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IZOBLOK SUMMARISES 3Q 2025
During the first nine months of the 2025 financial year, the IZOBLOK Group generated operating income of PLN 217,764 thousand. The consolidated operating result closed at PLN -482 thousand, while consolidated EBITDA for the reporting period amounted to PLN 10,661 thousand.
At the unconsolidated level, income reached PLN 107,939 thousand, which represents an increase of 9.9% compared to the Q3 2024. The Company reported an operating profit of PLN 2,674 thousand, and its EBITDA reached PLN 8,550 thousand.
Referring to the financial results in the reporting period, Przemysław Skrzydlak, CEO, stated:
“The operating results of the IZOBLOK Group for the first three quarters of the current financial year show a positive trend in the Group’s efficiency at the operating and EBITDA levels. Significant investments made in recent periods are bringing the expected results in the form of a growing operating margin, which should reach the assumed levels in the coming periods.
Despite the crisis in the automotive industry, IZOBLOK has utilised its production capacity, which is the result, among other things, of the launch of new projects that entered production with a considerable delay.
In line with its assumptions, IZOBLOK has revised and agreed new commercial terms with its customers, which had a positive impact on operating profitability in the third quarter.
The Management Board expects that after the weak results of the first half of the year, there will be a significant improvement in the Company’s results in the second half of the year, particularly in the last quarter of 2025.
During the reporting period, IZOBLOK did not record any delayed payments from contractors, and the execution of existing contracts proceeded with an insignificant deviation from the original assumptions.
Due to the continuing high volatility of the environment, a change in expectations in subsequent reporting periods cannot be ruled out.”
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IZOBLOK SUMMARISES 1H 2025
After the first half of the 2025 financial year, covering the period from 1 January 2025 to 31 June 2025, the IZOBLOK Group generated operating income of PLN 148,553K. The IB Group reported an operating loss of PLN 3,412K. Consolidated EBITDA amounted to PLN 3,693K.
At the unconsolidated level, income reached PLN 75,200K, which represents an increase of 14.0% compared to the first half of 2024. The Company reported an operating profit of PLN 281K and its EBITDA reached PLN 4,031K.
Referring to the financial results in the reporting period, Przemysław Skrzydlak, CEO, said:
“The operating results of the IZOBLOK Group in the first half 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 created provisions for projects that were halted by customers before the planned completion of production due to the unclear situation regarding the introduction of customs tariffs. The delayed launch of new projects, which account for a significant share of the company’s revenue, also had a negative impact on profitability.
The company has revised and agreed new commercial terms with its customers, which should have a positive impact on operating profitability in the second half of the year.
The overall increase in costs and high volatility of market conditions are effectively hampering the growth of operating profitability, despite the significant utilisation of production capacity.
The Management Board expects that, after the poor results of the first half of the year and the completion of corrective measures, the company’s results will improve in the second half of the year.
During the reporting period, IZOBLOK did not record any delayed payments from contractors, and the execution of existing contracts proceeded with some deviation from the original assumptions.
Due to the continuing high volatility of the environment, a change in expectations in subsequent reporting periods cannot be ruled out.”
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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.”
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IZOBLOK SUMMARISES 3Q 2024
After three quarters of the financial year 2024, covering the period from 01.01.2024 to 30.09.2024, the IZOBLOK Group generated operating income of PLN 184.4 million, consolidated operating profit amounted to PLN 8.2 million and was PLN 3.2 million higher than consolidated operating profit in the corresponding period of the previous financial year. Consolidated EBITDA stood at PLN 16.0m, 12.8 per cent higher than in the comparative period. At the unconsolidated level, revenue amounted to PLN 98.2 million, an increase of 7.5% compared with the first half of 2022/23, standalone operating profit amounted to PLN 1.7 million, while standalone EBITDA amounted to PLN 5.7 million and net profit to PLN 2.9 million.
Referring to the financial results achieved in the reported period, Przemysław Skrzydlak, CEO, said:
“The figures for the three quarters of the financial year 2024 confirm the improvement in the Company’s operating result at the individual and consolidated level. The IZOBLOK S.A. Group, despite the crisis in the industry, is decisively accelerating strategic investments that will bring tangible effects in the future improving revenues and operating profitability, as well as increasing the security and independence of material supply.
Currently, the group’s activities are focused on the implementation and launch of numerous contracts, which the Company has previously announced in its regular reports. The market is seeing a correction in production volumes in BEVs in particular. We are noticing a trend of extending the production period of older projects, mainly for cars with classic drive.
Energy prices, wage costs, increases in service costs and the strong zloty continue to effectively impede growth in operating profitability despite increased production. Despite the not-so-good condition of the industry as a whole, IZOBLOK is developing steadily and has good growth prospects, thanks to its market position and highly diversified customer portfolio.
In the reporting period, IZOBLOK did not experience any payment bottlenecks from counterparties and the execution of existing contracts is proceeding as anticipated. Due to the continuing high volatility of the environment, a change in expectations in subsequent reporting periods cannot be ruled out “
Przemyslaw Skrzydlak
CEO IZOBLOK SA
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IZOBLOK SUMMARISES IH 2024
After two quarters of the 2024 financial year covering the period from 01.01.2024 to 30.06.2024, the IZOBLOK Group achieved operating income of PLN 126.5 million, which is an increase of 14.7% compared to the same period of the previous year. Consolidated operating profit for the first half of 2024 amounted to PLN 5.3 million and is PLN 4.8 million higher than consolidated operating profit in the same period of the previous financial year, while consolidated EBITDA amounted to PLN 10.3 million and was higher by 48.6%. At the unconsolidated level, revenues amounted to PLN 65.9 million, up 16.8% compared to the first half of 2022/23, standalone operating profit amounted to PLN 1.6 million, while standalone EBITDA was PLN 4.0 million and net profit was PLN 3.5 million.
Referring to the financial results achieved in the reporting period, Przemysław Skrzydlak, CEO, stated:
“When presenting the results of the first half of the year, the Management Board of the company draws special attention to the consolidated results of the IZOBLOK group. The results achieved by the German company in the current year clearly indicate a significant improvement in operating efficiency after difficult periods that had a negative impact on its results.
The acquisition made by IZOBLOK SA in 2016 helps to consolidate the group’s position on the European market and is a good base for carrying out projects on a global level (USA, China). Currently, the company’s activities are focused on starting numerous contracts, which the company reported earlier in its regular reports. At present, the dynamics of launching new projects is slightly decreasing, which may indicate that the market has slowed down slightly. However, in the opinion of the Management Board, the delay in starting new contracts will have an insignificant impact on the company’s operations. There is noticeable pressure on price corrections in connection with lower energy prices on the market. At the same time, the company is experiencing the negative effects of the sudden increase in remuneration costs, increases in service costs and the negative effects of the strengthening of the Polish zloty and high interest rates. Despite these factors, IZOBLOK, thanks to the large diversification of its customer portfolio, is developing stably and has good development prospects.
In the reporting period, IZOBLOK did not record any payment backlogs from its business partners, and the fulfilment of existing contracts is proceeding as planned. Due to the continuing high volatility of the environment, it is not possible to rule out changes in expectations in subsequent reporting periods.”
Przemysław Skrzydlak
CEO IZOBLOK SA
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IZOBLOK summarises IQ 2024
After the first quarter of the 2024 financial year, covering the period from January 1, 2024, to March 31, 2024, the IZOBLOK Group achieved operating revenue of PLN 62,077,500.68, with EBITDA for the reported period amounting to PLN 4,639,145.07. The gross result closed at PLN 1,525,782.06.
Referring to the financial results achieved in the reported period, Przemysław Skrzydlak, President of the Management Board, stated: “The Management Board of the Company is pleased to present the achieved results, which confirm the effective strategy implemented by the company. Currently, efforts are focused on the implementation of numerous contracts, which the company has informed about in current reports. The new contracts will result in a significant increase in utilized production capacities, which should consequently translate into good operational results. There is noticeable pressure on price adjustments in the market due to lower energy prices, while the company is experiencing negative effects from the sharp increase in wage costs, rising service costs, and the adverse effects of the strengthening of the złoty and high interest rates. Despite these factors, IZOBLOK is developing steadily thanks to a large diversification of its customer portfolio and has good development prospects.
During the reporting period, IZOBLOK did not record any payment delays from contractors, and the execution of existing contracts is proceeding as planned. Due to the ongoing high volatility of the environment, changes in expectations in subsequent reporting periods cannot be ruled out.” Przemysław Skrzydlak
CEO IZOBLOK S.A.
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IZOBLOK summarises VI Q 2022/2023
In the period of 18 months of the financial year 2022/2023, IZOBLOK Group generated operating income of PLN 387 632 thousand. Consolidated profit on operating activities amounted to PLN 16 797 thousand, while EBITDA in the reported period amounted to PLN 33 754 thousand.
“In line with the expectations of the Company Management Board, the sustained improved market condition in the automotive industry helps the Company achieve its operational objectives. Prognoses related to the market could seem to be quite good, were it not for the negative signals from the German and French markets concerning additional relief payments with electric car purchases. Some manufacturers, e. g. VW, are already seeing dropping demand for EVs, with increasing pressure on EV prices, which may negatively reflect on margins across the entire supply chain. The market is seeing pressure to correct prices in concert with lower prices of raw materials and energy; at the same time, companies, including IZOBLOK, are having to cope with new challenges such as: an extreme increase in pay costs, service costs, the strengthening of the Złoty and high interest rates. IZOBLOK, thanks to the broad diversity of its customer portfolio, is developing stably and has good perspectives of development. The Company Board expects an increase in revenue in the coming years. One of the priorities of the Board in the coming quarters will be to ensure financial resources that are necessary to implement investments, thanks to which the Company will be able to achieve the assumed investment and operational objectives.
In the reporting period, IZOBLOK had not noticed any payment difficulties from business partners, and the execution of existing contracts is going as planned. Due to the sustained high variability of the environment, a change of expectations in the coming reporting periods cannot be excluded” says Przemysław Skrzydlak, President of the Management Board of IZOBLOK S.A.
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IZOBLOK summarises V Q 2022/2023
In the period of 15 months of the financial year 2022/2023, IZOBLOK Group generated operating income of PLN 320,972 thousand. Consolidated profit on operating activities amounted to PLN 12 964 thousand, while EBITDA in the reported period amounted to PLN 27 356 thousand.
“In the opinion of the Management Board of the Company, despite the unfavourable economic situation forecast in the so-called old European Union, car production in Europe has so far not shown a downward trend. Perhaps this is the effect of a low base after the recent years of downturn. There is noticeable pressure on the market for price adjustments due to lower raw material and energy prices, as indicated by deflation of producer prices – at least in some market segments. In cooperation with the contractors, we make appropriate adjustments so that the distribution of the risk of volatility in energy and raw material costs is rational and fair. IZOBLOK is one of those companies in the market that is accelerating again after a deep crisis and has good growth prospects. IZOBLOK is a market leader that expects significant revenue growth over the next three years. One of the priorities of the management’s activities in the coming quarters is to secure the financial resources necessary to make the investments that will enable the company to achieve its operational goals. IZOBLOK is a group of well-prepared and committed employees who build the company’s value and prestige on a daily basis.
During the reporting period, IZOBLOK did not record any payment bottlenecks from counterparties, and the performance of existing agreements is proceeding as planned. The continuing high volatility of the environment means that changes to forecasts in subsequent reporting periods cannot be ruled out”.
says Przemysław Skrzydlak, President of the Management Board of IZOBLOK S.A.
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IZOBLOK SUMMARISES IIIQ 2022/2023
In the period of 9 months of the financial year 2022/2023, the operating revenue of IZOBLOK Group reached PLN 177,537,000, which is 56.8% more than in the corresponding period of the previous financial year. In the same reporting period, its operating profit amounted to PLN 4,992,000 and EBITDA was PLN 14,143,000.
“The year 2023, as we predicted, shows a slight improvement in the economic situation in the industry. After abrupt increases in energy costs in the previous year, we are currently experiencing a dynamic decrease (mainly gas prices, which is a key energy carrier for the company). We are aware that the market is destabilized and needs time to stabilize permanently. We are planning to launch several key projects this year, which will have a positive impact on our results with the continued improvement of the economic situation.
We are still trying to optimize processes, mainly in the direction of cost reduction and prepare for possible volatility in the coming quarters.
As at the date of publication of this report, the Group did not record any significant payment defaults from contractors or disruptions in the performance of existing contracts.
Taking into account the unique situation of the economic environment and the resulting economic effects, we cannot rule out a change in our expectations in subsequent reporting periods,” says Przemysław Skrzydlak, President of the Management Board of IZOBLOK S.A.
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IZOBLOK SUMMARISES IH 2022/2023
In the first half of 2022/2023, the IZOBLOK Group achieved consolidated operating revenues of PLN 110.3 million which forms an increase of 59.4% in comparison to the same period last year. The higher sales dynamics were the result of a higher volume of orders and higher selling prices obtained as a result of negotiations which compensated for production costs.
Consolidated operating profit amounted to PLN 0.5 million, while EBITDA in the reported period stood at PLN 7.0 million with a net loss of PLN 0.8 million.
Standalone operating revenues for the first half of 2022/2023 amounted to PLN 56.5 million which forms an increase of 31.3% year-on-year. Standalone operating profit amounted to PLN 1.6 million, while in the first half of 2021/2022 a loss of PLN 2.4 million was recorded and standalone EBIDA amounted to PLN 4.1 million and net profit to PLN 0.2 million.
At the end of October 2022, the Group made a write-off of PLN 0.5 million for expenditure incurred on the share capital increase which had not been completed by the date of this report and made a provision of PLN 2.4 million for costs related to a potential contractual penalty with PGNiG.
“We are slightly optimistic about 2023. We are aware that the market has been destabilised and needs time to stabilise permanently. High energy costs, inflation, wage surges are all factors that have a negative impact on the company’s operations but the projects we plan to launch in 2023 should, on the other hand, have a positive impact on our results. We aim to continue to optimise processes, implement various types of savings and prepare for the challenging quarters ahead.
As at the date of publication of this report, the Group has not recorded any significant payment gridlocks from counterparties or significant disruptions in the performance of existing contracts. At the same time, taking into account the uniqueness of the situation and the resulting economic effects, we cannot exclude a temporary decrease in revenues from the sale of the offered products in subsequent reporting periods,” says Przemysław Skrzydlak, President of IZOBLOK S.A.
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IZOBLOK RECAPS FY 2021/2022
Revenues of the IZOBLOK Group in the reported period amounted to PLN 159.9 million, consolidated EBITDA evolved at the level of PLN -8.2 million with a net loss of PLN 24.8 million, at the unconsolidated level, revenues amounted to PLN 94.4 million, unconsolidated EBITDA amounted to PLN -5.8 million and net loss amounted to PLN 12.7 million. The standalone results for 2021/22 were impacted by various events resulting from: pandemics, supply chain disruptions, energy crisis. As a result of these events and due to the underperformance of the German company, a write-down of PLN 6.9 million was created on the value of its shares.
The year 2021/2022 was the second pandemic year, and consequently we continued to face lockdown, uncertainty, supply chain problems, turmoil in component prices, energy carriers and changes in the legal and tax environment. The above conditions and the expected further restrictions on raw material imports from Russia (in particular cold gas), contribute to even higher energy price increases, negatively affecting the production costs of the company. As a result, the company is forced to renegotiate contracts with customers in such a way that the new commercial conditions correspond to the present conditions.
‘The increase in energy prices is a major challenge for IZOBLOK, that performs long-term contracts for the automotive industry, for which prices are set at the beginning of the project and should remain unchanged for the duration of the project. In the existing situation, it becomes necessary to deviate from this principle and adjust prices to the new market conditions; unfortunately, this is a long-term and very demanding process for both the company and its customers.
In 2021/2022, the company acquired a strategic investor, the Oslo-listed BEWi ASA Group. The new investor secures the company proper support for its operations during a period of severe market volatility without having to give up investments that are strategic for the company.
Apart from the necessity to fundamentally revise prices in contracts, one of the priorities for 2022/2023 is to take practical measures that take ESG (Environmental, Social, Governance) into account to a greater extent than before. We consider this an opportunity to improve operational efficiency, reduce fossil energy consumption and increase commitment on the part of employees, as well as to meet the expectations set by our contractors in this regard.
I would like to take this opportunity to thank all those involved in the development of the IZOBLOK Group, for their understanding and support during these difficult times. I thank the IZOBLOK Team, Contractors, Shareholders and Financing Institutions for their attitude, business responsibility and commitment.’ – says Przemysław Skrzydlak, President of IZOBLOK S.A.
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IZOBLOK SUMMARISES Q3 2021/2022
During the 9 months of the financial year 2021/2022, the IZOBLOK Group generated sales revenues of PLN 113,232 thousand, i.e. 17% less than in the corresponding period of the previous financial year, incurred an operating loss of PLN 17,193 thousand, while EBITDA in the reported period amounted to PLN – 4,399 thousand.
“In the reported period, we had to deal with a number of unfavourable changes on the market, including a sharp increase in the prices of energy carriers which form a significant item in the cost account, the prices of raw materials and components used by us in production also increased. Our customers, the car manufacturers, have taken steps to limit production or, in more restrictive cases, have decided to temporarily shut down production facilities. Production restrictions, shutdowns, lower orders and high costs of running business took a significant toll on third quarter results.
We are taking measures to return production profitability to the expected level, including new business conditions and process optimisation. The scale and pace of changes in business conditions is unprecedented which makes it much more difficult and lengthy to negotiate new business conditions with customers. We observe market trends in the industry and make decisions related to our operations on an ongoing basis.” – says Przemysław Skrzydlak, President of IZOBLOK SA.
