Oponeo.pl (OPN) Q2 2025 earnings summary

Executive summary

• Leading online tire retailer in Poland, also active in six European markets, with a broad product range including tires, rims, and automotive accessories.

• Main revenue from online retail of tires and rims, with over 90% of sales from tires, showing strong seasonality.

Financial highlights

• Revenue for H1 2025 reached 652,191 thousand PLN, up 1.8% year-over-year.

• Net profit for H1 2025 was 23,073 thousand PLN, up 32.8% year-over-year.

• Gross margin improved to 22.6% from 22.2% year-over-year.

• Earnings per share increased to 1.66 PLN from 1.55 PLN year-over-year.

• Operating cash flow was negative at -127,234 thousand PLN, reflecting increased inventory and receivables.

Outlook and guidance

• No indications of threats to business continuity; liquidity and supply chain remain secure.

• Post-balance sheet, credit line limit increased to 270 million PLN to support further growth.

• New employee incentive program to be launched for 2026-2027, subject to shareholder approval.