ECK EUROSNACK NewConnect · Annual · publ. May 29, 2026

FY 2025 report

Producent słonych przekąsek i biszkoptów (marki własne + private label) rosnący dwucyfrowo na sprzedaży (+10,76% r/r)

Sentiment

Neutral No guidance change

Website

ECK FY 2025 report

Revenue

168.98 m PLN

— YoY

Net income

11.37 m PLN

— YoY

EBITDA

21.44 m PLN

— YoY

FCF

8.03 m PLN

— YoY

Summary

Investment thesis

2025 to rok inwestycyjny: nowy zakład produkcyjny uruchomiony w maju 2025 r. zwiększa moce, ale chwilowo zjada gotówkę i marże
Zysk netto spadł o 12,8% r/r, a jakość tego zysku osłabła — OCF spadł o 35%, silniej niż zysk
Bilans pozostaje bezpieczny pod względem dźwigni (dług/kapitał 124,7%, w poprawie), ale płynność bieżąca i szybka są poniżej zalecanych norm
Bardzo skoncentrowany akcjonariat (free float 9,74%) ogranicza płynność akcji i wpływ drobnych inwestorów

Read the full analysis

Financial data is open to everyone. The full analysis — management verdict, commentary, risks, and the full narrative — is available after you sign up or log in.

Financials

BETA

FY 2025

ECK · FY 2025

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

Revenue	168.98	—	—	reported	—	1.00
EBITDA	21.44	—	—	derived	—	0.90
EBIT	15.94	—	—	reported	—	1.00
EBT	13.88	—	—	reported	—	1.00
Net income	11.37	—	—	reported	—	1.00
D&A	5.51	—	—	reported	—	1.00
Shares (basic) (m units)	37.74	—	—	reported	—	1.00

EBITDA margin	12.69%	—	—	derived	—	0.85
EBIT margin	9.43%	—	—	derived	—	0.90
Net margin	6.73%	—	—	derived	—	0.90
D&A margin	3.26%	—	—	derived	—	0.85

Cash	1.11	—	—	reported	—	1.00
Equity	38.11	—	—	reported	—	1.00
Total assets	85.63	—	—	reported	—	1.00
Working capital	-1.63	—	—	derived	—	0.90
Current assets	30.59	—	—	reported	—	1.00
Current liabilities	32.22	—	—	reported	—	1.00

CFO	14.58	—	—	reported	—	1.00
CapEx	6.55	—	—	reported	—	0.85
FCF	8.03	—	—	derived	—	0.85
FCF conversion	37.47%	—	—	derived	—	0.75
CFO conversion	68.01%	—	—	derived	—	0.80

Current ratio	0.92x	—	—	reported	—	0.90
Quick ratio	0.45x	—	—	reported	—	0.90

Revenue growth (YoY)	10.76%	—	—	derived	—	1.00
EBITDA growth (YoY)	-4.02%	—	—	derived	—	0.85
EBIT growth (YoY)	-11.55%	—	—	derived	—	0.90
Net income growth (YoY)	-12.8%	—	—	derived	—	1.00
FCF growth (YoY)	-63.13%	—	—	derived	—	0.75
Net margin Δ (YoY)	-1.82 pp	—	—	derived	—	0.85

FY 2025 · Δ YoY

Revenue

168.98 —

FY 2024: —

EBITDA

21.44 —

FY 2024: —

EBIT

15.94 —

FY 2024: —

EBT

13.88 —

FY 2024: —

Net income

11.37 —

FY 2024: —

D&A

5.51 —

FY 2024: —

Shares (basic) (m units)

37.74 —

FY 2024: —

EBITDA margin

12.69% —

FY 2024: —

EBIT margin

9.43% —

FY 2024: —

Net margin

6.73% —

FY 2024: —

D&A margin

3.26% —

FY 2024: —

Cash

1.11 —

FY 2024: —

Equity

38.11 —

FY 2024: —

Total assets

85.63 —

FY 2024: —

Working capital

-1.63 —

FY 2024: —

Current assets

30.59 —

FY 2024: —

Current liabilities

32.22 —

FY 2024: —

CFO

14.58 —

FY 2024: —

CapEx

6.55 —

FY 2024: —

FCF

8.03 —

FY 2024: —

FCF conversion

37.47% —

FY 2024: —

CFO conversion

68.01% —

FY 2024: —

Current ratio

0.92x —

FY 2024: —

Quick ratio

0.45x —

FY 2024: —

Revenue growth (YoY)

10.76% —

FY 2024: —

EBITDA growth (YoY)

-4.02% —

FY 2024: —

EBIT growth (YoY)

-11.55% —

FY 2024: —

Net income growth (YoY)

-12.8% —

FY 2024: —

FCF growth (YoY)

-63.13% —

FY 2024: —

Net margin Δ (YoY)

-1.82 pp —

FY 2024: —