Polish JSW produced 2.3 million tons of coke in January-September

The company maintains stable production of coking coal and coke, but low prices limit financial results

Jastrzębska Spółka Węglowa (JSW), the EU’s largest producer of coking coal, is showing stable production figures despite unfavorable market conditions. In January-September 2025, the company produced 2.30 million tons of coke, according to a press release.

Coal production during this period reached 9.52 million tons, the majority of which was coking coal, a strategic raw material for the steel industry.

The company also reported a 19% year-on-year increase in coal sales. However, the effect of the increase in volumes is offset by a significant drop in prices for key products. The average price of coking coal fell by 27% year-on-year, and coke by 26% year-on-year.

Weak demand in the European metallurgical industry, increased competition from Asian suppliers, and currency fluctuations are directly affecting JSW’s financial results. In the first nine months of 2025, the group’s revenue amounted to PLN 7 billion. EBITDA remains negative at nearly PLN -1.4 billion, while the net loss reached PLN 2.9 billion. The result was also affected by a loss from impairment of fixed assets in the amount of PLN 648 million related to the situation at the Knurów-Szczygłowice mine.

To stabilize the situation, the company is implementing a large-scale restructuring plan that includes cost optimization, financial restructuring, and government support. JSW expects these measures to maintain competitiveness and lay the foundation for restoring business stability in the coming years.

As a reminder, JSW announced the start of preparatory work for a large-scale business restructuring. The management board’s decision of October 11, 2025, aims to improve the difficult liquidity situation and ensure financial stability in the short and medium term.