)
Edge14 Nov 2025
Ball: The King of Cans
From a 19th-century glass-jar legacy to a global plant network, Ball is now a pure-play aluminum can partner to the world's biggest beverage brands.
KGHM Polska Miedz (KGH) investor relations material
KGHM Polska Miedz Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Group revenues for the first nine months of 2025 decreased by 1% year-over-year to PLN 25,871 million, with adjusted EBITDA up 16% to PLN 7,203 million, and net profit down 23% to PLN 1,013 million, mainly due to exchange differences despite higher EBITDA and joint venture results.
Strong production results across all segments, with Q3 2025 among the best quarters in recent years for ore extraction and copper production.
International assets, especially Sierra Gorda S.C.M., delivered significant year-over-year growth in copper and molybdenum output, with Sierra Gorda revenues up 27% and adjusted EBITDA up 60%.
The Group maintained full operational capacity, exceeding budget targets due to optimization initiatives and cost discipline.
Financial highlights
Adjusted EBITDA for the Group rose 16% year-over-year to PLN 7,203 million, driven mainly by Sierra Gorda S.C.M., with Group EBITDA margin improving to 25% from 22% year-over-year.
Group operating costs decreased by 1% year-over-year, with cost optimization programs contributing to improved margins, while expenses by nature increased 4% due to higher minerals extraction tax and labor costs.
Net debt/adjusted EBITDA remained low at 0.8, indicating strong liquidity.
Net cash from operating activities was PLN 2,682 million, with negative cash flows from investing (PLN -3,031 million) and financing (PLN -53 million).
Exchange rate differences negatively impacted net results, with a PLN 1 billion loss from loans to Sierra Gorda, partially offset by gains on dollar-denominated liabilities.
Outlook and guidance
Ongoing feasibility studies for Sierra Gorda expansion, with investment decisions expected after study completion at year-end or early next year.
The company continues to invest in energy security, renewable energy, and decarbonization, aiming for at least 220 MW of internal power generation capacity by 2030.
Q4 is traditionally the strongest sales quarter, with expectations for higher production and sales.
The Group continues to monitor global economic and geopolitical risks but has not observed material negative impacts on production, sales, or supply chains.
Quantify gain from Sierra Gorda loan impairment reversal
What is the progress on new mine shaft development?
Outcome of CIRS transaction restructuring
Sierra Gorda expansion: What is the decision timeline?
What specific actions drove C1 cost reduction in intl assets?
How does KGHM manage exchange rate impact on loans?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next KGHM Polska Miedz earnings date
Q4 202526 Mar, 2026
Next KGHM Polska Miedz earnings date
Q4 202526 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
KGHM Polska Miedz S.A. mines, produces, and sells copper, precious metals, and non-ferrous metals in Poland and internationally. The company operates through three segments: Exploration of Copper and Silver Mines, Processing of Ores and Concentrates, Refining and Sale of Copper and Silver. Its principal products include copper cathodes; gold; silver; selenium; nickel sulphate; sulphuric acid; rhenium; platinum group metals, including palladium and rhodium; cesium formate solution; nickel carbonate; cobalt hydroxide; zinc concentrate; precious metals concentrates, such as gold and silver concentrates containing selenium and tellurium as byproducts from a copper mining process that are sold to other companies for further processing in refining plants outside the company's mining industry in Poland.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage