Lubawa S.A. (LBW) Q3 2025 earnings summary

Executive summary

• Achieved record consolidated sales revenue of PLN 414.6 million for the first nine months of 2025, up 15.6% year-over-year, driven by major defense contracts and increased demand in specialist equipment and textiles segments.

• Net profit for the period was PLN 72.5 million, a slight decrease of 2.6% compared to the same period in 2024, reflecting high but slightly pressured profitability due to rising costs.

• Growth in defense-related segments is linked to ongoing geopolitical tensions and increased military spending in the region.

Financial highlights

• Revenue: PLN 414.6 million (up 15.6% year-over-year).

• Net profit: PLN 72.5 million (down 2.6% year-over-year).

• Operating profit: PLN 86.4 million (down 3.3% year-over-year).

• Earnings per share: PLN 0.48 (down from PLN 0.50 year-over-year).

• Net cash from operating activities: PLN -31.1 million (down from PLN 16.5 million in 2024).

Outlook and guidance

• Continued strong demand for defense products expected, even if direct conflict in Ukraine ends, due to ongoing modernization of armed forces in Poland and the region.

• No official financial forecasts published for 2025.