KGHM Polska Miedz (KGH) AGM 2025 summary

Opening remarks and agenda

• The meeting began with a welcome to shareholders, board members, management, employees, and media, followed by the election of the meeting chairperson and confirmation of the agenda, which included 18 points covering financial, governance, and statutory matters.

Financial performance review

• 2024 saw an 8% increase in copper prices and a 21% rise in silver prices, with revenues up 3% and adjusted EBITDA up 25% year-on-year; group revenues rose 6% and group adjusted EBITDA by 58%.

• PLN 4.9 billion was invested, with 38% for reconstruction, 36% for maintenance, and 25% for development, with a call to increase development spending in the future.

Board and executive committee updates

• The board and supervisory board presented reports on financial statements, management activities, internal controls, risk management, and remuneration for 2024.