Jastrzębska Spółka Węglowa had in the first quarter of 2025 PLN 1.363 billion net loss against PLN 9.7 million a year earlier, revenues amounted to PLN 2.438 billion against PLN 3.414 billion – the company said in a quarterly report. The results were in line with the company's previous estimates.
In addition, the company recorded PLN 1.574 billion in operational loss, compared to PLN 48.3 million EBIT in the same period of the previous year.
As stated, the JSW's result of the update copy of non-financial fixed assets in the amount of PLN 648 million, associated with the January fire in the Knurów-Szczygłowice mine, Ruch Szczygłowice had a significant impact on the JSW result.
EBITDA loss amounted to PLN 1.227 billion against PLN 532.1 million a year earlier.
The corrected EBITDA loss (without one -off events) amounted to PLN 545.5 million against PLN 572 million in profit in the same period of 2024.
According to JSW in the report, the loss of the EBITDA of the coal segment amounted to PLN 1.18 billion, and in the same period of the previous year the company had almost PLN 637 million in EBITDA profit. In the KOKS segment, the company recorded a loss of EBITDA in the amount of PLN 101.7 million against PLN 205.6 million a year ago. In turn, the EBITDA of the other segments in this period amounted to approx. PLN 89.3 million against PLN 111.8 million a year ago.
Total coal production in JSW mines in the first quarter of 2025 was at the level of 2.9 million tons against 3.1 million tons a year earlier, of which the production of coking coal was 2.3 million tons (2.4 million tons a year ago). Coke production was 0.7 million tons against 0.8 million tons a year ago.
The average price of coking coal produced in JSW decreased by 29.5 percent. RDR and amounted to PLN 746.40/ton. The average coke price was PLN 1,053.26 per ton against PLN 1,370.87 per ton a year earlier.
The unit Mining Cash Cost amounted to 836.36 PLN/t in the first quarter of 2025 (increase of 13.4 percent yaws). Cash Converse Cost increased to PLN 372.03/tz PLN 308.00/t a year earlier.
Net cash flows from the group's operating activities for the first quarter were negative and amounted to minus PLN 593.1 million in relation to positive flows at the level of PLN 471.9 million a year earlier.
The value of cash and their equivalents in the report on cash flows for the first quarter of 2025 amounted to PLN 768.6 million and was lower in relation to the state at the end of March 2024 by PLN 967.6 million.
“We operate on a difficult and demanding market, which is why we are consistently implementing a strategic transformation plan, which aims to improve operating efficiency, reduce costs and increase the company's business resistance. The first effects of these activities are already visible. We introduce changes where possible and reasonable, while being aware that many factors – such as global raw materials, adverse dollars or complicated geological conditions – remain beyond our influence, “he said, cited in a press release, Adam Rozmus, vice president of JSW.
Almost PLN 1 billion was allocated to investments in the JSW group, i.e. by 14.4 percent. More compared to the previous quarter.
According to the company, these were primarily expenses for investments related to the provision of new deposits and mining levels, as well as the modernization of the Mechanical Removement Plant.
Since November 2024, JSW has been implementing a strategic transformation plan (PST). In addition to increasing production, savings projects are also carried out.
“In the area of purchases, PST activities brought real savings in the amount of over PLN 307 million until May 22, which is 85 % of the assumed amount for 2025. In the case of investments, over PLN 1.2 billion of savings was already achieved,” said JSW Vice President Remigiusz Krzyżanowski.
As reported, work is currently underway to optimize expenditure on reinforcements, movement excavations and optimization of other investment expenditure.
The goal of PST is to obtain lasting savings, as well as long -term financial stabilization of the company. (PAP Biznes)
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