Grupa RECYKL (GRC) Q2 2025 earnings summary

Executive summary

• Consolidated sales revenue rose by 13.7% year-over-year in Q2 2025, with a 26.1% increase in gross profit from sales, despite a 3.4% drop in EBITDA and a 7.3% decrease in net profit compared to Q2 2024.

• The acquisition of Lithuanian company APG in April 2025 expanded the group's market reach and contributed significantly to revenue growth in recycling and collection services.

• The group continued to invest in production capacity and renewable energy, with major projects completed in recent years and ongoing integration of APG.

Financial highlights

• Q2 2025 consolidated revenue: 38.8m PLN (+13.7% y/y); net profit: 4.56m PLN (-7.3% y/y); EBITDA: 9.08m PLN (-3.4% y/y).

• H1 2025 consolidated revenue: 70.4m PLN (+8.9% y/y); net profit: 4.90m PLN (-22.8% y/y).

• Gross margin from sales improved to 17.3% in Q2 2025 (vs 15.6% in Q2 2024).

• EBIT margin: 17.6% in Q2 2025 (vs 20.9% in Q2 2024); EBITDA margin: 23.4% (vs 27.5%).

• Net margin (ROS): 11.7% in Q2 2025 (vs 14.4% in Q2 2024).

Outlook and guidance

• Management expects a rebound in demand for rubber granulates in H2 2025 as clients resume planned investments.

• No formal financial forecasts for 2025 were published.