Mirbud stock reports 20 percent growth as BDM keeps PLN 13 target

Published on 09/29/2026 at 08:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mirbud stock is tied to a Warsaw sports hall contract worth more than PLN 168 million signed September 25, 2026. First half revenue reached PLN 1.45 billion and backlog PLN 8.89 billion.

Mirbud, PLMRBUD00015, Illustration mit AI erstellt.

Mirbud stock reports 20.00 percent revenue growth in the first half of 2026, while its shares were last at PLN 11.30 on Warsaw S.E. on September 28, 2026, down 0.35 percent from the previous session. The latest business catalyst is a Warsaw sports hall contract worth more than PLN 168 million, signed on September 25, 2026, according to EurobuildCEE.

First half brings higher earnings

According to Sektor Kolejowy on August 31, 2026, Mirbud generated PLN 1.45 billion in first-half 2026 revenue, up 20.00 percent year over year. Sales profit reached PLN 132.00 million, an increase of 50.00 percent, while net profit rose 24.00 percent to PLN 44.00 million.

The margin picture also improved. Construction and assembly services reached a 7.20 percent sales margin in the first half, compared with 6.20 percent a year earlier, while the order backlog stood at PLN 8.89 billion for completion through 2030.

Analyst target stays above market

Bankier reported on September 16, 2026, that DM BDM raised its recommendation from reduce to accumulate in a report first distributed on September 9, 2026. The analyst kept the price target at PLN 13.00, compared with PLN 11.75 when the recommendation was issued.

That target is 15.04 percent above the September 28 reference price of PLN 11.30. BDM also identified the railway business, stronger year-over-year results and lower net debt in the third quarter as potential positive factors, while contract settlement timing remains a risk.

Railway ambitions meet a setback

The growth story is not free of execution risk. MarketScreener reported on September 4, 2026, that a Warsaw court dismissed the Mirbud-Torpol appeal over the Rail Baltica tender. The consortium had submitted the lowest offer at less than PLN 4.50 billion, making the decision a clear counterweight to Mirbud's railway expansion plans.

Mirbud stock remains below yearly high

On September 28, 2026, Mirbud stock was last at PLN 11.30 on Warsaw S.E. at 5:00 p.m. CEST, with a session range of PLN 11.27 to PLN 11.44 and volume of 39,902 shares. Its 52-week range was PLN 9.77 to PLN 15.27, and market capitalization stood at PLN 1.2 billion.