| |
MESSAGE _ENGLISH VERSION_ |
|
| |
Subject: Supervisory Board's approval of the update to the Jastrzębska
Spółka Węglowa S.A. Remedy Program for 2026-2035 including Subsidiaries,
with Operationalization and the redefinition of the strategic directions
set forth in the Strategy of JSW including JSW Group Subsidiaries for
2022-2030
Body of the report:
The Management Board of Jastrzębska Spółka Węglowa S.A. ["JSW,"
"Company," "Issuer"] hereby reports that on 28 September 2026, the
Company's Supervisory Board approved the Jastrzębska Spółka Węglowa S.A.
Remedy Program for 2026-2035 including Subsidiaries, with
Operationalization [Remedy Program], which sets the direction for JSW's
operations, organizes objectives, translates them into specific actions
and initiatives, and provides a foundation for responsible efforts to
build a stable future for the Company.
The Remedy Program is a response to the challenging market environment,
cost pressures and price volatility in the coking coal and coke markets.
The Remedy Program was developed based on an analysis of JSW's current
internal situation as well as its external environment, and is aimed at
restoring financial and operational stability, improving efficiency and
creating a solid foundation for the Company's continued operations,
including in the long term.
The cornerstone of the Remedy Program is a focus on JSW's core business
- the production of coking coal, which remains the Company's key product
and a source of its strategic value - as well as the restoration of full
cost and operational discipline.
The Remedy Program encompasses initiatives in a number of areas,
including: Mining and Production Costs, Investments, Energy,
Procurement, HR and Compensation, Sales, Non-Operating Asset Management,
Finance and Coking.
The Company's activities will focus, among other things, on:
1] stabilizing production volume, including increasing the share of
coking coal in total production;
2] rationalizing and controlling expenditures on investments in
property, plant and equipment, expensable mining pits and longwall
outfitting;
3] increasing auto-production of electricity in cogeneration plants;
4] managing procurement, logistics and warehouse inventory in a manner
that ensures production continuity and minimizes costs; implementing a
comprehensive assessment of the costs of utilization of materials and
machinery; and establishing centralized inventory control and management
to enable the reuse of new and partially used components across mines;
5] continuing to implement safety net measures from the Act on the
Functioning of the Mining Industry [miners' leave and leave for
employees of Coal Preparation Plants, as well as one-off cash severance
payments] and optimizing the workforce structure and costs;
6] maintaining existing markets and securing new ones for coking coal
and coke while ensuring optimal sales terms;
7] selling selected JSW Group properties and reducing real estate
management and maintenance costs;
8] processes related to optimizing the structure of the JSW Group,
including potential divestitures of selected assets;
9] securing financing in the amount of PLN 2.9 billion, renegotiating
the terms of existing financing;
10] in the coking sector: increasing coke production levels, business
restructuring, rationalization and control of capital expenditures,
optimization of coke oven gas management and alignment of staffing
levels and costs with target efficiency metrics.
Attached to this report, the JSW Management Board is releasing the key
parameters of the Remedy Program to the public.
In addition, the Company's Management Board hereby reports that,
following the Supervisory Board's approval of the Jastrzębska Spółka
Węglowa S.A. Remedy Program for 2026-2035 including Subsidiaries, with
operationalization, the strategic objectives set forth in the Strategy
of JSW including JSW Group Subsidiaries for 2022-2030 referred to in
Current Report No. 6/2022 dated 25 February 2022, have been redefined.
During the period covered by the Program, its assumptions will apply. In
addition, the JSW Group's environmental goal of reducing its carbon
footprint _Scopes 1 and 2_ by 30% by 2030 compared to 2018 remains in
place. The approach to achieving this goal and the other environmental
goals will be reformulated by the end of 2027 at the latest.
Legal basis: Article 17_1_ of Regulation _EU_ No. 596/2014 of the
European Parliament and of the Council of 16 April 2014 on Market Abuse
and Repealing Directive 2003/6/EC of the European Parliament and of the
Council and Commission Directives 2003/124/EC, 2003/125/EC and
2004/72/EC.
|
|
|
RB-W: Zatwierdzenie przez Radę Nadzorczą aktualizacji "Programu Naprawczego Jastrzębskiej
Spółki Węglowej S.A. na lata 2026-2035 z uwzględnieniem Spółek zależnych z operacjonalizacją"
oraz redefinicja kierunków strategicznych określonych w "Strategii JSW z uwzględnieniem
spółek zależnych GK JSW na lata 2022-2030"
