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LPP GPW WIG20 Periodic report · PAP Biznes

LPP (LPP) · H1 2026 results

Share price: 28460.00 zł · 2026-11-10

LPP is a Polish company that designs, produces, and distributes clothing under five fashion brands. It sells its products through stationary and online stores in 40 markets worldwide. Source: Wikipedia

Results H1 2026 vs H1 2025 · year over year · published 17 Sep 2026 and 25 Sep 2025

Net income up 55.6% year on year. The language turned more upbeat.

1 · Numbers

+55.6%

Net income vs H1 2025

Net income 1.24B vs 799.0M

Revenue +14.7%

Why Net income rose mainly because of higher gross margin on sales, lower performance marketing spending, and the absence of 293 million PLN in losses from a warehouse fire in Romania during the comparative period.

2 · How the report reads

More upbeat

Language tone vs last period

Report language: upbeat for a company report — more upbeat than in H1 2025.

Weak signal: formal report language, not a call.

3 · What stood out

LPP SA decided to pay a total dividend of 1,673 million PLN, which amounts to 900 PLN per share, using all 2026 profits and 55.7 million PLN of reserve capital.

Official channels

The company's own website and social media accounts.

Read between the lines

  1. Figure

    The Group's 2026 sales plans target approximately 26-27 billion PLN due to year-over-year growth in traditional sales and the online channel.

    Source quote
    “The Group's sales plans for the entire 2026 financial year assume the possibility of achieving approximately PLN 26-27 billion in sales, with a y/y increase in the traditional sales segment (due to area growth and positive LFL) and growth in the online channel.”
  2. Figure

    The Group achieved a gross margin on sales of 58.0% in the first half of 2026, representing an increase of 4.0 percentage points year-on-year.

    Source quote
    “In the first half of 2026, the Group achieved a gross margin on sales of 58.0%, representing an increase of 4.0 pp. y/y.”
  3. Figure

    Group operating profitability (EBIT margin) rose to 15.1% compared to 11.0% in the first half of 2025.

    Source quote
    “The Group's operating profitability (EBIT margin) was 15.1% compared to 11.0% in the first half of 2025.”
  4. Figure

    The company aims to maintain a safe level of debt by keeping the net debt to EBITDA ratio at approximately 1.0.

  5. Figure

    The Group achieved an operating profit of 1,815 million PLN in the first half of 2026, which is 57.4% higher than the 1,153 million PLN reported in the previous year.

3 more
  1. Figure

    Foreign sales grew at a rate of 18.3% year-over-year, outperforming the 10.1% growth in domestic Polish sales.

    Source quote
    “Foreign sales grew faster than domestic sales, reaching a growth rate of 18.3% y/y compared to 10.1% y/y in Poland.”
  2. Figure

    Liabilities, including trade payables, rose by approximately 16% to 6 billion PLN as of July 31, 2026, compared to January 31, 2026.

    Source quote
    “As of the balance sheet date of July 31, 2026, the value of liabilities, including trade payables, amounted to PLN 6 billion and increased by approximately 16% compared to the position as of January 31, 2026.”
  3. Figure

    As of July 31, 2026, the value of guarantees provided by the parent company reached 294 million PLN.

    Source quote
    “On July 31, 2026, the value of guarantees provided by the Parent Company amounted to 294 million PLN.”

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: H1 2026. Ring: H1 2025.

Report language Upbeat (was typical)

Upbeat for a company report — more upbeat than in H1 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
“» The decline in the economic growth rate in the Group's regions of presence and its impact on customer behavior.”

Full figures

PLN · PAP Biznes report (2026-09-17), consolidated statement; H1 vs the same period a year earlier (restated); net income to parent shareholders

Metric H1 2026 H1 2025 Change
Revenue 12.05B 10.51B +14.7%
Gross profit 6.99B 5.67B +23.2%
Operating income 1.81B 1.15B +57.4%
Net income 1.24B 799.0M +55.6%
P/E today 26.3 20.8 17.7 +3.1

Topics

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

Most discussed now

  • New The lowest share value in history was recorded by the Company on May 18, 2001:
  • New In 2026, the Group included changes in impairment allowances for the value of receivables in relation to all receivables or assets from…
  • New The Group has started construction of an e-commerce warehouse in Tczew, the operation of which in the first quarter of 2027 will support…
  • New During the same period, due to a policy held that covered assets losses in full, the Group estimated the value of future compensation for…
  • New Net profit margin was 10.3% compared to 7.6% in the same period of the previous year.

Faded since H1 2025

  • Fading LPP is responsible for formulating an opinion on this interim condensed consolidated financial statement based on the review it performed.

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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