The Śnieżka Group generated PLN 380.3 million ($105 million) in sales revenue in the first half of 2025, compared to PLN 402.6 million in the same period of the previous year. In the reported half-year, EBITDA amounted to PLN 66.5 million ($18.4 million), compared to PLN 67.4 million a year earlier, while net profit was PLN 31.3 million ($8.7 million), compared to PLN 31.7 million in the first half of 2024.

From January to June of this year, the group’s results were impacted by challenging macroeconomic conditions, which impacted consumer activity and choices. The paint market continued to show no signs of recovery.

“The macroeconomic environment, as well as the situation in the paint industry, did not improve in the second quarter of 2025, which translated into a decline in sales throughout the first half of this year,” says Joanna Wróbel-Lipa, VP of the Management Board.

“In these conditions, we are focusing on measures that increase resilience, i.e., cost discipline and systematically reducing debt levels – at the end of June this year, the net debt to EBITDA ratio was 1.69. The group’s results confirm our ability to operate effectively and maintain market share, despite persistent demand challenges in key markets.”

In the first half of 2025, the group’s profitability was negatively impacted primarily by a decline in sales. Focusing on maintaining cost discipline resulted in a nearly PLN 0.5 million year-on-year decrease in selling, general, and administrative expenses.

EBITDA profitability in the period under review was 17.5%, an increase of 0.8 percentage points compared to the previous year, and in the second quarter alone, it was 19.1%, an increase of 1.3 percentage points year-on-year.

In the first half of this year, the gross sales margin increased to 49.9%, compared to 48.4% in the same period of the previous year, which resulted from a favorable ratio of manufacturing costs to sales.

Domestic sales in the first half of 2025 reached PLN 279.2 million ($77.2 million), a 2.3% year-on-year decline, representing 73.4% of consolidated revenue. In the Hungarian market, revenue decreased by 10.7% year-on-year, reaching PLN 47.5 million ($13.1 million). Sales in the Ukrainian market amounted to PLN 39.4 million ($10.9 million), an 8.2% year-on-year decline. Additionally, the strengthening of the zloty against the forint and hryvnia negatively impacted results.

At the end of June 2025, the group’s net debt/EBITDA ratio was 1.69, compared to 2.08 a year earlier.