Grupa Kety (KTY) Q2 2026 earnings summary

Executive summary

• Achieved record financial results in Q2 and H1 2026, with strong performance across all segments despite challenging market conditions and geopolitical instability, particularly in the Middle East.

• High operational efficiency and margin improvements, especially in Architectural Systems and Extruded Products, supported by positive inventory effects and high capacity utilization (~90%).

• Revenue for H1 2026 reached PLN 3,028 million, up 8% year-over-year, and net profit rose 33% to PLN 386 million.

Financial highlights

• Q2 2026 sales revenue reached PLN 1,654 million, up 15% year-over-year; EBITDA rose 28% to PLN 379 million, with EBITDA margin improving to 23.0%.

• Net profit increased 42% year-over-year to PLN 241 million in Q2; operating profit up 35% to PLN 318 million.

• H1 2026 EBITDA totaled PLN 636 million, up 22% year-over-year; operating profit reached PLN 514 million.

• Net debt to EBITDA improved to 1.0 as of 30.06.2026, with net debt reduced to PLN 1,125 million.

• Raw material costs surged: aluminum +55%, LDPE and PP granulate +66% year-over-year in PLN.

Outlook and guidance

• Management sustains the 2026 performance forecast, expecting normalization in H2 and aiming to meet ambitious budget targets.

• Q3 sales volume expected to grow in Architectural Systems and Extruded Products, remain stable in Sun Shadings and Flexible Packaging.

• Net debt projected to rise by PLN 150 million in H2 2026 due to planned capex and dividend payments.

• Flexible Packaging Segment expected to return to standard budget assumptions, with quarterly EBITDA around PLN 70 million.