Erbud reports first-half profit recovery for Erbud stock after MOD21 exit

Published on 10/20/2026 at 13:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Core operations earned PLN 2.77 million in first-half 2026. Erbud stock trades at EUR 5.37 on October 20, 2026, with PLN 1.25 billion revenue.

Profit recovery and cash priorities

Erbud reported PLN 2.77 million from continuing operations on September 28, 2026.
First-half revenue reached PLN 1.25 billion, while discontinued operations posted a PLN 286.43 million loss.
Erbud stock trades at EUR 5.37 at 12:59 p.m. CEST at Lang & Schwarz on October 20, 2026.

Erbud, PLERBUD00012, Illustration mit AI erstellt.

Erbud (PLERBUD00012) stock was trading at EUR 5.37 at Lang & Schwarz at 12:59 p.m. CEST on October 20, 2026. The company had reported a return to profit from continuing operations after leaving the loss-making MOD21 modular construction business, according to Erbud on September 28, 2026.

Second-quarter margins improved

Erbud said continuing operations generated PLN 2.77 million of net profit in the first half of 2026, compared with PLN 14.34 million in the first half of 2025. Revenue reached PLN 1.25 billion, down from PLN 1.45 billion a year earlier, while operating profit fell to PLN 15.36 million from PLN 32.05 million, according to the company report carried by Puls Biznesu.

The second quarter supplied the operational improvement. Sales reached PLN 668.30 million, up 14.00 percent from the first quarter, and gross margin rose to 8.20 percent from 6.20 percent. The company also reported PLN 14.70 million of EBIT and PLN 7.00 million of continuing-operations net profit for the quarter.

Three dates explain the reset

On August 26, 2026, Erbud announced that it would stop investing in modular construction, a decision expected to reduce consolidated earnings by PLN 231 million, as Bankier.pl reported. On September 28, 2026, the half-year figures showed PLN 286.43 million of loss from discontinued operations. On October 20, 2026, the Lang & Schwarz quote stood at EUR 5.37.

What does the exit mean for cash?

The exit removes MOD21 from the continuing business picture, but the financial cost remains material. The company expects to recover PLN 50 million over two years from selling modular assets, while the MOD21 factory is scheduled to complete its final contracts in March 2027, according to Rzeczpospolita. For investors, the key test is whether improved margins in construction, industrial services and renewable-energy projects can offset the weaker first-half revenue.

Stock quote and investor context

Erbud was trading at EUR 5.37 at Lang & Schwarz on October 20, 2026 at 12:59 p.m. CEST. The latest half-year report gives the stock a mixed operating picture: continuing activities returned to profit, but the discontinued business produced a PLN 286.43 million loss and operating cash flow was negative PLN 191.42 million in the first half of 2026. The further course of trading is shown by the continuously updated real-time quote of Erbud stock.