Lubawa S.A. (LBW) Q3 2024 earnings summary

Executive summary

• Consolidated sales revenue for the first three quarters of 2024 reached a record PLN 358.5 million, up 78.1% year-over-year, driven by strong contract execution and increased demand from uniformed services.

• Consolidated net profit was PLN 74.4 million, a significant increase from PLN 7.6 million in the same period last year, reflecting improved profitability across all segments.

• Lubawa S.A. individually reported record sales of PLN 150.0 million and net profit of PLN 21.4 million, reversing a loss from the prior year.

• The Group benefited from increased defense spending and geopolitical tensions, particularly the war in Ukraine, which boosted demand for defense products.

Financial highlights

• Revenue: PLN 358.5 million for Q1–Q3 2024, up from PLN 201.3 million year-over-year.

• Net profit: PLN 74.4 million, up from PLN 7.6 million year-over-year.

• Operating profit: PLN 89.3 million, up from PLN 7.6 million year-over-year.

• EPS: PLN 0.50 vs. PLN 0.05 year-over-year.

• Net cash from operating activities: PLN 16.5 million (down from PLN 40.1 million year-over-year).

Outlook and guidance

• The Group expects continued high demand for its products, especially in defense, due to ongoing geopolitical instability and increased defense budgets.

• The impact of the war in Ukraine on future orders remains uncertain, but management anticipates sustained interest in the Group’s offerings.