Creotech Instruments (CRI) Q2 2025 earnings summary

Executive summary

• Revenue for the first half of 2025 reached 67.9 mln PLN, up by 56.1 mln PLN year-over-year, driven by progress in the key 'Mikroglob' project.

• Net profit for the period was 3.5 mln PLN, compared to a net loss of 7.5 mln PLN in the same period last year.

• The company completed a successful share issue (series K), raising 76 mln PLN to support strategic projects.

• Major contracts signed include the 'Mikroglob' satellite system for the Polish government and the CAMILA satellite constellation for the European Space Agency.

Financial highlights

• Operating profit was 4.0 mln PLN, a significant turnaround from a 9.1 mln PLN operating loss a year earlier.

• Total assets increased to 300.0 mln PLN as of June 30, 2025, up by 137.7 mln PLN from December 31, 2024.

• Cash and equivalents rose to 142.9 mln PLN, mainly due to the share issue and project advances.

• Equity increased to 147.3 mln PLN, up by 76.3 mln PLN from year-end 2024.

• EBITDA for H1 2025 was 10.9 mln PLN, compared to -5.1 mln PLN in H1 2024.

Outlook and guidance

• The company expects continued strong performance, supported by a robust order backlog and secured project financing.

• No dividend payments are planned for the reporting period.