Ikona BIPIkona Portal PracownikaIkona pocztyFacebookTwitterInstagramYoutubeLinkedinRSSIkona szukaniaPLEN

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

Challenges of energy transition in industry

The 33rd School of Underground Mining was held in Kraków, bringing together numerous representatives of the mining industry, scientists and experts, including employees of Jastrzębska Spółka Węglowa and the JSW Group. The wrap-up of the conference was held, for the…

Aktualności JSW SAChanges in the JSW SA Management Board

On Friday 23 February 2024, the JSW Supervisory Board dismissed the following persons from the Company’s Management Board: Tomasz Cudny, President, and Sebastian Bartos, Vice-President of the Management Board for Sales.

JSW recognized for water and climate protection efforts

In the new 2022 report of the world-renowned Carbon Disclosure Project (CDP), Jastrzębska Spółka Węglowa received a high B- climate change rating. This is a huge accomplishment considering that a year ago the Company was rated at a lower C level.

Aktualności JSW SAStatement of the Management Board of Jastrzębska Spółka Węglowa SA

With reference to the media reports regarding falsification of entries with the results of methane measurements by the employees of KWK Pniówek, the JSW Management Board declares that the Company has not received any formal information from the prosecutor's office…

Robotization and artificial intelligence at Jastrzębskie Zakłady Remontowe

Jastrzębskie Zakłady Remontowe (a JSW Group company) has launched its first fully robotic station for production of mining machinery and equipment components. JZR's management announces the robotization of more of the company's manufacturing processes based on AI…

Unification of powered supports

Jastrzębskie Zakłady Remontowe (a JSW Group company) has begun efforts to manufacture unified powered supports for Jastrzębska Spółka Węglowa mines. Unifying the design features of the powered supports is aimed at enabling interchangeability, simplifying production and…

More news