PlayWay (PLW) Q2 2025 earnings summary

Executive summary

• Net revenue for H1 2025 was PLN 141.2m, down 5.3% year-over-year; net profit attributable to shareholders was PLN 66.6m, a 23.1% decrease year-over-year.

• EBITDA for H1 2025 reached PLN 92.2m, down from PLN 98.6m in H1 2024.

• Cash and cash equivalents at period end were PLN 304.2m, representing 49.9% of total assets.

• Dividend of PLN 22.55 per share (PLN 148.8m total) was declared, with payment scheduled for July 2025.

Financial highlights

• Operating profit for H1 2025 was PLN 80.9m, down from PLN 105.9m in H1 2024.

• Net cash from operating activities was PLN 68.1m, with net investing cash flow at PLN 127.1m and net financing cash flow at -PLN 15.5m.

• Total assets increased to PLN 609.4m as of June 30, 2025, from PLN 551.7m at year-end 2024.

• Equity attributable to shareholders was PLN 325.6m, with total liabilities at PLN 214.4m.

• EPS for H1 2025 was PLN 10.09, compared to PLN 13.08 in H1 2024.

Outlook and guidance

• Key factors for the next quarter include FX volatility, new game launches, developer team expansion, and inflationary pressures.

• Internal drivers include upcoming game releases, new pre-productions, and contracts with new developer teams.