ZE PAK stock reports weaker half year as revenue falls 11.50 percent

Published on 10/01/2026 at 04:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ZE PAK stock posted PLN 570.27 million in first-half 2026 sales and a PLN 53.58 million net loss. A 409 MW capacity contract adds PLN 133.04 million for 2027.

ZE PAK, PLZEPAK00012, Illustration mit AI erstellt.

ZE PAK stock is tied to a difficult transition as the Polish energy group reported PLN 570.27 million in first-half 2026 sales, down 11.50 percent from PLN 644.47 million a year earlier. The company also recorded a PLN 53.58 million net loss for the period, according to PAP MediaRoom on September 25, 2026.

Half-year revenue falls

The revenue decline came with a deeper operating loss. ZE PAK reported a PLN 67.83 million operating loss in the first half of 2026, compared with PLN 56.25 million in the same period of 2025.

Net loss nevertheless improved from PLN 79.57 million to PLN 53.58 million year over year. Operating cash flow increased from PLN 87.80 million to PLN 119.82 million, while net earnings per share improved from a loss of PLN 1.57 to a loss of PLN 1.05, the PAP MediaRoom report showed.

Capacity contract supports transition

ZE PAK also secured a 409 MW capacity obligation for the 2027 delivery year. The contract is valued at PLN 133.04 million at an auction clearing price of PLN 325.55 per kilowatt per year, according to PAP on September 8, 2026.

The operating picture reflects a structural shift away from lignite. Parkiet reported on September 30, 2026, that continuous coal production ended during the first half and group employment fell by 504 people. The company is developing a 562 MW gas-fired unit in Turek, with completion targeted for the end of 2027.

ZE PAK shares remain below yearly high

ZE PAK shares stood at PLN 17.50 on the Warsaw Stock Exchange on September 30, 2026 at 5:00 p.m. CEST, down 0.57 percent on the session. The 52-week range was PLN 15.50 to PLN 24.50, placing the quote PLN 7.00 below the yearly high and PLN 2.00 above the yearly low. Market capitalization was PLN 889.4 million as of September 30, 2026.