PTWP Group has published its financial results for the first time after acquiring a majority stake in Gremi Media. In the first quarter of 2026, the Group generated PLN 52 million in consolidated revenue, representing growth of more than 118% compared with the same period of the previous year. This was the best start to a year in terms of revenue in the Group’s history.
In the reporting period, the Group recorded positive EBITDA of PLN 1.2 million, an operating loss of PLN 3.2 million and a net loss of PLN 2.9 million. The first-quarter results were mainly affected by expenditure related to ongoing investments, organisational changes and optimisation processes carried out as part of PTWP Group’s preparation for the second quarter, which is traditionally very effective, as well as for further business scaling.
The result is in line with the management board’s earlier assumptions and adopted development plan. At the end of March 2026, the Group had a cash position of PLN 41.5 million. The management board of PTWP recommended allocating PLN 9.5 million for the payment of a dividend for 2025, which would mean a gross payment of PLN 5.89 per share. PTWP SA’s Ordinary General Meeting has been convened for 25 June this year.
“The results for the first quarter are in line with our expectations and fit into the long-term development strategy pursued by PTWP Group. For the first time, they show results including consolidated data from Gremi Media and Elamed Media Group. The first three months of this year were a period of very intensive organisational and investment work. The effects have not yet translated into the first-quarter result, but I can already declare that they will be visible in the coming quarters. The acquisitions carried out significantly increase our business capabilities. At the same time, we are conducting a range of activities aimed at preparing the Group for further expansion and operation on a larger scale, both in media, events and new business projects. We are also maintaining a very good financial condition and a high level of contracting for the coming months,” says Wojciech Kuśpik, President of PTWP Group.
During the reporting period, PTWP Group continued reorganisation and optimisation measures across the entire capital group. Changes were made to the organisational structure, team competencies were developed, new employees were recruited, and solutions were implemented to increase operational efficiency and adapt the product offer to customer expectations.
At the same time, the Group worked on improving IT systems and implementing synergies following the acquisition of media and event assets. The Group recorded an increase in depreciation and amortisation costs of PLN 4.3 million, up 885% year on year, which directly contributed to a higher level of loss. The increased depreciation and amortisation is temporary, and its share in total costs is expected to decline in the coming quarters.
An important event for the Group’s development in the first quarter was the acquisition by PTWP Online sp. z o.o. of 100% of shares in Elamed. The acquired company is active in publishing specialist magazines, running websites, preparing educational materials and organising conferences and training sessions for professionals from many sectors. PTWP’s management board sees this transaction as one element in the implementation of its strategy to strengthen the Group’s competencies in specialist media and educational activity.
Last year, PTWP Group carried out a strategic acquisition, taking a majority stake of 56.82% in Gremi Media, the publisher of the daily newspapers Rzeczpospolita and Parkiet. Thanks to this transaction, the Group significantly strengthened its position in the segment of nationwide information and business media, gaining new opportunities in the integration of content, formats and operating models.
“The first quarter is traditionally associated with a weaker result due to the seasonality of our business. It is also a time of preparation for our most intensive second quarter, whose key event is the European Economic Congress. We are already seeing a very high level of contracting and expect clearly better results in the second quarter, as well as a satisfactory result for the whole first half of the year. In the coming months, the effects of the organisational changes and synergies within the Group will also become increasingly visible,” emphasises Wojciech Kuśpik.
In the first quarter of 2026, PTWP Group organised a number of business and industry events, including EXPOGołębie, 4 Design Days, EEC Trends, the Health Challenges Congress, a series of agricultural conferences, the Future Retail Congress, and the first Financial Market Forum held jointly with Rzeczpospolita. The first months of the year were also a period of intensive preparations for the European Economic Congress, the largest event in the Group’s portfolio.
PTWP Group is also developing its media business. It currently publishes 17 websites covering topics such as the economy, local government, real estate, agri-food, the labour market and healthcare. PTWP’s websites attract an average of more than 30 million unique users per month, while the number of newsletter subscribers has exceeded 300,000. Individual websites are consistently strengthening their leading positions in specialised market segments.
Within Gremi Media Group’s operations, the development of the online segment as well as editorial and expert projects continued. Rzeczpospolita maintained its position as the most opinion-forming medium according to the Institute of Media Monitoring and remains the subscription leader among nationwide daily newspapers.
Significant Group resources were also involved in managing the International Congress Centre and Spodek in Katowice. In the first quarter of 2026, the venues hosted numerous trade fair, conference and entertainment events, industry fairs, concerts, and cultural and educational events. The level of event contracting for the coming months remains high.
At the end of March 2026, the Group had a cash position of PLN 41.5 million. The Group’s very good financial condition allowed PTWP’s management board to recommend allocating the entire standalone net profit for 2025, amounting to PLN 7.5 million, and PLN 2 million from reserve capital for the payment of a dividend. If the resolution is adopted by the Ordinary General Meeting convened for 25 June this year, PTWP shareholders will receive a total of PLN 9.5 million, or PLN 5.89 gross per share. The company regularly shares profit with shareholders; for the years 2021–2024, it paid out nearly PLN 25 million in dividends.
On 28 May, PTWP’s management board adopted the regulations for an incentive programme for 2026–2027 for key employees and associates of the Group. The programme provides for the issue of up to 81,596 new series D or subsequent-series shares in total, subject to the achievement of specified financial results.
For the first stage of the incentive programme, covering the 2026 financial year, the financial criterion was set as achieving consolidated gross profit for 2026 of at least PLN 20 million. Under the first stage of the programme, participants will be able to take up to 46,000 shares at an issue price corresponding to 40% of the share value based on the opening price of the company’s shares on the Warsaw Stock Exchange session on the date the regulations were adopted, i.e. PLN 51.20.
For the second stage of the incentive programme, covering the 2027 financial year, the financial criterion and the share issue price will be determined by the management board by 30 June 2027.
Source: CEO.com.pl
