JSW Capital Group closed the year 2015 with a net loss in the amount of PLN 3 285.2 mln, which was mainly due to impairment value of the assets. It is worth noting that after 9 months of 2016 JSW Group had a loss of PLN 286.4 mln, but for the whole of 2016 made a profit  of PLN 4.4 million. The result  of JSW alone was even better, because in 2016 the company generated a net profit of PLN 372 mln. JSW Group EBITDA in 2015 was negative (including provisions) and amounted to PLN  -2 533.1 mln. In 2016 it was positive and increased to PLN 1 065.4 mln.

In 2016, JSW mines produced 16.8 mln tons of coal (3.1 percent more than in 2015), including 11.6 mln tons of coking coal and 5.2 mln tons of steam coal. Total sales of JSW coal amounted to 17.2 mln tons which is 3.6 percent more than in 2015 (sales of coking coal increased by 0.7 mln tons and steam coal fell by 0.1 mln tons).

Last year's coal sale revenues reached the level of PLN 3 551.6 mln and were higher by 3 percent than those obtained in 2015. This was possible thanks to the increase of production volume of coking coal and selling it at higher prices. In the fourth quarter, the average price of JSW coking coal increased by 82.2 percent when compared to the third quarter. Throughout the year, the price of coking coal increased by 5.3 percent compared to the previous year, while the price of coal for energy production fell by 12.1 percent.

- The reason for the dynamic growth of spot prices in the third and fourth quarter of 2016 were mainly restrictions on the supply resulting from the introduction of mining regulation in China, the notice of force majeure in Australia and closing mines in the US, this has led to short-term cumulative shortage of coking coal in the global market but at the end of the year we have seen a reversal of this trend. The deficit of coking coal  quickly disappeared from market, and prices began to normalize. We also have to return to normality, the company needs a long-term action strategy that will prepare us for the difficult times, to cope on an unstable and rapidly changing market for coal and coke. Work on it has already begun - emphasizes Daniel Ozon, Acting CEO of JSW.

In 2016, coking plants belonging to the JSW Group produced and sold 4.1 million tons of coke. In comparison with 2015 coke production fell by 2.4 per cent., and its sales to external customers increased by 2.5 percent. Revenues from the sale of coke and coal derivatives, in the period reached PLN 2 822.7 mln and were lower by 7.5 percent than in 2015. Lower revenues in the coke segment were the result of the difficult situation in the steel and coke segment and a decrease of 10 percent of coke prices from sales to external customers.