Lubawa S.A. (LBW) Q3 2025 earnings summary

Executive summary

• Consolidated net sales for 1Q–3Q 2025 reached PLN 414.6 million, up 15.6% year-over-year, driven by major defense contracts and increased demand in specialist equipment and textiles segments.

• Net profit for the period was PLN 72.5 million, a slight decrease of 2.6% compared to the same period in 2024, reflecting high but slightly pressured profitability due to rising costs.

• Standalone parent company sales rose 21.5% year-over-year to PLN 182.3 million, with EBITDA at PLN 36.5 million and net profit at PLN 21.4 million.

• Growth in defense-related segments is linked to ongoing geopolitical tensions and increased military spending in the region.

Financial highlights

• Revenue: PLN 414.6 million (up 15.6% year-over-year).

• Net profit: PLN 72.5 million (down 2.6% year-over-year).

• EBITDA for the period was PLN 99.5 million.

• Standalone EBITDA rose to PLN 36.5 million from PLN 34.4 million, and net profit to PLN 21.4 million from PLN 1.2 million.

• Earnings per share: PLN 0.48 (down from PLN 0.50 year-over-year).

Outlook and guidance

• Recent large contracts, including a PLN 115 million order for bulletproof vests and a EUR 17.04 million contract for security systems, support a positive outlook for 2026.

• Continued strong demand for defense products expected, even if direct conflict in Ukraine ends, due to ongoing modernization of armed forces in Poland and the region.

• No official financial forecasts published for 2025.