In the first quarter of 2026, Śnieżka Group generated PLN 164.8 million in sales revenue, down 4.3% compared with the same period of the previous year. At the same time, the Group recorded a 14.6% year-on-year increase in revenue in Hungary, its largest foreign market.
EBITDA for the reporting period amounted to PLN 28.7 million, up 7.9% year on year, while net profit reached PLN 14.0 million, an increase of 29.8% year on year.
The situation in individual markets was as follows:
In Poland, domestic sales amounted to PLN 121.2 million, representing a decline of 5.6% year on year.
In Hungary, revenue reached PLN 21.7 million, an increase of 14.6% year on year in the Group’s reporting currency and 7.2% in the local currency.
In Ukraine, sales amounted to PLN 14.8 million, down 20.9% year on year in the Group’s reporting currency and 11% year on year in the local currency.
The Group maintained discipline in its debt structure. At the end of the first quarter of 2026, the net debt-to-EBITDA ratio decreased to 1.1, compared with 1.6 a year earlier.
“For us, the beginning of the year is traditionally a period of preparation for the main season. This year’s first-quarter results reflect the continued low demand for decorative products. When analysing the performance of companies in the sector, it is also worth pointing to this year’s exceptionally demanding winter, which may also have affected consumer activity. Sales dynamics in Śnieżka Group’s key markets varied: negative in Poland and Ukraine, but positive in Hungary, where revenue increased in the first quarter of 2026 and where, as we observe, consumer demand is recovering. The main season is still ahead of us, and both the level of net debt and operating capital confirm a solid base for activity in the coming months,” said Witold Waśko, Vice-President of the Management Board and Chief Financial Officer of Śnieżka S.A.
Key Items from Śnieżka Group’s Statement of Comprehensive Income
| Item | 3 months ended 31 March 2026 | 3 months ended 31 March 2025 | Change y/y |
|---|---|---|---|
| Sales revenue | 164,757 | 172,238 | -4.3% |
| Cost of sales | 77,978 | 86,947 | -10.3% |
| SG&A costs | 67,781 | 67,288 | 0.7% |
| Result on other operating activities | -430 | -899 | -52.2% |
| Result on financial activities | -2,076 | -3,787 | -45.2% |
| Share in profit of associate | — | -39 | — |
| Gross profit | 16,492 | 13,278 | 24.2% |
| Operating profit (EBIT) | 18,568 | 17,104 | 8.6% |
| Operating profit + depreciation and amortisation (EBITDA) | 28,739 | 26,634 | 7.9% |
| Income tax | 2,464 | 2,468 | -0.2% |
| Net profit, including: | 14,028 | 10,810 | 29.8% |
| Profit attributable to shareholders of the parent company | 13,761 | 10,603 | 29.8% |
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