Key Highlights
- Shares of Allegro climbed as high as 5.3% following the company’s decision to raise its 2026 group GMV growth forecast to 13%-15%
- Second-quarter consolidated GMV growth reached 14.4%, while Adjusted EBITDA increased 11.5% compared to the prior year
- The company’s international operations in Czechia, Slovakia, and Hungary recorded 85% GMV growth year-over-year in Q2
- During the initial 10 weeks of Q3, international GMV growth surged to approximately 100% year-over-year
- Poland’s performance is already surpassing the upper range of earlier projections, with year-to-date group GMV growth approaching 15%
Allegro (ALEP) shares surged as much as 5.3% during Thursday’s trading session before moderating to approximately 3.7% gains after the Polish e-commerce giant announced an upward revision to its full-year 2026 projections.
Management now anticipates group GMV growth ranging from 13%-15% alongside Adjusted EBITDA growth of 13%-17% for the complete fiscal year.
Finalized Q2 figures demonstrated consolidated GMV expansion of 14.4% with Adjusted EBITDA climbing 11.5% year-over-year. Both metrics exceeded the company’s previous guidance ranges.
Within Poland specifically, revenues increased 14.4% while Adjusted EBITDA grew 11.3% compared to the same period last year. This expansion was fueled by logistics operations, financial services offerings, advertising revenue, and strategic pricing initiatives.
Polish GMV growth registered 12% year-over-year during Q2, representing more than triple the rate of the nation’s nominal retail sales growth.
Foreign Markets Gaining Traction
Allegro elevated its full-year Polish market guidance to GMV growth of 11%-13% and Adjusted EBITDA growth of 11%-14%, representing an increase from its prior estimates of 9%-11% and 7%-10% respectively.
Throughout its trio of international territories, GMV surged 85% year-over-year during the second quarter. Management attributed this performance to enhanced customer satisfaction metrics and stronger marketplace engagement.
These foreign markets now capture more than 25% of e-commerce shoppers and feature upwards of 40 million active product listings, with 90% offering prices below competitive alternatives.
In Czechia, the company’s most significant international market, product offerings from domestic partners increased nearly one-third year-over-year in Q2.
The opening 10 weeks of Q3 witnessed international GMV growth accelerating to roughly 100% year-over-year, elevating year-to-date group GMV growth to approximately 15%.
Chief Executive Marcin Kusmierz stated the organization’s “engine is running on all cylinders in Q3,” highlighting accelerated Polish GMV performance and international marketplaces that are doubling annually.
Service Offerings and Distribution Network Growing
Allegro Pay represented 16.4% of second-quarter GMV, while loan origination volume climbed 35% year-over-year to reach 4.5 billion zlotys.
Allegro Smart! membership exceeded 9 million users. The Allegro Delivery network now encompasses more than 40,000 parcel lockers and nearly 35,000 collection points, including over 11,000 Allegro One Boxes.
The platform recently established a Shenzhen office to forge direct relationships with regional merchants and maintain platform compliance standards in China.
Allegro targets concluding 2026 with international GMV approximately 2 billion zlotys higher than 2025 levels, anticipating international operations will reach break-even status in 2029.
Discussions to extend the company’s partnership with parcel locker provider InPost through 2031 are advancing. The proposed agreement would feature reduced delivery costs, a modified price indexation mechanism, and multi-year volume commitments.
Chief Financial Officer Jon Eastick will transition responsibilities next month to Katarzyna Ostap-Tomann.
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