UNIBEP (UNI) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 was PLN 1,614.9 million, down 12% year-over-year, mainly due to a decline in the development segment and selective contracting in construction.

• Net profit attributable to shareholders of the parent was PLN 15.2 million, a ninefold increase year-over-year after adjusting for one-off events.

• EBITDA reached PLN 89 million, with a gross margin improvement to 9% from 6.9% year-over-year, reflecting operational efficiency.

• The order backlog as of October 1, 2025, stood at PLN 4,134 million, indicating strong future revenue visibility.

Financial highlights

• Net profit for the period was PLN 22.4 million, down 79% year-over-year due to the absence of last year's one-off gains.

• Adjusted EBIT for the first nine months was PLN 58.9 million, up from PLN 55.9 million year-over-year, excluding one-off items.

• Cash at period end was PLN 274 million, nearly double the previous year, supporting liquidity.

• Net debt dropped to PLN 37 million from PLN 222 million a year earlier.

• Capitalization on the Warsaw Stock Exchange as of September 30, 2025, was PLN 398 million.

Outlook and guidance

• The company expects continued improvement in operational profitability due to selective contracting and a focus on higher-margin projects.

• A robust order backlog and intensified contracting in military and energy sectors are expected to drive future growth.

• No official financial forecasts for 2025 have been published.