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MSW GPW Periodic report · PAP Biznes

Mostostal Warszawa SA (MSW) · Q1 2026 results

Share price: 3.70 zł · 2026-11-10

Results Q1 2026 vs Q1 2025 · year over year · published 25 May 2026 and 28 May 2025

Net income turned to a loss from a profit a year earlier. The language turned more cautious.

Only a basic analysis is available for this company at the moment.

1 · Numbers

Turned loss

Net income vs Q1 2025

Net income -480 vs 717.0K

Revenue −20.7%

2 · How the report reads

More cautious

Language tone vs last period

Report language: typical for a company report — more cautious than in Q1 2025.

Weak signal: formal report language, not a call.

3 · What stood out

Fading

The Court of Appeal granted the Defendant's request to stay the execution of the judgments until the Supreme Court decides on the cassation appeal.

Valuation

Reverse DCF. Free cash flow from the last full fiscal year, grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.

Valuation unavailable: free cash flow and profit were negative in the last full year and on average over the last three, so there is nothing to discount.

Current price

3.70 zł

close of 2026-11-10

Revenue growth, 3 years

−6.7% a year

compound annual rate (CAGR)

Official channels

The company's own website and social media accounts.

Read between the lines

No major shifts flagged this period.

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q1 2026. Ring: Q1 2025.

Report language Typical (was upbeat)

Typical for a company report — more cautious than in Q1 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
“It can be expected that this conflict will primarily translate into rising inflation, currency fluctuations, limited availability, and rising fuel prices.”
“These circumstances primarily include: • an increase in the scope of work compared to the design (tender) assumptions provided to the Group by the ordering parties, • an unforeseeable, extraordinary increase in prices: construction materials (including...”
“PLN and compared to the same period in 2025 were 21% lower, among other things due to difficult atmospheric conditions.”

Full figures

PLN · PAP Biznes report (2026-05-25)

Metric Q1 2026 Q1 2025 Change
Revenue 251.4M 317.0M −20.7%
Gross profit 8.3M 19.8M −58.2%
Operating income -5.9M 2.8M Turned loss
Net income -480 717.0K Turned loss
P/E 12-mo loss 12-mo loss —

Topics

Topics are drawn from the full report text, not management commentary.

Most discussed now

  • Claims subject to court proceedings: * Presented assets
  • Claims against the Capital Group represent a potential amount of remuneration reduction to be refunded to the ordering party in the event…
  • 10.3 km" including subsequent annexes, by increasing the remuneration due to the Contractor for the performance of the Contract by an…
  • Dominated by uncontrollable, extraordinary price increases driven by buyers: construction materials (including fuels
  • Assets included in the statement of potential financial situation related to remuneration for the completion of the work

Faded since Q1 2025

  • Fading Factors that will impact the results achieved in the perspective of at least the next quarter
  • Fading The court ordered the defendant to submit a statement of defense within two months.
  • Fading Claims subject to court proceedings: * Presented assets
  • Fading Liabilities from the execution of construction contracts (totaling long-term and short-term) amounted to 90,719 thousand.

Latest announcements

Official filings, newest first.

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