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IZOBLOK SUMMARISES 1Q 2025

After the first quarter of the 2025 financial year covering the period from 01.01.2025 to 31.03.2025, the IZOBLOK Group generated operating income of PLN 70,975K. The Group reported an operating loss of PLN 4,618K. Consolidated EBITDA amounted to PLN – 1,318K.

At the unconsolidated level, income amounted to PLN 35,914K, which means an increase of 12.5% compared to the first half of 2024. However, the company incurred an operating loss of PLN 2,181K and its EBITDA dropped to PLN -280K.

Referring to the financial results in the reporting period, Przemysław Skrzydlak, CEO, said:

“The operating results of the IZOBLOK SA Group in the first quarter of the current financial year show how much the cumulative increases in energy and wage costs affect the operating profitability. In accordance with the prudence principle, the company also created reserves for projects that were stopped by customers before the planned end of production due to the unclear situation regarding the introduction of customs tariffs.

Currently, the process of revising commercial terms with customers is underway, which due to its specificity is often a process delayed in relation to the current increase in costs. Talks are also underway regarding obtaining due compensation for projects completed before the planned EOP.

The general increase in costs, inflation and high volatility of energy prices effectively inhibit the growth of operating profitability despite the significant utilisation of production capacity.

The Management Board is focused primarily on improving operational efficiency and further developing cooperation on global projects with selected partners in the United States and China. The company is currently launching serial production of projects, reported earlier in current reports.

The Management Board expects that after the weak results of the first quarter and after the completion of corrective actions, there will be a noticeable improvement in the company’s results.

During the reporting period, IZOBLOK did not record any delayed payments from contractors, and the performance of existing contracts proceeded with some deviation from the original assumptions.

Due to the continuing high volatility of the environment, changes in expectations in subsequent reporting periods cannot be ruled out.”