in thousand PLN
Specification 31.03.2026 31.12.2025 31.03.2025 unaudited unaudited | |||
Tangible fixed assets | 464 357 | 472 210 | 482 059 |
investment properties | 5 479 | 5 479 | 5 660 |
Goodwill | 41 096 | 40 638 | 40 325 |
Non-tangible assets other than goodwill | 57 579 | 59 306 | 68 021 |
Long-term receivables | 4 207 | 4 348 | 4 205 |
contract assets | 0 | 0 | 1 150 |
Financial assets | 472 | 414 | 530 |
investments accounted for using the equity method | 331 | 293 | 339 |
Deferred income tax assets | 28 154 | 29 571 | 40 311 |
Long-term prepayments | 1 575 | 2 028 | 2 845 |
Total fixed assets | 603 250 | 614 287 | 645 445 |
inventory | 279 549 | 268 214 | 269 881 |
Trade receivables | 226 615 | 193 089 | 230 091 |
Other short-term receivables | 17 885 | 17 020 | 16 847 |
income tax receivables | 1 395 | 2 131 | 2 503 |
contract assets | 106 | 0 | 43 |
Prepayments | 10 155 | 4 193 | 11 089 |
Financial assets | 752 | 0 | 6 166 |
cash | 160 118 | 120 949 | 85 140 |
Assets classified as held for sale | 171 | 144 | 288 |
Total current assets | 696 746 | 605 740 | 622 048 |
TOTAL ASSETS | 1 299 996 | 1 220 027 | 1 267 493 |
Share capital | 5 376 | 5 376 | 5 376 |
Own Shares | -37 018 | -37 336 | -39 813 |
capital from the valuation of the incentive program | 4 023 | 3 447 | 2 020 |
capital from the valuation of the investment contract options | -49 238 | -49 238 | -49 238 |
Reserve capital for the share buyback program | 170 730 | 49 230 | 49 230 |
Statutory reserve capital | 1 792 | 1 792 | 1 792 |
Retained profits | 496 045 | 610 285 | 613 492 |
Exchange rate differences | -13 729 | -14 954 | -17 551 |
Total equity of the Parent company | 577 981 | 568 602 | 565 308 |
Non-controlling interests | 31 331 | 31 088 | 30 869 |
Overall equity of the Parent company and non-controlling interests | 609 312 | 599 690 | 596 177 |
credits and debt securities | 280 008 | 265 517 | 253 024 |
Long-term provisions for employee benefits | 17 825 | 17 632 | 19 043 |
Deferred income | 13 824 | 8 732 | 10 051 |
Provision for deferred tax | 13 220 | 13 580 | 14 817 |
Long-term liabilities | 0 | 455 | 418 |
Financial liabilities due to leasing | 16 651 | 15 409 | 18 671 |
Financial liabilities due to option valuation | 52 580 | 51 812 | 49 238 |
Total long-term liabilities | 394 108 | 373 137 | 365 262 |
credits and debt securities | 34 580 | 35 884 | 42 528 |
Trade liabilities | 149 399 | 113 872 | 130 875 |
Other financial liabilities | 953 | 0 | 633 |
Financial liabilities due to leasing | 5 885 | 6 697 | 6 456 |
Other short-term liabilities | 37 017 | 37 258 | 41 490 |
income tax liabilities | 489 | 884 | 416 |
contractual liabilities | 7 036 | 1 491 | 19 461 |
Deferred income | 1 710 | 3 293 | 1 148 |
Short-term provisions for employee benefits | 49 633 | 41 220 | 48 728 |
Other short-term provisions | 9 703 | 6 457 | 14 031 |
Liabilities classified as held for sale | 171 | 144 | 288 |
Total short-term liabilities | 296 576 | 247 200 | 306 054 |
TOTAL LiABiLiTiES | 1 299 996 | 1 220 027 | 1 267 493 |
01/01/2026 01/01/2025 Specification 31/03/2026 31/03/2025 unaudited unaudited | ||
Sales revenues | 368 212 | 357 406 |
Prime costs of the sale | 287 959 | 286 077 |
Gross profit (loss) on sales | 80 253 | 71 329 |
Selling costs | 9 705 | 10 253 |
General and administrative costs | 58 553 | 52 678 |
Other operating revenues | 726 | 1 003 |
Other operating expenses | 500 | 716 |
Profit/loss on operating activity | 12 221 | 8 685 |
Loss (gain) due to impairment (reversal of losses) on trade and other receivables in -884 1 191 | ||
accordance with IFRS 9 | ||
Financial revenues | 2 979 | 7 705 |
Financial expenses | 7 966 | 4 003 |
Gross profit/loss (before taxation) | 8 118 | 11 196 |
Income tax | 1 774 | 3 791 |
Net result on continuing operations | 6 344 | 7 405 |
Net result on discontinued operations | -24 | -196 |
Net result | 6 320 | 7 209 |
attributable to: | ||
shareholders of the parent company | 6 502 | 7 785 |
on continuing operations | 6 522 | 7 944 |
on discontinued operations | -20 | -159 |
non-controlling shareholders | -182 | -576 |
on continuing operations | -177 | -539 |
on discontinued operations | -5 | -37 |
Weighted average number of shares | 25 194 415 | 24 995 333 |
Earnings per share on continuing operations | 0,26 | 0,32 |
Earnings per share on discontinued operations | 0,00 | -0,01 |
Earnings per share | 0,26 | 0,31 |
Diluted weighted average shares | 26 881 922 | 26 617 959 |
Diluted earnings per share on continuing operations | 0,24 | 0,30 |
Diluted earnings per share on discontinued operations | 0,00 | -0,01 |
Diluted earnings per share | 0,24 | 0,29 |
Specification | 01.01.2026 - 31.03.2026 unaudited | 01.01.2025 - 31.03.2025 unaudited | |
Net profit | 6 320 | 7 209 | |
Total adjustments for: | 38 891 | 26 213 | |
Depreciation | 19 670 | 20 033 |
Net foreign exchange rate profit and loss | 5 217 | -8 844 |
Net interest and dividends | 2 655 | 3 343 |
Income tax on profit before tax | 834 | 1 538 |
Profit (loss) on investment activities | 649 | 531 |
Change in provisions | 11 493 | 2 974 |
Change in inventory | -11 336 | 2 266 |
Change in receivables | -34 792 | -29 865 |
Change in liabilities | 43 826 | 38 324 |
Change in prepayments and deferred income | -582 | -5 782 |
Other adjustments | 1 257 | 1 695 |
Income tax paid | 120 | -1 157 |
Cash from discontinued operations | -43 | 196 |
Net cash flows from operating activity | 45 288 | 32 461 |
Inflows from sale of fixed assets and intangible and legal assets | 171 | 235 |
Purchase of fixed assets and intangible and legal assets | -11 787 | -22 887 |
Other investment cash flows | -12 | -1 034 |
Income from financial assets | 0 | 53 044 |
Net cash from investing activities | -11 628 | 29 358 |
Change in the balance of credits | 9 275 | -15 764 |
Paid interest | -2 989 | -3 251 |
Inflows from the implementation of the incentive program | 318 | 360 |
Financial expenditure on lease | -1 260 | -1 539 |
Other revenues/expenses | 23 | -973 |
Net cash flows from financing activity | 5 367 | -21 167 |
Change in cash and cash equivalents | 39 027 | 40 652 |
Net exchange differences in cash and cash equivalents | 142 | -1 097 |
Opening balance of cash | 120 949 | 45 585 |
Net change in cash | 39 169 | 39 555 |
Closing balance of cash | 160 118 | 85 140 |
including of limited disposability | 62 | 43 |
31.03.2026 | As at 31.12.2025 | 31.03.2025 | |
(unaudited) | (unaudited) | ||
Tangible fixed assets | 322 100 | 329 095 | 339 348 |
Intangible assets | 4 162 | 4 201 | 8 209 |
Other long-term accounts receivable | 2 812 | 2 714 | 2 910 |
Contract assets | 0 | 0 | 1 150 |
Shares | 186 245 | 186 245 | 211 888 |
Financial assets | 49 787 | 57 504 | 49 589 |
Deferred income tax assets | 20 373 | 21 767 | 32 890 |
Long-term active prepayments and accrued income | 1 474 | 1 628 | 913 |
Total fixed assets | 586 953 | 603 154 | 646 897 |
Stocks | 125 705 | 134 522 | 130 338 |
Trade accounts receivable | 174 846 | 147 466 | 175 916 |
Other short-term accounts receivable | 5 557 | 7 798 | 5 764 |
Contract assets | 0 | 0 | 43 |
Active prepayments and accrued income | 5 877 | 2 215 | 5 929 |
Financial assets | 9 492 | 1 338 | 7 462 |
Cash and cash equivalents | 124 060 | 86 057 | 65 985 |
Total current assets | 445 537 | 379 396 | 391 437 |
TOTAL ASSETS | 1 032 490 | 982 550 | 1 038 334 |
Share capital | 5 376 | 5 376 | 5 376 |
Own Shares | -37 018 | -37 336 | -39 813 |
Statutory reserve capital | 1 792 | 1 792 | 1 792 |
Capital from the valuation of the incentive program | 4 023 | 3 447 | 2 020 |
Reserve capital for the share buyback program | 170 730 | 49 230 | 49 230 |
Retained profit | 453 468 | 568 736 | 593 785 |
Total shareholders' equity | 598 371 | 591 245 | 612 390 |
Credits | 261 286 | 245 068 | 244 138 |
Long-term provisions | 13 098 | 12 832 | 13 499 |
Financial liabilities due to leasing | 8 276 | 8 703 | 20 515 |
Financial liabilities due to option valuation | 6 584 | 6 488 | 0 |
Income from future periods | 25 | 25 | 27 |
Total long-term liabilities | 289 269 | 273 116 | 278 179 |
Credits and debt securities | 18 062 | 17 797 | 17 616 |
Trade liabilities | 76 983 | 58 025 | 68 268 |
Other financial liabilities | 951 | 0 | 633 |
Financial liabilities | 2 836 | 2 879 | 17 290 |
Other short-term liabilities | 15 819 | 15 765 | 0 |
Income tax liabilities | 1 | 1 | 4 219 |
Liabilities related to the contract | 0 | 0 | 198 |
Income from future periods | 105 | 2 347 | 36 819 |
Provisions | 30 093 | 21 375 | 147 765 |
Total short-term liabilities | 144 850 | 118 189 | 147 765 |
TOTAL LIABILITIES | 1 032 490 | 982 550 | 1 038 334 |
01.01.2026 | 01.01.2025 | |
31.03.2026 | 31.03.2025 | |
(unaudited) | (unaudited) | |
Sales revenue | 224 239 | 218 535 |
Costs of the sales | 183 701 | 180 984 |
Gross profit on sales | 40 538 | 37 551 |
Selling costs | 2 988 | 3 128 |
General and administrative costs | 27 414 | 22 602 |
Core business result | 10 136 | 11 821 |
Other operating revenues | 186 | 393 |
Other operating expenses | 220 | 317 |
Operating result | 10 102 | 11 897 |
Loss (reversal of losses) due to impairment on trade and other receivables in accordance -270 1 854 | ||
with IFRS 9 | ||
Interest revenues | 1 141 | 1 168 |
Financial revenues | 752 | 8 077 |
Financial expenses | 5 204 | 12 847 |
Pre-tax profit | 7 061 | 6 441 |
Income tax | 1 538 | 3 233 |
current | 290 | 977 |
deferred | -1 479 | 564 |
deferred (activities in Polish Investment Zone) | 2 727 | 1 692 |
Net profit | 5 523 | 3 208 |
Weighted-average number of shares | 25 194 415 | 24 995 333 |
Earnings per share | 0,22 | 0,13 |
Weighted-average diluted number of shares | 26 881 922 | 26 617 959 |
Diluted earnings per share | 0,21 | 0,12 |
For the period from 01.01 to 31.03 | ||||
2026 | 2025 | |||
(unaudited) | (unaudited) | |||
Net profit | 5 523 | 3 208 | ||
Total adjustments: | 29 543 | 21 376 | ||
− Depreciation | 13 131 | 13 542 | ||
− Net foreign exchange (gains) losses | 3 273 | -7 480 | ||
− Net interest and dividends | 1 535 | 1 260 | ||
− Income tax on profit before taxation | 290 | 977 | ||
− (Profit) losses from investing activities | 96 | 9 657 | ||
− Change in provisions | 8 984 | 3 284 | ||
− Change in stocks | 8 817 | 8 599 | ||
− Change in accounts receivable | -25 972 | -21 338 | ||
− Change in liabilities | 22 461 | 13 674 | ||
− Change in active prepayments and accrued income | -4 356 | -1 464 | ||
− Other adjustments | 1 284 | 665 | ||
− Income tax paid | 0 | -854 | ||
Net cash from operating activities | 35 066 | 23 730 | ||
Income from sales of tangible and intangible fixed assets | 0 | 133 | ||
Income from financial assets | 451 | 53 473 | ||
Income from repayment of loans | 1 678 | 302 | ||
Income from repayment of interest on loans | 131 | 210 | ||
Acquisition of tangible and intangible fixed assets | -9 555 | -20 194 | ||
Net cash from investing activities | -7 295 | 33 924 | ||
Repayment of investment loan | -4 507 | 0 | ||
Repayment of credits | 17 078 | -12 570 | ||
Inflows from the implementation of the incentive program | 318 | 360 | ||
Interest paid | -2 116 | -2 752 | ||
Financial expenses (leasing) | -680 | -645 | ||
Net cash from financing activities | 10 093 | -15 607 | ||
Change in cash | 37 864 | 42 047 | ||
Change in cash resulting from foreign exchange differences | 139 | -1 016 | ||
Cash at beginning of period | 86 057 | 24 954 | ||
Change in net cash | 38 003 | 41 031 | ||
Cash at end of period | 124 060 | 65 985 | ||
including restricted cash | 57 | 43 | ||