Elektrotim S.a. · GPW:ELT
Elektrotim — Q1 2025 Earnings Presentation
25 slides from Elektrotim's earnings presentation, May 27, 2025
Slide 1: Investor Presentation: Financial Results for 1Q25
Investor Presentation ELEKTROTIM S.A. Financial Results for 1Q25 May 27, 2025
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation has been prepared by ELEKTROTIM S.A. and is intended solely for Moreover, this presentation may contain forward-looking statements, including informational purposes, aimed at presenting information on the financial performance of regarding financial results. Such s
Slide 3: ELEKTROTIM S.A.
ELEKTROTIM S.A. A leading company among Polish Power Networks electrical installation providers. ▪ Power Engineering For over 25 years, it has delivered ▪ Railway Traction engineering services in the field of electrical power systems and safety systems. Installations and Infrastructure ▪ Industry ▪
Slide 4: Key Figures
Key Figures 26 years 1500+ 5000+ on the Polish power satisfied customers completed projects engineering market since 1999 since 1999 since 2007 since 2023 PLN 25 million listed on the Warsaw part of the sWIG80 dividend payout Stock Exchange index for 2024 108% PLN 748 million Over PLN 500 million re
Slide 5: Presentation Agenda
Presentation Agenda Key events at ELEKTROTIM S.A. Financial results of Q&A session and its Capital Group in the ELEKTROTIM S.A. and context of the market ELEKTROTIM Capital Group
Slide 6: Key events at ELEKTROTIM S.A. and its Capital Group in the context of the market
Key events at ELEKTROTIM S.A. and its Capital Group in the context of the market
Slide 7: Macroeconomic Situation
Macroeconomic Situation GDP grew by 3.2% YoY in constant prices in Q1 2025, following a 3.4% YoY increase in the previous quarter. Construction and assembly output declined by 4.2% YoY in April 2025; seasonally adjusted data shows a 2.9% drop vs. April 2024. The construction market is expected to gr
Slide 8: Market Environment Assessment
Market Environment Assessment POSITIVE FACTORS NEGATIVE FACTORS • National Recovery Plan (KPO) and Energy Support • Difficulties in attracting specialized workforce and Fund: approx. PLN 40 billion allocated to Tauron, ongoing wage pressure. Energa, PGE, and Enea for modernization of the Decline in
Slide 9: Key Contracts Secured in Q1 2025
Key Contracts Secured in Q1 2025 Net Value EDF Renewables Polska TAURON Dystrybucja ENEA Operator Construction of an energy storage Modernization of the 110/20 kV Redevelopment of the 110/15 kV facility in Stary Grodków Marciszów substation Golczewo substation PLN 27 mln PLN 25 mln PLN 23 mln TAURON
Slide 10: Key Contracts Secured After Q1 2025
Key Contracts Secured After Q1 2025 Net Value STOEN OPERATOR TAURON Dystrybucja POLONEZ PLUS Modernization of the 110/15 kV Modernization of the 110/15 kV Electrical installations for the Białołęka substation Dworszowice substation Mercedes-Benz investment project in Jawor PLN 37 mln PLN 25 mln PLN
Slide 11: Order Backlog of ELEKTROTIM S.A.
Order Backlog of ELEKTROTIM S.A. as of April 30, 2025 (in PLN million) 800 748 700 680 647 643 610 589 600 569 568 542 545 524 499 500 473 400 329 293 300 271 238 253 247 240 232 224 200 100 0 RECORD-HIGH BACKLOG VALUE PLN 287 million – total PLN 70 million – value of contracts at the Planned Backlo
Slide 12: Current Plans and Operational Goals
Current Plans and Operational Goals New Strategy for 2026–2030 Development of the Company in core business areas: power engineering, installations, and infrastructure Leveraging the energy transition trend and planned investments by PSE (TSO) and DNOs Workforce development aligned with the Company’s
Slide 13: Financial Results
Financial Results of ELEKTROTIM S.A.
Slide 14: Income Statement Selected Line Items
Income Statement of ELEKTROTIM S.A. Selected Line Items 1Q 2025 1Q 2024 Change % Sales Revenue 90 778 61 809 46.9% Gross Profit on Sales 12 302 8 044 52.9% • Sales Margin 13.6% 13.0% 0.6 pp Operating Profit (EBIT) 5 746 7 182 -20% • Operating Margin 6.3% 11.6% -5.3 pp EBITDA 6 911 8 170 -15.4% Net P
Slide 15: Income Statement Additional Information
Income Statement of ELEKTROTIM S.A. Additional Information Other Operating Activities Q1'2025 Q1'2024 Other Operating Income 884 5 194 Other Operating Expenses Q1-3Q 2024 544 682 Gain (Loss) on Expected Credit Losses 381 -83 Balance of Other Operating Activities 721 4 429 Provisions Recognized Q1'20
Slide 16: Standalone Revenue of ELEKTROTIM S.A.
Standalone Revenue of ELEKTROTIM S.A. By Segment 90 778 61 809 55 233 Installations and Infrastructure 35 587 Power Networks 35 545 26 223 Q1 2025 Q1 2024 * Figures in PLN thousand
Slide 17: Standalone Balance Sheet of Assets
Standalone Balance Sheet of Assets – Selected Line Items ELEKTROTIM S.A. 31.03.2025 31.12.2024 Change % Non-Current Assets 39 122 37 980 3% Current Assets 189 001 220 647 -14% • including Short-Term Receivables 66 234 90 063 -26% • including Cash and Cash Equivalents 25 987 47 341 -45% Total Assets
Slide 18: Standalone Balance Sheet of Liabilities and Equity
Standalone Balance Sheet of Liabilities and Equity – Selected Line Items ELEKTROTIM S.A. 31.03.2025 31.12.2024 Change % Equity 133 706 129 399 3% Long-Term Liabilities 23 778 22 943 4% Short-Term Liabilities 70 639 106 285 -34% • including Trade Payables 41 573 75 401 -45% * Figures in PLN thousand
Slide 19: Cash Flow of ELEKTROTIM S.A.
Cash Flow of ELEKTROTIM S.A. 90 000 2 480 80 000 23 350 70 000 60 000 5 526 1 165 50 000 47 341 -34 824 40 000 30 000 -16 017 -86 25 987 -911 -1 116 -921 20 000 10 000 0 Change in Financial and Cash as of Receivables Change in Change in Contract Change in Income Tax Cash as of Gross Profit Depreciat
Slide 20: Liquidity Ratios
Liquidity Ratios of ELEKTROTIM S.A. 2,59 2,68 2,00 2,08 -0,61 -1,87 Net Financial Debt to EBITDA Quick Ratio Current Ratio 31.12.2024 31.03.2025
Slide 21: Growth Dynamics
Growth Dynamics of ELEKTROTIM S.A. Sales Revenue (in PLN million) EBITDA (in PLN million) 92 91 CAGR 8 8 CAGR +23% +75.6% 7 62 39 34 1 1Q 2021 1Q 2022 1Q 2023 1Q 2024 1Q 2025 1Q 2021 1Q 2022 1Q 2023 1Q 2024 1Q 2025 -3 Gross Sales Margin EBITDA Margin 14,4% 13,2% 13,0% 13,6% 9,2% 7,6% 5,9% 1,9% 1Q 20
Slide 22: Financing Sources
Financing Sources of ELEKTROTIM S.A. 03/2025 2024 Credit and Factoring Limits (in PLN million) 238 144 Guarantee Limits (in PLN million), including: 463 348 • Insurance Guarantees (in PLN million 188 179 • Insurance Guarantees (in EUR million) 6 6 • Bank Guarantees (in PLN million) 253 144
Slide 23: Dividend Policy
Dividend Policy of ELEKTROTIM S.A. Dividend payout for the year 2024 Total dividend distributed in 2023–2025: PLN 65 million (i.e. PLN 25 mln PLN 2.5 per PLN 6.5 per share) share Dividend payment date: July 25, 2025 Dividend per Share (PLN/share) 0.6 1.2 0.4 - - - - - 1.5 2.5 2.5 Total Dividend (in
Slide 24: ELEKTROTIM S.A. Share Price Performance
24 ELEKTROTIM S.A. Share Price Performance for the period: December 30, 2024 – May 26, 2025 ELEKTROTIM S.A. (26.05.2025) 59 Number of shares 9 983 009 mCap PLN 520 million P/E 9.57 54 P/BV 3.87 Change 1Y +89.66% Change 2Y +456.68% Change 3Y +856.01% 49 Change % YTD +37.83% 44 39 34 2024-12-30 2025-0
Slide 25: Z elektrotim
Z elektrotim BA Q