WPL GPW mWIG40 Periodic report · PAP Biznes
WP Holding (WPL) · Q2 2026 results
Share price: 54.80 zł · 2026-11-10
WP Holding is a technology holding company operating in the media, advertising, subscription, and e-commerce sectors. It operates specialized thematic websites, subscription services, and e-commerce platforms in the travel and financial industries. Sources: Half-year report (2026-09-08) · Wikipedia
Results Q2 2026 vs Q2 2025 · year over year · published 8 Sep 2026 and 26 Aug 2025
Operating income down 15.7% year on year. The language turned more cautious.
1 · Numbers
−15.7%
Operating income vs Q2 2025
Operating income 51.3M vs 60.9M
Why Operating income fell by 15.7% primarily due to the negative impact of the intensified conflict in the Middle East on the sale of foreign tour packages.
2 · How the report reads
More cautious
Language tone vs last period
Report language: typical for a company report — more cautious than in Q2 2025.
Weak signal: formal report language, not a call.
3 · What stood out
WP Holding SA recognized a profit of 27.6 million PLN from the sale of its subsidiary, Invia Flights Germany GmbH, in the second quarter of 2026.
Read between the lines
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Figure
Corrected EBITDA fell by 15% year-over-year because ongoing investments in journalism, video production, and AI technologies increased operating costs.
Source quote
“Adjusted EBITDA was lower by 15% y/y, primarily due to ongoing investments (i.e., quality journalism, video productions (5 new programs were launched in February and March), AI in the publishing product, AI in WP Booster advertising products, development of WP ADS, WPartner, and WKreator), which impacts the increase in operating costs compared to y/y.”
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Figure
WPL recognized a profit of 27.6 million PLN from the sale of its subsidiary, Invia Flights Germany GmbH, in the second quarter of 2026.
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Figure
Segment revenues increased 54% year-on-year to 685.4 million PLN and adjusted EBITDA rose 12% to 87.3 million PLN primarily due to the first-time inclusion of Invia Group revenues.
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Figure
IF sold 25,000 shares representing 100% of IFG's share capital and received 45.5 million EUR in payment.
Source quote
“As a result of the transaction, IF sold 25,000 shares, representing a total of 100% of IFG's share capital, and received payment for the shares in the amount of 45.5 million EUR.”
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Figure
In the first half of 2026, segment revenue fell 4% year-over-year to 112.3 million PLN, while adjusted EBITDA increased by 10% year-over-year to 17.2 million PLN.
3 more
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Figure
The company allocated 225,859,670 PLN from reserve capital of retained earnings for the acquisition of Negotiable Shares.
Source quote
“The total amount allocated by the Company for the purpose of acquiring the Acquired Shares amounted to 225,859,670 PLN and originated from the reserve capital established based on the Resolution of the General Meeting from retained earnings from previous years.”
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Figure
Net debt under IFRS 16 decreased to 1,282.6 million PLN by the end of June 2026 compared to 1,426.4 million PLN at the end of March 2026.
Source quote
“Net debt at the end of June 2026 according to IFRS 16 amounted to PLN 1,282.6 million, compared to PLN 1,426.4 million at the end of March 2026.”
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Key theme
The Management expects a double-digit percentage year-on-year increase in segment revenue for the third quarter of 2026.
Source quote
“As of the reporting date, in Q3 2026, the Management Board expects a double-digit growth in segment revenue, on a y/y basis.”
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.
Typical for a company report — more cautious than 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
“The Group began to observe the negative impact of the geopolitical conflict on the number of bookings, which resulted in a year-on-year decline in area revenue in March 2026 of approximately”
“As a result, lower sales dynamics, a lack of revenue growth, or a temporary decline in revenue may occur in subsequent quarters.”
“At the same time, the commission-based business model limits the risk of incurring significant losses, reducing the OTA model's sensitivity to short-term demand volatility.”
Full figures
PLN · PAP Biznes report (2026-09-08)
| Metric | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | — | 912.8M | |
| Operating income | 51.3M | 60.9M | −15.7% |
| Net income | 47.1M | 3.2M | +1389.5% |
| P/E | 12-mo loss | 14.0 | — |
Topics
Topics are drawn from the full report text, not management commentary.
Most discussed now
- New In order to maintain or adjust the capital structure, the Group may change the dividend payout to shareholders, return capital to…
- New The Group, as a technology entity, constantly develops its services and internal systems supporting business operations through its own…
- New After analyzing the above factors, the Group determined that there is no foreseeable time limit.
- New The cash loan sales market impacts Totalmoney's operations.
- Wirtualna Polska Holding and other entities of the Capital Group were established for an indefinite period.
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.
- Half-year report · ESPI periodic · routine
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Wirtualna Polska Media S.A. recognized additional gains of 66.8 million PLN in the second quarter of 2026 due to the CIT tax overpayment correction for the years 2020-2024.
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- Znaczne pakiety akcji/Zmiana stanu posiadania · ESPI 21/2026
Wirtualna Polska Holding S.A. acquired 3,828,130 treasury shares, increasing its share in the share capital from 0% to approximately 12.86% and its share in the total number of votes from 0% to approximately 9.32%.
- Znaczne pakiety akcji/Zmiana stanu posiadania · ESPI 20/2026
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- Wykaz akcjonariuszy posiadających co najmniej 5% liczby głosów na Zwyczajnym Walnym Zgromadzeniu Wirtualna Polska Holding S.A. w dniu 2 czerwca 2026 r. · ESPI 18/2026 · routine
- Podjęcie uchwały Zarządu Wirtualna Polska Holding S.A. w sprawie nabycia akcji własnych Wirtualna Polska Holding S.A. · ESPI 17/2026
The Management Board of Wirtualna Polska Holding S.A. adopted a resolution to acquire 3,828,130 treasury shares at a price of PLN 59.00 per share, with a total allocated amount of PLN 225,859,670.00.