Q1 2026 report
Mała, zdywersyfikowana grupa handlowo-usługowa (handel paliwami, leasing/ubezpieczenia/windykacja, deweloperka mieszkaniowa) notowana na NewConnect, o rocznych przychodach rzędu 280 mln PLN (ekstrapolacja z 70,2 mln PLN w I kw. 2026).
Sentiment
Neutral
No guidance change
EGH
Q1 2026 report
Revenue
70,202,957 PLN
— YoY
Net income
912,528 PLN
— YoY
EBITDA
1,253,959 PLN
— YoY
Net debt / EBITDA
-1.72x
— YoY
Summary
Investment thesis
- Przychody, zysk operacyjny i zysk netto rosną dwucyfrowo r/r na każdym poziomie rachunku wyników (+11,5% / +20,4% / +26,2%), napędzane głównie wzrostem wolumenu handlu paliwami.
- Rentowność pozostaje ekstremalnie niska (marża netto ok. 1,3%), co jest typowe dla handlu paliwami obciążonego wysoką akcyzą, a nie oznaką słabości modelu biznesowego samego w sobie.
- Bilans jest bezpieczny — grupa ma pozycję gotówki netto (13,1 mln PLN gotówki wobec ok. 4,5 mln PLN zadłużenia odsetkowego) i kapitał własny pokrywający ok. 51% sumy bilansowej.
- Przepływy operacyjne pozostały dodatnie, ale spadły r/r (-25,2%) mimo wyższego zysku netto — efekt szybszego wzrostu należności handlowych, wymagający obserwacji w kolejnych kwartałach.
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Financials
BETA
EGH · Q1 2026
| Metric | Q1 2026 | Q1 2025 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 70,202,957 | — | — | reported | — | 1.00 |
| EBITDA | 1,253,959 | — | — | derived | — | 1.00 |
| EBIT | 969,288 | — | — | reported | — | 1.00 |
| EBT | 995,336 | — | — | reported | — | 1.00 |
| Net income | 912,528 | — | — | reported | — | 0.90 |
| EPS (basic) | 0.36 | — | — | derived | — | 0.70 |
| D&A | 284,671 | — | — | reported | — | 1.00 |
| Interest expense | 45,630 | — | — | reported | — | 1.00 |
| Income tax | 80,053 | — | — | reported | — | 1.00 |
| Shares (basic) (m units) | 2.51 | — | — | derived | — | 0.70 |
| EBITDA margin | 1.44% | — | — | reported | — | 1.00 |
| EBIT margin | 1.3% | — | — | reported | — | 1.00 |
| EBT margin | 1.42% | — | — | derived | — | 1.00 |
| Net margin | 1.25% | — | — | reported | — | 1.00 |
| D&A margin | 0.41% | — | — | derived | — | 1.00 |
| Cash | 13,147,460 | — | — | reported | — | 1.00 |
| Total debt | 4,535,439 | — | — | reported | — | 0.85 |
| Net debt | -8,612,022 | — | — | derived | — | 0.85 |
| Equity | 21,169,516 | — | — | reported | — | 1.00 |
| Total assets | 41,469,403 | — | — | reported | — | 1.00 |
| Working capital (m PLN) | 11.32 | — | — | reported | — | 1.00 |
| Current assets | 27,472,873 | — | — | reported | — | 1.00 |
| Current liabilities | 17,461,298 | — | — | reported | — | 1.00 |
| Non-current liabilities | 2,006,113 | — | — | reported | — | 1.00 |
| Inventory | 4,533,192 | — | — | reported | — | 1.00 |
| Trade receivables | 8,297,346 | — | — | reported | — | 0.90 |
| Goodwill | 3,312,842 | — | — | reported | — | 1.00 |
| CFO | 3,134,396 | — | — | reported | — | 1.00 |
| CapEx | 208,525 | — | — | reported | — | 1.00 |
| FCF | 2,925,871 | — | — | derived | — | 1.00 |
| FCF conversion | 233.36% | — | — | reported | — | 0.50 |
| CFO conversion | 249.96% | — | — | reported | — | 0.50 |
| Current ratio | 1.73x | — | — | reported | — | 1.00 |
| Quick ratio | 1.44x | — | — | reported | — | 0.90 |
| Cash ratio | 0.86x | — | — | reported | — | 1.00 |
| Interest coverage | 43.4x | — | — | reported | — | 0.90 |
| Net debt / EBITDA | -1.72x | — | — | reported | — | 0.30 |
| Debt / equity | 0.05x | — | — | reported | — | 0.90 |
| Debt / assets | 0.03x | — | — | reported | — | 0.90 |
| Net debt / equity | -0.59x | — | — | reported | — | 0.90 |
| Revenue growth (YoY) | 11.46% | — | — | reported | — | 1.00 |
| EBITDA growth (YoY) | 14.7% | — | — | reported | — | 1.00 |
| EBIT growth (YoY) | 17.2% | — | — | reported | — | 1.00 |
| Net income growth (YoY) | 21.44% | — | — | reported | — | 1.00 |
| EPS growth (YoY) | 26.22% | — | — | reported | — | 0.70 |
| FCF growth (YoY) | -26.77% | — | — | reported | — | 1.00 |
| EBITDA margin Δ (YoY) | 0.04 pp | — | — | reported | — | 1.00 |
| EBIT margin Δ (YoY) | 0.06 pp | — | — | reported | — | 1.00 |
| Net margin Δ (YoY) | 0.1 pp | — | — | reported | — | 1.00 |
Q1 2026 · Δ YoY
Revenue
70,202,957
—
70,202,957
—
- Q1 2025
- —
EBITDA
1,253,959
—
1,253,959
—
- Q1 2025
- —
EBIT
969,288
—
969,288
—
- Q1 2025
- —
EBT
995,336
—
995,336
—
- Q1 2025
- —
Net income
912,528
—
912,528
—
- Q1 2025
- —
EPS (basic)
0.36
—
0.36
—
- Q1 2025
- —
D&A
284,671
—
284,671
—
- Q1 2025
- —
Interest expense
45,630
—
45,630
—
- Q1 2025
- —
Income tax
80,053
—
80,053
—
- Q1 2025
- —
Shares (basic)
(m units)
2.51
—
2.51
—
- Q1 2025
- —
EBITDA margin
1.44%
—
1.44%
—
- Q1 2025
- —
EBIT margin
1.3%
—
1.3%
—
- Q1 2025
- —
EBT margin
1.42%
—
1.42%
—
- Q1 2025
- —
Net margin
1.25%
—
1.25%
—
- Q1 2025
- —
D&A margin
0.41%
—
0.41%
—
- Q1 2025
- —
Cash
13,147,460
—
13,147,460
—
- Q1 2025
- —
Total debt
4,535,439
—
4,535,439
—
- Q1 2025
- —
Net debt
-8,612,022
—
-8,612,022
—
- Q1 2025
- —
Equity
21,169,516
—
21,169,516
—
- Q1 2025
- —
Total assets
41,469,403
—
41,469,403
—
- Q1 2025
- —
Working capital
(m PLN)
11.32
—
11.32
—
- Q1 2025
- —
Current assets
27,472,873
—
27,472,873
—
- Q1 2025
- —
Current liabilities
17,461,298
—
17,461,298
—
- Q1 2025
- —
Non-current liabilities
2,006,113
—
2,006,113
—
- Q1 2025
- —
Inventory
4,533,192
—
4,533,192
—
- Q1 2025
- —
Trade receivables
8,297,346
—
8,297,346
—
- Q1 2025
- —
Goodwill
3,312,842
—
3,312,842
—
- Q1 2025
- —
CFO
3,134,396
—
3,134,396
—
- Q1 2025
- —
CapEx
208,525
—
208,525
—
- Q1 2025
- —
FCF
2,925,871
—
2,925,871
—
- Q1 2025
- —
FCF conversion
233.36%
—
233.36%
—
- Q1 2025
- —
CFO conversion
249.96%
—
249.96%
—
- Q1 2025
- —
Current ratio
1.73x
—
1.73x
—
- Q1 2025
- —
Quick ratio
1.44x
—
1.44x
—
- Q1 2025
- —
Cash ratio
0.86x
—
0.86x
—
- Q1 2025
- —
Interest coverage
43.4x
—
43.4x
—
- Q1 2025
- —
Net debt / EBITDA
-1.72x
—
-1.72x
—
- Q1 2025
- —
Debt / equity
0.05x
—
0.05x
—
- Q1 2025
- —
Debt / assets
0.03x
—
0.03x
—
- Q1 2025
- —
Net debt / equity
-0.59x
—
-0.59x
—
- Q1 2025
- —
Revenue growth (YoY)
11.46%
—
11.46%
—
- Q1 2025
- —
EBITDA growth (YoY)
14.7%
—
14.7%
—
- Q1 2025
- —
EBIT growth (YoY)
17.2%
—
17.2%
—
- Q1 2025
- —
Net income growth (YoY)
21.44%
—
21.44%
—
- Q1 2025
- —
EPS growth (YoY)
26.22%
—
26.22%
—
- Q1 2025
- —
FCF growth (YoY)
-26.77%
—
-26.77%
—
- Q1 2025
- —
EBITDA margin Δ (YoY)
0.04 pp
—
0.04 pp
—
- Q1 2025
- —
EBIT margin Δ (YoY)
0.06 pp
—
0.06 pp
—
- Q1 2025
- —
Net margin Δ (YoY)
0.1 pp
—
0.1 pp
—
- Q1 2025
- —