Newag (NWG) Q2 2025 earnings summary

Executive summary

• Net sales for H1 2025 reached 849.2 million PLN, up 47.6% year-over-year, with net profit at 129.7 million PLN, a 177.7% increase year-over-year.

• EBITDA rose to 183.4 million PLN from 80.1 million PLN year-over-year, reflecting strong operational performance.

• The main revenue driver was locomotive sales, which more than doubled compared to the previous year.

• The group maintained business continuity with no significant changes in structure or management.

Financial highlights

• Operating profit for H1 2025 was 155.0 million PLN, up from 56.2 million PLN year-over-year.

• Net cash from operating activities was -131.2 million PLN, reflecting increased working capital needs.

• Total assets grew to 1.95 billion PLN as of June 30, 2025, from 1.80 billion PLN a year earlier.

• Equity increased to 920.8 million PLN, with retained earnings at 694.3 million PLN.

• Dividend of 2.00 PLN per share (90 million PLN total) was paid in June 2025.

Outlook and guidance

• Management sees no threats to business continuity and expects stable operations for the foreseeable future.

• No significant post-balance sheet events or changes in the business environment were reported.