Kompania Węglowa to break even in three years
Poland’s largest coal mining company Kompania Węglowa (KW) is likely to regain profitability within the next three years, the firm’s CEO Mirosław Taras said on Friday. In 2014 and the following two years it will continue to generate losses.
Over that time the company should be able to regain financial liquidity and market presence, Taras said. “If we manage to do that, the situation will improve and, thanks to that, we will be able to generate a net profit in three years time,” the CEO explained.
Currently KW is working to regain liquidity and is in need of capital. There are several funding options, Taras said. The company is about to finish talks on the sale of the Knurów-Szczygłowice mine to Jastrzębska Spółka Węglowa. It is also mulling a euro-denominated bond issue.
