Seco/Warwick (SWG) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was PLN 356.3m, down 8% year-over-year; net profit attributable to shareholders was PLN 8.4m, a 10% decrease from H1 2025.

• Gross margin for H1 2026 was 20.7%, slightly lower than 20.8% in H1 2025.

• The company operates globally, with key markets in Europe, USA, and Asia, and production centers in Poland and China.

Financial highlights

• H1 2026 revenue: PLN 356.3m (H1 2025: PLN 387.3m); Q2 2026 revenue: PLN 175.4m (Q2 2025: PLN 200.4m).

• H1 2026 net profit: PLN 8.7m (H1 2025: PLN 9.8m); Q2 2026 net profit: PLN 2.4m (Q2 2025: PLN 4.1m).

• H1 2026 EBITDA: PLN 23.6m (H1 2025: PLN 30.0m).

• Basic EPS for H1 2026: PLN 1.15 (H1 2025: PLN 1.10).

• Cash at June 30, 2026: PLN 56.9m (Dec 31, 2025: PLN 59.6m).

Outlook and guidance

• Management sees no material uncertainty regarding going concern, despite ongoing geopolitical risks.

• The company expects continued volatility due to global economic conditions, inflation, and supply chain disruptions.