Amica Group sums up the first quarter of 2025

26 May 2025

The largest Polish manufacturer of household appliances continues to face the downturn in the European durable goods market, the strengthening of the złoty and the growth of the cost base. The implementation of the Amica Group's "Back to Profitability" strategy is a response to changes in the environment.

In the first three months of 2025, the Amica Group recorded PLN 566.9 million in revenue, which means a decrease of 9.8% compared to the same period last year. The Polish market generated 35% of revenue from the sale of products and goods, also realizing the smallest regression (3.7% y/y). The West region, including Scandinavia, accounted for 51% of sales, recording a decrease of 13.2% y/y. Other markets fell in value by 10.9%, accounting for 14% of sales of products and goods. This translated into a decrease in EBITDA by PLN 4.2 million y/y, to PLN 18.4 million and operating profit by PLN 5.0 million, to PLN 3.1 million. Net profit fell by PLN 5.8 million to PLN 4.0 million in the red.

– After a very good last quarter of last year, the first quarter of this year brought a rebound. Looking at the fixed costs incurred by the factory in Wronki, whose production capacity is only partially used, or at the additional freight costs resulting from the blockade of the Red Sea, the past quarter in the Amica Group can be assessed positively. We have a stable balance sheet situation, in which at the end of March we had almost PLN 105 million of cash, and our net debt to EBITDA ratio was a very safe value of 1.15 – says Michał Rakowski, Vice President of the Amica Group for Finance.

Taking into account the stable financial situation, the Management Board recommended the payment of a dividend of PLN 2.00 per share with its payment in June this year. The final decisions will be made by the General Meeting, which was convened for June 11 this year.

As part of the implementation of the long-term "Back to Profitability" strategy, presented in September last year, the Amica Group intends to achieve sales growth of over 7% annually from 2030 with an expected EBITDA profitability of 5% in 2027 and 7% in 2030+. The goal is also to increase the RONA (return on net assets) ratio to 14% in 2027 and exceed 17% in 2030+. The company intends to maintain the net debt to EBITDA ratio below 2 and increase the gross margin on product sales in 2027 to 25% and to 28% in 2030+.

In the new strategy, Amica's mission is to offer durable and reliable household appliances with the highest quality service in order to make everyday life easier for consumers, respecting local traditions and the heritage of strong local brands (Amica, Fagor, Gram, Hansa, CDA). The vision of the Amica Group is to become the most recommended brand of heating equipment in key markets in Europe. The company intends to focus on sales in European countries, with the planned development of sales in individual geographical markets to be implemented based on sales and marketing strategies dedicated to specific areas. Amica has developed a product strategy and post-purchase experience to clearly gain in the eyes of European consumers, and at the same time has identified product, operational and financial factors thanks to which it intends to become a preferred B2B partner.

The company places emphasis on broadly understood quality, consumer satisfaction and production efficiency, assuming an increase in production volumes at the heating equipment factory in Wronki by approximately 65% ​​compared to the level in autumn 2024. Issues related to HR and organizational culture, including engagement, support, attracting and developing talent, are also a strategic pillar.

The Amica Group is also implementing the ESG strategy "Action for Climate", presented in December 2022, which sets social and management goals for 2025 and 2030, as well as environmental goals for 2040 and 2050. In January 2024, Amica increased production efficiency by launching a cogeneration installation (simultaneous production of heat and electricity). Meanwhile, the special purpose vehicle Amica Energia, registered in April last year, is primarily focused on developing photovoltaic installations. Over the next two years, it intends to acquire land in the form of a lease and obtain the necessary administrative decisions for a photovoltaic farm with a capacity of at least 30MWp.


The Amica Group is the largest Polish manufacturer of household appliances and one of the most renowned Polish companies listed on the Warsaw Stock Exchange. Its offer includes a full range of large and small household appliances, distinguished by their usability, quality, appearance and innovation. The Group obtains approximately 75% of consolidated revenues from the sale of products and goods thanks to its activity on approximately 70 foreign markets. Amica has won many prestigious awards, both Polish and international, including the Red Dot Design Award: Best of the Best. The Amica Group's brand portfolio also includes foreign brands Gram, Hansa, CDA and Fagor.

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