JSW reports high losses

Jastrzębska Spółka Węglowa (JSW), the largest producer of high-quality coking coal in the European Union, has once again reported high losses for 2025. At the same time, the Polish government approved a support programme to stabilize the state-controlled mining company. JSW recorded an estimated EBITDA loss of PLN 4.989 billion in 2025, the equivalent of around EUR 1.174 billion. In 2024, the company had still achieved a positive EBITDA of PLN 396 million. The net loss in 2025 was PLN 6.255 billion, compared to a loss of PLN 7.242 billion in the previous year. Revenue fell from PLN 11.326 billion in 2024 to PLN 9.408 billion. Production increases slightly Despite the difficult financial situation, JSW increased its coal production. Total production in 2025 was 13.0 million tons, compared to 12.25 million tons in the previous year. Coking coal production rose from 9.92 million tons to 11.0 million tons. At the same time, the production of steam coal fell from 2.33 million tons to 2.0 million tons. Coke production also increased slightly. It reached 3.15 million tons, compared to 3.06 million tons in 2024. JSW had already lowered its production forecast for 2026 at the beginning of April. The company now anticipates around 13.3 million tons of coal instead of the 13.5 million tons expected in November 2025. The reasons for this include delays in the commissioning of the N-9 longwall face at the Pniówek mine. Government adopts support program On 28 April, the Polish cabinet approved a new program entitled "Support program for the hard coal coking sector in Poland - protective measures" in order to cushion the company's tense situation. The program is to run from 2026 to 2031 and will primarily facilitate the restructuring of the workforce. According to the Ministry of State Property, it includes protective measures for JSW employees, including miners' leave, special leave for employees of coal preparation plants and one-off severance payments. The ministry said that the adoption of the program is necessary for JSW to use relevant support mechanisms. The aim is to cushion the costs of the job cuts and provide social support for the restructuring of the company. The post JSW reports high losses appeared first on ostwirtschaft.de.