Jastrzebska Spolka Weglowa S.a. · GPW:JSW

Jastrzebska Spolka Weglowa — Jastrzębska Spółka Węglowa — Q1 2024 Earnings Presentation

37 slides from Jastrzebska Spolka Weglowa's earnings presentation, May 2024

  1. Slide 1: Results of the JSW Group for Q1 2024

    RESULTS of the JSW Group for Q1 2024 May 2024 Jastrzębska Spółka Węglowa www.jsw.pl

  2. Slide 2: Disclaimer

    Disclaimer This presentation has been prepared by Jastrzębska Spółka Węglowa S.A. (“Company”). The contents of this Presentation have been prepared with due care based on the facts and information from the sources deemed reliable by the Company. This presentation is for information only and should n

  3. Slide 3: Agenda

    Agenda Section Title Presented by I. Introduction Ryszard Janta II. JSW Group highlights Ryszard Janta III. JSW Group’s operating results Adam Rozmus IV. Market environment Jolanta Gruszka V. JSW Group’s investments Adam Rozmus VI. JSW Group’s financial highlights Remigiusz Krzyżanowski VII. Q&A JSW

  4. Slide 4: JSW Group highlights

    JSW Group highlights Q1 2024 vs. Q4 2023 Coal Coke Active MCC production production longwalls 3,133.9 thous. t 829.6 thous. t 21.3 737.69 PLN/t vs. vs. vs. vs. -7.5% -5.1% 874.6 thous. t in Q4 2023 -9.0% 23.4 in Q4 2023 +8.6% 679.52 PLN/t in Q4 2023 3,388.5 thous. t in Q4 2023 Sales Average price of

  5. Slide 5: Operating results of the JSW Group

    Operating results of the JSW Group Jastrzębska Spółka Węglowa www.jsw.pl

  6. Slide 6: Coal and coke production

    Coal and coke production Coal production Active longwalls [000 tons] [number] -7.5% -9.0% 3,382.1 3,388.5 3,133.9 722.8 698.7 728.2 23.4 21.3 2,659.3 2,689.8 2,405.7 20.3 Q1 2023 Q4 2023 Q1 2024 Q1 2023 Q4 2023 Q1 2024 Steam coal Coking coal Corridor works Coke production [running meters] [000 tons]

  7. Slide 7: Market environment

    Market environment Jastrzębska Spółka Węglowa www.jsw.pl

  8. Slide 8: Market trends

    Market trends Q1 2024 vs. Q4 2023 ratio comparison Steel production Steel prices on the European market [m tons] [EUR/t] 431.2 469.1 718.7 650.1 606.2 632.7 30.3 33.0 World EU Steel prices on the European market Steel prices on the European market - HRC – rods Coking coal spot prices* Coke prices**

  9. Slide 9: Prices of JSW's products in relation to market prices

    Prices of JSW’s products in relation to market prices Prices of JSW coking coal in relations to JSW’s coke prices in relation to prices of Premium Low Vol prices [USD/t] blast-furnace coke on the European market [USD/t] 92% 97% 97% 87% 80% 88% 92% 76% 88% 98% 330 443 430 306 303 415 296 294 410 407

  10. Slide 10: Sales of coal produced in the JSW Group

    Sales of coal produced in the JSW Group Sales of coal to external customers Revenues on sales of coal to external customers* [000 tons] [PLN m] 2,497.1 -11.7% 2,181.6 2,720.9 -10.7% 726.7 1,926.4 559.7 1,976.0 1,764.8 721.9 474.5 442.0 230.2 1,770.4 2,161.2 1,459.7 1,451.9 1,534.0 1,534.6 Q1 2023 Q4

  11. Slide 11: Sales of coke

    Sales of coke Sales of coke to external customers Average coke sales price [000 tons] [PLN/t] +25.1% +2.8% 986.7 1,589.65 1,370.87 840.0 788.6 1,333.26 Q1 2023 Q4 2023 Q1 2024 Q1 2023 Q4 2023 Q1 2024 Revenues on sales of coke and hydrocarbons to external customers* [PLN m] +25.2% 1,546.0 1,480.8 1,1

  12. Slide 12: Inventory of coal and coke

    Inventory of coal and coke Inventory of coal produced in the JSW Group Inventory of coke produced in the JSW Group as at [000 tons] as at [000 tons] +10.8% -53.9% 843.9 285.7 771.5 761.6 624.4 179.3 194.0 148.4 131.7 456.1 31-Mar-2023 30-Jun-2023 30-Sep-2023 31-Dec-2023 31-Mar-2024 31-Mar-2023 30-Ju

  13. Slide 13: Investments of the JSW Group

    Investments of the JSW Group Jastrzębska Spółka Węglowa www.jsw.pl

  14. Slide 14: JSW Group's investments

    JSW Group’s investments Capital expenditures in the JSW Group* Capital expenditures in the JSW Group** Accrual basis [PLN m] Cash basis [PLN m] 1,539.6 104.8 945.3 1,067.6 166.5 17.9 45.7 188.4 1,178.2 1,322.9 105.8 1,268.3 1,043.6 793.8 861.3 Q1 2023 Q4 2023 Q1 2024 Q1 2023 Q4 2023 Q1 2024 Coal seg

  15. Slide 15: JSW Group's financial highlights

    JSW Group’s financial highlights Jastrzębska Spółka Węglowa www.jsw.pl

  16. Slide 16: Financial highlights of the JSW Group

    Financial highlights of the JSW Group Sales revenues EBITDA net of non-recurring events [PLN m] [PLN m] +2.3% 1,956.0 -23.9% 699.5 1,965.4 532.1 4,458.4 3,338.8 3,414.8 877.7 572.0 Q1 2023 Q4 2023 Q1 2024 Q1 2023 Q4 2023 Q1 2024 xx.x EBITDA Net working capital (incl. FIZ) Net result [PLN m] [PLN m]

  17. Slide 17: Change in sales revenues in the JSW Group

    Change in sales revenues in the JSW Group Q1 2024 vs. Q4 2023 [PLN m] 37.1 (24.5) 19.2 (8.2) (155.4) 264.1 3,414.8 3,338.8 (56.3) Sales revenues Impact of coking coal Impact of coking coal Impact of steam coal Impact of change in Impact of coke sales Impact of coke price Impact of revenues Sales rev

  18. Slide 18: EBITDA drivers Q1 2024 vs. Q4 2023

    EBITDA drivers Q1 2024 vs. Q4 2023 JSW Group [PLN m] 73.0 125.8 (24.5) (431.9) 301.2 (200.7) 39.9 699.5 (10.3) 572.0 532.1 EBITDA Impact of coal sales Impact of coke sales Other sales Impact of costs by Impact of the result of Other Impact of depreciation EBITDA Non-recurring events EBITDA Q1 2024 Q

  19. Slide 19: Impact of operating segments on EBITDA

    Impact of operating segments on EBITDA Q1 2024 vs. Q4 2023, JSW Group [PLN m] (316.2) 39.9 44.1 83.0 21.7 699.5 572.0 532.1 EBITDA Change in coal Change in coke Change in other Change in EBITDA EBITDA Non-recurring events EBITDA Q1 2024 Q4 2023 segment EBITDA segment EBITDA segment EBITDA of consoli

  20. Slide 20: JSW Group's financial highlights

    JSW Group’s financial highlights From assets to net working capital as at 31 March 2024 [PLN m] Current liabilities [PLN 4,976.5 m] 576.1 3,052.4 1,056.4 291.8 13,450.7 25,704.9 20,728.4 225.3 7,589.6 (647.2) Assets Loans and Trade and other Other current Current Fixed Property, plant Intangible Oth

  21. Slide 21: JSW Group's financial highlights

    JSW Group’s financial highlights Net working capital as at 31 March 2024 [PLN m] 14.6 576.1 332.0 246.7 1,736.2 0.3 424.7 1,628.2 3,052.4 950.0 291.8 52.8 (647.2) Inventories Trade and Income tax Cash and Other current Loans and Employee benefit Lease FIZ Trade and Current Other current Net working

  22. Slide 22: JSW Group's expenses by nature

    JSW Group’s expenses by nature net of cost of materials and goods sold [PLN m] Largest declines Q1 2024 vs. Q4 2023 -3.1% in the following items: 4,015.9 External services 85.6 3,890.1 3,641.7 106.9 (PLN -99.5 m) 91.0 Materials 1,714.2 (PLN -91.9 m) 1,748.9 1,654.5 705.1 531.3 605.6 320.8 279.6 299.

  23. Slide 23: Cost change drivers, by type, in the JSW Group

    Cost change drivers, by type, in the JSW Group Q1 2024 vs. Q4 2023 net of cost of materials and goods sold [PLN m] (10.3) (91.9) 19.9 21.3 (99.5) 34.7 4,015.9 3,890.1 Costs by nature Depreciation and Consumption Consumption External Employee Other costs Costs by nature Q4 2023 amortization of materi

  24. Slide 24: Unit Mining Cash Cost

    Unit Mining Cash Cost Q1 2024 vs. Q4 2023 [PLN/t] 55.22 7.81 (2.95) 10.04 (11.25) (27.98) 27.28 737.69 679.52 Q4 2023 Consumption Consumption External Employee Taxes and Other costs Impact of Q1 2024 of materials of energy services benefits charges by nature volume Jastrzębska Spółka Węglowa www.jsw

  25. Slide 25: Unit Cash Conversion Cost

    Unit Cash Conversion Cost Q1 2024 vs. Q4 2023 [PLN/t] (2,67) 3,90 (17,14) (18,93) (8,07) 0,15 18,27 337,03 2,79 (7,33) 308,00 Q4 2023 Consumption Consumption External services Employee Taxes Other costs Administrative Selling and Impact Q1 2024 of materials of energy net of transport costs benefits

  26. Slide 26: Mining Cash Cost, Cash Conversion Cost

    Mining Cash Cost Cash Conversion Cost Mining Cash Cost Cash Conversion Cost [PLN m] [PLN m] +8.6% -8.6% 679.52 737.69 337.03 638.90 308.00 290.10 2,160.8 2,302.5 2,311.8 294.7 224.2 255.5 Q1 2023 Q4 2023 Q1 2024 Q1 2023 Q4 2023 Q1 2024 xx.xx Unit Mining Cash Cost [PLN/t] xx.xx Unit Cash Conversion C

  27. Slide 27: JSW Group's financial highlights

    JSW Group’s financial highlights Fixed capital to non-current assets ratio Equity + Non-current liabilities / Non-current assets 1.42 1.35 1.32 1.17 1.26 1.05 1.01 0.94 0.97 0.89 31-Mar-2023 30-Jun-2023 30-Sep-2023 31-Dec-2023 31-Mar-2024 Net debt Loans, borrowings and leases – cash at the end of th

  28. Slide 28: JSW Group's cash flows

    JSW Group's cash flows [PLN m] 172.1 221.9 (293.8) 483.8 (134.0) 21.9 (1,259.1) 102.7 (216.5) 53.6) 2,690.8 1,736.2 Cash at the end of Profit/(loss) Depreciation and Change in Change in Change in Other operating Investing Repayment of loans Lease Other financing Cash at the end of 31 December 2023 b

  29. Slide 29: Q&A

    Q&A Jastrzębska Spółka Węglowa www.jsw.pl

  30. Slide 30: Appendices

    Appendices Jastrzębska Spółka Węglowa www.jsw.pl

  31. Slide 31: Impact exerted by non-recurring events on JSW Group's EBITDA

    Impact exerted by non-recurring events on JSW Group’s EBITDA [PLN m] Q1 2023 Q4 2023 Q1 2024 Sales revenues 4,458.4 3,338.8 3,414.8 EBIT 1,574.5 205.4 48.3 EBITDA 1,956.0 699.5 532.1 Impact of non-recurring events on results 9.4 178.2 39.9  award and additional one-time bonus at JSW (20.7)  one-ti

  32. Slide 32: Production, external sales, inventories of coal and coke

    Production, external sales, inventories of coal and coke produced in the JSW Group [000 tons] Change Change Item Q1 2023 Q4 2023 Q1 2024 Q1 2024/ Q1 2024/ Q4 2023 Q1 2023  Coking coal production 2,659.3 2,689.8 2,405.7 -10.6% -9.5%  Steam coal production 722.8 698.7 728.2 4.2% 0.7%  Coke producti

  33. Slide 33: Mining Cash Cost

    Mining Cash Cost [PLN m] Change Change Item Q1 2023 Q4 2023 Q1 2024 Q1 2024/ Q1 2024/ Q4 2023 Q1 2023  Consumption of materials and energy 572.1 558.8 548.0 -1.9% -4.2%  External services 445.4 619.0 531.3 -14.2% +19.3%  Employee benefits 1,086.5 1,081.7 1,167.3 +7.9% +7.4%  Taxes and charges 38

  34. Slide 34: Cash Conversion Cost

    Cash Conversion Cost [PLN m] Change Change Item Q1 2023 Q4 2023 Q1 2024 Q1 2024/ Q1 2024/ Q4 2023 Q1 2023  Consumption of materials net of coal feedstock 31.8 28.3 26.1 -7.8% -17.9%  Energy consumption 22.6 24.7 27.9 13.0% 23.5%  External services net of transport costs of coal feedstock 64.3 90.

  35. Slide 35: Economic position

    Economic position [PLN m] Change Item 31 March 2023 30 June 2023 30 Sep 2023 31 Dec 2023 31 March 2024 31 March 2024/ 31 Dec 2023 ASSETS 28,113.1 28,954.3 30,434.4 27,793.8 25,704.9 -7.5% Non-current assets 19,581.1 21,176.1 22,758.4 22,095.9 21,375.6 -3.3% - Property, plant and equipment 11,015.0 1

  36. Slide 36: Asset financing sources

    Asset financing sources [PLN m] Change Item 31 March 2023 30 June 2023 30 Sep 2023 31 Dec 2023 31 March 2024 31 March 2024/ 31 December 2023 EQUITY AND LIABILITIES 28,113.1 28,954.3 30,434.4 27,793.8 25,704.9 -7.5% Equity 17,320.3 18,063.8 16,823.9 16,971.7 16,962.3 -0.1% Non-current liabilities 3,2

  37. Slide 37: Aleja Jana Pawła II 4 44-330 Jastrzębie-Zdrój

    Aleja Jana Pawła II 4 44-330 Jastrzębie-Zdrój tel.: +48 32 756-41-13 fax: +48 32 476-26-71 www.jsw.pl jsw@jsw.pl relacje@jsw.pl Jastrzębska Spółka Węglowa www.jsw.pl

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