Fabryka Farb i Lakierów Sniezka (SKA) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue was PLN 380.340m, essentially flat YoY; EBITDA rose 2.0% to PLN 67.829m and net income increased 14.3% to PLN 35.745m.

• Operating profit increased to PLN 47.847m from PLN 47.351m; performance varied across regions, with growth in Hungary and declines in Poland and Ukraine.

• A record PLN 64.982m dividend for 2025, or PLN 5.15 per share, was paid in June 2026; cumulative dividends since IPO reached PLN 647.1m.

Financial highlights

• Gross margin increased 2.6 percentage points YoY to 52.5%; gross profit rose 5.1% to PLN 199.532m.

• Q2 revenue was PLN 215.583m versus PLN 208.090m; net income was PLN 21.717m versus PLN 20.459m.

• H1 basic and diluted EPS were PLN 2.73, up from PLN 2.38 YoY.

• Operating cash flow was negative PLN 10.826m versus positive PLN 26.806m; period-end cash was PLN 9.803m.

• Total assets were PLN 805.409m at June 30, 2026, down 1.4% YoY; working capital increased 4.1% YoY, mainly on higher inventories and receivables.

Outlook and guidance

• Q2 and Q3 are typically the strongest sales and operating-profit quarters, together representing ~60% of annual revenue; summer demand is a key seasonal driver.

• The annual goodwill impairment test is scheduled for December 31, 2026; the June review of the Ukraine subsidiary found no need for a full impairment test.