DIV DI VOLIO NewConnect · Quarterly · publ. May 14, 2026

Q1 2026 report

Przychody wzrosły o 422,61% r/r do 7,33 mln zł, napędzane rozwojem sprzedaży pod marką di volio nabytą w 2025 r.

Sentiment

Positive No guidance change

Website

DIV Q1 2026 report

Revenue

7,326,329 PLN

— YoY

Net income

366,259 PLN

— YoY

EBITDA

511,293 PLN

— YoY

Gross margin

27.44%

— YoY

Summary

Investment thesis

Marże spadają na każdym poziomie rachunku wyników (marża EBITDA z 11,62% do 6,98%) mimo dynamicznego wzrostu skali
Płynność gotówkowa mocno osłabiona r/r — wskaźnik gotówkowy z 3,42x do 0,21x, gotówka spadła o 73,25%
Struktura właścicielska silnie skoncentrowana wokół grupy Hegen, która finansuje spółkę i jest stroną kluczowych transakcji kwartału
OCF pozostaje dodatni i pokrywa niemal cały zysk netto, ale konwersja gotówkowa (OCF/zysk netto) osłabła r/r z ok. 320% do ok. 89%

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Financials

BETA

Q1 2026

DIV · Q1 2026

Metric	Q1 2026	Q1 2025	Δ YoY	Value type	Segment	Conf.

Revenue	7,326,329	—	—	reported	—	1.00
Gross profit	2,010,162	—	—	reported	—	0.70
EBITDA	511,293	—	—	reported	—	1.00
EBIT	393,676	—	—	reported	—	1.00
EBT	397,764	—	—	reported	—	1.00
Net income	366,259	—	—	reported	—	1.00
D&A	117,618	—	—	reported	—	1.00
Interest expense	4.64	—	—	reported	—	1.00

Gross margin	27.44%	—	—	reported	—	0.70
EBITDA margin	6.98%	—	—	reported	—	1.00
EBIT margin	5.37%	—	—	reported	—	1.00
Net margin	5%	—	—	reported	—	1.00

Cash	569,714	—	—	reported	—	1.00
Equity	5,237,222	—	—	reported	—	1.00
Total assets	7,988,541	—	—	reported	—	1.00
Working capital	748,601	—	—	reported	—	0.80
Current assets	3,499,920	—	—	reported	—	1.00
Current liabilities	2,751,319	—	—	reported	—	1.00
Goodwill	3,823,600	—	—	reported	—	1.00

CFO	327,757	—	—	reported	—	1.00
CapEx	0	—	—	reported	—	1.00
FCF	327,757	—	—	reported	—	1.00
FCF conversion	64.1%	—	—	reported	—	0.90
CFO conversion	64.1%	—	—	reported	—	0.90
Dividends paid	0	—	—	reported	—	1.00

Current ratio	1.27x	—	—	reported	—	1.00
Cash ratio	0.21x	—	—	reported	—	1.00

Revenue growth (YoY)	422.61%	—	—	reported	—	1.00
EBITDA growth (YoY)	213.89%	—	—	reported	—	1.00
EBIT growth (YoY)	170.78%	—	—	reported	—	1.00
Net income growth (YoY)	183.35%	—	—	reported	—	1.00
EBITDA margin Δ (YoY)	-4.64 pp	—	—	reported	—	1.00
Net margin Δ (YoY)	-4.22 pp	—	—	reported	—	1.00

Q1 2026 · Δ YoY

Revenue

7,326,329 —

Q1 2025: —

Gross profit

2,010,162 —

Q1 2025: —

EBITDA

511,293 —

Q1 2025: —

EBIT

393,676 —

Q1 2025: —

EBT

397,764 —

Q1 2025: —

Net income

366,259 —

Q1 2025: —

D&A

117,618 —

Q1 2025: —

Interest expense

4.64 —

Q1 2025: —

Gross margin

27.44% —

Q1 2025: —

EBITDA margin

6.98% —

Q1 2025: —

EBIT margin

5.37% —

Q1 2025: —

Net margin

5% —

Q1 2025: —

Cash

569,714 —

Q1 2025: —

Equity

5,237,222 —

Q1 2025: —

Total assets

7,988,541 —

Q1 2025: —

Working capital

748,601 —

Q1 2025: —

Current assets

3,499,920 —

Q1 2025: —

Current liabilities

2,751,319 —

Q1 2025: —

Goodwill

3,823,600 —

Q1 2025: —

CFO

327,757 —

Q1 2025: —

CapEx

0 —

Q1 2025: —

FCF

327,757 —

Q1 2025: —

FCF conversion

64.1% —

Q1 2025: —

CFO conversion

64.1% —

Q1 2025: —

Dividends paid

0 —

Q1 2025: —

Current ratio

1.27x —

Q1 2025: —

Cash ratio

0.21x —

Q1 2025: —

Revenue growth (YoY)

422.61% —

Q1 2025: —

EBITDA growth (YoY)

213.89% —

Q1 2025: —

EBIT growth (YoY)

170.78% —

Q1 2025: —

Net income growth (YoY)

183.35% —

Q1 2025: —

EBITDA margin Δ (YoY)

-4.64 pp —

Q1 2025: —

Net margin Δ (YoY)

-4.22 pp —

Q1 2025: —