Gielda Papierów Wartosciowych w Warszawie (GPW) AGM 2026 summary

Opening remarks and agenda

• The meeting was opened at 10:00 A.M. with a welcome to shareholders, board members, and regulatory representatives.

• Voting procedures were explained, including the use of tablets and secret ballots for certain resolutions.

• The agenda was adopted unanimously, and the meeting confirmed proper convening and quorum with 68.13% of shares represented.

Financial performance review

• 2025 saw record turnover and revenues, with a 40% year-on-year increase in market activity and revenues exceeding PLN 500 million, up 19%.

• EBITDA rose by 37% and net profit by 30% to PLN 200 million; Return on Equity reached 12% and net margin over 37%.

• Operational costs grew by 10%, partly due to organic growth and increased activity, with cost-to-income ratio dropping to 36%.

• One-off write-offs from non-core projects totaled PLN 38 million over 2024-2025, impacting net profit by PLN 10 million.

• Revenues from commodity markets increased by 12%, and the company maintained strong cost control.

Strategic initiatives and plans

• Launched programs to attract new issuers and support current ones, including the GPW IPO Academy and Bridge.

• Expanded ETF offerings, aiming for 50 by year-end, and introduced retail pledge letters.

• Hosted the European Capital Markets Forum to foster regional cooperation and integration.

• Renewed focus on the NewConnect market, supporting company transitions to the main market.

• Strategic ambitions for 2027 include a cost-to-income ratio of 65% and Return on Equity of 18%.