Q1 2026 report
Zysk netto (943 tys. zł) pochodzi niemal wyłącznie z jednorazowej, niegotówkowej rewaluacji inwestycji kapitałowych (+1 348 tys. zł), nie z działalności operacyjnej
Sentiment
Neutral
No guidance change
SHG
Q1 2026 report
Revenue
2,541 k PLN
— YoY
Net income
943 k PLN
— YoY
EBITDA
-3 k PLN
— YoY
FCF
-118 k PLN
— YoY
Summary
Investment thesis
- Wynik operacyjny jest ujemny (EBIT -4 tys. zł) przy spadku przychodów o 17,6% r/r
- Bilans jest bardzo bezpieczny: dług netto śladowy (2 089 tys. zł) wobec kapitału własnego 33 783-38 318 tys. zł, płynność bieżąca 4,4x
- Segment tekstylny generuje rosnącą stratę operacyjną, ciągnąc w dół wynik grupy
- Znacząca koncentracja przychodów jednostki dominującej na jednym, powiązanym kliencie stanowi ryzyko dla kontynuacji działalności w obecnym modelu
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Financials
BETA
SHG · Q1 2026
| Metric | Q1 2026 | Q1 2025 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 2,541 | — | — | reported | — | 1.00 |
| EBITDA | -3 | — | — | derived | — | 0.90 |
| EBIT | -4 | — | — | reported | — | 1.00 |
| EBT | 982 | — | — | reported | — | 1.00 |
| Net income | 943 | — | — | reported | — | 1.00 |
| EPS (basic) (PLN) | 0 | — | — | reported | — | 0.40 |
| D&A | 1 | — | — | reported | — | 1.00 |
| Interest expense | 364 | — | — | reported | — | 0.60 |
| Shares (basic) (m units) | 108.94 | — | — | reported | — | 1.00 |
| EBITDA margin | -0.1% | — | — | derived | — | 0.80 |
| EBIT margin | -0.2% | — | — | derived | — | 0.90 |
| Net margin | 37.1% | — | — | derived | — | 0.90 |
| Cash | 815 | — | — | reported | — | 1.00 |
| Total debt | 2,904 | — | — | reported | — | 0.90 |
| Net debt | 2,089 | — | — | derived | — | 0.80 |
| Equity | 33,783 | — | — | reported | — | 0.90 |
| Total assets | 46,167 | — | — | reported | — | 1.00 |
| Working capital | 19,703 | — | — | derived | — | 0.90 |
| Current assets | 25,448 | — | — | reported | — | 1.00 |
| Current liabilities | 5,745 | — | — | reported | — | 1.00 |
| Goodwill | 0 | — | — | reported | — | 1.00 |
| CFO | -118 | — | — | reported | — | 0.90 |
| CapEx | 0 | — | — | reported | — | 0.70 |
| FCF | -118 | — | — | derived | — | 0.80 |
| Current ratio | 4.43x | — | — | derived | — | 0.90 |
| Debt / equity | 0.09x | — | — | derived | — | 0.80 |
| Net debt / equity | 0.06x | — | — | derived | — | 0.80 |
| Revenue growth (YoY) | -17.6% | — | — | derived | — | 0.95 |
| EBIT growth (YoY) | -103.7% | — | — | derived | — | 0.80 |
| Net income growth (YoY) | 1191.8% | — | — | derived | — | 0.70 |
Q1 2026 · Δ YoY
Revenue
2,541
—
2,541
—
- Q1 2025
- —
EBITDA
-3
—
-3
—
- Q1 2025
- —
EBIT
-4
—
-4
—
- Q1 2025
- —
EBT
982
—
982
—
- Q1 2025
- —
Net income
943
—
943
—
- Q1 2025
- —
EPS (basic)
(PLN)
0
—
0
—
- Q1 2025
- —
D&A
1
—
1
—
- Q1 2025
- —
Interest expense
364
—
364
—
- Q1 2025
- —
Shares (basic)
(m units)
108.94
—
108.94
—
- Q1 2025
- —
EBITDA margin
-0.1%
—
-0.1%
—
- Q1 2025
- —
EBIT margin
-0.2%
—
-0.2%
—
- Q1 2025
- —
Net margin
37.1%
—
37.1%
—
- Q1 2025
- —
Cash
815
—
815
—
- Q1 2025
- —
Total debt
2,904
—
2,904
—
- Q1 2025
- —
Net debt
2,089
—
2,089
—
- Q1 2025
- —
Equity
33,783
—
33,783
—
- Q1 2025
- —
Total assets
46,167
—
46,167
—
- Q1 2025
- —
Working capital
19,703
—
19,703
—
- Q1 2025
- —
Current assets
25,448
—
25,448
—
- Q1 2025
- —
Current liabilities
5,745
—
5,745
—
- Q1 2025
- —
Goodwill
0
—
0
—
- Q1 2025
- —
CFO
-118
—
-118
—
- Q1 2025
- —
CapEx
0
—
0
—
- Q1 2025
- —
FCF
-118
—
-118
—
- Q1 2025
- —
Current ratio
4.43x
—
4.43x
—
- Q1 2025
- —
Debt / equity
0.09x
—
0.09x
—
- Q1 2025
- —
Net debt / equity
0.06x
—
0.06x
—
- Q1 2025
- —
Revenue growth (YoY)
-17.6%
—
-17.6%
—
- Q1 2025
- —
EBIT growth (YoY)
-103.7%
—
-103.7%
—
- Q1 2025
- —
Net income growth (YoY)
1191.8%
—
1191.8%
—
- Q1 2025
- —