Wittchen (WTN) Q3 2025 earnings summary

Executive summary

• Sales and profitability remain under pressure from strong competition, with ongoing reviews of e-commerce and offline processes and a focus on cost efficiency to return to growth.

• Product offering is evolving, including expansion into eco-friendly clothing and accessories.

• Net sales for the nine months ended September 30, 2025, reached 325.7 million PLN, up 1.4% year-over-year.

• Net profit for the period was 18.6 million PLN, a decrease from 25.4 million PLN in the prior year.

• Online sales accounted for 54% of total revenue, with a notable 18% year-over-year increase in Q3 online sales.

Financial highlights

• Revenue for 3Q25 was PLN 119.8m, up 3.9% year-over-year; 9M25 revenue reached PLN 325.7m, up 1.4% year-over-year.

• Gross margin improved to 62.4% in 3Q25 (up 2.3 p.p. year-over-year); 9M25 gross margin stable at 61.8%.

• EBITDA rose 10% year-over-year in 3Q25 to PLN 21.3m; net profit increased 2% to PLN 8.9m.

• Operating profit for 3Q25 was PLN 13.1m (up 13.9% year-over-year); 9M25 operating profit fell 24.2% to PLN 26.5m.

• Earnings per share for the period were 1.01 PLN, compared to 1.38 PLN in the previous year.

Outlook and guidance

• The company aims to restore growth through cost efficiency, product innovation, and process optimization in both online and offline channels.

• The group plans to grow across all sales channels, with a focus on increasing foreign and online sales.

• Key goals for Q4 2025 and H1 2026 include positive sales dynamics, inventory reduction, margin control, and cost management.

• Planned investments in 2026 include logistics center expansion, IT infrastructure, and store modernization.