May 2026
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Largest Metals & Mining Public Companies in Poland
Benchmark revenue and EBITDA valuation multiples for public comps like
KGHM, Grupa Kety, JSW S.A., Mennica Polska and Cognor Holding.
 | KGHM Polska Miedz SA engages in copper ore mining and copper production predominantly in South-Western Poland. The company also produces precious metals such as silver, which is typically used for coins, jewelry, photography products, and industrial purposes. The bulk of group revenue is generated through copper sales, and the remainder is through sales of silver, while a minor portion is generated through the production of gold, salt, and casting of light metals. The materials are sold domestically, and exported to Germany, China, the U.S., the United Kingdom, and the Czech Republic, among many other European nations. | $88 | +164% | $18B | $19B | 1.9x | 6.9x | ||
| Grupa Kety SA manufactures and sells extruded aluminum and other aluminum products primarily to industrial customers. The firm organizes itself into five segments based on product. The Extruded Products segment manufactures aluminum profiles. The Flexible Packaging segment produces and sells packaging to the food industry. The Aluminum Systems segment, which generates the most revenue of any segment, sells aluminum systems to the building industry. The Building Accessories and Building Services segments produce and sell hardware and aluminum facades to the construction industry. The vast majority of Grupa Kety’s revenue comes from Poland, where the company’s operations are also located. | $314 | +34% | $3B | $3B | 2.3x | 12.2x | ||
| Jastrzebska Spolka Weglowa SA is a coal producer based in Poland and one of the European Union's producers. The company predominantly produces hard coking coal which is an essential component in the production of steel, and in its coking plants, the company processes approximately half of the coking coal it produces. Additionally, the company is engaged in natural gas mining and generation, transmission and distribution of electricity. The company’s products are sold domestically as well as to Germany, Austria, the Czech Republic, Slovakia, Romania and Hungary. | $7 | +17% | $843M | $1B | 0.5x | (1.5x) | ||
| Mennica Polska SA is a metal processing company in Poland. It is one of the country's leading producers and distributors of mint and engraving/medal products. The activities of the company are focused on four markets, namely mint products, precious metals processing, ICT services and property development. Mennica's core activity is the production of coins in circulation in Poland. Additionally, it also produces badges, medals, and token coins. In its precious metals segment, the company manufactures catalytic gauzes, paints, equipment for glass furnaces, rolled and drawn precious metal products. The Electronic payment segment deals with the operation of card systems, the sale of public transport tickets and other payment systems. | $12 | +68% | $618M | $648M | 1.3x | 4.1x | ||
| Cognor Holding SA operates in the steel industry. Along with its subsidiaries, the company is engaged in the business of scrap collection, scrap processing into steel billets, and steel products. Its product portfolio comprises metal bars, steel scrap, steel slabs, flat plates, round bars, and steel alloys, among others. The group operates in the following business segments: Zlomrex Metal (ZLMET), HSJ, Ferrostal (FER), OMS, JAP, and Others. The majority of its revenue is generated from the Ferrostal (FER) segment, which is involved in the production and sale of semi-finished steel products (raw steel) and final steel products to external customers. Geographically, the group generates maximum revenue from Poland, followed by Germany, Czechia, and other countries. | $2 | -24% | $358M | $601M | 1.0x | (62.5x) | ||
| Stalprodukt SA is a Poland-based company that is primarily engaged in manufacturing and marketing of steel products. The company operates through three segments. Its electrical sheets segment manufactures electrical sheets, strips, and toroidal cores. Its profiles segment produces cold formed profiles, road safety barriers and others. Its zinc segment manufactures zinc and zinc alloys, lead, flotation galena, and others. The company owns a proprietary distribution network of metallurgical products, which consists of wholesale warehouses and offices in several cities in the territory of Poland. The company sells its products both in the home market and abroad. | $68 | -1% | $346M | $131M | 0.1x | 3.2x | ||
| Mangata Holding SA manufactures industrial fittings. The company operates in four operational segments - Components for the automotive industry, Fittings and industrial automation, fasteners, and Other non-production activity. The company caters to the following industries: automotive, mining, construction, heating and heating, ventilation and air conditioning, water supply and sewage, shipbuilding, gas and energy, aviation industry, and machine industry. | $19 | -13% | $124M | $165M | 0.8x | 5.7x | ||
| Odlewnie Polskie SA is involved in producing and selling castings in Poland. It offers castings made of grey cast iron, nodular cast iron, ADI cast iron, SiMo cast iron, and steel cast materials for use in the machine, automotive, heavy rail, energy, and appliance industries, as well as in industrial instruments, and plumbing and sewage systems. | $5 | +111% | $105M | $100M | 1.6x | 13.0x | ||
| MFO SA is a producer of special steel profiles, reinforcements for PVC window joinery and drywall framing steel profiles. The company's products are used in PVC windows, furniture industry, roller shutters, drywall framing profiles, installations, electrical installations, semi-trailers and truck bodies, rack systems, technical flooring systems, fencing systems and gates, ventilation and air conditioning, scaffolds and photovoltaic systems. | $9 | -11% | $61M | $80M | 0.4x | 10.3x | ||
| Bowim SA offers carbon steel products made by Polish and foreign manufacturers. The company is engaged in the production of reinforcement prefabricated units and guides for the construction industry. It also provides cross-cutting, longitudinal cold-rolled, galvanized, and services installation of reinforcing steel for the building of infrastructure, industry, and housing, and a fleet of modern trucks for delivery purposes. | $2 | +72% | $37M | $35M | 0.1x | 11.3x | ||
| ZBM ZREMB-Chojnice SA is a producer of steel constructions and containers. The company produces containers for shipping and drilling platforms; basket containers for transportation of equipment to drilling platforms, Mini-Mud freight containers for transportation of equipment and food to drilling platform, Borekaks containers for the transportation of waste material, Specialist containers for machine shops, compression shops, generators, Containers and platforms for the Army, Containers for radioactive waste and Steel roof constructions and frames for glazed facades. Its products include reinforced ceiling military containers, field containers, 3IN1 and 2IN1 container, off-shore container, baskets, and mudskips. | $3 | +26% | $36M | $38M | 3.4x | 8.9x | ||
| Izostal SA is a Poland-based company involved in the steel industry. It is engaged in the manufacturing and distribution of steel pipes, metallurgical products, and steel fixtures. It offers external anticorrosive coatings for steel pipes used mainly for constructing transmission pipelines. | $1 | +21% | $28M | $66M | 0.2x | 5.6x | ||
| Zamet SA is a Polish company, manufacturers of large-size steel structures and machinery and equipment for the industry. The company is engaged in the implementation of projects such as heavy steel elements for the oil industry, lifting and loading equipment and steel structure for the mining industry. | $0 | +1% | $24M | ($4M) | (0.2x) | (0.9x) | ||
| PGF Polska Grupa Fotowoltaiczna Spolka Akcyjna, formerly Zastal SA is engaged in the manufacture and sale of rolling stock and steel structures. The company manufactures steel structures of industrial halls, buildings, churches, bridges, and railway stations, as well as constructs railway wagons and cars. It also operates in USSR, Iraq, Syria, and China. | $0 | -7% | $17M | $16M | 1.0x | (1.3x) | ||
| Fabryki Sprzetu I Narzedzi Gorniczych Grupa Kapitalowa Fasing SA is involved in producing and selling chains for the mining, fishery, power, sugar, cement, timber, and other sectors world-wide. The company offers round and flat link mining chains, chain assemblies, connecting links, wear resistant round link chains, lifting chains, chains for hoists, general purpose chains, and accessories, as well as flight bars, clamps, and locks. | $4 | +34% | $13M | $34M | 0.4x | 4.0x | ||
| EKOPOL Gornoslaski Holding SA is a developing production-trade-service company. The company is engaged in the sale of steel-mine products and steel-mine products of other producers, trapeze-shaped, galvanized and coated sheets, tile sheets, among others. | $2 | +31% | $5M | $3M | 0.0x | 3.6x | ||
| Galvo SA offers services to the metal industry. The company provides alkaline and acid zinc plating, anticorrosive phosphating coating, copper plating, decorative & technical tin plating and decorative chromium plating. | $1 | +101% | $3M | $3M | 0.5x | 10.8x | ||
| VISTAL Gdynia SA is a leading manufacturer of steel structures for the construction, energy, shipbuilding and offshore industries. Geographically, the company operates in Poland and abroad. The business area of ​​activity of the company is prefabrication, assembly, anti-corrosion works, testing of bridge, shipbuilding, wind energy and Offshore facilities. | $0 | -- | $3M | $7M | — | — | ||
| Median | $3 | +26% | $49M | $73M | 0.5x | 5.6x |
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