ONDE opens 2026 with improved sales margins

The Toruń-based company entered 2026 with a robust order backlog and improved profitability. Management Board expects the weaker performance recorded in the first quarter to be offset by stronger results in the months ahead.

The ONDE Group, which specialises in renewable energy engineering and development projects, generated revenue of PLN 98.8 million in Q1 2026, compared with PLN 155.6 million in the corresponding period of 2025, representing a year-on-year decrease of 36.5%. Despite the decline in revenue, the company maintained a gross profit on sales comparable to last last year’s level, at PLN 11.7 million versus PLN 12.1 million in Q1 2025. As a result, the gross sales margin increased by 4.1 percentage points to 11.9%. At the operating level, ONDE reported a loss of PLN 4.4 million, compared with a loss of PLN 3.9 million in Q1 2025. Net loss amounted to PLN 4.5 million, versus PLN 5.6 million a year earlier.  

“Traditionally, the first quarter is the most challenging period of the year for our business, and this year revenues were further affected by an exceptionally cold and prolonged winter. It is worth noting that construction output declined by as much as 12.8% year on year in January alone,” explains Paweł Przybylski, CEO of ONDE.“Despite these conditions, we have built a strong order backlog,” he adds.

As at the end of March, ONDE’s order backlog from external clients totalled PLN 663 million, up 25% year on year. Following the balance sheet date, the company signed additional contracts worth nearly PLN 250 million.

“In revenue terms, our order backlog gives us confidence that the weaker revenues recorded at the beginning of the year will be more than offset in the coming months. Given the number of tenders we are currently participating in, both in Poland and internationally, we also expect the backlog to continue growing in the coming quarters,” says Paweł Przybylski.

In the first quarter, the company signed its first contract in Poland for the construction of an energy storage facility for a Western European investor. The total value of the contract, including the option, may reach nearly PLN 53.3 million net. Following the balance sheet date, ONDE secured another contract in this segment, valued at PLN 110 million, involving the development of one of Europe’s largest energy storage facilities. 

“We are seeing strong momentum in the energy storage market, where we have already secured our first contracts. We are actively bidding for further projects, as energy storage represents the next major step in the energy transition,” says Paweł Przybylski. “These contracts will partially compensate for the investment gap currently evident in the wind energy market,” he emphasises.

The Group continues to consistently pursue its geographical diversification strategy. In the first quarter, ONDE GmbH secured additional contracts for the construction of turbine foundations for Nordex projects in Germany. At the beginning of April, ONDE also signed a contract worth approximately PLN 122 million for construction works related to a wind farm project in the Lithuania.

ONDEis also continuing to expand its renewable energy project portfolio. The company entered the year with more than 2 GW of wind, photovoltaic and energy storage projects in its portfolio. Grid connection conditions have already been secured for projects with a combined capacity of 387 MW.

“Our extensive project portfolio, the majority of which we acquire at an early stage of development, represents an opportunity to generate substantial returns over the next five to seven years. In line with our strategy, we aim to maximise value for investors, including through project hybridisation, and sell projects together with contracts under the Develop-Sell-Build model,” says Marek Marzec, Vice President of ONDE. “We are currently negotiating the sale of projects with a combined capacity of 216 MW,” he adds.

It should also be noted that in 2025 ONDE began generating and selling electricity from its own “Lewałd” photovoltaic farm. In Q1 2026, the installation generated approximately PLN 1.7 million in revenue and PLN 1 million in EBITDA.