In the first six months of 2025, EBITDA Bogdanka increased by 55.6 percent, reaching PLN 408.6 million, and its profitability reached 26.8 percent, which means an increase of 11.1 percentage of year -on -year percentage. Net profit amounted to PLN 264.7 million, while a year earlier the company recorded a loss of PLN 908 million. The improvement of results was influenced by, among others Compensation for damages in the underground property that compensated for price pressure on the market.
It is worth emphasizing that in the corresponding period of 2024 the group's results were charged with a copy of the assets, which had a significant impact on the dynamics of this year's results. Despite the difficult market conditions, Bogdanka maintained high operational efficiency and strengthened her position in the sector.
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Production and sale: increase in volume and market share
In the first half of 2025, Bogdanka sold nearly 4 million tons of commercial coal, which is an increase of 10.3 percent. compared to the same period a year earlier. A higher level of sales has reduced the negative impact of price drop and strengthened the company's position on the market. The group's share in the supply of coal to professional energy in Poland increased to 35.7 percent, while at the end of the first half of 2024 it was 31.6 percent.
From January to June 2025, about 3.9 million tons of commercial coal were produced, i.e. by 375 thousand. tons more than a year ago, which translates into an increase of 10.7 percent. Coal yield reached 66 percent, while in the first half of 2024 it was 63.2 percent. Enea Wytwarzanie sp. Z oo and ENEA POŁANIAN SA, which was responsible for almost 80 percent, remain the key recipients. sales revenues.
Bogdanka's results in the first quarter of 2025.
Investments and modernization: priority for development
In the first half of 2025, the LW Bogdanka Capital Group allocated about PLN 299.3 million for investments, which is 42.9 percent. annual capex. The vast majority of these funds, nearly 70 percent, were allocated to the construction of new excavations and modernization of existing ones. During this period, a total of 9 km of new excavations were made, which is crucial for the further development and operational efficiency of the company.
Financial results: Stability despite challenges
In the first half of 2025, the group's revenues amounted to almost PLN 1.52 billion, which means a decrease of 8.9 percent. compared to the same period of 2024. EBITDA increased to PLN 408.6 million, and the EBIT operating result reached PLN 310.8 million, while a year earlier the company recorded a operating loss of about PLN 1.1 billion. The EBITDA margin after six months 2025 amounted to 26.8 percent, and the EBIT margin – 20.4 percent, which means an increase by 11.1 and 88.2 percentage of year -on -year, respectively.
The financial results were significantly influenced by compensation in the amount of PLN 144.85 million for damages in the underground property and lower depreciation, resulting from earlier write -offs updating the value of fixed assets. In the second quarter of 2024, Bogdanka formed an updating copy of PLN 1.17 billion, which significantly charged operational and net results, but it did not affect the EBITDA or financial liquidity of the company.
Market challenges and perspectives
Zbigniew Stopa, president of the board of LW Bogdanka, emphasized that the company can flexibly adapt production to changing market conditions, while ensuring financial stability. He drew attention to the difficulties associated with the competition from subsidized Silesian coal, which affects the price mechanisms and profitability of the company. The foot also noted that further strengthening of market advantages through effective production of energy coal and development of activities towards sustainable industry and energy transformation remains the priority.
Artur Wasilewski, deputy president of the management board for economic and financial, pointed out that despite the consistently implemented cost and investment optimization program, it is becoming increasingly difficult to generate positive margins and cash flow in current market conditions. He added that the results of the first half of 2025 show effective maintenance of solid financial results, however, one -off compensation and lower depreciation after previous updating write -offs had a significant impact on them.
Bogdanka plans to continue investments in innovation, diversification of activities and pro -environmental initiatives, while taking care of local communities. The company intends to build solid foundations for the implementation of its strategic plans, strengthening the position of a leader on the hard coal market in Poland.
