Stalprodukt (STP) Q2 2025 earnings summary

Executive summary

• Sales revenue increased by 6.0% year-over-year to PLN 1,984 million in H1 2025, but the group posted a net loss of PLN 28.2 million, compared to a net loss of PLN 19.4 million in H1 2024.

• Electrical Sheets and Profiles segments delivered positive results, while the Zinc segment recorded a loss.

• The group paid a dividend of PLN 6 per share for 2024, totaling PLN 30.5 million.

Financial highlights

• Net sales: PLN 1,984 million (up from PLN 1,871 million year-over-year).

• Operating loss: PLN 19.5 million (improved from a loss of PLN 30.1 million year-over-year).

• Net loss: PLN 28.2 million (vs. PLN 19.4 million loss year-over-year).

• Net cash flow from operating activities: PLN -18.8 million (vs. PLN -11.4 million year-over-year).

• Total assets: PLN 4,988 million as of June 30, 2025.

• Book value per share: PLN 690.09 (down from PLN 700.45 year-over-year).

Outlook and guidance

• Management expects continued pressure on transformer sheet prices and volumes due to aggressive Chinese competition and weak EU market protection.

• No significant improvement is expected in the coming quarters for the Profiles segment due to challenging macroeconomic conditions.

• Key risks include volatility in input prices, energy costs, and exchange rates.