Answear.com (ANR) investor relations material

Executive summary

• Revenue in H1 2026 grew by 8.4% year-over-year to PLN 815 million, with online sales reaching PLN 788 million and gross margin improving to 42.6% from 41.7% in H1 2025.

• EBITDA for H1 2026 was PLN 28.7 million, down from PLN 30.2 million in H1 2025, while net profit dropped to PLN 1.5 million from PLN 6.5 million, mainly due to higher financial costs and currency effects.

• Operating profit for H1 2026 was PLN 16.3 million, down from PLN 18.3 million in H1 2025.

• Cash flow from operating activities improved to PLN 88.1 million from negative PLN 11.5 million year-over-year.

• The company continued its premiumization strategy, expanding its product portfolio and strengthening its own brands, particularly Answear.LAB and PRM.

Financial highlights

• Gross profit margin rose to 42.6% (+0.9 pp y/y), with gross profit at PLN 347 million (+10.7% y/y).

• Net profit for H1 2026 was PLN 1.5 million, a significant decrease from PLN 6.5 million in H1 2025, impacted by negative FX differences and higher financial costs.

• Marketing expenses totaled PLN 154.5 million (19.6% of online sales), logistics costs remained stable at 12.7% of online sales.

• Cash flow from operations was PLN 88.1 million, with net cash outflow from financing activities at PLN -114.9 million.

• Inventory value decreased 7% y/y due to improved stock management and sell-through.

Outlook and guidance

• The company aims to further strengthen its position in the premium segment, continue expanding its product range, and improve profitability through operational efficiencies.

• Management does not foresee significant negative impacts from geopolitical events, including the Middle East conflict and the situation in Ukraine.

• No formal financial forecasts were published.