Grupa RECYKL (GRC) Q1 2026 earnings summary

Executive summary

• Consolidated sales revenue increased by 2.7% year-over-year in Q1 2026, driven by higher service revenues despite lower product sales volumes and prices.

• EBITDA rose by 2.1% year-over-year, but net profit turned to a loss of -677k PLN due to a one-time write-down related to the Lithuanian acquisition.

• The group continued integration and optimization of international assets, focusing on operational efficiency and market expansion.

Financial highlights

• Consolidated revenue: 32.4m PLN (+2.7% YoY); EBITDA: 4.0m PLN (+2.1% YoY); EBIT: 1.5m PLN (-7.7% YoY); Net profit: -677k PLN (vs. +337k PLN YoY).

• Product sales revenue fell 10.6% YoY due to lower prices and volumes; service revenues (recycling, collection, transport) grew 15–28%.

• Gross margin: 3.1% (vs. 3.0% YoY); EBITDA margin: 12.2% (vs. 12.3% YoY); Net margin: -2.1% (vs. 1.1% YoY).

• Cash at period end: 5.3m PLN; current ratio stable at 0.88.

Outlook and guidance

• No formal financial forecasts for 2026 were published.

• Management remains moderately positive, citing resilience despite challenging market conditions and expects continued growth from new products and investments.