Selvita S.A. (SLV) Q4 2025 earnings summary

Executive summary

• Achieved 7% revenue growth and 24% EBITDA increase year-over-year, with adjusted revenue growth of 10% after currency effects.

• Net profit reached PLN 813k, reversing a net loss of PLN -6.1m in 2024; adjusted net profit (excluding incentive program) was PLN 2.8m.

• Commercial revenues rose to PLN 362.9m, with Big Pharma and pharma clients driving 23% growth, while biotech clients declined 5%.

• Europe led regional growth (10%), US grew at half that pace; UK underperformed.

• Drug development segment became the main growth engine, now nearly one-third of commercial revenues.

• Secured PLN 112m in grants for 2026–2029, supporting advanced services and infrastructure.

Financial highlights

• Total revenue: PLN 371.1m (2025) vs PLN 346.3m (2024), up 7%.

• EBITDA: PLN 67.0m (2025) vs PLN 52.6m (2024), up 27%; adjusted EBITDA (excl. incentive scheme): PLN 69.0m.

• Net cash from operating activities: PLN 73.3m (2025) vs PLN 64.1m (2024).

• Net debt to EBITDA improved to 2.1 from 3.5 year-over-year.

• Current ratio: 1.17; quick ratio: 1.10.

• Total assets: PLN 597.8m; equity: PLN 321.7m.

• No dividend declared for 2025.

Outlook and guidance

• 2026 focus on organic growth, efficiency, and selective M&A.

• Backlog for 2026 at PLN 218.9m, stable year-over-year; strong momentum in drug development, pressure in drug discovery.

• Optimization measures expected to yield PLN 27m in cost savings in 2026.

• Continued investment in technology, AI, and infrastructure, supported by grant funding.