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CRI GPW mWIG40 Periodic report · PAP Biznes

Creotech Instruments SA (CRI) · Q2 2026 results

Share price: 787.00 zł · 2026-11-10

Creotech Instruments SA is a producer and integrator of satellites and satellite systems. The company designs, manufactures, and tests satellites using its own platform for the space sector. Sources: Half-year report (2026-09-28) · Wikipedia

Results Q2 2026 vs Q2 2025 · year over year · published 28 Sep 2026 and 26 Sep 2025

Net income down 91.2% year on year. The report's language is unchanged.

1 · Numbers

−91.2%

Net income vs Q2 2025

Net income 312.0K vs 3.5M

Revenue +53.9%

Why Net income fell primarily because operating costs increased by 28.9 million PLN due to higher payroll, social insurance, and subcontractor costs, while the quantum segment was reclassified as discontinued operations following a corporate split.

2 · How the report reads

Unchanged

Language tone vs last period

Report language: upbeat for a company report — about as upbeat as in Q2 2025.

Weak signal: formal report language, not a call.

3 · What stood out

Creotech Instruments SA signed a contract with the European Space Agency for the "IOD B – Dynamic Satellite Tasking" project.

Official channels

The company's own website and social media accounts.

Read between the lines

  1. Figure

    Sales from continuing operations for the first six months of 2026 reached 84.1 million PLN, which was 21.2 million PLN higher than the same period in the previous year.

    Source quote
    “Revenue from the sale of products from the Company's continuing operations for the 6-month period ended June 30, 2026, amounted to 84.1 million PLN and were higher by 21.2 million PLN compared to the same period of the previous year.”
  2. Figure

    Following a division on April 1, 2026, the Company's share in Creotech Quantum S.A. capital decreased to 34%.

    Source quote
    “As a result of the split carried out on April 1, 2026, described in more detail in note 10.7, the Company's share in the share capital of Creotech Quantum S.A. decreased to 34%.”
  3. Figure

    The fair value of the quantum companies segment was set at 698,421 thousand PLN based on Creotech Quantum S.A. trading on the GPW in Warsaw from April 17 to April 23, 2026.

    Source quote
    “The fair value of the quantum companies segment in the amount of 698,421 thousand PLN was determined based on the quotations of Creotech Quantum S.A. on the GPW in Warsaw in the period from April 17, 2026, to April 23, 2026 (the first five days of trading).”
  4. Key theme

    CRI signed a contract with the European Space Agency for the "IOD B – Dynamic Satellite Tasking" project as reported in current report ESPI 44/2026.

    Source quote
    “Signing of the agreement with the European Space Agency for the implementation of the project titled 'IOD B – Dynamic Satellite Tasking' (current report ESPI 44/2026)." — notable figure this quarter (salience: 89) Signing of the agreement with the European Space Agency for the implementation of the project titled "IOD B – Dynamic Satellite Tasking" (current report ESPI 44/2026).”
  5. Key theme

    On September 1, 2025, the Company entered into a subcontracting agreement with Creotech Geo P.S.A. for the "DTM Tools" project with a total value of 448,399 EUR net.

    Source quote
    “On September 1, 2025, the Company entered into a subcontracting agreement with Creotech Geo P.S.A. regarding the "DTM Tools" project with a total value of 448,399 EUR net." — notable figure this quarter (salience: 89) On September 1, 2025, the Company entered into a subcontracting agreement with Creotech Geo P.S.A. regarding the "DTM Tools" project with a total value of 448,399 EUR net.”
2 more
  1. Key theme

    Revenue increased primarily due to the achievement of a milestone in the Mikroglob project.

    Source quote
    “Revenue growth was primarily driven by the achievement of one of the milestones in the Mikroglob project.”
  2. Figure

    The company signed a preliminary agreement to purchase two plots of land for 20.1 million PLN to build a production plant.

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q2 2025.

Report language Upbeat (was upbeat)

Upbeat for a company report — about as upbeat as in Q2 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
““Low LEO Pre-Operational and De-Risk Activities” (current report ESPI 50/2026), ▪”

Full figures

PLN · PAP Biznes report (2026-09-28)

Metric Q2 2026 Q2 2025 Change
Revenue 68.6M 44.6M +53.9%
Operating income 9.5M 4.0M +138.0%
Net income 312.0K 3.5M −91.2%
EPS 3.05 1.37 +122.6%
P/E today 156.0 154.0 12-mo loss —

Topics

Topics are drawn from the full report text, not management commentary.

Most discussed now

  • New The result of the demerger was the transfer of the quantum systems segment and the free allotment of shares in Creotech Quantum S.A.
  • New The market trading price used for the valuation of financial assets is the current purchase rate.
  • New Changes in the classification of financial instruments resulting from a change in purpose or use of these assets
  • New At the time of settlement of the liability, the Company recognized in the financial result the difference between the carrying amount of…
  • New Provision for subcontractor costs in projects - the amount provided is based on obligations arising from contracts that have not been…

Top topics in Q2 2025

  • Nothing dropped away.

Latest announcements

Official filings, newest first. Summaries are generated from each filing and its attachment; every figure is checked against the source.

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