Wawel (WWL) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 reached PLN 739.4 million, up 7.3% year-over-year, with net profit at PLN 84.6 million, a 14.8% increase from 2024.

• EBITDA rose to PLN 120.0 million (16.2% margin), and EBIT to PLN 92.7 million (12.5% margin), both showing strong operational performance.

• Export sales grew significantly by 50.8%, while domestic sales increased by 2.7%.

• The company paid a dividend of PLN 12.9 million (PLN 10.00 per share) from 2024 profits.

• No significant changes in management or capital structure occurred during the year.

Financial highlights

• Gross margin remained stable at 26.2%, with cost of goods sold at PLN 509.4 million.

• Operating cash flow was PLN 72.4 million, with a net cash outflow of PLN 93.5 million due to investment activities.

• Capital expenditures totaled PLN 40.2 million, mainly for production modernization and digital transformation.

• Liquidity ratios improved: current ratio at 6.3, quick ratio at 4.7.

• No bank loans outstanding at year-end; operations financed primarily by equity.

Outlook and guidance

• Management expects further positive impact from lower cocoa prices in 2026, with a 3–6 month lag.

• Planned capital expenditures for 2026 will be financed from operating cash flows.

• Continued focus on product innovation, expansion of export markets, and sustainability initiatives.