FABRYKI MEBLI "FORTE" S.A. announced its preliminary consolidated financial results for the fiscal year ending 31 March 2025. The results signal a significant turnaround in performance, underscored by robust revenue growth, improved profitability, and effective strategic measures.
According to preliminary data, the FORTE Group recorded consolidated sales revenue of PLN 1,101 million in FY 2024/25, up 7% from PLN 1,031 million in the previous year. This figure includes PLN 156 million from sales of surplus furniture board by the Group's own board production company, TANNE Sp. z o.o., to external customers (up from PLN 115 million the year before).
In the fourth quarter alone, consolidated sales revenue rose 21% year-on-year to PLN 329 million, compared to PLN 273 million in Q4 of FY 2023/24. This included PLN 45 million in sales from TANNE Sp. z o.o. (versus PLN 34 million in Q4 of the previous year).
The Group's earnings before interest and tax (EBIT) for the 12-month period reached an estimated PLN 71 million, marking a notable recovery from a loss of PLN 2 million in FY 2023/24. EBIT for Q4 was PLN 36 million, compared with PLN 1 million in the same quarter last year.
Estimated earnings before interest, tax, depreciation and amortisation (EBITDA) stood at PLN 127 million for the full year, up 140% from PLN 53 million the previous year. Q4 EBITDA increased 213% year-on-year to PLN 50 million, from PLN 16 million in Q4 FY 2023/24.
'The current financial results reflect the still difficult situation of the furniture industry, with the already visible effect of cost optimisations implemented by the FORTE Group in previous quarters of the financial year, as well as the positive effect of FORTE's hedging strategy,' the company stated.
The Group's FX hedging measures were key in mitigating the effects of a stronger Polish złoty against the euro. With roughly 80% of FORTE's sales occurring outside Poland, the hedging strategy protected against a 5.9% decrease in the average EUR/PLN exchange rate (4.27 in FY 2024/25 vs 4.54 in FY 2023/24). The strategy contributed PLN 33.1 million to EBIT and sales in Q4, and PLN 75.9 million across the full year.
In addition, TANNE Sp. z o.o. earned an extra PLN 9.3 million during Q4 from the sale of CO₂ emission allowances allocated for 2023.
As of 31 March 2025, the Group reported a financial debt to EBITDA ratio of 1.6, which remains within the limits agreed with financing banks under the Joint Terms Agreement signed on 24 July 2024.
The company notes that these figures are preliminary and may differ from the final results to be disclosed in the forthcoming annual financial report for FY 2024/25.
More information:
FABRYKI MEBLI "FORTE" S.A.
[email protected]
www.company.forte.com.pl