Communiqués

From IPO to Records: 15 Years of GPW on GPW

Over the fifteen years of its presence on the Warsaw Stock Exchange, GPW has established its position as one of the key financial institutions in the region. Since its IPO in 2010, GPW has more than doubled its revenue and profit, expanded its operations to include the Commodity Market, and increased the equity turnover value by 80%. During this period, shareholders received a total of PLN 1.4 billion in dividends, and the total rate of return including reinvestment of dividends in GPW shares reached an impressive 221%.

On 9 November 2010, the Warsaw Stock Exchange was newly listed on its own trading floor, opening a new chapter in the history of the Polish capital market. Since then, GPW has gone through various stages of development, from a period of challenges to years of dynamic rebuilding of its position and growing interest in the capital market.

In the year of its IPO, GPW’s consolidated revenue amounted to PLN 225.6 million and its net profit to PLN 94.8 million. Today, fifteen years later, revenue for the last four quarters (ended 30 June 2025) amounts to PLN 502.2 million, which represents an increase of 123%, while net profit has doubled to PLN 189.6 million. This is the result of the development of the Financial Market segment, where revenue grew by 47%, and the addition of new business lines, including in particular the acquisition of Towarowa Giełda Energii. The Commodity Market segment generated over PLN 160 million in revenue over the last four quarters.

Investor activity has increased significantly in recent years. The total equity turnover value on the Warsaw Stock Exchange increased from PLN 234.3 billion in 2010 to PLN 464.8 billion for the twelve months ended in October 2025.

GPW consistently pursues a policy of sharing profits with shareholders and has paid dividends every year since its IPO. GPW has paid a total of PLN 1.486 billion in dividends to investors since the IPO, which represents PLN 35.41 per share. Stability and predictability of dividend payments make GPW one of the most attractive dividend-paying companies on the market.

Investors who trusted GPW at the time of its IPO have found their investment to be exceptionally profitable. With an IPO price of PLN 43, the total rate of return including dividends paid has reached 121.1%, and including dividends reinvested in GPW shares, as much as 221%.

The last 18 months have brought a strong positive change for the company and for the entire capital market. This is evident not only given the record-high price of GPW shares, which has reached PLN 62.9 ATH (all-time high), but also in view of the growing interest of investors and the historic performance of the WIG index, which crossed the mark of 114,000 points in October. This confirms that the Polish capital market is at a stage of recovery and development, and GPW remains its heart, where capital meets investors and issuers. In accordance with the New Strategy Directions published in November 2024, GPW will focus on actions aimed at developing the domestic capital market and further building value for shareholders and stakeholders.