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Elektrotim 2026: record backlog of PLN 733 m (+34% YoY), revenue PLN 579.7 m and a PLN 2 dividend recommendation - strategy PLN 1 bn / PLN 88 m EBITDA by 2030
Wrocław-based Elektrotim S.A. (KRS 0000035081) - an electrical-installation contractor for PSE, Tauron, Enea and the Border Guard - closed 2025 with revenue of PLN 579.7 m (+10.5% YoY) and a record backlog of PLN 733 m (+34% YoY). EBITDA PLN 45.3 m, net profit PLN 29.0 m (-46.4% versus the exceptional 2024 of PLN 54.1 m). Q4 2025 was particularly strong: revenue +25.7%, EBITDA +38.2%, net profit +74.2% YoY. The board recommends PLN 2 of dividend. The 2026–2030 strategy targets PLN 1 bn revenue, PLN 88 m EBITDA and PLN 67 m net profit by 2030.
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Onde 2026: revenue PLN 864 m (+7.5% YoY), gross margin +1.4 pp, sale of the Serby PV farm (112 MW) to Energa Green Development - backlog PLN 689 m (+36% YoY)
Toruń-based Onde S.A. (KRS 0000028071), a wind- and PV-farm contractor with 5+ GW portfolio (450+ completed projects) and the listed daughter of the Erbud Group, posted 2025 revenue of PLN 864.1 m (+7.5% YoY) and gross margin of 12.7% (+1.4 pp). EBIT PLN 37.6 m (-18%), EBITDA PLN 53.2 m (-5%), net profit PLN 18.9 m (-37%) - mainly the effect of higher financing costs and a higher effective tax rate. Project backlog: PLN 689 m (+36% YoY). Key 2025 transaction: sale of the 112 MW Serby PV farm to Energa Green Development with GC contracts worth around PLN 240 m. Own Lewałd PV farm operating since March 2025. Renewables development portfolio: 2 GW.
News
PIIB 2026 report: 60% of Polish construction engineers see pay as too low - workforce crisis in a PLN 400 bn sector
The Polish Chamber of Construction Engineers (PIIB) has published a diagnostic report on the future of technical staff in Poland. 60% of engineers consider their pay too low; average net pay PLN 10,684; gender pay gap 26%. Meanwhile the construction market in 2026 is valued at >PLN 400 bn.
Benchmark
The Polish construction industry - 2024 analysis
Market size, leading contractors, profitability spread, and sector cycle in one place. PKD section F (41 - building construction, 42 - civil engineering, 43 - specialised works) seen through KRS data.