Wawel (WWL) Q4 2025 earnings summary

Executive summary

• Revenue increased to 739.4m PLN in 2025, up 7.3% year-over-year, with net profit rising to 84.6m PLN, a 14.8% increase from 2024.

• Export sales grew significantly, contributing 99.6m PLN, up from 66.1m PLN in 2024.

• Operating cash flow remained strong at 72.4m PLN, though total cash decreased due to high investment outflows.

• The company maintains a robust equity position, with equity rising to 799.2m PLN.

Financial highlights

• Gross margin improved to 31.1% from 29.4% year-over-year.

• EBITDA and EBIT increased, with operating profit at 92.7m PLN, up 19.5% year-over-year.

• EPS rose to 65.50 PLN from 57.08 PLN year-over-year.

• Dividend payout for 2024 was 12.9m PLN (10 PLN per share); a dividend for 2025 is recommended.

• Cash and equivalents at year-end were 131.1m PLN, down from 224.6m PLN.

Outlook and guidance

• Management sees no threats to business continuity through at least end-2026.

• The company expects to utilize 85% of its available tax relief in the Special Economic Zone by 2026.

• Ongoing adaptation to new IFRS 18 standards is expected to impact presentation but not asset valuation.