Wawel (WWL) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached PLN 296.1 million, up 3% year-over-year from PLN 287.5 million.

• Net profit for H1 2024 was PLN 28.2 million, a 10.8% increase compared to PLN 25.4 million in H1 2023.

• Operating profit rose to PLN 28.3 million in H1 2024 from PLN 25.8 million in H1 2023.

• Dividend of PLN 45.2 million (PLN 35.00 per share) was declared and paid in July 2024.

Financial highlights

• Gross profit before tax for H1 2024 was PLN 35.2 million, up from PLN 31.7 million in H1 2023.

• Earnings per share for H1 2024 were PLN 21.80, compared to PLN 19.68 in H1 2023.

• Cash and cash equivalents increased to PLN 290.4 million as of June 30, 2024, from PLN 218.5 million at year-end 2023.

• Book value per share as of June 30, 2024 was PLN 526.99, up from PLN 504.83 a year earlier.

Outlook and guidance

• Management expects the 2024 plan to be met, with H1 2024 results representing 47% of the annual forecast, in line with seasonal trends.

• No significant risks to achieving the full-year plan are identified, given stronger performance expected in H2 due to seasonality.