Wawel (WWL) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was PLN 302.4m, down from PLN 328.1m in H1 2025, mainly due to lower export sales.

• Net profit for H1 2026 reached PLN 41.8m, up from PLN 27.5m in H1 2025, driven by improved gross margin and lower costs.

• Dividend of PLN 45.2m (PLN 35 per share) was paid in June 2026.

Financial highlights

• Gross margin improved to 36.9% in H1 2026 from 28.8% in H1 2025.

• Operating profit rose to PLN 42.2m from PLN 27.4m year-over-year.

• Cash flow from operations increased to PLN 104.4m from PLN 56.9m year-over-year.

• Cash and short-term financial assets at period end totaled PLN 269.3m, up from PLN 253.6m a year earlier.

Outlook and guidance

• Management expects full-year 2026 targets to be met, with H1 performance at 47% of annual plan, in line with seasonal trends.

• No significant risks to plan execution identified; better results anticipated in H2 due to seasonality.