Lubawa S.A. (LBW) investor relations material

Executive summary

• Consolidated revenue for Q1 2026 reached PLN 137.0 million, up 27.3% year-over-year from PLN 107.6 million.

• Consolidated net profit more than doubled to PLN 23.6 million from PLN 11.6 million in Q1 2025.

• Growth was driven by strong performance in the fabrics and specialist equipment segments, offsetting a decline in advertising materials.

• The group continues to benefit from increased demand in the defense sector and ongoing contract execution.

Financial highlights

• Gross profit from sales rose to PLN 46.5 million from PLN 30.4 million year-over-year.

• Operating profit increased to PLN 26.2 million from PLN 12.2 million year-over-year.

• Earnings per share doubled to PLN 0.16 from PLN 0.08 year-over-year.

• Net cash flow from operating activities was negative at PLN -67.6 million, compared to PLN -66.0 million a year earlier.

• Cash and equivalents at period end were PLN 61.7 million, down from PLN 138.0 million at year-end 2025.

Outlook and guidance

• Ongoing contracts in the defense sector and new agreements are expected to support future revenue.

• Management notes continued strong demand for defense-related products and ongoing innovation efforts.

• No financial forecasts for 2026 were published.