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RAF GPW Periodic report · PAP Biznes

Rafamet SA w restrukturyzacji (RAF) · Q1 2026 results

Share price: 38.00 zł · 2026-11-10

Results Q1 2026 vs Q1 2025 · year over year · published 21 May 2026 and 27 Jun 2025

Net loss narrowed year on year. The language turned more upbeat.

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

1 · Numbers

Loss narrowed

Net income vs Q1 2025

Net income -4.7M vs -48.6M

Revenue −62.8%

2 · How the report reads

More upbeat

Language tone vs last period

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

Weak signal: formal report language, not a call.

3 · What stood out

Key theme

The company transitioned to the RAFAMET debt and utilized a WIBOR revolving credit of over 1M plus margin on inventory.

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

38.00 zł

close of 2026-11-10

Revenue growth, 3 years

−15.1% 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 cautious)

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

Full figures

PLN · PAP Biznes report (2026-05-21)

Metric Q1 2026 Q1 2025 Change
Revenue 22.0M 59.1M −62.8%
Gross profit 3.3M 1.5M +123.0%
Operating income -2.9M -35.5M Loss narrowed
Net income -4.7M -48.6M Loss narrowed
EPS -0.45 -9.03 Loss narrowed
P/E 12-mo loss 12-mo loss —

Topics

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

Most discussed now

  • When assessing GK's ability to continue operations, the Board of RAFAMET analyzes the occurrence of uncertainties regarding events or…
  • The value of construction in progress increased by 3 thousand.
  • Such events include, among others: the occurrence of a net loss, the level of generated cash flows in both the Dominant Entity and the…
  • Actions aimed at securing the fourth tranche of recapitalization and fulfilling the provisions of the investment agreement concluded with…
  • Ltd., significant changes in the market environment, economic and financial systems, both in Poland and worldwide, and significant…

Faded since Q1 2025

  • Fading If the recoverable amount is lower than the net carrying amount of an asset (or a group of assets), the carrying amount is reduced to the…
  • Fading In such a situation, the Company will be entitled to appoint an expert to verify the fulfillment of the condition regarding the third and…
  • Fading In the first quarter of 2025, it realized sales revenues in the amount of 6,855 thousand.

Latest announcements

Official filings, newest first.

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