In 2024, the Śnieżka Group generated PLN 798.4 million ($211 million) in sales revenue, compared to PLN 857.8 million a year earlier. In the period under review, EBITDA amounted to PLN 142.8 million ($37.7 million), compared to PLN 159.4 million in the previous year, and net profit reached PLN 72.1 million ($19 million), compared to PLN 83.5 million achieved a year earlier.

The decline in results is primarily the result of lower sales volumes on the entire market, resulting from difficult macroeconomic conditions. Additionally, the level of results was negatively affected by the strengthening of the złoty against the forint and hryvnia. Despite unfavorable external conditions, the Śnieżka Group increased its share in the Polish and Ukrainian markets.

“The year 2024 brought difficult market conditions that had a significant impact on the entire industry,” said Piotr Mikrut, chairman of the board. “High interest rates and a small increase in real wages weakened the financial situation of consumers, forcing them to be more cautious in making purchasing decisions. As a result, the decline in demand led to a decrease in sales volumes across the market.

“Despite difficult external conditions, we improved our gross sales profitability,” added Mikrut. “Achieving this result was possible thanks to several key elements: optimization of production and logistics processes, effective cost management, an effective pricing strategy and an increase in the share of premium products in our portfolio. Additional support was provided by the strengthening of the złoty against the euro.”

In 2024, the group’s profitability declined as a result of lower sales and an 8.5% increase in selling and general administrative costs compared to the previous year. EBITDA profitability in the period under review was 17.9%, down 0.7 percentage points compared to the previous year, but it is still a very good result compared to the entire industry.

Domestic sales in 2024 reached PLN 576.8 million ($152.2 million), down 2.4% compared to 2023, accounting for 72.2% of consolidated revenues. On the Hungarian market, revenues decreased by 19.8% ($27.1 million), reaching PLN 102.8 million. Sales on the Ukrainian market amounted to PLN 80.6 million ($21.3 million), down 8.9% year-on-year.

“Our competitiveness is based on strong brands, a properly selected product portfolio and modern production and logistics processes that allow us to flexibly respond to market needs,” Mikrut said. “These solid foundations provide a good basis for growing financial results in the coming years, especially when market conditions, which have a key impact on the group’s sales results, improve.”