Jastrzebska Spólka Weglowa SA, or JSW, on March 12 posted a net profit of 2.54 billion Polish zlotys for 2017, surging from 4.4 million zlotys in 2016 thanks to a 65% rise in the average coking coal price.
Revenue soared 38% on a yearly basis to 4.9 billion zlotys, and EBITDA shot up nearly 270% to 3.9 billion zlotys.
The Polish coal miner produced 14.8 million tons of coal comprising 10.7 million tons of coking coal and 4.1 million tons of steam coal.
Group unit mining cash cost were 24.3% higher on a yearly basis at 312.54 zlotys per ton due to higher CapEx for coal production as well as 507.9 zlotys million in additional employee benefits.
The company redeemed 419.5 million zlotys and US$64 million in bonds during the year.
As of March 12, US$1 was equivalent to 3.42 Polish zlotys.
