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Gielda Papierów Wartosciowych w Warszawie (GPW) investor relations material
Gielda Papierów Wartosciowych w Warszawie Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Record-high index levels: WIG surpassed 150,000 points (+29.8% YTD), WIG20 over 4,000 points (+30.8% YTD), with strong cash equity market performance and turnover up 15% YoY in Q2 and 27% in H1.
Consolidated revenue reached PLN 324.2 million in H1 2026, up 17.3% YoY, driven by financial market trading and Armenia Stock Exchange depository operations.
Adjusted net profit rose 18.2% YoY in H1 2026 to PLN 128 million, with EBITDA up 19.5% and operating profit up 25.9%.
Operating expenses increased by 11.0% in H1 2026, mainly due to higher salaries and external service costs.
Record IPO activity with 10 new debuts YTD, reversing the declining trend in listed companies.
Financial highlights
Q2 2026 revenue: PLN 155.4 million (+7.9% YoY); H1 2026 revenue: PLN 324.2 million (+17.3% YoY).
Adjusted EBITDA in Q2: PLN 63 million (+0.6% YoY); H1 EBITDA: PLN 139.9 million (+19.5% YoY).
Adjusted net profit: Q2 2026 PLN 58.3 million (+1.1% YoY); H1 2026 PLN 128 million (+18.2% YoY).
Operating expenses: PLN 197.1 million in H1 2026 (+11.0% YoY).
Net cash at end-June: PLN 470 million; dividend of PLN 143 million paid in August, up 8% YoY.
Outlook and guidance
Strong equity turnover in July and August (+44% YoY) expected to support Q3 revenues; electricity trading up, gas trading down.
WATS trading system go-live scheduled for October 5, with increased CapEx and OpEx expected in H2.
OpEx growth in Q3 expected at least at H1 levels, with further acceleration in Q4 due to WATS-related depreciation.
Launch of Personal Investment Accounts (OKI) in January 2027 anticipated to drive retail inflows.
Ongoing monitoring of geopolitical, regulatory, and market risks.
- Net profit up 19.7% YoY, record revenue, higher dividend, and further investments planned.GPW
Q2 2026 - Record revenues, higher dividends, and all governance resolutions adopted with strong support.GPW
AGM 2026 - Ambitious 2025-2027 strategy targets growth, digital innovation, and ESG leadership.GPW
Strategy update - WSE posted record equity turnover and profit growth in 2025, with ambitious expansion plans.GPW
Investor presentation - WSE posted record equity turnover and robust profit growth, with major expansion initiatives underway.GPW
Investor presentation - Record Q1 2026 revenue and profit growth, with improved margins and a record dividend.GPW
Q1 2026 - Record Q1 2026 revenue and profit, with robust trading, digital expansion, and margin gains.GPW
Q1 2026 - Record equity turnover and profit growth in 2025, with continued high investment in 2026.GPW
Q4 2025 - Record year with 90% revenue growth, strong cash flow, and robust trading volumes into 2026.GPW
Q4 2025
Next Gielda Papierów Wartosciowych w Warszawie earnings date
Next Gielda Papierów Wartosciowych w Warszawie earnings date
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