Coal Energy S.A.
Coal Energy S.A. is a Luxembourg société anonyme registered with the Registre de Commerce et des Sociétés (RCS) Luxembourg under number B154144, incorporated on 12 July 2010. It was formed as the holding vehicle for a coal-mining group historically centred on Ukraine’s Donetsk region, ahead of an initial public offering on the Warsaw Stock Exchange (GPW). Coal Energy S.A. shares (ticker CLE, ISIN LU0646112838) have traded on the WSE Main Market since 8 August 2011, and the company remained listed there as of September 2026.
Historically, the group’s principal activity was the underground mining, beneficiation and processing of thermal and coking coal from ten mines and a waste-processing plant in the Donetsk basin, supplying Ukrainian power-generation and metallurgical customers; the company described itself as one of Ukraine’s largest private coal producers by reserves as of 2011.
Russia’s full-scale invasion of Ukraine from February 2022 has materially disrupted this business. Coal Energy S.A. reported no coal production or sales in the first quarter of its 2024 financial year because its Donetsk mining assets were inactive due to military operations, and a mine in the Toretsk area came under Russian control from February 2025. In the financial year ended 30 June 2025, the group sold its remaining Ukrainian mining subsidiaries, Ukrmineral Trading Ltd and Mine St. Matrona, and it no longer operates coal mines in Ukraine.
Since that divestment, Coal Energy S.A.’s reported operations have consisted mainly of mining services provided through its Polish subsidiary, Advanced Industrial Technologies sp. z o.o. In September 2025 the board approved an updated 2025-2027 strategy built around coal mining and mineral-extraction services in Poland and Romania, development of critical raw materials in Central and Eastern Europe, and consulting services for the minerals sector, alongside cooperation memoranda covering rare-earth and critical-metals prospects in Albania and anthracite deposits in Asturias, León and Palencia, Spain. The group reported consolidated revenue of USD 3.76 million for FY2025 (up 52.4% year on year) and a consolidated net profit of USD 4.12 million, reflecting gains on the Ukrainian asset sales, followed by a net loss of USD 1.46 million for the first nine months of FY2026.
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Shareholders
Shareholders of Coal Energy S.A.
Coal Energy S.A.’s share capital is disclosed through its Warsaw Stock Exchange filings rather than a public beneficial-ownership register. According to the company’s FY2025 annual/management report (financial year ended 30 June 2025, published 19 December 2025), Lycaste Holdings Limited, a company registered in Cyprus, held 27,074,189 shares of Coal Energy S.A., equal to approximately 55.98% of share capital and 58.74% of voting rights, out of 48,361,307 shares in issue. The remaining shares are held in free float across the Warsaw Stock Exchange and are not individually identified below the applicable notification thresholds.
Lycaste Holdings’ stake has changed over time. On 5 January 2022 the company disclosed that Lycaste Holdings transferred 6,684,155 shares (14.85% of capital) to managers and employees of the Coal Energy group, reducing its holding at that date from approximately 75% to 60.15%. The FY2025 figures above reflect further changes since that 2022 disclosure.
Ultimate beneficial ownership
Coal Energy S.A. and Lycaste Holdings Limited have each disclosed that Lycaste Holdings is owned in equal 50% shares by Viktor Vyshnevetskyy, Coal Energy S.A.’s Chairman and Chief Executive Officer, and Maryna Vyshnevetska. Multiplying this holding through Lycaste Holdings’ disclosed 55.98% stake in Coal Energy S.A. (FY2025 report, as of 30 June 2025) gives each of them a calculated effective ownership of approximately 27.99% of Coal Energy S.A. This is a calculated effective percentage rather than a directly filed UBO disclosure.
Data availability
Shareholder disclosure for Coal Energy S.A. is major-shareholders-only: filings identify holdings that cross Luxembourg and WSE notification thresholds, principally Lycaste Holdings Limited, but do not itemise the full free float. Country availability: Major shareholders only.
Officers
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Directors and officers of Coal Energy S.A.
Coal Energy S.A. is governed by a single Board of Directors rather than separate management and supervisory boards, consistent with its structure as a Luxembourg société anonyme. As listed on the company’s official website, the board comprises four directors: Viktor Vyshnevetskyy (Chairman of the Board of Directors and Chief Executive Officer), Arthur David Johnson (independent non-executive director), Oleksandr Reznyk (director and Business Development Director) and Diyor Yakubov (independent non-executive director, on the board since 2016). Mr Vyshnevetskyy founded the underlying Coal Energy group in the early 2000s and was appointed Chairman on 17 May 2011.
Nationality is not officially disclosed for any of the four directors in the sources reviewed and has not been inferred from names, addresses or country of residence. No recent board appointments, resignations or role changes have been identified beyond those noted above.
Data availability
Officer information for Coal Energy S.A. is drawn from the company’s own investor-relations pages and Warsaw Stock Exchange filings rather than a public Luxembourg officer register entry with full appointment history; individual appointment dates for Mr Johnson, Mr Reznyk and Mr Yakubov, and any resignation history, are not stated in the reviewed sources. Country availability: Partial.
Registry feed — rows exactly as filed with Luxembourg Business Register (LBR/RCS), including entries the profile above does not cover.
Group Structure
Group structure of Coal Energy S.A.
Coal Energy S.A. is not an independent company. Its immediate parent, per the company’s FY2025 annual/management report (financial year ended 30 June 2025), is Lycaste Holdings Limited, a Cyprus-registered company holding approximately 55.98% of Coal Energy S.A.’s share capital. Lycaste Holdings Limited is itself held by two named individuals rather than a further corporate parent, so no corporate ultimate parent above Lycaste Holdings has been identified.
Coal Energy S.A.’s only confirmed active subsidiary is Advanced Industrial Technologies sp. z o.o., a Polish company that provides mining and mineral-extraction services to coal-sector companies in Poland; this became the group’s main reported operating segment after the sale of its Ukrainian mining subsidiaries. Two former Ukrainian subsidiaries, Ukrmineral Trading Ltd and Mine St. Matrona, were sold by the group in the financial year ended 30 June 2025 and are no longer part of the corporate structure.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Lycaste Holdings Limited | Cyprus | Not disclosed | Immediate parent | 55.98% of share capital | Active | 30 June 2025 |
| Advanced Industrial Technologies sp. z o.o. | Poland | Not disclosed | Direct subsidiary | Ownership percentage not disclosed | Active | 30 June 2025 |
| Ukrmineral Trading Ltd | Ukraine | Not disclosed | Historical relationship (former subsidiary, sold) | Ownership percentage not disclosed | Divested | FY2025 (year ended 30 June 2025) |
| Mine St. Matrona | Ukraine | Not disclosed | Historical relationship (former subsidiary, sold) | Ownership percentage not disclosed | Divested | FY2025 (year ended 30 June 2025) |
Recent structural changes
The most material recent change is the sale of Ukrmineral Trading Ltd and Mine St. Matrona, the group’s remaining Ukrainian coal-mining subsidiaries, completed within the financial year ended 30 June 2025 as part of the group’s restructuring away from Ukraine-based coal mining.
Data availability
Group-structure information for Coal Energy S.A. is partial: the immediate parent and one active subsidiary are confirmed through the company’s own annual report and website, but registration numbers for these related entities and any downstream ownership within the Polish subsidiary are not disclosed in the sources reviewed. Country availability: Partial.
Registry feed — rows exactly as filed with Luxembourg Business Register (LBR/RCS), including entries the profile above does not cover.
LYCASTE HOLDINGS LIMITED
Cyprus
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Frequently Asked Questions
What is Coal Energy S.A.?
Coal Energy S.A. is a Luxembourg societe anonyme, registered with RCS Luxembourg under number B154144, that was created as the holding company for a coal-mining group historically based in Ukraine's Donetsk region and listed on the Warsaw Stock Exchange.
What is Coal Energy S.A.'s RCS Luxembourg registration number?
Coal Energy S.A. is registered with the Registre de Commerce et des Societes (RCS) Luxembourg under number B154144.
When was Coal Energy S.A. incorporated?
Coal Energy S.A. was incorporated in Luxembourg on 12 July 2010, ahead of its 2011 initial public offering on the Warsaw Stock Exchange.
What is Coal Energy S.A.'s legal form?
Coal Energy S.A. is a societe anonyme (S.A.), a Luxembourg public limited company.
Is Coal Energy S.A. still listed on the Warsaw Stock Exchange?
Yes. Coal Energy S.A. shares have traded on the Warsaw Stock Exchange (ticker CLE, ISIN LU0646112838) since 8 August 2011, and the company remained listed there as of September 2026, including new shares registered with KDPW and admitted to trading in September 2026.
What did Coal Energy S.A. historically do?
The group historically mined, processed and sold thermal and coking coal from ten underground mines and a waste-processing plant in Ukraine's Donetsk region, supplying Ukrainian power-generation and metallurgical customers.
Are Coal Energy S.A.'s Ukrainian coal mines still operating?
No. The company reported no coal production or sales from its Donetsk-region mines from early 2024 because of the war, a mine in the Toretsk area came under Russian control from February 2025, and the group sold its remaining Ukrainian mining subsidiaries, Ukrmineral Trading Ltd and Mine St. Matrona, during the financial year ended 30 June 2025.
Has Coal Energy S.A. sold its Ukrainian subsidiaries?
Yes. According to the company's FY2025 annual report, Ukrmineral Trading Ltd and Mine St. Matrona were both sold within the financial year ended 30 June 2025, and the group no longer operates coal mines in Ukraine.
What does Coal Energy S.A. do now?
Since divesting its Ukrainian mining subsidiaries, the group's reported operations centre on mining and mineral-extraction services provided through its Polish subsidiary, Advanced Industrial Technologies sp. z o.o., alongside an updated 2025-2027 strategy targeting Poland, Romania and critical-raw-materials projects in Central and Eastern Europe.
Who is the majority shareholder of Coal Energy S.A.?
Lycaste Holdings Limited, a Cyprus-registered company, held approximately 55.98% of Coal Energy S.A.'s share capital (58.74% of voting rights) according to the company's FY2025 report as of 30 June 2025.
Who is the ultimate beneficial owner of Coal Energy S.A.?
Lycaste Holdings Limited is disclosed as being owned in equal 50% shares by Viktor Vyshnevetskyy and Maryna Vyshnevetska. Multiplied through Lycaste Holdings' 55.98% stake in Coal Energy S.A., each has a calculated effective ownership of approximately 27.99%.
Who are the directors of Coal Energy S.A.?
As listed on the company's official website, the board comprises Viktor Vyshnevetskyy (Chairman and CEO), Arthur David Johnson (independent non-executive director), Oleksandr Reznyk (director and Business Development Director) and Diyor Yakubov (independent non-executive director).
What is Coal Energy S.A.'s group structure?
Coal Energy S.A. is majority-owned by Lycaste Holdings Limited (Cyprus) and its only confirmed active subsidiary is Advanced Industrial Technologies sp. z o.o. in Poland; its former Ukrainian coal-mining subsidiaries were sold in the financial year ended 30 June 2025.
Does zavia.ai monitor Coal Energy S.A. for company data changes?
Yes, zavia.ai tracks registry, ownership and officer data for Coal Energy S.A. and can provide alerts and API access for ongoing due-diligence monitoring of this Warsaw Stock Exchange-listed company.