More Coins on Horizon for Polish Mint

The Mint of Poland (Mennica Polska), which trades on the Warsaw Stock Exchange as the only publicly-listed mint, has three distinct business segments – minting, electronic payments and real estate development.

Revenues for 2022 were just over PLN 1.28 billion (€273.5 million) compared with PLN 1.3 billion (€268 million) in 2021. Operating profit fell by 41% to PLN 51.8 million and pre-tax profit by 66.5% to PLN 37.8 million. Net profit for 2022 was PLN 32.4 million.

Revenue from the Mint Products segment increased by 6.3% to just over PLN 1 billion. The segment’s financial performance of PLN 57 million was 1.31% above that in 2021. Last year, sales accounted for 82.7% of total Mint revenues, compared with 74.7% in 2021.

The Mint’s key account is the National Bank of Poland (NBP), for whom it produced 438.6 million circulating coins in 2022, along with 5 zloty commemorative coins from the ‘Discover Poland’ series, with a value of PLN 80 million. The volume was lower than in 2021, but interestingly says, the Mint, the NBP increased its purchase order by almost 37 million coins in the last two months of the year. The value of its annual order for general circulation coins for 2023 is in excess of PLN 138 million.

In the international market, it secured contracts to supply circulating and commemorative coins to central banks in South America and Asia, including those of Colombia, Dominican Republic, Georgia, Guatemala, Nepal and Thailand.