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JSW SAJSW coal posts net loss of PLN 1.363 bln in Q1 2025, in line with estimates
Listed coking coal group JSW's net loss amounted to PLN 1.363 billion (EUR 320.7 mln) in the first quarter of 2025, against a PLN 9.7 million (EUR 2.3 mln) net loss in the prior year period, JSW said in its consolidated quarterly report. The group's revenues reached PLN 2.438 billion (EUR 573.66 mln), down from PLN 3.414 billion (EUR 803.3 mln) in the first quarter of 2024. The results are in line with earlier estimates.
Moreover, the group recorded an operating loss of PLN 1.574 billion (EUR 370.36 mln), against an EBIT of PLN 48.3 million (EUR 11.36 mln) in the prior year period.
As reported, JSW's result was significantly impacted by the recognition of a PLN 648 million (EUR 152.5 mln) impairment loss on non-financial fixed assets, related to the January fire at the Knurow-Szczyglowice Ruch Szczyglowice mine.
EBITDA loss amounted to PLN 1.227 billion (EUR 288.7 mln) versus a PLN 532.1 million (EUR 125.2 mln) profit in the prior year period.
Adjusted EBITDA loss (excluding non-recurring events) stood at PLN 545.5 million (EUR 128.36 mln) against a profit of PLN 572 million (EUR 124 mln) in the same period of last year.
The group's net operating cash flow for the first quarter was negative at minus PLN 593.1 million (EUR 139.56 mln) compared to positive cash flow of PLN 471.9 million (EUR 111.04 mln) a year earlier.
"We are operating in a difficult and demanding market, which is why we are consistently implementing a Strategic Transformation Plan aimed at improving operational efficiency, reducing costs and increasing the company's business resilience," said JSW's deputy CEO Adam Rozmus, quoted in the press release.
"The first effects of these actions are already visible. We are introducing changes where it is possible and reasonable, while being aware that many factors - such as global commodity prices, the unfavourable exchange rate of the dollar or complicated geological conditions - remain beyond our influence," he added.
In the first quarter of 2025, the JSW group spent almost PLN 1 billion (EUR 235.3 mln) on investments in cash terms, up by 14.4 percent quarter on quarter.
As reported, these were mainly expenditures on investments related to the opening of new deposits and mining levels, as well as the modernisation of coal mechanical processing plants.
Since November 2024, JSW has been implementing the Strategic Transformation Plan (PST). In addition to increasing production, cost-saving projects are also being carried out.
"In the area of procurement, the PST measures have resulted in real savings of more than PLN 307 million by May 22 this year, which is 85 percent of the target amount for 2025. In the case of investments, savings of over PLN 1.2 billion have already been made," JSW's deputy CEO Remigiusz Krzyzanowski reported.
pel/ mcb/ ao/
