JSW slumps as wider-than-expected Q2 loss weighs on balance sheet

Jastrzebska Spolka Weglowa SA

30/09/2025 08:56

** Polish state-controlled coal miner JSW's JSW.WA shares fall 9.8% after it reported a Q2 net loss of 724.1 million zlotys ($199 million)

** The loss comes above the analysts forecasts of 658 million zlotys, though it narrows against 1.36 billion zloty net loss JSW reported in the first quarter of 2025

** Jakub Szkopek, an analyst at Erste Group, points to the faster-than-anticipated rate of decline in financial resources on the balance sheet

** The company's auditor declined to express a conclusion on the review of the consolidated financial statements, Szkopek adds

** "This may increase market doubts about the effectiveness of management's corrective measures, especially after the former CFO had attributed the report's delay to technical issues", Szkopek says

**
Last year
, JSW opted for a restructuring plan that aimed at trimming purchases and capital expenditure

** As of 07:27 GMT, JSW stock was the top loser in Poland's blue-chip WIG20 .WIG20 index, with shares being on track for its worst day since November 2023

($1 = 3.8602 zlotys)

 (Reporting by Marta Maciag)

 ((Marta.Maciag@thomsonreuters.com))