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JSW miner's net loss for Q1 is 1.36 billion zlotys in line with expectations

JSW, a Polish coal miner, reported a net loss of 1.36 billion Zlotys ($363.24m) for the first three months of the year. This is mainly because of a one-off decrease in the value assets.

The results were in line with the preliminary data that was reported by the company back in May.

Why it's important

JSW is Europe's largest producer for coking coal. Coking coal is a critical raw material on the EU list, and it's essential to steel production.

CONTEXT

A write-down of $648 million zlotys (about $172.45 million) was made on the value of assets at KWK Knurow. A methane explosion occurred in the mine in January of this year.

By the Numbers

JSW's first-quarter sales revenue fell by 28.6% on an annual basis to 2.44 billion Zlotys. This was primarily because of lower sales of coal and coke, and higher mining cash costs (MCC).

The company reported an EBITDA loss of 1.23 billion Zlotys, compared to a core profit of 532.11 million Zlotys in the same period of 2024.

(source: Reuters)