Lubawa S.A. (LBW) Q2 2025 earnings summary

Executive summary

• Achieved strong growth in consolidated and standalone financial results for 2024 and H1 2025, with significant increases in sales, EBITDA, and net profit year-over-year and sequentially.

• Achieved record financial results in H1 2025, with strong contract acquisition and execution in both domestic and international markets.

• Major growth in specialist equipment and technical textiles/fabrics segments, driven by large contracts and new orders, especially for defense and NATO clients.

• Maintained a diversified business model with operations in fabrics, advertising materials, and specialist equipment, serving both domestic and international markets.

• Key contracts included anti-drone ponchos for NATO and ballistic vests for police and military.

Financial highlights

• Consolidated sales for 2024 reached PLN 510.2 million, up 35.1% year-over-year; EBITDA rose 121.6% to PLN 100.5 million; net profit increased to PLN 45.4 million.

• In H1 2025, consolidated sales were PLN 312.0 million, up 52.2% year-over-year; EBITDA rose 90.7% to PLN 56.9 million; net profit increased to PLN 29.8 million.

• Standalone (parent company) H1 2025 sales were PLN 150.1 million, up 193.0% year-over-year; EBITDA reached PLN 51.2 million, up 587.6%; net profit was PLN 10.4 million.

• EBITDA for H1 2025 was PLN 75.9 million (+76.1% YoY); EBIT PLN 68.8 million (+100.9% YoY); gross margin 35.2%.

• Equity at PLN 520.1 million (+12.4% from 2024 year-end); total assets PLN 671.5 million.

Outlook and guidance

• Continued focus on international expansion and innovation in product offerings, with recent large contracts and participation in major trade fairs supporting future growth.

• Management expects continued high demand for defense and specialist products due to geopolitical uncertainty and ongoing sales efforts.

• No financial forecasts were published for H1 2025.

• Investment plans to be financed from own funds, loans, and external sources; no issues foreseen in funding future investments.