin RSS Ikona szukania PLEN

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 effect is PLN 1.3 billion). Despite this, the net result after 9 months of this year was more than PLN 0.8 billion.

 

photo: Dawid Lach

In the third quarter, EBITDA (net of non-recurring events) amounted to PLN 1 billion, i.e. 37.5% less than in the previous quarter of the year. Total coal production at JSW S.A.’s mines in the third quarter of the year was 3.4 million tons (including 2.8 million tons of coking coal), which is 3% more than in the previous quarter. On the other hand, coke production decreased slightly to 0.9 million tons in Q3 2023.

 

In Q3 2023, coal sales to external buyers amounted to 2.1 million tons, up 6.2% from the previous quarter of the year. Coke sales, on the other hand, decreased by 8.8% down to 0.8 million tons in the third quarter. During the period in question, coking coal and coke prices decreased 20.7% and 20%, respectively, from the previous quarter. The average price of coking coal was PLN 979.78 per ton, while the average price of coke reached PLN 1,358.99 per ton. This caused a 17.8% decrease in total sales revenues, which amounted to over PLN 3.4 billion.

- While steel production in the EU was almost 10% lower in the third quarter of the year, our consistent trading strategy allowed us to maintain high sales of coal. The coke market is currently more challenging than the coal market, with most commercial coking plants unable to break even. JSW Group’s business model is based on two main segments: the coal segment and the coke segment, and it is working; the synergies are stabilizing the Group’s revenues - said Tomasz Cudny - President of the Management Board of JSW SA. “Globally, the war on the territory of Ukraine has resulted in a less stable economic situation, higher inflation and rising interest rates. We are constantly monitoring the economic conditions in order to counteract their negative impact on the financial performance of the JSW Group. So far, we have managed well in a very volatile and unpredictable geopolitical environment and I believe that we will continue to do so - added President Tomasz Cudny.

 

It is worth noting the 3% increase in cash capital expenditures associated with investments made in the JSW Group on a cash basis in Q3 2023 compared to Q2. In total, these expenditures in the third quarter of 2023 amounted to more than PLN 1 billion. Comparing the 10-month period of 2023 with the corresponding period of the previous year, the increase was as high as 50.4% to over PLN 3 billion.

Other news

Coking coal at the center of industrial transition

During the 17th European Economic Congress in Katowice, Adam Rozmus, Vice-President of the JSW Management Board for Technical and Operational Matters, spoke in a debate on the future of the mining industry. Panelists discussed, among other things, the place of coking…

Shaft sinking completed at Zofiówka

The sinking of shaft IIz to a depth of 1,104.68 meters has been completed at the Borynia-Zofiówka-Bzie mine in the Zofiówka Section. This is a very important project for the mine from the point of view of building the new 1,080 level.

Polish Cup returns to JSW Jastrzębski Węgiel

After a 15-year hiatus, the volleyball players once again took the TAURON Polish Cup, defeating Aluron CMC Warta Zawiercie 3:1 in the final in Kraków. After the great success, the team appeared with the trophy at the headquarters of JSW, the title sponsor, where they…

JSW SA has applied to the Ministry of Climate and Environment for a refund of the windfall tax

On Friday, 11 April 2025, JSW SA requested a refund of the windfall tax of PLN 1.6 billion paid in 2023 and surcharged in 2024. This is the result of a thorough analysis of the regulations that imposed the obligation to pay this levy on the Company.

Budryk Mine hosted the best students of mining schools

Promoting a culture of safety among young people, educating about labor law and OHS principles, as well as drawing attention to the importance of mining for the region and the economy - these are the main goals of the competition entitled "Safe Step to Mining with OHS",…

New longwalls in Pniówek mine

Two new longwalls with total reserves of approx. 1.4 million tons of coking coal with very good parameters have been put into operation at the Pniówek mine.

More news