Profil:
LW Bogdanka SABogdanka coal posts PLN 262.7 mln EBITDA in H1'24, in line with estimates
Listed coal mining group Bogdanka's revenue in H1 ‘24 was PLN 1,670.6 million (EUR 390.8 mln) and EBITDA was PLN 262.7 million (EUR 61.4 mln), the company said in a report. The results are in line with earlier estimates.
The net loss amounted to PLN 908 million (EUR 212.4 mln).
In mid-July, Bogdanka estimated net profit in H1 2024 at PLN 43.1 million (EUR 10.1 mln) and EBIT at PLN 42.2 million (EUR 9.9 mln).
At the end of August, it announced that it will write down the carrying value of assets in the first half of 2024 results in the amount of PLN 1.174 million (EUR 274.6 mln), which will charge the company's operating result. The write-down has no impact on EBITDA.
In the second quarter of 2024 alone, Bogdanka's revenue was PLN 854.7 million (EUR 199.9 mln), EBITDA was PLN 100.2 million (EUR 23.4 mln) and net loss was PLN 950.7 million (EUR 222.4 mln).
Commercial coal production totalled in the second quarter of 2024. 1.622 million tonnes (down 1.3 percent year-on-year) and sales of 1.871 million tonnes (up 26.4 percent).
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