KGHM Polska Miedz

KGHM reported H1 2026 revenue of PLN 12.84bn (+~40%), an almost doubled EBITDA and a tenfold net profit; the operating margin rose to 34% and operating cash flow exceeded PLN 2.5bn. Earnings per share were PLN 10.25, well below the forecast of 11.61, after which the stock fell about 4% in pre‑market trading. Debt fell despite high investments, the company has already achieved PLN 300m in cost savings and plans extensive investments, including a fourth Sierra‑Gorda line and modernizations in Poland. Management emphasizes solid operational progress, continued dividend intent and risks from commodity prices, production issues at Robinson and high capex needs. » More on de.investing.com

KGHM reported an adjusted operating result of 3.73 billion Złoty in the second quarter, beating analysts' expectations of 3.54 billion Złoty. Net profit jumped to 2.05 billion Złoty versus 250 million Złoty a year earlier. Drivers were higher copper prices on the LME (13,329 USD/tonne vs. 9,524 USD/tonne) and a 5.6% increase in domestic electrolytic copper volumes, while foreign production fell 37% to 9,300 tonnes. » More on de.investing.com

KGHM will, as part of a new strategy, examine acquisition opportunities outside Europe, namely in Morocco, Argentina, Canada and the US, CEO Remigiusz Paszkiewicz said. The goal is to diversify raw materials, gain access to critical metals and secure new revenue sources to strengthen resilience against copper and silver price swings. KGHM also plans to expand the global footprint of DMC Mining Services and advance projects such as Victoria, Ajax and Sierra Gorda Oxides; foreign operations contributed about 48% to core profit in 2025. » More on de.investing.com