Amica (AMC) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 declined by 9.8% year-over-year to PLN 566.9m, with a net loss of PLN 6.7m compared to a net profit of PLN 3.1m in Q1 2024.

• Gross margin decreased to 26.0% from 27.1% year-over-year, and EBITDA margin fell to 3.2% from 3.6%.

• Operating profit dropped to PLN 3.1m from PLN 8.1m year-over-year.

• Cash flow from operating activities was negative at PLN -22.8m to -26.0m, compared to PLN 46.5m in Q1 2024.

• Dividend of PLN 2.00 per share (PLN 15.3m total) to be paid on June 27, 2025.

Financial highlights

• Revenue: PLN 566.9m, down 9.8% year-over-year; gross profit: PLN 147.5m, down 13.5%.

• EBITDA: PLN 18.4m, down 18.6% year-over-year; EBIT: PLN 3.1m, down from PLN 8.1m.

• Net loss: PLN 6.7m vs. net profit of PLN 3.1m year-over-year; net margin: -1.2%.

• Operating cash flow: PLN -22.8m to -26.0m vs. PLN 46.5m year-over-year; cash at period end: PLN 104.2m to PLN 104.8m.

• Net debt increased to PLN 139.5m from PLN 65.8m year-over-year.

Outlook and guidance

• Focus remains on cost efficiency, digital transformation, and product quality to restore profitability.

• Management maintains a stable financial position and expects to maintain sufficient cash resources.

• Macroeconomic forecasts indicate gradual economic recovery in Poland and Europe, with easing inflation and lower interest rates expected to support demand.

• No financial forecasts published.

• The impact of the Ukraine conflict remains uncertain, but no immediate threat to going concern is foreseen.