Knowledge base
Articles and guides
KRS data analyses, industry rankings and guides on companies, share capital and financial statements - backed by real examples.
Explainer
JSW in 2026: Europe's largest coking-coal producer, an mWIG40 issuer from Jastrzębie-Zdrój, six mines under State-Treasury control
Jastrzębska Spółka Węglowa S.A. (KRS 0000072093), headquartered at Aleja Jana Pawła II 4 in Jastrzębie-Zdrój, is Europe's largest producer of coking coal (used in steelmaking, unlike Bogdanka's thermal coal). Controlled by the State Treasury, listed on the WSE since July 2011, the company is an mWIG40 constituent. It operates six mines in the Upper Silesian Coal Basin. A four-member management board, a nine-member supervisory board.
May 1, 2026
News
Kogeneracja 2026: EBITDA PLN 579 m (+29% YoY), net profit PLN 277 m (+37%) - first full year of the EC Czechnica-2 gas block (315 MWt + 179 MWe)
Wrocław-based Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. (KRS 0000001010), part of the PGE Energia Ciepła group controlled by PGE Polska Grupa Energetyczna, closed 2025 with EBITDA of PLN 579 m (+PLN 131 m, +29.2% YoY) and net profit of PLN 277 m (+PLN 75 m, +37%). Electricity sales 2,837 GWh (+31% YoY) - mainly the effect of the EC Czechnica-2 gas-steam block commissioned in May 2025 (315 MWt + 179 MWe). Heat sales +6% YoY (a colder 2025). CO2 allowance costs fell by PLN 112 m, while capacity-market and high-efficiency cogeneration support revenue rose by PLN 57 m.
May 1, 2026
Explainer
Text (formerly LiveChat) in 2026: a Wrocław SaaS under a new brand after the 2024 rebrand, a two-member management board, an mWIG40 issuer exporting to the US
Text S.A. (KRS 0000290756), headquartered at ul. Zwycięska 47 in Wrocław, is the Wrocław SaaS company previously known as LiveChat Software, offering customer-support products (LiveChat chat widget, HelpDesk, ChatBot, KnowledgeBase). In 2024 the company rebranded from LiveChat Software to Text S.A. Founded in 2002 by Mariusz Ciepły, listed on the WSE since 2014, the company is an mWIG40 constituent. A two-member management board (one of the smallest in the mWIG40), a five-member supervisory board.
May 1, 2026
News
Longevity Center launches Longevity Academy: Poland's first accredited longevity-medicine educational programme for doctors
Warsaw-based Longevity Center sp. z o.o. (KRS 0000796083, ul. Belwederska 9) has launched Longevity Academy - one of the first in the world and the first in Poland accredited longevity-medicine educational programme for doctors. Accreditation by the Polish Medical Chamber; scientific partner: the Buck Institute for Research on Aging in California. The programme is built on 6+ years of clinical practice and 3,000+ patients.
May 1, 2026
Explainer
Mabion in 2026: a Polish biotech producer of monoclonal antibodies, an mWIG40 issuer from Konstantynów Łódzki, the Novavax contract for COVID-19 antigen
Mabion S.A. (KRS 0000340462), headquartered at ul. Gen. Mariana Langiewicza 60 in Konstantynów Łódzki, is a Polish biotech specialising in the production of monoclonal antibodies (key project: MabionCD20 - a rituximab biosimilar) and in CDMO (Contract Development and Manufacturing Organization) contracts. The main international contract: manufacturing the COVID-19 vaccine antigen for Novavax. Founded in 2007 by Maciej Wieczorek, listed on the WSE since 2010, the company is an mWIG40 constituent. A three-member management board, a five-member supervisory board.
May 1, 2026
News
MCI Capital 2026: record exits of PLN 815 m - sale of IAI Group for over PLN 1 bn, NAV PLN 2.1 bn and a PLN 83 m dividend recommendation (4% of equity, ~5.6%)
Warsaw-based MCI Capital ASI S.A. (KRS 0000004542) closed 2025 with net profit of PLN 45.5 m and NAV of PLN 2.1 bn. The most important transaction was the sale of IAI Group to Montagu PE (over PLN 1 bn, MCI.EuroVentures 1.0 net proceeds PLN 470.5 m) - the largest CEE B2B-software deal of 2025. Total 2025 exits: around PLN 815 m for MCI (from transactions worth over PLN 890 m total), including Answear, Gett, Netrisk, Webcon. Dividend policy of 4% of equity: PLN 83 m recommendation (~5.6% yield). Portfolio companies generate over PLN 500 m of normalised EBITDA, 26-year NAV CAGR around 15%.
May 1, 2026
News
Medicalgorithmics 2026: first positive quarterly EBITDA (Q4 2025: +PLN 1 m), revenue PLN 31 m (+29% YoY) and the US +452% YoY - medtech-AI cardiology turnaround
Warsaw-based Medicalgorithmics S.A. (KRS 0000372848) - maker of the flagship PocketECG remote heart-rhythm monitoring system - closed 2025 with revenue of PLN 31 m (+29% YoY) and reached its first positive quarterly EBITDA in Q4 2025 (+PLN 1.0 m). Q4 alone: revenue PLN 10.2 m (+74% YoY, +42% QoQ), of which the US market PLN 4.8 m (+452% YoY). ECG studies ~135,000 in Q4 (+70% YoY). 2025 milestones: FDA approval for DRAI algorithms, USD 5.9 m Canadian contract for 2,000+ Kardiobeat.ai devices, partnerships with Wellysis (Samsung), CardioScan (Australia), first VCAST contracts (Sweden, Turkey).
May 1, 2026
News
Medinice 2026: FDA for CoolCryo, CE MDR for PacePress and PLN 8.7 m for AtriClamp - pre-commercial cardiology medtech at a regulatory breakthrough
Warsaw-based Medinice S.A. (KRS 0000443282) - a pre-commercial medtech developing five innovative cardiac-surgery devices (PacePress, CoolCryo, AtriClamp, MiniMax, EP Bioptom) - secured FDA certification for CoolCryo and CE MDR for PacePress in 2025, plus PLN 8.7 m of EU funding for AtriClamp. Q1 2025: parent revenue PLN 56 k, net loss PLN -1.0 m (vs PLN -1.2 m), equity PLN 38.4 m. PacePress: clinical trial closed early with a positive result, commercialisation targeted for 2025. CoolCryo: 510K filed in Q2 2025, 14 patients in the European trial.
May 1, 2026
News
Mennica Polska 2026: Q1 revenue +80% YoY (PLN 726.7 m), 838 kg of investment gold (+38%), Bulwary Praskie 95% sold, PLN 1.5 per share dividend
Warsaw-based Mennica Polska S.A. (KRS 0000019196), the only Polish producer of investment-gold bars with three independent business legs (minting, the City Card transit ticket, and the Bulwary Praskie real-estate developer), posted Q1 2026 revenue of PLN 726.7 m (+80% YoY vs PLN 402.9 m) and EBITDA of PLN 56.4 m (+28%). Investment-gold sales: 838 kg (+38% by weight YoY). 2025 closed with EBITDA of around PLN 160 m (+29%) and net profit of around PLN 500 m (a significant part from the developer segment). Bulwary Praskie: 747 apartments with occupancy permits, 95% sold or reserved. Recommended dividend: PLN 1.5 per share (PLN 76.5 m).
May 1, 2026
Explainer
Mercator Medical in 2026: a Kraków-based medical-glove producer with plants in Thailand, an mWIG40 issuer after the COVID meme-stock cycle
Mercator Medical S.A. (KRS 0000036244), headquartered at ul. Modrzejewskiej 30 in Kraków, is a Polish producer and distributor of single-use medical gloves (nitrile and latex) and other disposables. The company controls the full value chain: plants in Thailand (Mercator Medical Thailand) plus Polish and international distribution. In 2020 the share price exploded on pandemic demand (from PLN 10 to over PLN 800), followed by cautious normalisation. Listed on the WSE since 2013. A three-member management board, a five-member supervisory board.
May 1, 2026
News
MLP Group 2026: net profit PLN 459 m (+23% YoY), a record 370,941 sqm leased, EBIT PLN 702 m and the first dividend policy since 2019 announced for 2026
Pruszków-based MLP Group S.A. (KRS 0000053299) - a developer and operator of logistics-warehouse parks in Poland, Germany, Austria, Romania and the Netherlands - closed 2025 with net profit of PLN 459.0 m (+23.3% YoY vs PLN 372.2 m) and EBIT of PLN 701.7 m (+29.2%). Rental revenue PLN 238.4 m (+10%), property-management services PLN 182.1 m (+15.5%). 2025 leasing volume: a record 370,941 sqm (new + renewals). EPS PLN 19.13 (+23.3%), equity PLN 3,197 m (+16.4%), assets PLN 6.99 bn. After a seven-year break the company announces a dividend policy in 2026. 2026 target: +20–30% revenue growth, around 250–300 k sqm of new buildings, 60% of capex allocated to Germany.
May 1, 2026
News
Mostostal Zabrze 2026: revenue PLN 1.22 bn (+21% YoY), backlog PLN 1.08 bn, net profit -45% YoY - share-buyback motion out of 2025 profit
Gliwice-based Mostostal Zabrze S.A. (KRS 0000049844) - a contractor of industrial installations, steel structures for metallurgy, waste incinerators and data centres - closed 2025 with revenue of PLN 1.22 bn (+21% YoY vs PLN 1.01 bn) and net profit of PLN 34.3 m (vs PLN 61.8 m, -45%). EBIT PLN 45.5 m (vs PLN 79.8 m, -43%). The operating margin fell due to the Polwax acquisition integration and cost pressure. Backlog at end-February 2026: PLN 1,079.8 m + PLN 353.6 m of offers = PLN 1,433 m in total. On 15 April 2026 the board filed a motion with the AGM to distribute net profit and part of it to a share buyback. Net debt -PLN 176.8 m (cash surplus).
May 1, 2026
