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Poland's coking coal huge JSW bottom line broadens to 6.0 billion zlotys on write-downs

Poland's JSW, the European Union's. largest producer of highquality difficult coking coal, reported a Q2. bottom line of 6.0 billion zlotys ($ 1.6 billion) on Friday, mainly. due to lower earnings and writedowns worth 6.3 billion zlotys. WHY IT is necessary? JSW is a substantial producer of coke utilized in steel production. in the European Union. Coking coal has been included in the EU's. Important Raw Materials list, due to its relevance in environment. transition procedures. BY THE NUMBERS. Secondquarter net loss broadened to 6.0 billion zlotys after loss. of 780.6 million zlotys last year. Group profits came in at 2.76. billion zlotys, down 33.3% on the year.

JSW's quarterly operating earnings moved to 6.88 billion. zlotys, after around 6.8 billion zlotys of write-downs in the. coal and coke segments. CONTEXT. In the first 6 months of 2024, JSW concluded disability tests. revealing a requirement for write-down on its possessions in the coal and. coke sectors, which negatively affected the group's operating. outcomes.

Furthermore, an EGM will be voting on the continued. existence of one of JSW's greatest units, JSW Koks.

(source: Reuters)