Sales revenues in the third quarter increased compared to the second quarter by 12%, reaching 1.7 billion. This was due to the increase in the average price of coking coal to $ 85 that is 6.3% compared to the second quarter of this year, while the average price of steam coal rose to $ 56 which is 7.7%.

JSW Capital Group EBITDA - adjusted for non-cash profit on the sale of subsidiaries (PEC and SEJ WZK Victoria) - was in the third quarter PLN 246.1 million, and after nine months of this year PLN 502.7 million. The financial result of the third quarter - without these events - ended with a net profit of PLN 48.0 million, while the 9-month period the Group recorded a loss of (-) PLN 198.0 million, while in the same period last year the result for the nine months was a loss of (-) PLN 544.7 million, although the reporting  results are a bit worse.

- We are in the process of restructuring. Faced with the threat of losing liquidity we had to make very difficult decisions related to, among others, the transfer of the Jas-Mos Site to  Restructuring Company and the transfer of part of our coke and energy assets. It helped to stabilize the liquidity situation of the company. An important factor in stabilizing the situation was also the Agreement with the company Bondholders signed in August. We are now concentrating on the implementation of the restructuring program. We also carry out a number of key investment projects, which are supposed to allow the operation of the Group in the long term and secure the job places. These investments are aimed at increasing the share of high-quality coking coal in our production. Today, we feel a positive impact of rising coal prices, but it is hard to assess the duration of the trend - emphasizes Tomasz Gawlik, CEO of JSW SA.   

JSW mines produced 12.7 million tons of coal by the end of September this year (6.7% more than last year), including 8.6 million tons of coking coal and 4.1 million tons of coal for energy purposes.

At the same time, coking plants in the group produced 3.2 million tons of coke - by 0.8% more than in the same period last year. Stocks of coal produced in the JSW Group and available for sale decreased almost by half - at the end of the second quarter. They amounted to 0.9 million tons by the end of the third quarter to fall to 0.4 million tons . At the same time, coke inventories fell by 24.6 thousand tons from 354.7 thousand tons to 245.2 thousand. tons ( due to sale of the WZK Victoria).

After nine months of this year, unit cash cost of coal production decreased by 21.2% compared to the same period last year, when it amounted to nearly PLN 316  per ton. Also unit cash cost of coke conversion decreased by 2.8% which is less than PLN 137  per ton.

After three quarters of this year, total sales of coal amounted to over 12.9 million tons. In this way, it exceeded the amount of production and was by  9.2% higher than sales in the same period of the previous year, when it reached almost 11.9 million tones. Coke sale after nine months were higher by 3.8% than the quantity realized a year earlier and amounted to more than 3.1 million tons.