FY 2025 report
Izolacja-Jarocin to producent pap i mas hydroizolacyjnych z Jarocina; od września 2025 r. kontroluje go Selena Industrial Technologies (57,8% kapitału), należąca do grupy Selena FM.
Sentiment
Cautious
No guidance change
IZO
FY 2025 report
Revenue
27.11 m PLN
— YoY
Net income
-59 k PLN
— YoY
EBITDA
490 k PLN
— YoY
Gross margin
28.16%
— YoY
Summary
Investment thesis
- Rok 2025 zamknięto stratą netto 59 tys. zł wobec zysku 1,32 mln zł rok wcześniej; przychody spadły o 19,7% do 27,1 mln zł, a EBIT zszedł do −24 tys. zł.
- Bilans jest bardzo bezpieczny: gotówka 4,6 mln zł, brak kredytów, kapitał własny 18,3 mln zł i wskaźnik bieżącej płynności 7,2x — to główny argument za spółką.
- Teza zależy od efektów zmian właścicielskich i zarządczych (odwołanie prezesa w kwietniu 2026 r., delegowanie członka rady nadzorczej do funkcji prezesa), a nie od poprawy rynku, która na razie nie następuje.
- Zarząd nie podaje prognoz ani konkretnych celów na 2026 r. — wskazuje tylko plan restrukturyzacji organizacji i procesów oraz ryzyko powrotu do finansowania obrotowego.
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Financials
BETA
IZO · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 27,113 | — | — | reported | — | 1.00 |
| Gross profit | 7,634 | — | — | reported | — | 1.00 |
| EBITDA | 490 | — | — | derived | — | 0.95 |
| EBIT | -24 | — | — | reported | — | 1.00 |
| EBT | 32 | — | — | reported | — | 1.00 |
| Net income | -59 | — | — | reported | — | 1.00 |
| EPS (basic) (PLN) | -0.02 | — | — | reported | — | 1.00 |
| D&A | 514 | — | — | reported | — | 1.00 |
| Interest expense | 29 | — | — | reported | — | 1.00 |
| Income tax | 91 | — | — | reported | — | 1.00 |
| Shares (basic) (m units) | 3.8 | — | — | reported | — | 1.00 |
| Gross margin | 28.16% | — | — | derived | — | 0.95 |
| EBITDA margin | 1.81% | — | — | derived | — | 0.95 |
| EBIT margin | -0.09% | — | — | derived | — | 0.95 |
| Net margin | -0.22% | — | — | derived | — | 0.95 |
| Cash | 4,575 | — | — | reported | — | 1.00 |
| Equity | 18,336 | — | — | reported | — | 1.00 |
| Total assets | 22,707 | — | — | reported | — | 1.00 |
| Working capital | 13,029 | — | — | derived | — | 0.95 |
| Current assets | 15,119 | — | — | reported | — | 1.00 |
| Current liabilities | 2,090 | — | — | reported | — | 1.00 |
| Inventory | 7,781 | — | — | reported | — | 1.00 |
| Trade receivables | 2,677 | — | — | reported | — | 0.80 |
| Tangible equity | 18,336 | — | — | derived | — | 0.80 |
| CFO | 950 | — | — | reported | — | 1.00 |
| CapEx | 187 | — | — | reported | — | 1.00 |
| FCF | 763 | — | — | derived | — | 0.95 |
| FCF conversion | 155.71% | — | — | derived | — | 0.95 |
| CFO conversion | 193.88% | — | — | derived | — | 0.95 |
| ROE | -0.32% | — | — | derived | — | 0.95 |
| ROA | -0.25% | — | — | derived | — | 0.95 |
| ROCE | -0.12% | — | — | derived | — | 0.95 |
| Current ratio | 7.23x | — | — | derived | — | 0.95 |
| Quick ratio | 3.51x | — | — | derived | — | 0.95 |
| Cash ratio | 2.19x | — | — | derived | — | 0.95 |
| Revenue growth (YoY) | -19.71% | — | — | derived | — | 0.95 |
| EBITDA growth (YoY) | -81.03% | — | — | derived | — | 0.95 |
| EBIT growth (YoY) | -101.35% | — | — | derived | — | 0.95 |
| Net income growth (YoY) | -104.46% | — | — | derived | — | 0.95 |
| Gross margin Δ (YoY) | -1.21 pp | — | — | derived | — | 0.95 |
| EBITDA margin Δ (YoY) | -5.84 pp | — | — | derived | — | 0.95 |
| EBIT margin Δ (YoY) | -5.37 pp | — | — | derived | — | 0.95 |
| Net margin Δ (YoY) | -4.14 pp | — | — | derived | — | 0.95 |
FY 2025 · Δ YoY
Revenue
27,113
—
27,113
—
- FY 2024
- —
Gross profit
7,634
—
7,634
—
- FY 2024
- —
EBITDA
490
—
490
—
- FY 2024
- —
EBIT
-24
—
-24
—
- FY 2024
- —
EBT
32
—
32
—
- FY 2024
- —
Net income
-59
—
-59
—
- FY 2024
- —
EPS (basic)
(PLN)
-0.02
—
-0.02
—
- FY 2024
- —
D&A
514
—
514
—
- FY 2024
- —
Interest expense
29
—
29
—
- FY 2024
- —
Income tax
91
—
91
—
- FY 2024
- —
Shares (basic)
(m units)
3.8
—
3.8
—
- FY 2024
- —
Gross margin
28.16%
—
28.16%
—
- FY 2024
- —
EBITDA margin
1.81%
—
1.81%
—
- FY 2024
- —
EBIT margin
-0.09%
—
-0.09%
—
- FY 2024
- —
Net margin
-0.22%
—
-0.22%
—
- FY 2024
- —
Cash
4,575
—
4,575
—
- FY 2024
- —
Equity
18,336
—
18,336
—
- FY 2024
- —
Total assets
22,707
—
22,707
—
- FY 2024
- —
Working capital
13,029
—
13,029
—
- FY 2024
- —
Current assets
15,119
—
15,119
—
- FY 2024
- —
Current liabilities
2,090
—
2,090
—
- FY 2024
- —
Inventory
7,781
—
7,781
—
- FY 2024
- —
Trade receivables
2,677
—
2,677
—
- FY 2024
- —
Tangible equity
18,336
—
18,336
—
- FY 2024
- —
CFO
950
—
950
—
- FY 2024
- —
CapEx
187
—
187
—
- FY 2024
- —
FCF
763
—
763
—
- FY 2024
- —
FCF conversion
155.71%
—
155.71%
—
- FY 2024
- —
CFO conversion
193.88%
—
193.88%
—
- FY 2024
- —
ROE
-0.32%
—
-0.32%
—
- FY 2024
- —
ROA
-0.25%
—
-0.25%
—
- FY 2024
- —
ROCE
-0.12%
—
-0.12%
—
- FY 2024
- —
Current ratio
7.23x
—
7.23x
—
- FY 2024
- —
Quick ratio
3.51x
—
3.51x
—
- FY 2024
- —
Cash ratio
2.19x
—
2.19x
—
- FY 2024
- —
Revenue growth (YoY)
-19.71%
—
-19.71%
—
- FY 2024
- —
EBITDA growth (YoY)
-81.03%
—
-81.03%
—
- FY 2024
- —
EBIT growth (YoY)
-101.35%
—
-101.35%
—
- FY 2024
- —
Net income growth (YoY)
-104.46%
—
-104.46%
—
- FY 2024
- —
Gross margin Δ (YoY)
-1.21 pp
—
-1.21 pp
—
- FY 2024
- —
EBITDA margin Δ (YoY)
-5.84 pp
—
-5.84 pp
—
- FY 2024
- —
EBIT margin Δ (YoY)
-5.37 pp
—
-5.37 pp
—
- FY 2024
- —
Net margin Δ (YoY)
-4.14 pp
—
-4.14 pp
—
- FY 2024
- —