Newag (NWG) Q4 2025 earnings summary

Executive summary

• Net sales reached PLN 2,386.4 million, up 50% year-over-year, with net profit at PLN 356.5 million, nearly triple the prior year.

• EBITDA rose to PLN 498.7 million, a 137% increase year-over-year.

• Strong cash flow from operations at PLN 472.9 million, reversing a negative result in 2024.

• Significant contracts signed post-balance sheet, including a PLN 311 million train delivery and a strategic partnership with Siemens.

Financial highlights

• Revenue: PLN 2,386.4 million (2025) vs. PLN 1,589.4 million (2024).

• Net profit: PLN 356.5 million (2025) vs. PLN 122.7 million (2024).

• EBITDA: PLN 498.7 million (2025) vs. PLN 210.8 million (2024).

• Operating cash flow: PLN 472.9 million (2025) vs. PLN -11.1 million (2024).

• Total assets: PLN 2,105.2 million (2025) vs. PLN 1,733.3 million (2024).

• Dividend payout of PLN 2.00 per share for 2024, totaling PLN 90 million.

Outlook and guidance

• No indications of threats to business continuity; management expects continued growth based on backlog and new contracts.

• Planned investments in fixed assets for 2026 amount to PLN 62.4 million.

• New contracts and partnerships position the group for further expansion in domestic and international markets.