Erbud (ERB) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 reached PLN 1,505.1 million, up 4.7% year-over-year; net profit rose to PLN 40.1 million from PLN 17.2 million in 2024.

• Gross margin remained stable at 7%, with EBIT margin at 1% for both years.

• The company maintained operations in Poland and abroad, with foreign sales representing a minor share.

Financial highlights

• Operating profit increased to PLN 15.8 million in 2025 from PLN 11.0 million in 2024.

• EBITDA for 2025 was PLN 28.8 million, up from PLN 23.0 million in 2024.

• Basic and diluted EPS rose to PLN 3.36 from PLN 1.44 year-over-year.

• Cash and equivalents at year-end 2025 were PLN 80.9 million, down from PLN 116.0 million.

• Net cash from operating activities was PLN 54.3 million, with negative net cash flow of PLN -35.1 million.

Outlook and guidance

• Management sees no threat to going concern despite negative net working capital of PLN -58.2 million.

• The company expects continued stable operations, with risk management focused on cost inflation and labor shortages.