Erbud stock reports a profitable core after a costly exit

Published on 10/05/2026 at 22:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Erbud stock was last at PLN 22.90 on October 5, 2026, while H1 continuing operations produced PLN 2.77 million. Discontinued operations lost PLN 286.43 million.

Erbud, PLERBUD00012, Illustration mit AI erstellt.

Erbud (ISIN PLERBUD00012) was last at PLN 22.90 on the Warsaw Stock Exchange on October 5, 2026 at 4:59 p.m. CEST, down 0.65 percent from the prior close. The construction group returned to a profit in continuing operations during the first half, while its exit from modular construction created a large reported loss, according to ERBUD on September 28, 2026.

H1 profit masks a major charge

Erbud recorded PLN 2.77 million of net profit from continuing operations in H1 2026, compared with PLN 14.34 million in H1 2025. The result was overwhelmed by a PLN 286.43 million net loss from discontinued operations linked to the modular construction segment, leaving total net income at a PLN 283.67 million loss, Quartr reported for the September 28, 2026 earnings event.

The accounting charge is the central dividing line in the results. Erbud said the modular segment is being divested, while the remaining businesses generated positive operating earnings and the company concentrated on construction, industrial services and renewable-energy infrastructure.

Revenue falls as margins recover

Continuing-operations revenue reached PLN 1,254.95 million in H1 2026, down 13.5 percent year over year, while EBIT declined to PLN 15.36 million from PLN 32.05 million, according to Quartr. The second quarter offered a sharper operational contrast: sales reached PLN 668.3 million and gross margin rose to 8.2 percent from 6.2 percent in the first quarter, ERBUD said.

Order visibility provides a counterweight to the weaker top line. Puls Biznesu reported on September 28, 2026 that the group entered the second half with an order book of PLN 2.6 billion, including PLN 1.4 billion assigned to 2026.

Consensus target stays above market

The published analyst consensus is Neutral, based on one analyst, with an average 12-month price target of PLN 32.70. The highest and lowest published targets are both PLN 32.70, according to Investing.com.

Erbud stock remains above yearly low

Erbud stock was last at PLN 22.90 on GPW in Warsaw at 4:59 p.m. CEST on October 5, 2026. The current quote sits within a 52-week range of PLN 17.80 to PLN 35.55, with a market capitalization of PLN 273.2 million and volume of 20,615 shares.