Erbud (ERB) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was PLN 586.6 million, down 20% year-over-year from PLN 733.1 million in Q1 2025.

• Net loss for Q1 2026 was PLN 20.2 million, compared to a net loss of PLN 15.6 million in Q1 2025.

• All financial covenants were met as of March 31, 2026.

Financial highlights

• Gross profit from sales was PLN 36.6 million in Q1 2026, compared to PLN 36.9 million in Q1 2025.

• EBITDA margin was -0.44% in Q1 2026, down from 0.45% in Q1 2025.

• Basic and diluted loss per share was PLN -1.55 in Q1 2026, compared to PLN -1.10 in Q1 2025.

• Operating cash flow was negative at PLN -144.5 million in Q1 2026, compared to PLN -138.8 million in Q1 2025.

• Cash and cash equivalents at quarter-end were PLN 157.2 million, down from PLN 271.7 million at year-end 2025.

Outlook and guidance

• The impact of the war in Ukraine has lessened but continues to drive higher material and labor costs.

• Management is monitoring geopolitical risks, including the Middle East, for potential effects on energy and material prices.