Grenevia S.A. (GEA) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was 390 mln PLN, down from 488 mln PLN year-over-year, with net profit at 36 mln PLN versus 80 mln PLN in Q1 2025.

• The group continues its strategic transformation toward renewable energy, e-mobility, and energy storage, reducing reliance on coal mining.

• Significant segment diversification: FAMUR (mining/wind), OZE (renewables), E-mobility, and Elektroenergetyka (energy distribution).

Financial highlights

• Gross profit from sales: 126 mln PLN in Q1 2026.

• EBITDA for Q1 2026 was 103 mln PLN, down from 172 mln PLN in Q1 2025.

• Operating cash flow was -141 mln PLN, a significant decrease from +66 mln PLN year-over-year.

• Cash and equivalents at period end: 1,344 mln PLN, down from 1,526 mln PLN at the start of the quarter.

• Total assets: 4,492 mln PLN as of 31.03.2026.

Outlook and guidance

• Management sees no threat to business continuity despite macroeconomic risks, war in Ukraine, and climate change.

• Strategic focus remains on green transformation and further diversification.