Stalprodukt (STP) Q2 2025 earnings summary

Executive summary

• Consolidated sales revenue for H1 2025 increased by 6.0% year-over-year to 1,984,136 thousand PLN, but the group posted a net loss of 28,209 thousand PLN, deepening from a 19,381 thousand PLN loss in H1 2024.

• Operating loss narrowed to 19,467 thousand PLN from 30,079 thousand PLN year-over-year.

• Positive results in the Electrotechnical Sheet and Profile Segments, but the Zinc Segment recorded a loss.

Financial highlights

• Gross profit from sales rose 38.1% year-over-year to 126,896 thousand PLN.

• Net cash flow from operating activities was negative at -18,764 thousand PLN, and net cash flow from investing activities was -124,685 thousand PLN.

• Total assets at 30.06.2025 amounted to 4,987,809 thousand PLN.

• Book value per share at 30.06.2025 was 690.09 PLN.

Outlook and guidance

• Management expects continued pressure on prices and sales volumes in the Electrotechnical Sheet segment due to aggressive Asian competition and increased imports to the EU.

• No significant improvement is anticipated in the coming quarters for the Profile segment due to challenging macroeconomic conditions.

• Key risks for the next quarter include commodity prices, energy costs, currency rates, and CO2 emission allowances.