JSW provides 1H21 results
Published by Jessica Casey,
The JSW Group has announced that it significantly improved its results in 1H21. Both metallurgical coal and coke production and sales increased, which translated into higher sales revenues.
In 1H21, total coal production stood at 6.8 million t (including 5.5 million t of metallurgical coal) while coke production was 1.8 million t. In 1H21, the group posted a net loss of PLN 330.5 million, compared to a net loss of PLN 973.8 million the year before. EBITDA for 1H21 (net of non-recurring events) was PLN 339.4 million.
The prices of metallurgical coal and coke for 1H21 were PLN 416.86/t and PLN 1009.77/t, respectively. In 1H21, sales revenues stood at nearly PLN 4.2 billion, i.e. 22% more than in the corresponding period of 2020. This resulted from higher revenues from the sales of coal, coke and hydrocarbons.
“At present, we focus primarily on efforts to ensure stable production and deliveries to our customers,” said Stanislaw Prusek, acting President of the Management Board of JSW.
The total sales of coal mined in the group's mines stood at 7.6 million t, which is over 20% more than in the same period last year. Revenues on coal sales to external customers for the period of 6 months of 2021 were PLN 1.8 billion, up 6% from the same period last year. The increase is caused by the higher coal sales volume by 23.8%, despite the lower actual average sales prices of metallurgical coal and steam coal. In the same periods revenues on coal and hydrocarbon sales to external customers were PLN 2.1 billion, up by more than 41% from the same period of 2020, driven mainly by the 21% increase in the average coke sales prices.
Read the article online at: https://www.worldcoal.com/coal/23082021/jsw-provides-1h21-results/
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