RESULTS AFTER 3 QUARTERS: FINANCES

Although in the first three quarters of 2015 total income was almost 1bn PLN higher than in the same period of 2014, the total loss has tripled. Slightly lower costs in the face of dropping prices were not enough to save the unit sales revenue, which experienced drastic decrease (0.46 PLN/Mt in 2014, -34.42 PLN/Mt in 2015). Among all the domestic producers only LW Bogdanka managed to generate net profit (132.1m PLN).

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Net loss for the 9 months of 2015 accounted for 75% of the total loss in 2014, which suggest that until 31st December the amount of total loss will reach the level from last year. For three years now, Polish coal mining sector is running red (figures expressed in m PLN):

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In whole analyzed period, domestic mining industry went green only once – in August, when coal consumers decided to make prepayments for steam coal ordered for next year:

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