FY 2025 report
Stalprodukt to gigant bilansowy (kapitał własny 3,7 mld zł, 79% sumy bilansowej, gotówka 871 mln zł) z bardzo niską rentownością: w 2025 r. strata operacyjna 62,5 mln zł i strata netto 53,0 mln zł przy przychodach 3,74 mld zł.
Sentiment
Cautious
No guidance change
Coming soon
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STP
FY 2025 report
Revenue
3.74 bn PLN
— YoY
Net income
-50.07 m PLN
— YoY
EBITDA
116.9 m PLN
— YoY
FCF
23.3 m PLN
— YoY
Summary
Investment thesis
- EBITDA spadła o 45% do 116,9 mln zł, a CFO z 245,7 do 87,8 mln zł — pogorszenie jest widoczne nie tylko w księgach, ale i w gotówce.
- Segment Cynku (54% przychodów) zarobił 13,3 mln zł wobec 129,2 mln zł rok wcześniej; zarząd wskazuje słaby dolar, niskie premie przerobowe i wysokie ceny energii oraz ryzyka po likwidacji kopalni Olkusz-Pomorzany.
- Segment Blach zmaga się z importem z Chin i spadkiem cen blach transformatorowych (przychody -9,6%), choć wynik segmentu w tabelach wzrósł; Segment Profili wrócił do małego plusu.
- Zarząd wydaje na dekarbonizację (fotowoltaika, zielony wodór, kotły gazowo-elektryczne) i budownictwo komercyjne w Krakowie, utrzymując wysoką płynność i niskie zadłużenie — to bufor, który pozwala przeczekać słabszy cykl.
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Financials
BETA Data may contain errors — check the source report to confirm.
STP · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Group has filter matches — stays expanded | ||||||
| Revenue | 3,737.37 | — | — | reported | — | 1.00 |
| EBITDA | 116.9 | — | — | reported | — | 1.00 |
| EBIT | -62.51 | — | — | reported | — | 1.00 |
| EBT | -42.98 | — | — | reported | — | 1.00 |
| Net income | -50.07 | — | — | reported | — | 1.00 |
| EPS (basic) (PLN) | -9.82 | — | — | reported | — | 1.00 |
| EPS (diluted) (PLN) | -10.42 | — | — | reported | — | 1.00 |
| D&A | 179.4 | — | — | derived | — | 0.80 |
| Shares (basic) (m units) | 5.09 | — | — | reported | — | 1.00 |
| Group has filter matches — stays expanded | ||||||
| EBITDA margin | 3.13% | — | — | derived | — | 0.95 |
| EBIT margin | -1.67% | — | — | derived | — | 0.95 |
| Net margin | -1.34% | — | — | derived | — | 0.95 |
| Group has filter matches — stays expanded | ||||||
| Cash | 871 | — | — | reported | — | 1.00 |
| Equity | 3,704.93 | — | — | reported | — | 1.00 |
| Total assets | 4,709.54 | — | — | reported | — | 1.00 |
| Working capital | 1,877.6 | — | — | derived | — | 1.00 |
| Current assets | 2,489.3 | — | — | reported | — | 0.80 |
| Current liabilities | 611.69 | — | — | reported | — | 1.00 |
| Non-current liabilities | 392.92 | — | — | reported | — | 1.00 |
| Group has filter matches — stays expanded | ||||||
| CFO | 87.83 | — | — | reported | — | 1.00 |
| CapEx | 64.5 | — | — | reported | — | 0.90 |
| FCF | 23.3 | — | — | derived | — | 0.80 |
| FCF conversion | 19.9% | — | — | derived | — | 0.80 |
| CFO conversion | 75.1% | — | — | derived | — | 0.90 |
| Group has filter matches — stays expanded | ||||||
| Current ratio | 4.1x | — | — | reported | — | 1.00 |
| Quick ratio | 2.4x | — | — | reported | — | 1.00 |
| Group has filter matches — stays expanded | ||||||
| Revenue growth (YoY) | -2.52% | — | — | derived | — | 0.95 |
| EBITDA growth (YoY) | -45.5% | — | — | derived | — | 0.95 |
| EBIT growth (YoY) | -304.8% | — | — | derived | — | 0.95 |
| Net income growth (YoY) | -266.4% | — | — | derived | — | 0.95 |
| EPS growth (YoY) | -256.4% | — | — | derived | — | 0.95 |
| EBITDA margin Δ (YoY) | -2.46 pp | — | — | derived | — | 0.90 |
| EBIT margin Δ (YoY) | -2.47 pp | — | — | derived | — | 0.90 |
| Net margin Δ (YoY) | -2.13 pp | — | — | derived | — | 0.90 |
FY 2025 · Δ YoY
Group has filter matches — stays expanded
Revenue
3,737.37
—
3,737.37
—
- FY 2024
- —
EBITDA
116.9
—
116.9
—
- FY 2024
- —
EBIT
-62.51
—
-62.51
—
- FY 2024
- —
EBT
-42.98
—
-42.98
—
- FY 2024
- —
Net income
-50.07
—
-50.07
—
- FY 2024
- —
EPS (basic)
(PLN)
-9.82
—
-9.82
—
- FY 2024
- —
EPS (diluted)
(PLN)
-10.42
—
-10.42
—
- FY 2024
- —
D&A
179.4
—
179.4
—
- FY 2024
- —
Shares (basic)
(m units)
5.09
—
5.09
—
- FY 2024
- —
Group has filter matches — stays expanded
EBITDA margin
3.13%
—
3.13%
—
- FY 2024
- —
EBIT margin
-1.67%
—
-1.67%
—
- FY 2024
- —
Net margin
-1.34%
—
-1.34%
—
- FY 2024
- —
Group has filter matches — stays expanded
Cash
871
—
871
—
- FY 2024
- —
Equity
3,704.93
—
3,704.93
—
- FY 2024
- —
Total assets
4,709.54
—
4,709.54
—
- FY 2024
- —
Working capital
1,877.6
—
1,877.6
—
- FY 2024
- —
Current assets
2,489.3
—
2,489.3
—
- FY 2024
- —
Current liabilities
611.69
—
611.69
—
- FY 2024
- —
Non-current liabilities
392.92
—
392.92
—
- FY 2024
- —
Group has filter matches — stays expanded
CFO
87.83
—
87.83
—
- FY 2024
- —
CapEx
64.5
—
64.5
—
- FY 2024
- —
FCF
23.3
—
23.3
—
- FY 2024
- —
FCF conversion
19.9%
—
19.9%
—
- FY 2024
- —
CFO conversion
75.1%
—
75.1%
—
- FY 2024
- —
Group has filter matches — stays expanded
Current ratio
4.1x
—
4.1x
—
- FY 2024
- —
Quick ratio
2.4x
—
2.4x
—
- FY 2024
- —
Group has filter matches — stays expanded
Revenue growth (YoY)
-2.52%
—
-2.52%
—
- FY 2024
- —
EBITDA growth (YoY)
-45.5%
—
-45.5%
—
- FY 2024
- —
EBIT growth (YoY)
-304.8%
—
-304.8%
—
- FY 2024
- —
Net income growth (YoY)
-266.4%
—
-266.4%
—
- FY 2024
- —
EPS growth (YoY)
-256.4%
—
-256.4%
—
- FY 2024
- —
EBITDA margin Δ (YoY)
-2.46 pp
—
-2.46 pp
—
- FY 2024
- —
EBIT margin Δ (YoY)
-2.47 pp
—
-2.47 pp
—
- FY 2024
- —
Net margin Δ (YoY)
-2.13 pp
—
-2.13 pp
—
- FY 2024
- —