Enter Air (ENT) H2 2025 earnings summary

Executive summary

• Net sales revenue for 2025 reached PLN 2,952,236 thousand, up 1% year-over-year, driven by a 3.4% increase in flight operations and expanded geographic reach, especially to African destinations.

• The group maintained its leading position in the Polish charter flight market, with a 26.12% market share and continued expansion in Western Europe.

• The business model emphasizes flexibility, cost efficiency, and resilience to market shocks, supporting dynamic growth and risk mitigation.

Financial highlights

• Operating profit for 2025 was PLN 141,911 thousand.

• Net profit for 2025 amounted to PLN 222,746 thousand, a significant increase from the previous year, mainly due to positive currency effects.

• Total assets grew by 9% to PLN 2,950,006 thousand, with fixed assets making up 84% of the balance sheet.

• Equity increased to PLN 499,005 thousand, while the equity ratio rose to 17%.

• The group added four new aircraft, including one Boeing 737 MAX 8, increasing leasing liabilities.

• Gross margin declined due to inflationary pressures and unfavorable currency movements, despite higher revenues.

Outlook and guidance

• The group expects another record year in 2026, supported by strong market demand, demographic trends, and further expansion in Western Europe.

• Strategic initiatives include building an ACMI carrier with TUI DE and expanding in-house technical capabilities.