SPÓŁKA AKCYJNA
Lubawa
Lubawa Spółka Akcyjna
SPÓŁKA AKCYJNA
Listed on the Warsaw Stock ExchangeLubawa Spółka Akcyjna
Lubawa Spółka Akcyjna (KRS 0000065741, NIP 7440004276) is a Polish company, headquartered in Ostrów Wielkopolski, Wielkopolskie voivodeship. LUBAWA operates in: Other manufacturing n.e.c. (PKD 32.99.Z). Industry: Other manufacturing. The company has been listed in the National Court Register since December 5, 2001. LUBAWA's most recently reported net revenue was 616.7 M PLN for 2025.
Market capitalisation
2.02B PLN
Ranked #54 among the largest Polish companies in WIG-POLAND.
No arrears identified in the analyzed sources
No arrears or bankruptcy proceedings identified in the analyzed sources.
Main activity
32.99.ZOther manufacturing n.e.c.
Other activities
Selected excerpts from our analysis of Lubawa. Full analysis on the Analysis tab.
Lubawa S.A. (WSE: LBW; ISIN: PLLUBAW00013) is a Polish producer of protective, military and safety equipment. A beneficiary of Poland's defence-spending surge (4% of GDP target) and EU rearmament.
Read the full company profile LubawaLubawa is a contract manufacturer of defence and safety equipment for governments, armies and public services.
Explore the business model LubawaFinancial performance of Lubawa: multi-year analysis of revenue, EBITDA, net profit, segment mix and key ratios.
See full financial performance LubawaBeneficiary of Poland's 4% GDP defence target - the largest programme in NATO history. EU rearmament - export demand rising. Ukraine war - structural demand boost. Largest Polish defence-textile producer. Vertical integration - fabric to finished product. NATO + MoD…
Credibility rating
75 / 100
Good credibility
Insolvency risk
Very low
Low threat
Closure risk
1
/ 100
Risk comparison - scale 0 (safe) → 100 (critical)
Spółka wykazuje sygnały niestabilności organizacyjnej: częste zmiany w zarządzie. Może to wskazywać na podwyższone ryzyko współpracy.
Shareholder changes
0
0/24 yrs
Board changes
15
15/24 yrs
PKD changes
8
8/24 yrs
Name changes
1
1/24 yrs
Data from 24 years of registry activity.
Payment reliability score from 2003–2025
Current: B (75/100)
Trend: stable (+0.6 pts/year)
High payment credibility - the company's financial condition is good and the risk of cooperating with it is low.
Standard limit from 2003–2025
Current: 84.8 M PLN
Safe: 55.1 M PLN
Difference between risk models
Closure - probability of ceasing operations (operational continuity). Insolvency - probability of formal bankruptcy / restructuring. The models use different data - results can diverge significantly when balance-sheet data is incomplete.
Listed on the Warsaw Stock Exchange
LBWISIN: PLLUBAW00013Główny Rynek
Ranked #54 in WIG-Poland
Founded
December 5, 2001
24 years in operation
Legal form
SPÓŁKA AKCYJNA
Registry: RejP
Headquarters
OSTRÓW WIELKOPOLSKI
WIELKOPOLSKIE
Primary PKD
32.99.Z
Other manufacturing n.e.c.
Share capital
30.1 M PLN
Shareholders
N/A
Board
2 people
Sup. board: 5 · Proxies: 1
Filed years
20 years
2003–2025 · profitable: 19/20
Registry entries
131
latest: October 27, 2025
Revenue
616.7 M PLN
2025
Net profit
126.3 M PLN
2025
Assets
798.5 M PLN
2025
Equity
588.0 M PLN
2025
EBITDA
163.9 M PLN
2025
Listing data for Lubawa on the Warsaw Stock Exchange (GPW) - share price, session change, market segment, industry sector, ISIN code and stock-index membership.
Quotes, shareholders, announcements
LBW
ISIN: PLLUBAW00013
Global Legal Entity Identifier (LEI) for Lubawa from the GLEIF database - code, status, BIC, registered address and registration details.
LEI code
259400UKCY6KD89PTF94
Legal name
"LUBAWA" SPÓŁKA AKCYJNA
Registry number
0000065741
Jurisdiction
PL
Registered address
Ostrów Wielkopolski Staroprzygodzka 11763-400 Ostrów WielkopolskiPLHeadquarters
Same as registered address.
Rate business credibility - Lubawa.
Consumer brand owned by this company.
Umbrella brand
Producent tkanin powlekanych i wyrobów technicznych — odzież ochronna i produkty z zakresu ochrony indywidualnej (m.in. zestaw S.E.R.E.).
Visit website
News
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).
Explainer
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.
MoD concentration - political-change risk. Political defence cycle - government changes = procurement priority shifts. Margin decline Q1-Q3 2025 (-3.2 pp) - cost inflation. No dividend - disappointed income investors. Thin free float - Silver Hexarion 62% control. Foreign…
Explore the weaknesses LubawaPolish 4% GDP defence - continuation through 2027+. NATO 5% GDP target - possible under US pressure. EU rearmament - ReArm Europe EUR 800 bn. Ukraine support - direct sales to Ukrainian Army. Competitor acquisitions - Lubawa as consolidator. US exports - Marines, US Army. New…
Explore the opportunities LubawaUkraine war ending - military-equipment demand drop. Polish government change - defence-priority shift. NATO 5% GDP not implemented - high expectations. Margin decline - cost inflation continuation. Safariland, Mehler competition - global competition. No dividend -…
Explore the key risks LubawaWB Group - drones, electronics. HSW (Huta Stalowa Wola) - artillery. Pesa - rail + military vehicles. PGZ (Polish Armament Group) - state holding. MesKo, Belma - ammunition. Lubawa - protective textiles (largest).
See the competitive analysis LubawaContinued growth from Polish defence contracts. EU rearmament - export growth. 2026 AGM (June) - FY 2025 dividend decision.
Explore the outlook LubawaPartnership strategy with MoD and PGZ. Capacity expansion in Ostrów Wielkopolski. Equipment modernisation.
Explore the strategy LubawaNo regular dividend. Lubawa is a growth company focused on reinvestment.
See the dividend policy LubawaStanisław Litwin - President of the Management Board (CEO), founder. Full Board composition to be confirmed from the annual report.
Explore corporate governance LubawaGLEIF data, retrieved 2026-05-10.
View 259400UKCY6KD89PTF94 on GLEIFCompany Lubawa has only one trademark, which is a trademark "LUBAWA S.A.".
3 most recent trademarks
LUBAWA S.A.
Filing date: 2004-11-26
activeRegistered shareholders of Lubawa, the chain leading to the ultimate owner, and the geographic origin of the capital.
Share capital
30.1 M PLN
Natural persons exercising effective control over LUBAWA and authorised representatives - data from the Polish Central Register of Beneficial Owners (CRBR) maintained by the Ministry of Finance.
LUBAWA is a public company listed on the Warsaw Stock Exchange and is not required to file beneficial-owner information with the CRBR.
Exemption: The obligation does not apply to joint-stock companies that are public companies within the meaning of the Polish Act on Public Offerings.
Why? The risk of concealing the identity of controlling persons in listed companies is considered lower thanks to the transparency of the shareholding structure.
Note: If a company is a joint-stock company but is not public (not listed on a stock exchange), the obligation to file with the CRBR still applies.
Answers to questions about the company's activity, registered office, identifiers, financial data, capital and control.
LUBAWA's board has 2 members.
20 historical registry entries for Lubawa
Board change, Commercial proxy change
PO.IX NS-REJ.KRS/23991/23/437
Filing documents submitted (8 documents)
Change in Section 1 (basic data)
PO.IX NS-REJ.KRS/23991/23/437/ADE
Filing documents submitted (9 documents)
Articles of association amended, Primary PKD code change, Secondary PKD code change
PO.IX NS-REJ.KRS/13367/25/273
Latest reporting year
2025
Available years
22
Filing entries
0
Capital origin
kapitał krajowy
Ownership chain
Share capital
30,054,000.00 PLN
Shares outstanding
150,270,000
| Shareholder | Shares | Capital share | Votes | Vote share |
|---|---|---|---|---|
| Stanisław Litwin * | 76,966,256 | 51.22% | 76,966,256 | 51.22% |
| Other minor shareholders | 73,303,744 | 48.78% | - | - |
* z podmiotami zależnymi
Source: GPW (shareholders with ≥5% of capital or votes). Other minor shareholders are the public float.
Public-procurement proceedings in which Lubawa appears as contractor or contracting authority - total contract value, signing dates, procedures and links to the official notices.
3 most recent proceedings
Znak postępowania 30/2026
Zakup namiotów polowych z wyposażeniem.
Dostawa hełmów kuloodpornych i kamizelek kuloodpornych.
Average annual headcount for Lubawa and its capital group by year - figures disclosed in the issuer's annual reports.
Number of employees hired directly by the company.
As of 2024
298
| Year | Headcount | YoY change |
|---|---|---|
| 2024 | 298 | +32 (+12%) |
| 2023 | 266 | +24 (+9.9%) |
| 2022 | 242 | +28 (+13.1%) |
| 2021 | 214 | -11 (-4.9%) |
| 2020 | 225 | -12 (-5.1%) |
| 2019 | 237 | -11 (-4.4%) |
| 2018 | 248 | -17 (-6.4%) |
| 2017 | 265 | +19 (+7.7%) |
| 2016 | 246 | -1 (-0.4%) |
| 2015 | 247 | +42 (+20.5%) |
| 2014 | 205 | -70 (-25.5%) |
| 2013 | 275 | -25 (-8.3%) |
| 2011 | 300 | -20 (-6.3%) |
| 2010 | 320 | -36 (-10.1%) |
| 2009 | 356 | -52 (-12.7%) |
| 2008 | 408 | +50 (+14%) |
| 2007 | 358 | +123 (+52.3%) |
| 2004 | 235 | +26 (+12.4%) |
| 2003 | 209 | -29 (-12.2%) |
| 2002 | 238 | -33 (-12.2%) |
| 2001 | 271 | -44 (-14%) |
| 2000 | 315 | +47 (+17.5%) |
| 1999 | 268 | -60 (-18.3%) |
| 1998 | 328 | -25 (-7.1%) |
| 1997 | 353 | +11 (+3.2%) |
| 1996 | 342 | +9 (+2.7%) |
| 1995 | 333 | +27 (+8.8%) |
| 1994 | 306 |
Consolidated headcount across the capital group.
As of 2024
1,097
| Year | Headcount | YoY change |
|---|---|---|
| 2024 | 1,097 | +56 (+5.4%) |
| 2023 | 1,041 | +37 (+3.7%) |
| 2022 | 1,004 | -23 (-2.2%) |
| 2021 | 1,027 | +6 (+0.6%) |
| 2020 |
GPW data, retrieved June 4, 2026.
| 1,021 |
| -114 (-10%) |
| 2019 | 1,135 | -12 (-1%) |
| 2018 | 1,147 | +145 (+14.5%) |
| 2017 | 1,002 | +45 (+4.7%) |
| 2016 | 957 | -142 (-12.9%) |
| 2015 | 1,099 | -224 (-16.9%) |
| 2014 | 1,323 | +315 (+31.3%) |
| 2013 | 1,008 | -11 (-1.1%) |
| 2012 | 1,019 | +99 (+10.8%) |
| 2011 | 920 | +600 (+187.5%) |
| 2010 | 320 | +85 (+36.2%) |
| 2004 | 235 | +11 (+4.9%) |
| 2003 | 224 |
Competing companies or those operating in the same market segment as Lubawa (in Ostrów Wielkopolski, industry: Other manufacturing).
PRZYBORKI· Other manufacturing
Revenue 2024: 164.3 M PLN
OSTRÓW WIELKOPOLSKI· Other manufacturing
Revenue 2024: 82.3 M PLN
WĄGROWIEC· Other manufacturing
Revenue 2024: 60.4 M PLN
PIŁA· Other manufacturing
Revenue 2025: 33.4 M PLN
RAWICZ· Other manufacturing
Revenue 2025: 28.9 M PLN
ROSTARZEWO· Other manufacturing
Revenue 2024: 28.6 M PLN
