Poland · Delayed Price · Currency is PLN Gielda Papierów Wartosciowych w Warszawie Earnings Call Transcripts
Fiscal Year 2025
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Record revenue and profit growth driven by surging equity turnover and strong commodity trading, with robust cash flow and liquidity. Elevated costs reflect variable compensation and strategic investments, while 2026 guidance anticipates normalization post-WATS launch.
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Poland's economy remains robust, but capital market development lags, with WSE market cap at just 22% of GDP. Strategic initiatives target retail and institutional investor growth, new tax-advantaged accounts, and product expansion. Strong financial results and governance improvements support future growth.
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Poland's stock market has outperformed peers, driven by strong macro data and rising international interest. Strategic upgrades, new retail incentives, and education initiatives aim to deepen market maturity and participation over the next two years.
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Record Q2 results with revenue up 19% and net profit up 43% year-on-year, driven by surging equity and commodity market activity. Strategic initiatives and a new tax-advantaged investment account are set to further boost growth and market participation.
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Record Q1 2025 results with revenues up 12% and net profit up 28% year-over-year, driven by strong equity and commodity trading. Dividend payout increased, CapEx and OpEx set to rise due to major development projects, and IPO/ETF activity expected to accelerate.
Fiscal Year 2024
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Q3 2024 delivered 6% revenue growth and a 7.2% EBITDA increase, with cost discipline lowering the cost income ratio to 69.1%. Major IPOs, especially Żabka, boosted market activity, while strong liquidity and a focus on new products and strategy support future growth.
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Record Q2 2024 revenues rose 9% year-on-year, driven by strong financial market performance and cost optimization. Adjusted EBITDA increased 8%, while adjusted net profit dipped 1% due to lower financial income. Dividend payout and new system launch highlight ongoing strategic initiatives.