Mo-BRUK (MBR) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached PLN 181.4 million, up 42.8% year-over-year, driven by core waste management operations and increased waste processing volumes.

• Net profit for H1 2026 was PLN 42.2 million, a 59% increase from H1 2025.

• The waste management segment generated 92% of total sales, remaining the core business driver.

• Major organizational changes included the creation of SOLIDRA Sp. z o.o. and the acquisition of Eco Point, expanding into oils and oily water processing.

• Significant contracts for hazardous waste removal and environmental remediation supported growth.

Financial highlights

• EBITDA for H1 2026 was PLN 74.8 million, with a margin of 44.4%.

• Operating profit rose to PLN 59.3 million from PLN 37.1 million year-over-year.

• Consolidated net income for H1 2026 was PLN 42.2 million, impacted by higher depreciation, financial expenses, and tax.

• Earnings per share increased to PLN 12.00 from PLN 7.55 year-over-year.

• Net cash from operating activities was PLN 49.1 million, while net cash used in investing activities was PLN -56.0 million.

Outlook and guidance

• Ongoing and forecasted contracts for environmental remediation projects (“environmental time bombs”) expected to support future revenue.

• No significant seasonality expected; management sees limited impact from geopolitical instability in the Middle East.

• Continued focus on expanding waste processing capacity, integrating recent acquisitions, and operational efficiency.