ZUE S.A.
ZUE S.A. is a Polish joint-stock company (spolka akcyjna) registered in Krakow under National Court Register (KRS) number 0000135388, with tax identification number (NIP) 679-27-40-329 and statistical number (REGON) 356578200. The company’s current legal entity was entered in the register on 30 October 2002, and its registered address is ul. Kazimierza Czapinskiego 3, 30-048 Krakow. According to the KRS, ZUE S.A.’s registry status is active.
ZUE S.A. provides design and general-contracting services for the construction and modernisation of tram and railway infrastructure, including electric traction and power-supply systems, earthworks, drainage, engineering structures and related civil works. The company traces its origins to a business founded in Krakow in June 1991 under the name Zaklad Urzadzen Energoelektronicznych Radiotech, later reorganised into the present joint-stock company in 2002. ZUE S.A. organises its activities into construction, design and commercial segments and undertakes both public and private infrastructure contracts.
ZUE S.A. shares have been listed on the Warsaw Stock Exchange (Gielda Papierow Wartosciowych w Warszawie) Main Market since the company’s stock-market debut on 1 October 2010, trading under the ticker ZUE and ISIN PLZUE0000015.
The company operates principally in Poland, where it carries out tram- and rail-infrastructure projects for municipal and national rail operators, and has extended activity into Romania, with further works reported in Germany from the second half of 2025.
For the 2025 financial year, the ZUE capital group — the consolidated group headed by ZUE S.A., rather than the standalone legal entity — reported consolidated revenue from sales of approximately PLN 945.9 million, down from PLN 1,219.4 million in 2024, alongside consolidated net profit of approximately PLN 11.2 million. At the end of 2025 the group reported an order portfolio (backlog) of approximately PLN 3.6 billion, described by the company as the highest level in its operating history, comprising railway and municipal contracts in Poland together with ongoing works in Romania and Germany.
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Shareholders
Shareholders of ZUE S.A.
ZUE S.A., a Warsaw Stock Exchange-listed issuer, discloses changes in its shareholding structure through statutory notifications of voting-rights thresholds. As of 26 November 2025, Fundacja Rodzinna Rodziny Wieslawa i Barbary Nowak (a Polish family foundation created for the Nowak family) held 14,400,320 shares, representing 62.52% of ZUE S.A.’s share capital and voting rights at the General Meeting. This holding was transferred to the foundation from company founder Wieslaw Nowak, who previously held the stake individually. Other disclosed holders above the notification threshold include a portfolio attributed to PKO BP Bankowy OFE, reported at 7.43% of share capital and votes as of 31 December 2018, and a portfolio attributed to Generali PTE S.A., reported at 6.34% as of 6 February 2023. Because Polish listed issuers disclose only holdings crossing statutory notification thresholds (generally 5% and multiples thereof), this overview reflects major, reportable shareholders as of their respective notification dates and does not represent the complete shareholder base.
Ultimate beneficial ownership
Fundacja Rodzinna Rodziny Wieslawa i Barbary Nowak is disclosed as holding a direct interest of 62.52% of ZUE S.A.’s share capital and voting rights as of 26 November 2025. The foundation is itself a legal entity rather than a natural person, and its own beneficial-ownership structure was not addressed in the sources reviewed; accordingly, no natural-person ultimate beneficial owner is confirmed for this holding in this overview.
Data availability
Shareholder disclosure for ZUE S.A. is major-shareholders-only: Poland’s notification regime for listed issuers captures only holdings crossing statutory thresholds, each reported as of the date of the individual notification rather than a single common reporting date.
Sources
- Bankier.pl, "Akcjonariat – ZUE SA (ZUE)", https://www.bankier.pl/gielda/notowania/akcje/ZUE/akcjonariat, retrieved 2026-09-18
- GPW Main Market company factsheet, https://www.gpw.pl/company-factsheet?isin=PLZUE0000015, retrieved 2026-09-18
Officers
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Directors and officers of ZUE S.A.
ZUE S.A. discloses a Management Board (Zarzad) of six members and a Supervisory Board (Rada Nadzorcza) of five members on its official corporate website. The Management Board is led by Wieslaw Nowak, President of the Management Board and General Director, who founded the underlying business in 1991; the other current members are Jerzy Czeremuga, Marcin Wisniewski, Anna Mroczek, Maciej Nowak and Magdalena Nowak, who also serves as Deputy General Director. The Supervisory Board is chaired by Piotr Korzeniowski, with Barbara Nowak as Vice Chairwoman and Agnieszka Klimas, Irena Piekarska-Konieczna and Maciej Szubra as members. Exact appointment dates, nationalities and countries of residence for individual officers are not published in the sources reviewed. Zavia’s own underlying data holds a partially overlapping set of officer records for this company (including a Chief Accountant and a Financial Director role not listed among current Management Board members on the official site), which reflects normal variation in officer coverage between a company’s own governance disclosures and third-party company-data providers.
Data availability
ZUE S.A.’s official investor-relations pages and KRS filings publish current Management Board and Supervisory Board membership, but nationality and country of residence are not disclosed for individual officers in the sources reviewed. Historical appointment and resignation dates for board members are also not published in the sources reviewed, so this overview is treated as current-only.
Sources
- Grupa ZUE (official company website), "Wladze i historia spolki", https://www.grupazue.pl/o-firmie/zue-s-a/wladze-i-historia-spolki, retrieved 2026-09-18
Registry feed — rows exactly as filed with National Court Register (KRS), including entries the profile above does not cover.
Group Structure
Group structure of ZUE S.A.
ZUE S.A. is the parent (dominant) company of the ZUE capital group and, based on the company’s own published Management Board report on the group’s activities, is not identified as a subsidiary of another corporate group. According to that report, ZUE S.A. holds a 100% interest in Railway Technology International Sp. z o.o. and also holds Railway gft Polska Sp. z o.o. and NTB Systemy Sp. z o.o. (established 16 April 2018, based in Serock) as subsidiaries, together with a 93.6% interest in Przedsiebiorstwo Budownictwa Inzynieryjnego Energopol Sp. z o.o. (P.B.I. Energopol), acquired in 2022. The same report also identifies ZUE Bahnbau GmbH in Germany and ZUE Construct S.R.L. in Romania as further group entities supporting the company’s operations outside Poland. This overview reflects the group structure reported in ZUE S.A.’s most recent published Management Board report on the capital group’s activities, for the 2025 financial year.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Railway Technology International Sp. z o.o. | PL | PL 7010314689 | Direct subsidiary | 100% | Active | 2025-12-31 |
| Railway gft Polska Sp. z o.o. | PL | PL 6772383949 | Direct subsidiary | Ownership percentage not disclosed | Active | 2025-12-31 |
| NTB Systemy Sp. z o.o. | PL | PL 7010821050 | Direct subsidiary | Ownership percentage not disclosed | Active | 2025-12-31 |
| Przedsiebiorstwo Budownictwa Inzynieryjnego Energopol Sp. z o.o. | PL | PL 6770024028 | Direct subsidiary | 93.6% | Active | 2025-12-31 |
Recent structural changes
In 2022, ZUE S.A. acquired a majority (93.6%) interest in Przedsiebiorstwo Budownictwa Inzynieryjnego Energopol Sp. z o.o., expanding the group’s engineering-construction capacity.
Data availability
The group structure reflects entities identified in ZUE S.A.’s own published Management Board report on the capital group’s activities; ownership percentages are disclosed for some but not all subsidiaries, so this overview should be treated as partial rather than exhaustive.
Sources
- Grupa ZUE (official company website), "Capital group", https://www.grupazue.pl/en/about-us/zue-s-a/capital-group, retrieved 2026-09-18
- ZUE S.A. Management Board report on the activities of the ZUE capital group (Sprawozdanie Zarzadu z dzialalnosci Grupy Kapitalowej ZUE), retrieved via bankier.pl/bonnier.pl filings, 2026-09-18
Registry feed — rows exactly as filed with National Court Register (KRS), including entries the profile above does not cover.
ZUE S.A.
Poland
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Frequently Asked Questions
What does ZUE S.A. do?
Design and general-contracting company for tram and railway infrastructure construction, based in Krakow, Poland.
Who owns ZUE S.A.?
Fundacja Rodzinna Rodziny Wieslawa i Barbary Nowak holds 62.52% of shares and votes as of 26 November 2025; other major holders include portfolios attributed to PKO BP Bankowy OFE and Generali PTE S.A.
Who is ZUE S.A.'s UBO (Ultimate Beneficial Owner)?
No natural-person UBO confirmed; controlling shareholder is Fundacja Rodzinna Rodziny Wieslawa i Barbary Nowak, a family foundation, holding 62.52% directly.
What is ZUE S.A.'s company registration number?
ZUE S.A.'s registration number is 35657820000000, filed with National Court Register (KRS) in Poland. Its current status on the register is active.
Is ZUE S.A. still an active company?
ZUE S.A.'s status on National Court Register (KRS) is listed as active.
When was ZUE S.A. incorporated?
ZUE S.A. was incorporated on 30 October 2002, according to National Court Register (KRS).
What is ZUE S.A.'s registered address?
The registered address on file for ZUE S.A. is KRAKÓW, Poland.
What legal structure is ZUE S.A. registered as?
ZUE S.A. is registered as a Join Stock Company in Poland.
What is ZUE S.A.'s revenue?
Consolidated ZUE group revenue of approximately PLN 945.9 million in 2025 (PLN 1,219.4 million in 2024); consolidated net profit approximately PLN 11.2 million in 2025.
Is ZUE S.A. listed on a stock exchange?
Listed on the Warsaw Stock Exchange Main Market since 1 October 2010, ticker ZUE, ISIN PLZUE0000015.
Who are the officers/directors of ZUE S.A.?
Management Board of six led by Wieslaw Nowak (President and General Director); Supervisory Board of five chaired by Piotr Korzeniowski.
Does ZUE S.A. have a parent company or subsidiaries?
Parent company of the ZUE capital group, with subsidiaries including Railway Technology International (100%), Railway gft Polska, NTB Systemy and P.B.I. Energopol (93.6%).
Can Zavia monitor changes to ZUE S.A.'s ownership over time?
This profile reflects a point-in-time snapshot from National Court Register (KRS). Zavia's monitoring API can track changes to ZUE S.A.'s registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access ZUE S.A.'s data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Poland, so records like ZUE S.A.'s registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from National Court Register (KRS) and was last synced on 18 September 2026.