Allegro boosts margins and grows twice as fast as Polish retail sales in Q2

18.09.2025

Allegro's Q2 saw Polish revenue accelerate to 18.1% and GMV to 9.8% YoY. Full-year revenue and Adjusted EBITDA expectations are moving up

Polish Adjusted EBITDA tripled its Q1 growth rate, improving margins and cutting leverage

Allegro added 840,000 active buyers YoY to overall reach 21.1 million. Their average annual spend rose across the region, hitting PLN 4,200 in Poland

International marketplaces grew GMV and active buyers by ~60%, while their revenue doubled YoY

Poland Update: Allegro remains the go-to place for convenient online shopping, with Polish GMV (gross merchandise value) accelerating annual growth to almost 10%. Supermarket and Health & Beauty categories together with sales of high-frequency items grew twice as fast, driving an 11.4% YoY overall rise in items sold on Allegro. Revenue nearly doubled GMV’s growth pace, boosted by advertising and March co-financing changes, which propelled Adjusted EBITDA’s YoY rise to 14.2% while simplifying the fee structure for merchants. Brands continue to launch official distribution and set up their own shop-in-shops on Allegro thanks to its unique value proposition, as the platform’s flywheel effect conveniently connects thousands of merchants with millions of buyers.

Active buyers hit 15.2 million in Poland and their average spend grew by 8% YoY, as Allegro services complement each other, improving customer loyalty and engagement. Over 6 million Allegro Smart! subscribers spend 4.5x more than non-users, while Allegro Pay financed 15.3% of Allegro’s Polish GMV. All Allegro initiatives are set to be AI-enhanced, with Allegro already converting tech know-how to GMV via a range of AI-based models and tools that boost the shopping experience.

Allegro Delivery now offers customers an unmatched network of around 33,000 parcel machines and around 37,000 other pick-up points across Poland, including One Boxes, Orlen Paczka, DHL, and the recently announced DPD, which is currently being onboarded. The programme manages 34% of Allegro deliveries and counting, with Allegro One planning to hit 8,000 One Boxes this year — 1,000 more than originally planned. Clients love it and award it with consistently high NPS (net promoter score), as Allegro Delivery only widens delivery choices for Polish consumers, who can conveniently manage multiple logistics options in a single Allegro app.

International Update: New marketplaces grew GMV by 61% YoY and doubled their revenue. Merchants welcome the cross-border selling opportunity, as well as special programs aimed at boosting their presence and performance, while consumers continue to grow their engagement on Allegro. Active buyers on Allegro's new marketplaces in Czechia, Slovakia, and Hungary reached 3.9 million, with Smart! users exceeding 1 million — both up by around 60% annually. App share in total GMV grew to over 45% and the value of GMV generated via the app doubled YoY. Allegro stays focused on its new marketplaces in Czechia, Slovakia, and Hungary, while operations in Slovenia and Croatia remain independent businesses for now.

Our journey is about more than e-commerce; it's about becoming an indispensable part of our customers' daily lives. We want to enrich our portfolio of services and introduce innovative new products to make sure Allegro continues as a universal platform that is a go-to destination and one-stop shop for households and businesses alike. Poland’s e-commerce landscape is growing ever more competitive, but we aim to lead it with a renewed focus on customer needs. We are building a truly universal brand focused on widening its reach and boosting client engagement, both in our core market and across our international footprint. The future of retail is being redefined by technology, and we want to be at the forefront of this evolution. AI is among the engines of our next phase of growth, with investments here meant to boost personalisation and inspire customers. Allegro’s leadership in this transformation will unlock new opportunities across our entire value chain, which already generates 1% of GDP in Poland. We want to accelerate growth in Poland and beyond by further enhancing our efficiency, developing new product and service categories, and fostering strategic partnerships. All this with buyers and merchants at the centre of our attention. We connect millions of international consumers with thousands of businesses across the region as the largest marketplace founded in Europe. Second-quarter results confirm that we know how to do it efficiently and effectively, forming a great foundation for our plans. We are just getting started.”

Marcin Kuśmierz, Allegro CEO

Financial Update:

Allegro had an excellent second quarter, with GMV growth accelerating sequentially to 9.8% YoY in Poland, while our international marketplaces posted an impressive 61% growth rate YoY. As expected, March co-financing adjustments lifted Polish revenue growth to 18.1% YoY, boosting Adjusted EBITDA by 14.2% YoY. Operationally, we made great progress, with Allegro-managed deliveries up another 4.6pp to 34% of Polish parcels shipped and completing the transformation of the MALL legacy business in Czechia, Slovakia, and Hungary into a lean merchant selling solely on Allegro. Financially, Allegro went from strength to strength, with Polish margin rising 0.24pp to 6.27% and leverage dropping 0.32pp to 0.72x Adjusted EBITDA. This allowed us to narrow our 2025 outlook ranges and move our revenue and Adjusted EBITDA expectations up for both Poland and the group. Investors greeted our first-ever bond issue worth PLN 1 billion with a 2.7x oversubscription, and we bought back 3.68% of stock, returning PLN 1.4 billion of capital to our investors. All of this strengthens our financial flexibility for the coming years.”

Jon Eastick, Allegro CFO

Further information and data to be found here.

About Allegro

Founded in Poland 25 years ago, Allegro now operates a leading online marketplace across Central and Eastern Europe. Based in Luxembourg and listed on the Warsaw Stock Exchange after the largest IPO in the bourse's history, Allegro solidifies its position as the largest online marketplace of European origin. The platform connects millions of buyers from across Eastern and Central Europe as well as the EU with thousands of international merchants who provide millions of products. Allegro has already established itself as the go-to marketplace for consumers in Poland and the flywheel of the Polish economy, helping to generate around 1% of the country’s gross domestic product (GDP) and its total workforce. It wants to echo the positive impact in every country where it operates, aiming to become the most loved online shopping destination in Europe.