Fabryki Mebli FORTE (FTE) Q2 2025 earnings summary

Executive summary

• Sales revenue increased by 14.9% year-over-year to PLN 550,217 thousand for the period from April to September 2025.

• Net profit rose sharply to PLN 44,815 thousand from PLN 2,033 thousand in the prior year period.

• Gross margin improved to 37%, up 3.6 percentage points year-over-year.

• Export sales accounted for 73% of total revenues, with strong chipboard sales growth (+55%).

Financial highlights

• Operating profit (EBIT) reached PLN 50,863 thousand, up 265.4% year-over-year.

• EBITDA nearly doubled to PLN 78,709 thousand.

• Net profit margin increased to 8.14% from 0.42% a year earlier.

• Return on equity (ROE) was 4.84%, and return on assets (ROA) was 3.25%.

• Net cash flow from operating activities was negative at PLN -1,103 thousand, while net cash outflows from investing and financing activities were PLN -98,860 thousand and PLN -41,550 thousand, respectively.

Outlook and guidance

• Focus will be on increasing profitability and developing new sales destinations to counteract recessionary effects in the furniture market.

• Management expects continued challenges from weak demand in key European markets and currency headwinds.