Gielda Papierów Wartosciowych w Warszawie (GPW) AGM 2025 summary

Opening remarks and agenda

• The AGM opened on June 30, 2025; shareholders attended in person and online. Jarosław Kowalski was elected chair with all 41,756,054 votes cast in favor, representing 64.4729% of share capital.

• The adopted agenda covered FY2024 reports and financial statements, profit distribution, remuneration, discharges, and Exchange Court elections.

Financial performance review

• Capital-group revenue reached a record, up 5% YoY in the presentation; the detailed review cited 4.5% growth, driven by financial-market turnover while commodity and other revenue declined.

• Operating costs rose 3.9%, below revenue growth; adjusted EBITDA increased 2% YoY and net profit reached PLN 157 million, with improved cost/income performance.

• One-off write-offs reduced EBITDA by PLN 39 million; a reserve release at a subsidiary added PLN 29 million to financial activity.

• FY2024 net profit was PLN 89.748 million on the separate statements and PLN 149.020 million on the consolidated statements.

Board and executive committee updates

• The Supervisory Board described its 2024 focus as safe trading, operational and financial stability, oversight of priorities, and timely, efficient implementation of the WATS trading system.

• Management said it would concentrate resources on core financial and capital-market activities, including areas where it has competitive strengths, and reduce exposure to non-core businesses with different risk profiles.