Selvita S.A. (SLV) Q2 2025 earnings summary

Executive summary

• Revenues in H1 2025 rose 18% year-over-year to PLN 186.6 million, with organic growth at 13% and strong contributions from both Big Pharma and biotech clients.

• Adjusted EBITDA increased 59% year-over-year to PLN 30.9 million, driven by higher commercial revenues.

• Net loss (excluding incentive scheme) narrowed to PLN -4.2 million from PLN -10.0 million in H1 2024.

• Backlog as of September 2025 reached PLN 334.2 million, up 6% year-over-year, with normalized growth at 9%.

Financial highlights

• Total assets at June 30, 2025: PLN 619.1 million; equity: PLN 315.8 million.

• Cash and equivalents at June 30, 2025: PLN 14.4 million; increased to PLN 20.7 million by September 11, 2025.

• Operating cash flow: PLN 22.3 million; net cash outflow due to investing and financing activities.

• EBITDA margin (organic): 18% in H1 2025 vs. 14% in H1 2024.

• Book value per share: PLN 17.21.

Outlook and guidance

• Cost optimization measures, including a 10% headcount reduction and closure of the Poznań chemical lab, are expected to yield PLN 27 million in annual savings from 2026.

• Positive impact of these measures expected in H2 2025, after one-off costs of PLN 1.7 million.

• Market normalization and improved biotech financing since mid-2025 support a cautiously optimistic outlook.