Niewiadów Polska Grupa Militarna has finalized its transition to the Main Market of the Warsaw Stock Exchange, joining the elite group of Europe’s largest defense-sector companies listed on European stock exchanges. The year 2025 was a period of record capital expenditure for the company and intensive implementation of its strategic project to build a 155 mm artillery ammunition factory. Despite the temporary impact of transformation costs on reported profitability – with revenue of 70.1 million PLN and a net loss of 0.8 million – the company is building solid foundations for a step change in the scale of its operations in the coming years.
Photo: Niewiadów Polska Grupa Militarna
“2025 was a time for us to build a new era in the history of Niewiadów. All the measures undertaken during this period formed a direct foundation for our historic debut on the Main Market of the Warsaw Stock Exchange, which took place on April 21, 2026. We joined the stock-exchange elite of the European defense sector. We are focused on genuinely strengthening Poland’s security. With financing secured at the level of PLN 250 million, we will begin serial production of 155 mm ammunition as early as the fourth quarter of 2026. The current financial results reflect the huge, necessary investment effort that will enable us to reach target production capacity of up to 180,000 rounds per year and build the country’s technological independence in supporting the Krab and K9A1 systems,” said Adam Januszko, President of the Management Board of Niewiadów Polska Grupa Militarna.
A key pillar of the Group’s activity in 2025 was the construction of a 155 mm artillery ammunition factory at the plant in Niewiadów. Last year, advanced construction work and infrastructure modernization were carried out there. In line with the adopted schedule, installation of the production lines is planned for the third quarter of 2026, which will enable serial production of 155 mm ammunition to begin in the fourth quarter of this year.
In 2025, Niewiadów Polska Grupa Militarna generated 70.1 million PLN in sales revenue, compared with 76.6 million PLN a year earlier. The main pillar of its operations remained the production and development of defense systems, which generated 51.5 million PLN in revenue. The weakening of profitability – with EBITDA falling to 0.8 million PLN and a net loss of 0.8 million PLN recorded – was primarily caused by capital expenditure related to the construction of the new factory and the costs of operational integration of the Group’s structures ahead of its debut on the regulated market of the Warsaw Stock Exchange. The Management Board emphasizes that the expenditure incurred is an essential element of the strategy, which is expected to bring a significant improvement in results once full production capacity is launched.
Press release
See also:
- Niewiadów Polska Grupa Militarna debuts on the WSE Main Market: A new chapter in Poland’s defense sector
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