Some Ups, Some Downs for Mints

Three of the main mints have recently published their annual results for 2023. It’s something of a mixed bag, with overall positive results, but not necessarily driven by circulating coins.

Mint of Poland growth, but not in coins

Reporting on 2023, the Mint of Poland Group announced that revenues from sales exceeded PLN 1.2 billion (US$307 million). Operating profit was more than double year-on-year, amounting to PLN 110.6 million. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were PLN 60 million more than the previous year, amounting to PLN 130.6 million.

The increases were due to the company’s non-mint activities – namely electronic payments and real estate. For the minting business, sales fell by 19% to PLN 858.7 million and EBITDA by 20% to PLN 49.7 million.

The production and delivery of circulation and collectors’ coins for the National Bank of Poland earned the Mint PLN 131 million. It produced more than 985 million circulation coins and 150,000 collectors’ items.