Skarbiec Holding (SKH) Q1 2026 earnings summary

Executive summary

• Consolidated revenue for Q1 2026 reached PLN 30.9m, more than double the prior year, driven by the inclusion of brokerage operations after the acquisition of Noble Securities S.A. in April 2025.

• Net profit for Q1 2026 was PLN 2.4m, a decrease from PLN 2.6m in Q1 2025, reflecting higher operating costs and integration of new business lines.

• The group maintained strong capital adequacy and liquidity, with no breaches of regulatory requirements.

Financial highlights

• Revenue from management services: PLN 16.8m (Q1 2025: PLN 14.3m); brokerage revenue: PLN 13.5m (Q1 2025: PLN 0).

• Operating costs rose to PLN 36.0m (Q1 2025: PLN 14.3m), mainly due to consolidation of Noble Securities and higher personnel expenses.

• Net profit: PLN 2.4m (Q1 2025: PLN 2.6m); EPS: PLN 0.36 (Q1 2025: PLN 0.39).

• Net cash from operating activities: PLN 31.8m (Q1 2025: PLN 26.5m).

• Total assets: PLN 1,057.4m as of March 31, 2026 (Dec 31, 2025: PLN 1,093.2m).

Outlook and guidance

• Management expects continued revenue growth from both asset management and brokerage segments, with ongoing monitoring of market volatility and geopolitical risks.

• The group anticipates stable capital ratios and compliance with regulatory requirements.