Kghm Polska Miedz Sa Ord (KGHPF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. A very warm welcome at the conference dedicated to the discussion of the results of KGHM Group for the first half of the year. Remigiusz Paszkiewicz, CEO, Anna Sobieraj-Kozakiewicz, Vice President of the Management Board for Foreign Assets, Zbigniew Bryja, Vice President of the Management for Development, Piotr Krzyzewski, Vice President of the Management for Finances, and Miroslaw Laskowski, Vice President for Production. We also have Janusz Krystosiak, Director of Investor Relationships Department. I would like to inform you that our meeting is streamed online and in the second part of the meeting you will be able to ask questions both here in the room and by sending it to our email address of the Investor Relationships Department. Now over to the CEO. Good afternoon ladies and gentlemen. The first half of 2026 brought very good financial results and results in terms of efficiency throughout the entire KJGM group. Revenues up by almost 40%, almost 90% increase of EBITDA compared with the first half of the previous year. And it is worth stressing that all that happened with a simultaneous decrease of debt throughout the group and a significant strengthening of cash flows. We also saw a significant stabilization and optimization of operations which led to great efficiencies and costs. Of course, we continue to work on this because we want to take advantage of the good macroeconomic environment in order to build a financial base for the implementation of our investments in Poland and to take advantage of what our foreign assets offer. Not a long time ago we presented our strategy. The strategy which shows the priorities of our management board and regarding operationalization and implementation of strategic initiatives, I would li...