9,374.20 TL BIST 100 BIST 100
31.10 $ USD USD
€33.71 EUR EUR
26,590.00 TL Interest Interest
81.25 $ Fossil Oil Fossil Oil
22.84 $ Silver Silver
3.88 $ Copper Copper
118.72 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,032.54 TL Gold (gr) Gold (gr)

Poland's JSW's net profit meets expectations

Poland's JSW, the European Union's largest producer of coking coal, has posted a 2022 net profit of 7.56 billion zlotys ($1.74 billion), an increase of more than 700% y-o-y.

Poland's JSW's net profit meets expectations

The company said on Tuesday that Poland's JSW, the European Union's largest producer of coking coal, posted a more than 700% y-o-y increase in 2022 net profit to 7.56 billion zlotys ($1.74 billion), an increase slightly above analysts' forecast.

Revenue increased by 90% y-o-y to 20.20 billion zlotys, reaching 10.56 billion zlotys compared to 2.48 billion zlotys a year earlier.

The results were supported by a increase in coal prices, which reached record highs after the Polish government imposed a ban on imports of Russian coal in response to Russia's invasion of Ukraine.

The company will not propose to pay dividends from 2022 net profit as it is against the terms of the liquidity and preferential loan agreements signed with the Polish Development Fund.

In 2022, the mining sector extracted a total of 14.1 million tons of coking and steam coal, 78% of which was coking coal, an increase of 2% compared to the previous year.

Initially, it had planned to increase annual production to about 14.5 million tons, but mining accidents reduced coal production.

According to the company's estimates, the latest accident, a fire at the Ruch Knurow mine, is said to have reduced this year's production output by about 0.3 million tons.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

India's steel exports soar amid EU demand and global trends

Monday, February 26, 2024

Scrap prices in Taiwan fall due to global market shifts

Monday, February 26, 2024

Major Merger in Pakistan's Steel Sector

Monday, February 26, 2024

26th February Türkiye wire mesh prices are announced

Monday, February 26, 2024

ÇEMTAŞ aims to reduce carbon emissions by 26% by the end of 2024

Monday, February 26, 2024
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now