Europe's largest coking coal producer Poland-based Jastrzebska Spolka Weglowa SA (JSW) has announced its unaudited financial results for 2015, registering a net loss of PLN 3.16 billion ($800.5 million) compared to a net loss of PLN 657.1 million in 2014, while its sales revenues increased by 1.76 percent year on year to PLN 6.93 billion ($1.75 billion).
Meanwhile, in the fourth quarter of 2015 JSW produced more than 4.42 million mt of coal, including 2.80 million mt of coking coal. In the given quarter, the company’s coal sales to external customers surged by more than 25 percent quarter on quarter to over 3.30 million mt.
At the end of the fourth quarter last year, JSW's coal inventories fell by more than 300,000 mt quarter on quarter.
In addition, in the coke segment, production in the fourth quarter was kept at levels similar to those in the third quarter. Coke sales, however, declined by more than 11 percent compared to the sales recorded in the previous quarter, causing the segment’s revenues to decline also by 11 percent.