Selvita S.A. (SLV) Q3 2025 earnings summary

Executive summary

• Group commercial revenues increased by 12% year-over-year for Q1–Q3 2025, with EBITDA up 34% and organic EBITDA up 22% year-over-year, reflecting strong operational performance and effective cost optimization.

• Operating revenues for the first three quarters of 2025 reached PLN 276.2 million, up 11% year-over-year, with commercial revenues rising 7% to PLN 255.0 million, driven by biotech and Big Pharma clients.

• Adjusted EBITDA (excluding incentive program and one-off costs) increased 41% year-over-year to PLN 49.6 million, reflecting higher sales, improved performance from 2024 acquisitions, and optimization efforts.

• Positive/neutral EBITDA from assets acquired in H1 2024, with intensified resource optimization and expected total savings of ~PLN 27m in 2026.

• Net loss for the period, adjusted for the incentive program, was PLN -4.8 million.

Financial highlights

• Q1–Q3 2025 commercial revenues reached PLN 270.6m, up 12% year-over-year; organic commercial revenues grew 7%.

• EBITDA for Q1–Q3 2025 was PLN 46.9m, up 34% year-over-year, with a margin of 17%.

• Adjusted EBITDA rose 41% year-over-year, with resource optimizations contributing to improved profitability.

• Total assets as of September 30, 2025, were PLN 610.8 million, with equity at PLN 316.3 million.

• Cash and equivalents stood at PLN 17.0 million at quarter-end, increasing to PLN 20.7 million by November 13, 2025.

Outlook and guidance

• Backlog for 2025 increased by 8% year-over-year, with several contracts expected to be extended in December/January, which will be decisive for the 2026 outlook.

• PLN 27m in savings expected in 2026 from ongoing cost optimization programs, including a 10% headcount reduction and site consolidation.

• The company anticipates improved operating results in H2 2025 due to these measures.

• Market uncertainty and volatility persist, leading to shorter contract periods.