The Mint of Poland Group results, generated in the first half of this year, confirm its strong position and financial stability. Increases were recorded in every business segment. Sales revenues, year-on-year, were higher by 25% (PLN 712.4 million), and net profit by almost PLN 25 million (PLN 60.8 million). EBITDA amounted to PLN 78.6 million.

– In the first six months of this year, compared to last year's period, the Group achieved higher financial results in each business segment and higher profitability ratios. The increase in revenues was driven in particular by the recording of proceeds from the sale of final housing units within the Bulwary Praskie development and increased demand for gold investment products in the mint segment. The Group's liquidity remained high. Thanks to the stable situation, as well as the prospects we identified for further growth, we were able to confirm Mint's attractiveness to Shareholders for another consecutive year. In May of this year, we paid a dividend of PLN 1.25 per share – concluded Katarzyna Budnicka, President and Chief Executive Officer at the Mint of Poland.

Sales revenues in the Mint segment were higher y-o-y by more than PLN 42 million (PLN 496.2 million in I HY 2024 vs. PLN 453.6 million in I HY 2023). Segment result was PLN 23.1 million (PLN 21.7 million in I HY 2023), and EBITDA amounted to PLN 27 million (PLN 24.9 million in I HY 2023).

During the first six months of this year, more than 1.1 tons of gold, mainly in the form of bars and bullion coins, were delivered to Mint of Poland customers. The company has been very actively developing its sales network for investment products. Currently, the Mint of Poland already has 16 of its own sales outlets, including six stationary stores and 10 gold sales offices. In each of them, customers can rely on expert advice and tailored offers for both investment and collectable products.

In the circulation coin segment, in the domestic market, the Mint of Poland continued its stable cooperation with the National Bank of Poland. In foreign circulation, important projects were realizations for the Bank of Colombia, the Central Bank of the Dominican Republic, the Bank of Guatemala, the Rastra Bank of Nepal and the National Bank of Georgia. These contracts had a significant impact on the implementation of the adopted budget. 

An important event in the first half of the year was the Mint's winning of a tender in Africa, which will allow it to actively participate in several tender proceedings, where the requirement was to document experience in the local market. Agreements were also signed with central banks in the Dominican Republic, Colombia, Costa Rica, Nicaragua and Georgia. Execution of the new projects will take place in part as early as 2024 and in the following years 2025-2026.

Moreover, during the reporting period, the Mint of Poland won seven of the 11 proceedings, one of which has yet to be decided. Five tenders involved the production and supply of circulation coins for the central banks of Costa Rica, Tanzania, Guatemala, the Dominican Republic and Zambia. Two proceedings were for collector coins for Uruguay and Tanzania.

In the analyzed period, the segment's revenues amounted to PLN 115.1 million, compared to PLN 113.5 million in the same period a year earlier. The segment result was PLN 5.2 million (PLN 4.1 million in HY 2023), and EBITDA amounted to PLN 10.7 million (PLN 9.4 million in HY 2023).

In the first half of the year, the Mint of Poland, as one of four companies, joined the operational and technical dialogue in Warsaw. Its idea was for ZTM to work out the target provisions of the OPZ for the tender for the implementation of a modern ticketing system in the capital. Publication of the final provisions of the Description of the Subject of the Procurement may take place by the end of the third quarter of this year.

In the first half of 2024, Mint of Poland sold more than 7,500 sq. m. PUM. Segment revenues were higher, compared to the same period a year earlier, by nearly PLN 98 million (PLN 101.1 million in I HY 2024 vs. PLN 3.2 million in I HY 2023). The segment result was PLN 41.5 million (PLN -3.3 million in I HY 2023). The EBITDA result, including the share of equity method investments in the results, is PLN 43.1 million (PLN 10.7 million I HY 2023).

As part of the " Bulwary Praskie" project, ownership of a total of 320 units from quarters S-R was transferred to apartment buyers by the end of June 2024, including 160 during the first half of 2024. Construction is currently underway on 10 buildings in the NOP quarters, where a total of 747 apartments will be built. Within the NOP quarters, 195 apartments have been sold, confirmed by signed development agreements or preliminary agreements. Twenty-four reservation agreements have also been concluded with customers. Completion of the NOP phase is scheduled for the second quarter of next year. Commitment to the development business will ensure that the Group realizes solid financial results in future periods as well.