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Gielda Papierów Wartosciowych w Warszawie (GPW) investor relations material
Gielda Papierów Wartosciowych w Warszawie Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 revenue rose 7.9% YoY to PLN 155.4 million; adjusted EBIT reached PLN 54.9 million (+3.8%) and adjusted net profit PLN 58.3 million (+1.1%).
H1 sales revenue reached PLN 324.2 million (+17.3%); reported net profit was PLN 130.2 million (+19.7%), while adjusted net profit rose 18.2% to PLN 127.9 million.
H1 financial-market revenue increased 23.0%, while commodity-market revenue rose 4.7%; in Q2, financial-market revenue grew 13.0% and commodity-market revenue declined 7.3%.
WIG and WIG20 reached record highs, up 29.8% and 30.8% year to date, respectively.
Financial highlights
Q2 revenue was PLN 155.4 million (+7.9% YoY); H1 revenue was PLN 324.2 million (+17.3%).
H1 adjusted EBIT rose 26.6% to PLN 125.2 million; adjusted net profit increased 18.2% to PLN 127.9 million.
H1 reported operating profit reached PLN 124.4 million (+25.9%), net profit PLN 130.2 million (+19.7%), and EBITDA PLN 139.9 million (+19.5%).
Operating expenses rose 10.2% in Q2 and 11.0% in H1, driven mainly by higher external-service costs, salaries and IT spending.
H1 free cash flow was PLN 96.9 million (+2.3%); liquid assets at end-June were PLN 469.5 million.
Outlook and guidance
July-August cash-equity turnover grew 44% YoY, with strong electricity trading but sharp declines in gas trading; management was more optimistic about Q3 revenue.
Q3 OpEx growth is expected to match H1, with further acceleration in Q4 as WATS launches; H2 CapEx is expected to rise.
WATS is scheduled to launch October 5, subject to readiness and testing; capacity is expected to be five times that of the current system.
OKI personal investment accounts are scheduled to launch January 1; potential annual equity inflows are estimated at PLN 5 billion.
- FY2025 growth accelerated, but GPW WATS investment and transition costs will weigh on 2026.GPW
Q4 2025 - 2027 targets include PLN 157 million revenue growth and a 50% EBITDA margin.GPW
Strategy update - Net profit up 19.7% YoY, record revenue, higher dividend, and further investments planned.GPW
Q2 2026 - Record revenues, higher dividends, and all governance resolutions adopted with strong support.GPW
AGM 2026 - 2025–2027 strategy targets capital-market growth and 8%–12% EBITDA CAGR.GPW
Strategy update - WSE posted record equity turnover and profit growth in 2025, with ambitious expansion plans.GPW
Investor presentation - WSE posted record equity turnover and robust profit growth, with major expansion initiatives underway.GPW
Investor presentation - Record Q1 2026 revenue and profit, with robust trading, digital expansion, and margin gains.GPW
Q1 2026 - Q3 growth and strong equity and gas trading lifted record 9M revenue and profit.GPW
Q3 2025
Next Gielda Papierów Wartosciowych w Warszawie earnings date
Next Gielda Papierów Wartosciowych w Warszawie earnings date
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