Stalprodukt (STP) Q1 2025 earnings summary

Executive summary

• Sales revenue increased by 15% year-over-year to PLN 1,032.5 million in Q1 2025, with a net loss of PLN 18.7 million, a significant improvement from a PLN 41.0 million loss in Q1 2024.

• Gross profit on sales rose to PLN 51.6 million from PLN 14.1 million year-over-year, but operating loss narrowed to PLN 21.5 million from PLN 49.3 million.

• The Electrical Sheets Segment returned to profitability, while the Profiles and Zinc Segments remained loss-making.

• Cash flow from operations was negative at PLN -132.2 million, compared to a positive PLN 21.7 million in Q1 2024.

Financial highlights

• Net sales: PLN 1,032.5 million (up 15% year-over-year).

• Net loss: PLN 18.7 million (improved from PLN 41.0 million loss year-over-year).

• Operating loss: PLN 21.5 million (improved from PLN 49.3 million loss year-over-year).

• Gross margin: 5.0% (up from 1.6% year-over-year).

• EPS: PLN -3.46 (improved from PLN -7.60 year-over-year).

• Book value per share: PLN 696.46 (down from PLN 700.45 at year-end 2024).

• Cash and cash equivalents: PLN 959.2 million (down from PLN 1,112.9 million at year-end 2024).

Outlook and guidance

• Management highlights ongoing risks from volatile raw material prices, energy costs, and currency fluctuations.

• The Electrical Sheets Segment may require restructuring if market conditions deteriorate.

• The Group expects continued pressure from Asian competitors and uncertain macroeconomic conditions in key customer industries.