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Jastrzebska Spólka Weglowa Reports Net Profit in 2019

Coal News - Published on Tue, 24 Mar 2020

Image Source: Coking Coal JSW
Polish coking coal miner Jastrzebska Spolka Weglowa Group generated a net profit totaling nearly PLN 650 million in 2019. Despite the economic slowdown with which the entire raw material industry is grappling, the JSW Group's financial results stayed at a stable level. The JSW Group's EBITDA in 2019 topped PLN 1.94 billion. In turn, total revenue was PLN 8.67 billion. In 2019 the JSW Group's mines produced 14.8 million tonne of coal and 3.2 million tonne of coke. The average price for metallurgical coal (coking coal) sold to external customers was PLN 634.84 per ton. In turn, the average coke price was PLN 1,072.79 per ton. Revenue on the sale of coal to external customers was PLN 4.77 billion, while the revenue on the sale of coke and hydrocarbons was PLN 3.55 billion.

JSW President Wlodzimierz Herezniak said “Undoubtedly, 2019 was a period of economic slowdown around the world. The crisis in the automobile industry, the suppressed demand for steel in Europe and the trade war between the US and China contributed to the decline in activity in international trade. That is why our current efforts focus on intensifying sales and taking measures to enhance operational and cost effectiveness gradually.”

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Posted By : Yogender Pancholi on Tue, 24 Mar 2020
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