Grupa RECYKL (GRC) Q4 2025 earnings summary

Executive summary

• Consolidated sales revenue reached PLN 145.4m in 2025, up 8.7% year-over-year, with the largest share from processed tire products (PLN 74.7m, 51.4% of total revenue).

• Net profit amounted to PLN 9.4m, EBITDA PLN 25.9m, and EBIT PLN 16.9m, all slightly lower than 2024.

• The group completed its first foreign acquisition, buying 100% of Lithuania's APG, the largest tire recycling entity in the Baltics.

• Dividend payout in October 2025 was PLN 1.70 per share (PLN 2.9m total), with cumulative dividends since 2022 exceeding PLN 6.8m.

• Operationally, tire processing volume was 130k tons (down from 135k tons), but sales volume of processed products rose 7.8% year-over-year.

Financial highlights

• Revenue: PLN 145.4m (2025) vs. PLN 133.7m (2024), +8.7% year-over-year.

• EBITDA: PLN 25.9m (2025) vs. PLN 26.9m (2024), -3.8% year-over-year.

• EBIT: PLN 16.9m (2025) vs. PLN 18.2m (2024), -7.3% year-over-year.

• Net profit: PLN 9.4m (2025) vs. PLN 10.9m (2024), -13.5% year-over-year.

• Total assets: PLN 234.7m (2025) vs. PLN 202.8m (2024), +15.8% year-over-year.

• Equity: PLN 79.3m (2025) vs. PLN 71.3m (2024), +11.1% year-over-year.

• Net debt: PLN 76.7m (2025) vs. PLN 64.8m (2024), +18.4% year-over-year.

• Operating cash flow: PLN 25.0m (2025) vs. PLN 25.2m (2024).

Outlook and guidance

• Management expects continued revenue and earnings growth, though profitability may remain under pressure from challenging macroeconomic and cost conditions.

• Strategic focus remains on organic growth, further M&A (notably the pending German HRV acquisition), and innovation in product development.

• The group is on track to meet its 2030 strategy targets, having achieved 60% of planned cumulative revenue and 48% of EBITDA goals.