Polish miner JSW's Q1 net loss at 1.36 bln zlotys, in line with estimates

Jastrzebska Spolka Weglowa SA

30/05/2025 16:42

GDANSK, May 30 (Reuters) - Polish coal miner JSW JSW.WA net loss for the first quarter came in at 1.36 billion zlotys ($363.24 million) compared to a loss of 11.0 million zlotys a year ago, mainly due to a one-off loss in the value of assets.

The result was in line with preliminary data reported by the company in May.

WHY IT'S IMPORTANT

JSW is the European Union's largest producer of coking coal, one of critical raw materials on EU's list and essential for steel production.

CONTEXT

The results were hit by a write-down of 648 million zlotys ($172.45 million) on assets value in KWK Knurow Szczyglowice. In January this year the mine was affected by a methane ignition.

BY THE NUMBERS

JSW's sales revenue for the first quarter dropped by 28.6% year-on-year to 2.44 billion zlotys, primarily due to lower sales of coke and coal and higher mining cash cost (MCC).

The company reported a loss before interest, taxes, depreciation and amortisation (EBITDA) of 1.23 billion zlotys for the three months, compared with core profit of 532.1 million zlotys for the same period in 2024.

($1 = 3.7441 zlotys)

 (Reporting by Anna Banacka
Editing by David Evans)

 ((anna.banacka@thomsonreuters.com; +48 58 769 65 65))