Niewiadów Polska Grupa Militarna has completed 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 time of record capital expenditures for the company and the intensive implementation of the strategic project to build a 155 mm artillery ammunition factory. Despite the temporary impact of transformation costs on reported profitability—with revenue of PLN 70.1 million and a net loss of PLN 0.8 million—the company is laying a solid foundation for a sharp increase in the scale of its operations in the coming years.
– The year 2025 marked the beginning of a new era in Niewiadów’s history. All the steps we took during this period laid the groundwork for our historic debut on the Main Market of the Warsaw Stock Exchange, which took place on April 21, 2026. We have joined the stock market elite of the European defense sector. We are focused on tangibly strengthening Poland’s security. Thanks to secured financing of PLN 250 million, we will begin serial production of 155 mm ammunition as early as the fourth quarter of 2026. “Our current financial results reflect the enormous, necessary investment effort that will allow us to reach our target production capacity of up to 180,000 units per year and build the country’s technological independence in the operation of the KRAB and K9A1 systems ,” says Adam Januszko, CEO of Niewiadowa Polska Grupa Militarna.
A key pillar of the Group’s activities in 2025 was the construction of a 155-mm artillery ammunition factory at the Niewiadów plant. Last year, advanced construction and infrastructure modernization work was carried out there. According to the approved schedule, the installation of production lines is planned for the third quarter of 2026, which will enable the start of serial production of 155 mm ammunition as early as the fourth quarter of this year.
In 2025, Niewiadów Polska Grupa Militarna generated PLN 70.1 million in sales revenue (compared to PLN 76.6 million the previous year). The main pillar of the company’s operations remained the production and development of defense systems, which generated PLN 51.5 million in revenue. The decline in profitability—a drop in EBITDA to PLN 0.8 million and a net loss of PLN 0.8 million—was primarily driven by capital expenditures related to the construction of a new factory and the costs of operational integration of the Group’s structures prior to its debut on the regulated market of the Warsaw Stock Exchange. The Management Board emphasizes that the expenditures incurred are an essential element of the strategy, which is expected to deliver significant growth in results once full production capacity is achieved.