This is how you earn on the production of drones. The profits of the Polish company fired into space
The war in Ukraine and earlier in the upper Karabakh changed the view of global strategists regarding the way combat operations. Drones are now the basis in a modern army. They give a diagnosis that allows you to make precise artillery fire, and at the same time are a weapon that eliminates from the battlefield, among others Tanks. Russia lost as many as 4,000 tanks within more than three years of your aggression.
Drone is not produced by the Polish state industry, but we have a private company that saints in this field of triumph. Especially last year. The revenues then amounted to as much as PLN 3 billion, and the net profit PLN 623 million. It is 107 percent respectively. IO 166 percent more than in the previous year.
The company paid to the state budget last year. As much as PLN 314 million of various types of taxes, i.e. twice as much year on year, counting together with taxes from employees, and without VAT.
Almost WIG20
If you place WB Electronics on the map of domestic business in terms of profits, it would have 21. Position among domestic companies listed on the stock exchange. If her actions were noted, she would knock on the threshold of the elite WIG20 club. Profits are already comparable to the digital Polsat controlled by Zygmunt Solorz (last year profit PLN 710 million) and there are many indications that this year they will be higher (on a scale of 12 months ending in June this year, Cyfrowy Polsat earned just over PLN 610 million).
Flytronic subsidy producing drones Even in 2022, it had PLN 63 million in turnover to increase revenues to PLN 217 million a year later, in 2024 it was already PLN 605 million and it gives the highest dynamics to the WBE group. Her net profit last year It increased by as much as 284 percent. up to PLN 147 million. Flytronic produces unmanned reconnaissance Flyeye and FT-5 as well as combat Warmate and Gladius.
A significant source of WB Electronics group revenues are also fire management systems and radio stations through in 2011 (then bought 46 percent of shares, 100 % shares have been from 2015) Radmor. The company “also builds competences” in energy storage technologies – as stated in the annual report.
Polish export force
In 2023, almost half (49.5 percent) of the WB group revenues came from exports, and last year only 35 percent. This does not mean that export has dropped, quite the opposite. Simply, revenues obtained in Poland grew much faster than exports. The value of exports increased from over PLN 700 million in 2023. up to PLN 1,5 million, i.e. by 46 percent Last year.
“The escalation of the armed conflict in Ukraine meant that the WB Group's actions have focused very strongly on the markets of Central and Eastern Europe. As our possibilities, we support the Armed Forces of the Republic of Poland and Poland's allies”-we read in a commentary to the financial statements.
WB Electronics has, among others A subsidiary in Ukraine employing 56 people, half of which in managerial positions. Group branches are also in Slovakia, the Czech Republic and South Korea. It was founded for “coordination and development of cooperation between WB Group companies and the enterprises of the Ukrainian defense industry” – said in the report. The company also provides the service of products used by recipients on the Ukrainian market.
Polish army with Polish drones
However, while foreign sales revenues increased by 46 percent, it The ones obtained in Poland fired up to 166 percent. rdr. It is the Polish army that is currently the main recipient of WB Electronics products.
As reported in the financial statements, in April last year An executive agreement was signed between the WB Electronics group and the State Treasury-State Treasury-Treasury-the weapon agency for the armed forces of the Republic of Poland Flyeye 3.6 miniature sets together with the repair, logistics and training package. The contract is carried out in 2024-2025. The value of the contract is about PLN 58 million.
She concluded even larger contracts for servicing another weapon for the PGZ State Defense Company. In April this year. The Company was accepted by the order placed by Huta Stalowa Wola (PGZ subsidiary), on the basis of which the WBE Group undertook to deliver ICT systems together with software and accompanying services for vehicles included in vehicles South Korean cannabis K9. The contract will be carried out in 2026-2028 and the company's remuneration will be over PLN 650 million gross. This is one fifth of the last year's WBE group revenues.
On PLN 740 million The contract of July last year is amused Also with the PGZ group for weapons for weapons and the name of Rosomak combat vehicles is mentioned in this context. At PLN 113 million, it was still valued in the contract of May last year. Delivery and implementation of ICT and communication systems.
The state present in a private company
In 2018, the investment in WB Electronics was made by the Polish Investment Fund of Polish Enterprises, which is currently called PFR PFR Investment Fund Closed Non -Public Asset. It currently has over 26 percent action.
After increasing the company's profits, it can be seen that it was a great decision, although of course at the time of its making, it was difficult to predict that a regular war would be fought directly behind our limit, and the profits of weapons producing companies, including WB Electronics, will shoot.
The company's main shareholders are private persons: Piotr Wojciechowski (45.5 percent of shares) and Adam Bartosiewicz (28.1 percent) and from the first letters their names the name of the company was created. Last year, they received the majority of the 60-million dividend tax paid by the dividend tax on this dividend PLN 11 million.
Three engineers gave the beginning
The creation of WB Electronics is the engineers: Piotr Wojciechowski, Adam Bartosiewicz and Krzysztof Wysocki, who formed the company in 1997. At the beginning the company employed several employees. The impulse to accelerate development came in 1998, when the Ministry of National Defense wanted to buy a fire -control system for artillery. Of the dozen or so manufacturers invited to the tender, only WB Electronics undertook to prepare the system. Two years later, an automated command system of commanding and directing the Topaz self -propelled howitzers was implemented into the Polish Army. Contracts from the army fell apart.
“Topaz is constantly being developed and still has no competition in the Armed Forces of the Republic of Poland,” describes the company. This success has set her direction of development. She focused on her own products to compete with the offer of international concerns. The product that brought an international recognition is the Fonet internal communication system developed in 2001, among others in Polish rosomaks.
Combat vehicles equipped with this system can work in automated command systems or fire management. Fonet systems were purchased by the Swedish, Slovak, Hungarian and American corporation of Harris, whose client and user of the Fonet is the US Army.
Currently, the WB Electronics group employs 1.8 thousand. people, of which the main part is engineers. According to our calculations, the average salary in the WBE group with the employment contract is about 13.6 thousand. PLN gross per month, i.e. by 64 percent More than the national average in the enterprise sector (PLN 8.3 thousand in 2024). The group operates on dozens of markets, including the USA, South America, North Africa, India, Vietnam and Malaysia.
Author: Jacek Frączyk, Business Insider Polska editor
