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Wittchen (WTN) investor relations material
Wittchen Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Sales declined by 6.7% year-over-year in Q2 2026 and by 7.5% in H1 2026, driven by weaker demand, strong competition, and higher logistics costs.
Gross margin remained above 60%, but profitability dropped sharply due to high fixed costs and increased operating expenses.
E-commerce remained resilient, accounting for 57.4% of H1 2026 sales, while offline and B2B segments saw declines.
Inventory levels were reduced by 31% year-over-year, improving stock rotation and creating room for new collections.
The Group focused on inventory optimization and reviewing the profitability of sales channels.
Financial highlights
Q2 2026 revenue: PLN 104.7m (-6.7% y/y); H1 2026 revenue: PLN 190.5m (-7.5% y/y); gross profit from sales fell to PLN 115.9m.
Q2 2026 net profit: PLN 0.4m (-92.2% y/y); H1 2026 net loss: PLN -4.7m.
Q2 2026 EBITDA: PLN 9.9m (-43.6% y/y); H1 2026 EBITDA: PLN 14.6m (-50.3% y/y).
Operating loss of PLN 1.6m in H1 2026 versus a PLN 13.4m profit in H1 2025.
No dividend declared or paid for 2025-2027; 2025 profit allocated to reserves.
Outlook and guidance
Focus on e-commerce development, international markets, and optimization of the stationary network.
New autumn-winter 2026 collections planned.
Preparation for expansion of the logistics center in Q4 2026.
Management prioritizes profitability improvement and investment financing.
Ongoing cost control and pricing adjustments to boost sales.
- FY23 sales grew 15.1%, but rising costs cut operating profit; double-digit growth remains the 2024 target.WTN
Q4 2023 - Revenue fell 8.5% in Q1 2026, leading to a net loss and a focus on cost optimization.WTN
Q1 2026 - Record sales and robust online growth lifted revenue and profit, with dividends suspended.WTN
Q4 2025 - Net profit fell to 18.6m PLN despite higher sales, with online and foreign markets expanding.WTN
Q3 2025 - Net profit fell to PLN 9.7m in H1 2025 as margins tightened despite stable revenue.WTN
Q2 2025 - Sales and profit fell, but gross margin remained high and investments in growth continued.WTN
Q3 2024 - Net profit declined as foreign sales and margins weakened, despite stable revenue.WTN
Q2 2024 - Revenue up 0.8% but profit dropped 13% as costs and competition pressured margins.WTN
Q1 2025 - Profitability declined in 2024 despite stable sales and international expansion.WTN
Q4 2024
Next Wittchen earnings date
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