Fabryki Mebli FORTE (FTE) investor relations material

Executive summary

• Sales revenue increased by 6.8% year-over-year to PLN 288.4 million for Q2 2026, but the period ended with a net loss of PLN 22.97 million compared to a net profit of PLN 11.23 million in Q2 2025.

• Operating loss was PLN 14.52 million, a sharp decline from an operating profit of PLN 23.72 million a year earlier, mainly due to lower gross margin and higher costs.

• Gross margin dropped to 27.0% from 37.5% year-over-year, impacted by higher material costs and reduced hedging gains.

Financial highlights

• Sales revenue: PLN 288.4 million (up 6.8% YoY).

• Net loss: PLN 22.97 million vs. net profit of PLN 11.23 million YoY.

• Operating loss: PLN 14.52 million vs. operating profit of PLN 23.72 million YoY.

• EBITDA: PLN 312 thousand, down from PLN 37.67 million YoY.

• Net cash flow from operating activities: PLN 3.09 million, down from PLN 43.03 million YoY.

Outlook and guidance

• Gross margin pressure expected to persist due to high material and transport costs.

• Ongoing reorganization, including phasing out cabinet furniture at Hajnówka, may impact future cost structure.