VRG stock reports 18 percent revenue growth in first half
Published on 09/25/2026 at 06:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
VRG stock stood at PLN 5.08 on the GPW on September 24, 2026, after a daily decline of 0.78 percent. The Polish fashion and jewelry group reported first-half revenue growth of 18.0 percent to PLN 791.9 million, making operating profitability the central investment question.
Revenue growth reaches 18 percent
According to Fashion Business on August 26, 2026, VRG generated PLN 791.9 million in sales during the first half of 2026, up 18.0 percent from the prior-year period. EBITDA rose 29.1 percent to PLN 151.1 million, while net profit increased 28.8 percent to PLN 44.6 million.
The margin trend adds quality to the growth. Gross margin on sales reached 58.3 percent in H1 2026, compared with 55.8 percent a year earlier, a gain of 2.5 percentage points.
Millennium lifts target to PLN 7.20
Parkiet reported on September 10, 2026, that Millennium raised its recommendation from accumulate to buy and lifted its target price from PLN 6.22 to PLN 7.20. The report followed the stronger first-half figures and highlighted continued development in the W.KRUK jewelry network and further operational improvement in apparel.
The target-price change is material in absolute terms, but the market quote tells a more restrained story. At PLN 5.08 on September 24, 2026, the stock was PLN 0.78 below the raised target and 13.3 percent below its 52-week high of PLN 5.86.
Stock remains below yearly high
VRG operates the Vistula, Bytom, Wólczanka, Deni Cler Milano, W.KRUK and Lilou brands across its apparel and jewelry businesses. Online sales represented 15.6 percent of group revenue in H1 2026, while total retail space reached 53.1 thousand square meters, up 8.5 percent year over year.
For investors, the key contrast is clear: first-half EBITDA expanded 29.1 percent and gross margin improved by 2.5 percentage points, yet the share price remained below its yearly peak. That combination puts execution in the second half of 2026 alongside the raised valuation as the main test for the stock.
VRG closes at PLN 5.08
VRG stock stood at PLN 5.08 on the GPW on September 24, 2026, down 0.78 percent from the previous session. The quote was 13.3 percent below the 52-week high of PLN 5.86, while the latest reported half-year figures showed revenue, EBITDA and net profit all growing year over year.
VRG market snapshot
- Company: VRG S.A.
- Ticker: VRG.WA
- Trading venue: GPW
- Price as of September 24, 2026: PLN 5.08
- Market capitalization: PLN 1,191,035,667 as of September 24, 2026
- 52-week range: PLN 4.33-5.86 as of September 24, 2026
- Sector / Industry: Consumer Discretionary, fashion and jewelry retail
