Poland-based JSW sees sales revenue rise in first half amid rising prices
Polish coking coal producer Jastrzebska Spolka Weglowa SA (JSW) has announced its financial and operational results for the second quarter and first half of this year.
In the quarter under review, the company recorded a net profit of 2.36 billion PLN ($500.6 million), up 27.3%, while its EBITDA was 3.88 billion PLN ( $823.23 million), up 49.5%, quarter over quarter. JSW’s second-quarter revenue was PLN 5.97 billion ($1.26 billion), up 21% quarter-on-quarter.
In the first half of the year, JSW’s net profit amounted to PLN 4.2 billion ($891.09 million), compared to a net loss of PLN 330.5 million in the same period of the year last, while its sales revenue totaled PLN 10.9 billion ($2.3 billion), up 161.3% year-on-year amid rising coking coal and coal prices. The company’s first-half EBITDA was PLN 5.82 billion ($1.2 billion), compared to PLN 255.9 million in the first half of last year, while its EBITDA margin increased to 53.4% against 6.1% recorded during the same period of the previous year.
In the second quarter, JSW’s coal production was 3.4 million tons, down 9.7% from the previous quarter, and its coke production was 880,000 tons. In the reporting period this year, the company’s coal sales totaled 3.58 million tons, down 11.7%, and its coke sales were 820,000 tons, down 12%. .0%, both compared to the first quarter.
In the first six months, the company’s coal production was 7.17 million tons, up 4.8%, and its coke production was 1.76 million tons, down 4, 3%, both year-on-year.