UNIBEP (UNI) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was PLN 429.8m, down 5.7% year-over-year; net loss of PLN 4.0m compared to net profit of PLN 76.3m in Q1 2024.

• Gross profit margin improved to 6.98% from 3.57% year-over-year, but operating profit remained low at PLN 4.4m.

• Significant negative swing in net income due to lower other operating income and higher financial costs.

• Cash position decreased sharply to PLN 105.7m from PLN 262.5m at year-end 2024.

• Several large contracts signed post-quarter, including infrastructure and energy projects.

Financial highlights

• Revenue: PLN 429.8m (Q1 2025), down from PLN 455.9m (Q1 2024).

• Net loss: PLN 4.0m vs. net profit of PLN 76.3m year-over-year.

• Gross profit: PLN 30.0m (up from PLN 16.3m); operating profit: PLN 4.4m (up from PLN 1.5m).

• EPS: -0.17 vs. 1.16 year-over-year.

• Net cash from operations: PLN -152.6m; cash at period end: PLN 105.7m.

Outlook and guidance

• Management notes seasonality and weather impacted Q1 activity, especially in infrastructure.

• No material changes in group structure; focus remains on leveraging synergies and technological advancement.

• Company continues to monitor war in Ukraine for potential impacts and opportunities.