JSW struggles to stay afloat

Jastrzębska Spółka Węglowa (JSW), Europe’s largest coking coal producer, is battling a severe liquidity crunch. In the first half of 2025, the group reported a net loss of PLN 2.08 billion versus PLN 712 million a year earlier, while EBITDA slumped to –PLN 911 million from a profit of PLN 829 million. Revenue slid nearly 24% to PLN 4.71 billion.