Fabryki Mebli FORTE (FTE) investor relations material

Executive summary

• Sales revenue for April–December 2025 rose 11.1% year-over-year to PLN 858.5 million, with net profit up 143.7% to PLN 52.5 million.

• Operating profit (EBIT) increased 76% to PLN 63.0 million, and EBITDA grew 34.8% to PLN 104.7 million year-over-year.

• Chipboard sales surged 56.2% year-over-year, now representing 20.3% of total sales.

• Gross margin improved to 35.3%, up 0.8 percentage points from the prior year.

• Net cash flow from operating activities was negative at PLN -6.4 million, with significant outflows in investing and financing activities.

Financial highlights

• Sales revenue: PLN 858.5 million (up from PLN 772.5 million year-over-year).

• Net profit: PLN 52.5 million (up from PLN 21.6 million year-over-year).

• Gross profit: PLN 303.0 million (up from PLN 266.8 million year-over-year).

• Operating profit (EBIT): PLN 63.0 million (up from PLN 35.8 million year-over-year).

• EBITDA: PLN 104.7 million (up from PLN 77.7 million year-over-year).

• Net profit margin: 6.12% (up from 2.79% year-over-year).

Outlook and guidance

• Focus remains on increasing profitability and expanding into new sales markets to offset recessionary pressures in the furniture sector.

• Continued process optimization, cost reduction, and energy efficiency investments are expected to support future results.