X Continue

Cookie file regulations.
A system of cookie files is in place on our website to ensure top-quality services suited to your individual needs. If you use the website without adjusting your cookies settings, cookie files will be stored on your device. Cookie settings may be changed at any time. For more information, see our Cookies Policy.

Lubelski Węgiel
Lubelski Węgiel Bogdanka S.A.

Bogdanka’s beginning of the year in line with expectations

Friday, 2021-05-28

 

Lubelski Węgiel Bogdanka S.A. has published its financial results for the first quarter of 2021 The LW Bogdanka Group’s revenue grew in that period by 17.2% to PLN 543.7 million from PLN 464.1 million a year before. EBITDA was PLN 170.2 million, operating profit – PLN 64.5 million, and net profit – PLN 50.3 million.

The production of commercial coal in the period under discussion amounted to 2.6 million tonnes, and sales – 2.4 million tonnes.

The beginning of the year was characterized by an increased demand for coal, which is why we made every effort to maximize the level of production and sales in the first quarter of 2021. The results we achieved were so good thanks to the intense work of the employees as well as the optimized wall run system and timetable. Although the beginning of the year was optimistic, the Company is going to maintain the production plan for 2021 at the level of about 9 million tonnes. Artur Wasil – President of the Management Board of Lubelski Węgiel Bogdanka S.A.

In the first quarter of 2021 LW Bogdanka S.A. drilled 5.3 km of roadway excavations. The average yield amounted to 72.3% in comparison to 65.7% the year before.

The Company has maintained its strong market position by increasing its share in the sales of coal to commercial power plants to the level of 27.4%. The share in total thermal coal sales accounted for 22.7%.

About 84% of coal sales (in terms of value) in the first quarter of 2021 were effected between LW Bogdanka S.A. on one side and Enea Wytwarzanie sp. z o.o., Enea Elektrownia Połaniec S.A. and Grupa Azoty Zakłady Azotowe Puławy S.A. on the other.

In the first quarter of 2021, the LW Bogdanka Group’s capex amounted to almost PLN 71.9 million. The largest portion of this sum, i.e. PLN 42 million, was used for new excavations and modernisation of the existing ones.

We are happy with Bogdanka’s results for the first quarter of 2021. The financial results are to the largest extent attributable to a high level of coal production and sales. The production level of 2.6 million tonnes is, historically speaking, the Company’s highest quarterly result. Further, the level of sales, i.e. 2.4 million tonnes, corresponds to the level achieved in the analogous period of 2019 (2.4 million tonnes), which, in terms of results, was a record-breaking period in the Company’s history (EBIDA PLN 222.9 million). Artur Wasilewski – Vice-President of the Management Board of Lubelski Węgiel Bogdanka S.A.

Financial results of the LW Bogdanka Group for Q1 2021 are presented in the table below:

in PLN '000

Q1 2020

Q1 2021

Change

  Net revenue on sales

464,081

543,675

+ 17.2%

  EBITDA

134,807

170,221

+ 26.3%

  EBIT

44,894

64,502

+ 43.7%

  Net profit

33,668

50,307

+ 49.4%


 

LW Bogdanka S.A. – Highlights

 

Lubelski Węgiel Bogdanka S.A. is the leader among hard coal producers in Poland, standing out in the industry in terms of modernity and efficiency of extraction. It is one of the largest hard coal mines in Poland. Lubelski Węgiel Bogdanka S.A. conducts primarily mining operations with respect to extraction, agglomeration and sale of hard coal. The Company supplies raw material mainly to industrial customers. Supplies are delivered based on long-term agreements with the sales made to commercial and industrial power sectors.

The Company has been listed on the Warsaw Stock Exchange since June 2009.

Since October 2015 Bogdanka has been part of the Enea Group, the second leading producer of electrical energy in the Polish power market, which manages a full value chain on the electrical energy market – from petrol, through production, distribution and sale of electrical energy, to customer service.

 
 

 

 

back
Calendar
Today is:
18 of October 2021
Name day of:
Hanny, Klementyny, Łukasza
© LW „Bogdanka” S.A. - 2021
Realization: Data Flow sp. z o.o.