Vilniaus Baldai (VBL1L) investor relations material

Executive summary

• Revenue for the first half of FY2026 rose 4.6% year-over-year to EUR 55,245 thousand, with sales volumes up 42.9% to 2,333 thousand units.

• EBITDA declined 44.1% to EUR 4,303 thousand, and net profit dropped 68.4% to EUR 1,207 thousand, reflecting higher labor costs and lower margins from new product launches.

• Strategic investments included EUR 5.3 million in equipment renewal, notably an automated cold press line, and the launch of a new ERP system.

• Workforce expanded by 24% to 693 (including leased employees), supporting increased production but temporarily impacting efficiency.

Financial highlights

• Gross profit margin fell to 9.1% from 16.9% year-over-year; operating profit margin dropped to 3.4% from 10.8%.

• Net profit margin was 2.18% (down from 7.23%), and EPS was EUR 0.31 (down from EUR 0.98).

• Total assets increased to EUR 85,613 thousand from EUR 81,681 thousand year-over-year.

• Non-current assets rose to EUR 61,838 thousand, and financial debts increased to EUR 27,852 thousand.

• Cash and cash equivalents at period end were EUR 23 thousand.

Outlook and guidance

• Plans to continue modernizing production, expand capacity, and further integrate the new ERP system.

• Focus on process efficiency, cost optimization, and attracting engineering talent.

• Renewed financing agreements ensure liquidity for ongoing investments.