ONO ONESANO Giełda Papierów Wartościowych w Warszawie · annual · publ. April 27, 2026

FY 2025 report

Przychody wzrosły o 11,6% do 11,9 mln zł, a strata netto zmalała z 5,8 mln zł do 4,8 mln zł dzięki cięciu kosztów sprzedaży i zarządu.

Sentiment

Cautious No guidance change

Website

ONO FY 2025 report

Revenue

11.93 m PLN

— YoY

Net income

-4.79 m PLN

— YoY

EBITDA

-4.03 m PLN

— YoY

Gross margin

38.28%

— YoY

Summary

Investment thesis

Marża brutto spadła z 43,5% do 38,3%; udział produkcji kontraktowej (private label) wzrósł do ok. 70% przychodów.
Przepływy operacyjne wyniosły −3,2 mln zł, a gotówka spadła z 3,4 mln zł do 0,3 mln zł.
Kapitał własny spadł o połowę do 4,9 mln zł (ok. 7% kapitału zakładowego), a spółka korzysta z pożyczki 1,5 mln zł od Boryszew S.A. do 30.09.2026.
Audytor wskazał ryzyko kontynuacji działalności i utraty płynności jako kluczowe sprawy badania.

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Financials

BETA

FY 2025

ONO · FY 2025

Metric	FY 2025	FY 2024	Δ YoY	Value type	Segment	Conf.

Revenue	11,931	—	—	reported	—	1.00
Gross profit	4,567	—	—	reported	—	1.00
EBITDA	-4,026	—	—	derived	—	0.90
EBIT	-4,482	—	—	reported	—	1.00
EBT	-4,769	—	—	reported	—	1.00
Net income	-4,793	—	—	reported	—	1.00
EPS (basic) (PLN)	-0.07	—	—	reported	—	1.00
D&A	456	—	—	reported	—	1.00
Interest expense	215	—	—	reported	—	1.00
Income tax	24	—	—	reported	—	1.00

Gross margin	38.28%	—	—	derived	—	0.95
EBITDA margin	-33.74%	—	—	derived	—	0.90
EBIT margin	-37.57%	—	—	derived	—	0.95
Net margin	-40.18%	—	—	derived	—	0.95

Cash	314	—	—	reported	—	1.00
Total debt	2,597	—	—	reported	—	0.60
Net debt	2,283	—	—	derived	—	0.60
Equity	4,865	—	—	reported	—	1.00
Total assets	9,264	—	—	reported	—	1.00
Current assets	7,209	—	—	reported	—	1.00
Current liabilities	3,979	—	—	reported	—	1.00
Inventory	5,161	—	—	reported	—	1.00
Trade receivables	1,676	—	—	reported	—	0.80
Trade payables	798	—	—	reported	—	1.00
Goodwill	336	—	—	reported	—	1.00

CFO	-3,184	—	—	reported	—	1.00
CapEx	170	—	—	reported	—	1.00
FCF	-3,354	—	—	derived	—	0.90

ROE	-66%	—	—	derived	—	0.80

Current ratio	1.81x	—	—	derived	—	0.95
Quick ratio	0.51x	—	—	derived	—	0.95
Cash ratio	0.08x	—	—	derived	—	0.95
Interest coverage	-20.85x	—	—	derived	—	0.90

Debt / equity	0.53x	—	—	derived	—	0.60
Net debt / equity	0.47x	—	—	derived	—	0.60

Revenue growth (YoY)	11.58%	—	—	derived	—	1.00
EBIT growth (YoY)	27.3%	—	—	derived	—	0.90
Net income growth (YoY)	17.32%	—	—	derived	—	0.90

FY 2025 · Δ YoY

Revenue

11,931 —

FY 2024: —

Gross profit

4,567 —

FY 2024: —

EBITDA

-4,026 —

FY 2024: —

EBIT

-4,482 —

FY 2024: —

EBT

-4,769 —

FY 2024: —

Net income

-4,793 —

FY 2024: —

EPS (basic) (PLN)

-0.07 —

FY 2024: —

D&A

456 —

FY 2024: —

Interest expense

215 —

FY 2024: —

Income tax

24 —

FY 2024: —

Gross margin

38.28% —

FY 2024: —

EBITDA margin

-33.74% —

FY 2024: —

EBIT margin

-37.57% —

FY 2024: —

Net margin

-40.18% —

FY 2024: —

Cash

314 —

FY 2024: —

Total debt

2,597 —

FY 2024: —

Net debt

2,283 —

FY 2024: —

Equity

4,865 —

FY 2024: —

Total assets

9,264 —

FY 2024: —

Current assets

7,209 —

FY 2024: —

Current liabilities

3,979 —

FY 2024: —

Inventory

5,161 —

FY 2024: —

Trade receivables

1,676 —

FY 2024: —

Trade payables

798 —

FY 2024: —

Goodwill

336 —

FY 2024: —

CFO

-3,184 —

FY 2024: —

CapEx

170 —

FY 2024: —

FCF

-3,354 —

FY 2024: —

ROE

-66% —

FY 2024: —

Current ratio

1.81x —

FY 2024: —

Quick ratio

0.51x —

FY 2024: —

Cash ratio

0.08x —

FY 2024: —

Interest coverage

-20.85x —

FY 2024: —

Debt / equity

0.53x —

FY 2024: —

Net debt / equity

0.47x —

FY 2024: —

Revenue growth (YoY)

11.58% —

FY 2024: —

EBIT growth (YoY)

27.3% —

FY 2024: —

Net income growth (YoY)

17.32% —

FY 2024: —