ONDE Reports Revenue Growth and Improved Margins in 2025

A revenue increase of over 7 percent and a marked improvement in sales margins –this is how ONDE closed 2025. The company enters 2026 with a backlog 36 percent higher year-on-year and is positioned to capitalize on an accelerating economy.

The ONDE Group, a specialist in the construction and development of renewable energy projects, reported revenue of PLN 864.1 million in 2025, compared to PLN 803.9 million in 2024 (+7.5% year-on-year). This revenue growth was accompanied by a 1.4 year-on-year percentage point expansion in gross profit margin, reaching 12.7%. Consequently, the ONDE Group recorded a gross profit on sales of PLN 109.7 million, up from PLN 90.7 million in 2024.

Operating profit for 2025 reached PLN 37.6 million, compared to PLN 46.1 million the previous year. It should be noted, however, that the 2024 result was significantly bolstered by PLN 19 million in gains from the sale of interests in the Group’s own renewable energy projects, whereas similar transactions in 2025 contributed approximately PLN 5 million.

At the EBITDA level, the ONDE Group generated PLN 53.2 million, which is PLN 2.8 million less than in 2024. Net profit stood at PLN 18.9 million at year-end, compared to PLN 30.3 million in 2024 (-37.4%). The decline in net profit was primarily driven by lower EBIT, higher financial costs (+PLN 2.5 million year-on-year), and a higher effective tax rate (31% vs. 24.1%). The Group entered 2026 with a project portfolio valued at PLN 689 million, representing a 36% year-on-year increase.

‘We view our 2025 results as satisfactory, given that we continue to operate in a market that remains quite challenging. We have increased both sales and margins – a direct result of securing a higher volume of contracts and managing their execution effectively. The supply of wind energy projects in Poland is finally gaining momentum after years of regulatory uncertainty’, emphasises Paweł Przybylski, President of the Management Board of ONDE. ‘We expect our backlog, which stood at PLN 689 million at year-end, to be further bolstered by orders from both the Polish and international markets. We have recently secured additional contracts in Lithuania and Germany’, he adds.

‘We are also seeing significant activity in the energy storage market, where we are successfully leveraging our experience in building wind and PV farms. In recent days, we signed our first contract in this segment and are actively bidding for further opportunities’, assures Paweł Przybylski. ‘Energy storage is the next major megatrend in the energy sector and will define the industry for years to come’, he emphasises.

The Group is also working intensively to expand its renewable energy development portfolio. At the turn of the year, the portfolio grew by over 200 MW, successfully reaching the strategic target of 2 GW. Within this portfolio, projects totalling 387 MW have already secured grid connection agreements.

‘In 2025, we sold several of our developed projects while simultaneously securing the contracts for their construction. This remains the optimal route for us to commercialise such ventures. A standout success was the sale of the 112-megawatt Serby solar farm – one of Poland’s largest PV installations – to Energa Green Development, along with contracts worth approximately PLN 240 million for general contracting and maintenance services’, recalls Marek Marzec, ONDE Vice-President responsible for development. ‘We are currently negotiating the sale of additional projects under the Develop-Sell-Build model with a total capacity of 216 MW’, he adds.

Notably, 2025 also saw ONDE commence the production and sale of energy from its proprietary ‘Lewałd’ PV farm. Revenue from this source, from its commissioning in March through the end of the year, amounted to approximately PLN 7.5 million, with EBITDA reaching nearly PLN 5 million.