SUMMARY OF THE 2025 ANNUAL REPORT

Grupa PSB is a nationwide network made up of thousands of local stories, which come together every day to form a single, well-oiled machine. It’s ours because it comes from here—from neighborhoods, small towns, family-run businesses, and construction sites we know by name.

Letter from the Management Board

Dear Shareholders, Partners, Employees and Friends of the Grupa PSB,

We are pleased to present to you the Annual Report of the Grupa PSB Handel S.A. for 2025, summarising a period full of challenges, yet confirming the stability and maturity of our business model. We operated in an environment characterised by fluctuating conditions in the construction sector, cost pressures and significant variations in demand across market segments. Despite these conditions, the Grupa PSB consistently pursued its strategic objectives, strengthening its position as the leading distributor of building materials in Poland.

In 2025, the value of the construction and installation market in Poland rose to approximately PLN 389 billion, whilst the building materials distribution sector, in which the Grupa PSB operates, reached a value of around PLN 70 billion. In this market environment, the Grupa PSB generated total revenue of approximately PLN 9.3 billion, with a market share of around 13%. As a federation of partner companies, it ranks first in the building materials distribution market in Poland. A particular distinction of the Grupa PSB is that it is the only organisation operating in both the traditional channel and the modern DIY retail channel. Additionally, during the period under review, there was an increase in the share of purchases made through the PSB Head Office, which contributed to the standardisation of the product range, improved purchasing efficiency and strengthened the negotiating position of the entire federation.

The retail segment, represented by the PSB Mrówka chain, generated revenue of PLN 4.4 billion in 2025, ranking 4th in the DIY retail market. At the same time, the traditional channel – building supplies yards and PSB Profi – achieved revenue of PLN 4.9 billion, maintaining its second-place market position in this segment. These results confirm the effectiveness of the diversification of the Grupa PSB’s business model and the importance of synergies between sales channels.

The year 2025 was also a period of intensive network expansion. The Grupa PSB comprised 412 Partners, who together operated 755 retail outlets across Poland. During this period, the network expanded by 42 new outlets, in both the modern and traditional channels, enabling a presence in approximately 90% of the country’s districts. Such a wide reach effectively combines a nationwide scale of operations with the local character of partner companies, which constitutes one of the key values and distinguishing features of the PSB model. 

We placed great emphasis on further operational integration and digitalisation. We developed analytical tools, the Mrówka Marketplace platform, the Moja Mrówka mobile app, and solutions supporting product data management. An integral part of these activities was a coherent marketing strategy, based, among other things, on the “Polskie Sklepy” (Polish shops) campaign, which highlighted the Polish origin of the capital, the local roots of the Partners, and the nationwide reach of the network. Cooperation with the brand ambassador – Darek Stolarz – also played an important role in building the expert image of the Grupa PSB’s brands; his authenticity and practical approach reinforced the credibility of the message and engaged customers across various communication channels. Another key element of the activities was the implementation of a PIM system, which streamlined product data management and data taxonomy. 

The network’s development was supported by a comprehensive system of training, consultancy and development services, aimed at professionalising management, enhancing team competencies and standardising operational procedures. A key element of these activities was the Mrówka Manager Academy – a training programme designed to develop the competencies of store management staff. These development activities were complemented by the PSB Data+ Programme, which provides Partners with advanced analytical tools enabling them to make decisions based on current sales and stock data. 

The past year brought an improvement in the Company’s financial results. PSB’s revenue rose to PLN 4.42 billion, and net profit reached PLN 54.9 million, representing an increase of over 18% compared to the previous year. Operating profitability, equity and financial liquidity have increased, whilst the debt ratio has fallen. This confirms the Company’s financial stability and its ability to finance further growth.

In 2025, the Company focused its investment policy on the development of digital solutions and infrastructure modernisation, allocating PLN 6.2 million for this purpose. In 2026, it plans to increase expenditure to PLN 12.2 million, investing primarily in technology, logistics, energy transition and selected operational assets, in line with the new strategy for 2026–2028.

These results would not have been possible without the commitment of our Partners, Employees, Suppliers and Shareholders. We would like to thank the Grupa PSB’s Partners for their entrepreneurship, consistency and loyalty, the Head Office staff for their professionalism and daily work towards the development of the network, and our Suppliers for their trust and long-term cooperation. We would also like to express our appreciation to our Shareholders for their steadfast support of the Grupa’s strategy.

The year 2025 marked the completion of the 2023–2025 strategy, under which we achieved over 90% of our targets. At the same time, we have prepared a new strategy for 2026–2028, focused on further digitalisation, network development, strengthening profitability and building sustainable value for all stakeholders. We are entering the next stage of development with the conviction that PSB’s federated model, based on partnership, scale and modern solutions, remains the best response to market challenges.

Yours faithfully,

The Management Board of the Grupa PSB Handel S.A.

Piotr Kozina
Managing Director

Anna Kaminska
Member of the Management Board

Grzegorz Filipek
Member of the Management Board

The Grupa PSB Handel S.A. is Poland’s largest purchasing group operating in the building materials and home and garden products sector. Its aim is to create the best commercial conditions for its business partners and to effectively strengthen their competitive position in the market. Operating as a “Federation of Owners”, Grupa PSB brings together independent entrepreneurs – the Company’s Partners – enabling them to jointly negotiate more attractive terms with Suppliers and streamline purchasing and logistics processes.

We present the Annual Report summarising the activities of the Grupa PSB Handel S.A. in 2025.

1. The Company’s management, employees and shareholders of the Grupa PSB Handel S.A.

The Management Board of the Grupa PSB Handel S.A. is elected by the General Meeting of Shareholders. In accordance with the decision of the General Meeting of Shareholders in 2022, the Management Board consists of three members and is appointed for a three-year term. The Supervisory Board is the Company’s permanent supervisory body. It comprises seven members elected by the General Meeting of Shareholders for a two-year term. 

In June 2025, following the expiry of the Supervisory Board’s term of office, the General Meeting of Shareholders elected the members of the Supervisory Board for a new term. Following the election, the composition of the Supervisory Board is as follows: Sylwester Bogusz – Chairman, Roman Borucki – Vice-Chairman, members: Piotr Choszcz, Adam Monkiewicz, Bogdan Pazgan, Łukasz Tunkiewicz and Dariusz Żułtak. 

The Company’s operational activities during the reporting period were managed by a three-member Management Board, comprising: Piotr Kozina – Managing Director, Anna Kaminska – Member of the Management Board, and Grzegorz Filipek – Member of the Management Board. The Company was further represented by two authorised signatories – Joanna Raczek and Krzysztof Rybak.

As at 31 December 2025, the Company’s share capital amounted to PLN 53,275,000 and was divided into 53,275,000 registered ordinary shares with a nominal value of PLN 1 each. All of the Company’s shares are non-preference shares. Pursuant to § 10(5) of the Company’s Articles of Association, no shareholder may hold more than 5% of the share capital.

As at the balance sheet date, the Company’s shares were held by 933 shareholders. The largest shareholder was Solbet Sp. z o.o., holding 4.26% of the share capital. The next largest holdings belonged to Solbet Kolbuszowa S.A., Solbet Lubartów S.A. and Solbet Stalowa Wola S.A. – each holding 3.75% of the share capital – as well as SINIAT POLSKA Sp. z o.o. – 2.30%, Etex Building Performance International SAS – 1.32% and VOSTER Sp. z o.o. Sp.k. – 1.13%. The total shareholding of these shareholders amounted to 20.26% of the Company’s share capital.

From an economic perspective, the shareholder structure consisted primarily of customers – trading companies holding 49.78% of the share capital – and suppliers – manufacturers holding 33.19% of the share capital. Employees held a 5.98% stake, whilst other shareholders held 11.05% of the share capital.

In 2025, employment at the Company fell by 2.1% compared with comparable conditions in 2024. At the end of the year, the company employed 467 people (236 women and 231 men). Over half of the employees (52%) held a higher education qualification.

2. The construction market, economic conditions and the Grupa PSB’s results in 2025

Economic conditions in the construction sector in 2025 were characterised by significant variation. On the one hand, increased lending in the mortgage segment supported demand for finishing materials and goods purchased by individual investors. On the other hand, activity in the area of new developer-led and large-scale construction investments remained volatile, which led to varying levels of demand across different product categories.

In 2025, the value of the construction and installation market in Poland reached approximately PLN 389 billion, up 3% on the previous year (according to PMR). At the same time, the building materials distribution sector, in which the Grupa PSB operates, reached a value of approximately PLN 70 billion, recording growth of 1–2% year-on-year (own calculations). The structure of distribution channels was as follows: DIY – 46.8%, building supplies yards– 38.6% and other channels – 14.6%.

As a federation of partner companies, the Grupa PSB ranks first in the entire building materials distribution market in Poland, with revenue of approximately PLN 9.3 billion and a market share of around 13%. It is the only organisation with outlets in both the traditional and modern channels.

In the retail segment, the PSB Mrówka chain’s revenue amounted to PLN 4.4 billion, representing a 4.2% year-on-year increase and securing the chain 4th place in the retail market. This market segment is characterised by a high level of consolidation, as the top five largest players hold approximately 93% of the market share.

In contrast, within the traditional channel (building supplies yards and PSB Profi), revenue amounted to PLN 4.8 billion, enabling the chain to take second place in the market. Concentration is significantly lower in this segment, as the combined market share of the top five players stands at 50.2%.

By the end of 2025, the Grupa PSB comprised over 400 small and medium-sized family-run businesses from across Poland, operating a total of 755 outlets, including: 274 building supply yards, 81 PSB Profi outlets and 400 PSB Mrówka stores. With a presence in around 90% of districts, the Grupa PSB reaches almost every resident of the country. According to a survey conducted in 2025, nearly 80% of respondents recognise at least one brand belonging to the Grupa PSB.

The Grupa’s partners’ revenue amounted to PLN 9.3 billion, representing a 1.9% increase compared to the previous year, taking into account the network’s organic growth and, at the same time, a 1.2% increase on a like-for-like basis. A significant proportion of supplies – approximately 60% – is sourced by the Grupa PSB outlets through the PSB Head Office, whose revenue increased by 4.3%, reaching over PLN 4.4 billion. Each year, the percentage of purchases made by the Head Office rises, leading to standardisation of the product range across outlets.

The average Partner achieved revenue growth of +1.2% year-on-year on a comparable basis, i.e. excluding newly opened outlets, whilst taking network expansion into account, this growth amounted to approximately +1.9%. Broken down by PSB network formats: building supply yards and PSB Profi outlets recorded a combined revenue decline of -0.8% (including building supply yards at -2.3%, whilst Profi grew by +1.9%), whereas PSB Mrówka stores achieved growth of +1.8% compared to the previous year, and with organic growth as high as +4.3%, which is a significantly better result than the market average.

3. Growth strategy

The 2025 financial year marked the conclusion of the strategic cycle implemented between 2023 and 2025, during which the Grupa PSB achieved over 90% of its defined operational targets and completed a total of over 230 strategic and organisational projects. A key element during this period was the close operational integration of the Head Office and entities within the PSB federation, aimed at risk diversification, supply chain optimisation and strengthening operational and financial resilience to market volatility. In parallel, in the second half of 2025, the Management Board developed the framework for a new strategy for 2026–2028, based on seven main strategic portfolios, which was approved by the Supervisory Board at the end of the financial year. 

Activities carried out as part of the completed 2023–2025 cycle focused on five key operational and financial areas.

Digitalisation and system integration

The Company consistently developed its IT architecture, ensuring a secure and efficient flow of data within the supply chain between the Head Office and the entities within the PSB federation. The Electronic Data Interchange (EDI) system was optimised, invoicing processes were automated, and the Extranet and ERP-class systems were modernised. The implementation of Business Intelligence analytical tools, including the Power BI environment, supported ongoing management reporting and data-driven decision-making processes. In parallel, the work environment was integrated based on Microsoft 365, with the implementation of supporting tools, including Copilot, and the launch of the Moja Mrówka mobile app, the PSB Plus programme for contractors, and PSB Data Plus analytical tools for Partners. These measures have resulted in improved data quality, reduced administrative burdens and increased operational efficiency.

Commercial terms

Activities in this area were aimed at safeguarding transactional profitability, improving purchasing efficiency and strengthening the negotiating position of the entities comprising the PSB federation. This was supported by the standardisation of the product range, including the implementation of a ‘3,000 SKU’ structure for the retail network and the application of uniform negotiation standards. The sales policy encompassed the development of targeting, discount segmentation and the implementation of over 820 promotional campaigns. In parallel, the analytical and negotiation skills of category management staff were developed.

Marketing and communication

Marketing and communication expenditure focused on stimulating demand in outlets and strengthening the position of brands operating within the PSB federation. The communication strategy included, amongst other things, the “WSZYSTKO” (EVERYTHING) campaign and the “Polskie Sklepy” (Polish shops) programme – emphasising the domestic origin of the capital and the chain’s nationwide reach. Activities in the B2C segment were supported by a partnership with Dariusz Stolarz and the further development of the PSB Plus loyalty programme. The digitalisation of customer outreach channels was strengthened by the launch of the “Moja Mrówka” mobile app in November 2025. As a result, brand recognition for PSB reached 80%.

Human resources and skills development

In the area of human resources management, the priority remained improving work organisation and developing competencies that support operational efficiency. Employee onboarding procedures were standardised and a training system was developed in key areas such as sales, purchasing negotiations and category management. Operational risk management and selected decision-making processes were further supported by specialised bodies, including the New Suppliers Committee and the Receivables Committee.

Capital and finance

From the perspective of the Company’s stability, the finance function played a key role, focusing on maintaining financial liquidity and controlling operating costs (OPEX). The timely settlement of trade payables supported the security and continuity of the supply chain across the entire structure. In line with the adopted financial model, the Company maintained a net profit margin of between 0.6% and 1.3%, which ensured its ability to service debt and meet the terms of cooperation with financing institutions, whilst retaining the ability to pass on negotiated commercial benefits to business partners affiliated with the PSB federation.

4. Trade and product range structure of the Grupa PSB Handel S.A.

The Company’s logistics model is based on cost efficiency and ensuring security of supply. Approximately 90% of the volume of goods is delivered directly from suppliers to partners, whilst the remaining deliveries are made via central warehouses. This solution helps to reduce storage costs, increase operational efficiency and maintain supply continuity, which is particularly important for a retail network. This model provides key operational support for outlets operating as Centrum budowlane, PSB Profi and PSB Mrówka stores.

In 2025, the Company focused its efforts on safeguarding transactional profitability, improving the efficiency of procurement processes, and strengthening the negotiating position of the companies comprising the Grupa PSB. A key element of these efforts was the further development of the product category management system, which enabled the product range to be better aligned with changing market expectations.

For many years, PSB’s Head Office has offered a very wide range of building materials and home and garden supplies. The Company’s catalogue features 490,000 items, supplied by 550 trusted and reputable manufacturers – recognised as leading players in their respective segments. Such a wide selection of products enables comprehensive supply to both professional contractors and individual customers seeking reliable, modern and durable solutions for their homes and gardens.

In the year under review, there were slight changes in the share of product groups in the Company’s total revenue. The top three remained unchanged – the three key categories maintained their positions. Construction chemicals remain the leader, accounting for 16.0% of revenue. The tools group came second (11.4%), and the garden and hobby group third (10.7%).

The next three categories also retained their previous positions. The wall and chimney group took fourth place (9.0%), thermal insulation came in fifth (8.7%), and paints and varnishes achieved a 5.5% share.  

Noteworthy is the rise of the lighting and electrical category, which moved up to 9th place, achieving a 3.1% share. A significant increase was recorded by the OSB boards and timber group, which gained in importance and rose by as many as 7 places, also achieving a 3.1% share. 

Conversely, the tiles, bathrooms and kitchens group, which previously held 10th place, fell to 13th place, achieving a result of 3.1%. The roofs and gutters group also recorded a drop of 2 places, with a share of 2.2%. The remaining product groups did not record any significant changes in the Company’s revenue structure.

In 2025, 8.24% (i.e. PLN 351 million) of goods turnover with Partners took place via the Company’s two Logistics Centres. Goods worth PLN 205 million were dispatched from the warehouses in Wełecz, and goods worth over PLN 146 million from the facility in Wąbrzeźno. The main recipients from the Logistics Centres are PSB Mrówka and Mini-Mrówka outlets, which account for over 85% of sales.

We continued to sell private label products, available exclusively at PSB outlets. The range included over 700 product lines from 40 suppliers, and total sales reached PLN 82 million.

5. Marketing strategy

The Grupa PSB’s marketing strategy in 2025 focused on further strengthening a strong and unified brand and ensuring consistency of messaging across all communication and distribution channels. A key element of these activities was the consistent building of brand recognition for the Grupa’s brands and the effective integration of nationwide communication with the local activities of Partners.

In the area of communication, initiatives included the “WSZYSTKO” (Everything) campaign and efforts to strengthen the “Polskie Sklepy” (Polish shops) image, emphasising the Polish origin of the capital, the Partners’ strong local roots and the network’s nationwide reach. Activities aimed at individual customers (B2C) were further supported by a partnership with Dariusz Wardziak, known to the general public as “Darek Stolarz”. We launched the modern “PSB Plus” loyalty programme, aimed at contractors. A significant step towards the digitalisation of customer communications was the launch in November 2025 of the “Moja Mrówka” mobile app, which strengthened modern outreach channels, increasing user engagement and the accessibility of the chain’s offering.

The ambassadorial partnership with Darek Stolarz played a significant role in building the expert image of the Grupa PSB’s brands in the construction and interior design sectors. In 2025, the ambassador was involved in numerous communication projects, including wide-reaching formats broadcast on Polsat Group television channels, which enabled the brand to reach new audiences.

At the same time, the process of standardising marketing communications across the entire network continued, providing Partners with access to professional, uniform marketing materials – both visually and in terms of content. These measures enabled more effective local promotional campaigns and the consistent building of a cohesive image for the Grupa PSB’s brands.

The year 2025 was also a period of intensive development of regional activities, carried out in cooperation with Partners and Suppliers, and coordinated and managed centrally by PSB Head Office. As part of these activities, extensive promotional campaigns were conducted on a national and local scale, utilising both traditional media and digital tools, which significantly increased the presence of the Grupa PSB’s brands in the public sphere.

The results of these activities confirmed high levels of brand recognition. In 2025, the PSB brand achieved a recognition rate of nearly 80%, whilst the Grupa PSB’s brands recorded the following results: PSB Mrówka – 73%, Grupa PSB – 60% and PSB Profi – 44%.

Advertising and promotional campaigns
In 2025, the Grupa PSB’s advertising strategy focused on increasing the visibility of PSB’s brands among customers. To effectively achieve this goal, the layout of the marketing agreement for Suppliers was refreshed once again, enriching it with clear descriptions of individual activities and examples of advertising campaigns.

The most important advertising channels for the Grupa PSB’s brands were:

  • television – product and sponsorship adverts, as well as product campaigns supporting the PSB Mrówka promotional leaflet, and the programme ‘Darek Stolarz: Renovation in 3 Days’ broadcast on Polsat and Polsat Cafe,
  • radio – spot campaigns and radio sponsorship, campaigns on “Radio Mrówka”,
  • the „Dołącz do PSB” (“Join PSB”) self-promotional campaign,
  • promotional leaflets,
  • in-house publications – the bimonthly “Głos PSB” (“Voice of PSB”), “Puls PSB”, “Informator Statystyczny” (“Statistical Bulletin”), and the Digital Operations Book (KOS),
  • outdoor advertising,
  • Online – our own websites (www.mrowka.com.pl and www.grupapsb.com.pl), Facebook, Instagram, TikTok, LinkedIn, YouTube, and Google Business Profiles.

Mrówka Marketplace – convenient online shopping within the PSB network
Online shopping is now the norm, and Marketplace Mrówka is a modern platform that meets the real needs of today’s customers. As the official sales platform of the PSB network, available at www.mrowka.com.pl, it enables fast, convenient and secure online shopping – without leaving home.

For customers, this means a wide selection of products, an offering tailored to their expectations, and flexible order fulfilment options. For local PSB Partners, Marketplace Mrówka, in turn, represents a real opportunity to increase sales, reach new customers across Poland, and strengthen their position in the online market – without having to build their own e-shop from scratch.

PSB partners can easily list their product range and sell it to online customers using a ready-made e-commerce infrastructure. By 2025, 200 PSB branches were already selling via the Mrówka Marketplace, confirming the platform’s effectiveness and growing popularity.

Moja Mrówka app 
The Grupa PSB is consistently developing digital solutions aimed at streamlining the purchasing process and enhancing customer convenience. One of the key tools supporting these efforts is the Moja Mrówka mobile app, which provides quick and convenient access to current offers from PSB Mrówka stores across Poland.

The app was launched in November 2025 and enjoyed growing popularity among users. Around 60,000 customers used the solution, and during this period 26,000 transactions with a total value of over PLN 3.2 million were completed via the app. By the end of 2025, the app was available in 245 PSB Mrówka stores, and its reach was being systematically expanded. By the end of December, the number of devices with the app active stood at nearly 23,000.

CBT – Central Product Database
The Central Product Database (CBT) remains a key element of the Grupa PSB’s marketing strategy, supporting the presentation of suppliers’ offers on the www.grupapsb.com.pl and www.mrowka.com.pl platforms. Thanks to a well-organised data structure, a developing taxonomy and the ongoing updating of information, the CBT provides customers with access to reliable product data, supporting the Grupa’s purchasing process as well as its sales and marketing activities.

In 2024, the implementation of the PIM (Product Information Management) system began, alongside the development of structures supporting product data management, including the establishment of the Catalogue and Pricing Department responsible for the development of product processes and data taxonomy.

In 2025, these activities were expanded to include the development of a coherent ecosystem of tools supporting the flow of product data. In addition to the further development of the PIM system, work is underway on the Supplier Portal and the Partner Product Portal, which will ultimately create a unified collaborative environment for data exchange, documentation, logistics and product communication.

Grupa PSB Ambassador – Dariusz Stolarz
Last year, the Grupa PSB established a partnership with Dariusz Wardziak, better known as “Darek Stolarz”, who has served as the brand ambassador since February 2025. His involvement has covered a wide range of activities across many areas – from marketing communications and educational initiatives to image-building and social initiatives.

This collaboration proved exceptionally fruitful and brought tangible benefits to the Grupa PSB. Joint projects significantly contributed to increasing brand recognition, strengthening its position as an industry expert, and building lasting relationships with customers and business partners.

Another key element of the collaboration was participation in Grupa PSB events, during which Dariusz Stolarz actively engaged with customers and business partners. In 2025, he visited as many as 30 branches, which significantly contributed to directly strengthening relationships and increasing audience engagement. 

At the same time, educational projects were developed, including the video series “Do It Yourself with Darek Stolarz”, which has proved very popular with the audience and provides significant support in building the brand’s expert image.

Furthermore, last year saw the premiere of episodes of Darek Stolarz’s original programme, “Darek Stolarz: Renovation in 3 Days”, on Polsat and Polsat Cafe. The production, for which the Grupa PSB was the main sponsor, made its debut on 1 October 2025 and has since attracted viewers’ attention with practical advice, creative projects and a solid dose of renovation inspiration.

Media coverage of PSB
In 2025, the Grupa PSB recorded a record media presence for the second year running. Over the course of the year, a total of 45,900 publications dedicated to the PSB’s brands appeared, representing an increase of 56% compared to 2024 and as much as 141% compared to 2023. This translates to an average of 126 news items per day appearing in national, trade and local media, as well as on social media.

The thematic scope of the publications was very broad and included, amongst other things, the Grupa PSB’s financial results, the market situation, price trends for building materials, the expansion of the PSB network, the implementation of strategic projects, the product range, corporate social responsibility initiatives, and expert commentary from Grupa PSB representatives. Thanks to such an intensive and substantive media presence, the Grupa PSB is strengthening its position as one of the most influential companies in the construction industry.

Grupa PSB trade fairs and conferences
The Grupa PSB’s trade fairs are one of the key elements of the cooperation platform between Suppliers and Partners affiliated with the Grupa PSB. These events enable the presentation of the current product range, the conduct of direct business discussions, and the conclusion of commercial agreements. Holding the trade fairs three times a year facilitates regular meetings between market participants, supporting the building of lasting business relationships and effective cooperation within the Grupa. This initiative makes a significant contribution to boosting trade and developing partnerships within the industry.

The Grupa PSB’s industry conferences are a key pillar of the organisation’s development strategy. Their aim is to provide a space for the exchange of knowledge and experience, and for the presentation of current market trends and innovative solutions. These meetings also serve as a source of inspiration, supporting the development of participants’ skills, motivating them to take on new challenges and implement modern and creative solutions in their day-to-day business activities.

  • PSB Spring Fair

The 23rd edition of the Grupa PSB’s Spring Fair took place on 4 and 5 March at the Kielce Exhibition Centre. In 2025, 300 exhibitors – the Grupa’s contracted suppliers – awaited representatives from 390 PSB Partners. A total of 4,500 people sat down at the negotiating tables and concluded 17,000 contracts worth PLN 470 million, i.e. 9% more than the previous year. This means that the average exhibitor left Kielce with a portfolio of orders worth PLN 1.6 million, whilst the average Partner secured orders worth PLN 1.2 million.This is a clear signal that, despite difficulties in global markets, the construction sector remains one of the cornerstones of the national economy.

The industry conference for the Grupa’s Partners and Suppliers took place on the eve of the trade fair (3 March), attended by over 850 people. Members of the Management Board opened the meeting by presenting global trends, the economic situation worldwide and in Poland, as well as the Grupa PSB’s results. 

One of the key highlights of the programme was the Partners and Suppliers debate, which demonstrated the many benefits of belonging to the PSB network – from stable commercial terms to logistical support and access to modern sales tools. The debate was moderated by the well-known journalist Jarosław Kuźniar.

Also worth highlighting was the lecture by Nikolay Kirov – a trainer, consultant and inspirational speaker – who focused on the biochemistry of negotiation, emphasising the role of psychological and physiological mechanisms in effective business talks. 

The conference also saw the introduction of the new Grupa PSB brand ambassador – Darek Stolarz, a well-known and respected expert in the construction and DIY sectors. 

During the banquet, the Management Board of Grupa PSB Handel S.A. presented awards to the chain’s Partners and Suppliers in recognition of their cooperation in 2024. The evening was enlivened by a concert by the band IRA. 

  • Grupa PSB Autumn Fair

The 11th edition of the Grupa PSB Autumn Fair concluded with record-breaking results. The event attracted many PSB business Partners and Suppliers, becoming an effective platform for concluding transactions. 

The fair, traditionally held online on 3–4 September 2025, brought together over 370 PSB Partners and 92 Suppliers. The two-day event resulted in the signing of 7,500 contracts with a total value of PLN 240 million.

  • Grupa PSB Garden and Decorations Fair

On 18 November 2025, the 8th edition of the Grupa PSB Garden and Decorations Fair took place in Kielce – one of the most important industry events of the autumn season. The event was attended by 272 Partners, 123 exhibitors and a total of 1,550 fair participants. Over 6,600 contracts signed, worth more than PLN 126 million, is the result of our partnership and mutual trust. 

The Fair also provided an opportunity to launch the Digital Transformation Zone at the PSB Head Office stand. It enjoyed very high footfall throughout, and PSB partners were able to speak with experts on the implementation of key digital tools, including the Moja Mrówka app and the PSB Plus loyalty programme. These initiatives represent a further step towards modern and fully omnichannel cooperation between the Grupa PSB and its partners.

The day before the Fair, the Grupa PSB Conference was also held, during which two key issues were discussed: the challenges of succession in family businesses and the launch of the “Moja Mrówka” mobile app, marking an important stage in the Grupa PSB’s digitalisation process. The app attracted considerable interest from participants.

The event was also accompanied by a gala banquet for 1,000 guests, underscoring the exceptional significance of the gathering for the entire PSB community. The evening was graced by a performance from Lanberry, creating an unforgettable atmosphere.

Payback loyalty programme
In 2025, over a million customers took advantage of the PAYBACK promotion in PSB Mrówka stores, making purchases totalling PLN 460 million. These same customers redeemed accumulated points worth PLN 3.6 million to pay for their purchases.

After 12 years of cooperation, there was a change to the way the PAYBACK programme operates within the PSB Mrówka network. From 1st January 2026, the central agreement was terminated, and the decision to participate in the programme is now left to individual PSB Partners.

PSB Marketing Shop
The PSB Head Office marketing shop is a comprehensive support platform for PSB Partners, designed to support the development of sales outlets. Its range includes a wide selection of products, such as: corporate clothing, consumables, shopping bags, marketing merchandise and visual identity elements, which support a consistent brand image and enable effective differentiation in the market.

In 2025, over 672 PSB Partners made use of the Marketing Shop’s range, making purchases totalling PLN 5.8 million.

Awards and distinctions
The year 2025 brought the Grupa PSB Handel S.A. numerous awards and distinctions, confirming the Company’s strong market position and its consistently implemented development strategy. The awards received and high rankings in prestigious national and regional rankings are a testament to the Grupa’s achievements in areas such as business growth, innovation, responsible management, product quality and social engagement. These successes are the result of many years of work by the Grupa PSB’s teams and the network’s Partners, as well as an effective response to changing market conditions.

Among the numerous awards, the following are worth mentioning: “15th Diamond to the Golden Statuette of the Polish Business Leader 2025”, “Ambassador of the Polish Economy”, “Retail Business Awards 2025”,  “Business Champion 2025”, “Well-Regarded Company”, “Blix Awards 2025”, “Tradesman-Friendly Distributor 2025”, “Promoter of the 21st Century 2025”, “Construction Company of the 20 Years of Poland in the EU”, “Industry Personality of the 20 Years”, “Regional Leader 2025”.

6. Corporate Social Responsibility

As a socially responsible entity, the Grupa PSB undertakes numerous initiatives in the field of corporate social responsibility. Its activities focus on supporting local communities, developing education, protecting the natural environment and promoting culture and the arts. The Company’s commitment to CSR is a key element in building the organisation’s sustainable development and strengthening relationships with stakeholders, confirming its role as a responsible market participant.

The Grupa PSB, with strong ties to the Świętokrzyskie region, has for years been involved in social, charitable and cultural activities, carried out at both local and national levels. By collaborating with non-governmental organisations, foundations and associations, the Company provides financial and in-kind support for numerous initiatives.

This support is directed, amongst others, towards educational institutions, children’s homes, hospitals and families facing difficult life circumstances. The Company also participates in selected health-promoting, social and cultural projects of local and regional scope, including acting as the general sponsor of the Krystyna Jamroz Classical Music Festival.

The most important initiatives included:

– nationwide educational campaigns: ‘Safe Way to School’ and ‘Safe Home with Mrówka’,

– Community engagement for children: a St Nicholas Day event at the Care and Education Facility in Winiary, the ‘St Nicholas Courier’ initiative, and at the Świętokrzyskie Paediatric Centre – in the Department of Paediatric Oncology and Haematology in Kielce.

7. Development of the PSB network

The Grupa PSB is Poland’s largest purchasing and sales organisation specialising in the distribution of building and renovation materials. Partners, independent business owners running outlets under the PSB Mrówka, PSB Profi and Grupa PSB brands, benefit from centrally negotiated commercial terms, as well as extensive support in the areas of marketing, IT, logistics and payment security.

The network combines wholesale trade and investment services with a modern retail model, comprising PSB Mrówka, PSB Mini-Mrówka and PSB Mrówka Express. The Grupa PSB Handel ranks second in the wholesale building materials market with a 13.5% share and fourth in the DIY segment, controlling 13% of the market.

The network of modern “PSB Mrówka” stores expanded by 28 new outlets in 2025, reaching a total of 400 stores by the end of the year. These include 305 Mrówka-format stores, 88 Mini-Mrówka outlets and 7 Mrówka Express stores. The chain’s total revenue amounted to PLN 4.4 billion.

Meanwhile, the traditional channel (building supplies yards and PSB Profi) comprised 355 outlets, enabling the Grupa PSB to maintain a strong market position. The network consisted of 274 building supplies yards and 81 PSB Profi outlets, which together generated revenue exceeding PLN 4.9 billion.

In 2026, the Company plans to expand its operations by acquiring new business partners and further expanding its distribution network. This process will be supported by an analysis of areas with insufficient network coverage and an ongoing assessment of acquisition opportunities. These measures aim to increase the scale of operations and strengthen the PSB federation’s market presence.

In the retail segment, the development of the PSB Mrówka network will continue, including formats adapted to local market conditions, such as PSB Mrówka Express. In the B2B segment, the strategy envisages the further development of the PSB Profi format and the continuation of the transformation of traditional building supplies yards into standardised Centrum Budowlane (Construction Centres), tailored to the needs of contractors and professional customers, as well as PSB Express.

8. Training, consultancy and development services

Training
Within the Grupa PSB, the development of partners’ competencies and the professionalisation of their operations constitute one of the key pillars for building the competitive advantage of the entire network. In 2025, these activities were carried out as part of the comprehensive Knowledge Transfer project (KTP), which integrates training, operational consultancy, the exchange of best practices and specialist support for PSB stores and building supplies yards.

As part of the KTP, we deliver both training delivered using internal resources and educational programmes developed in collaboration with external experts. This synergy allows us to combine the Grupa PSB’s up-to-date industry and operational knowledge with the experience of market practitioners, creating a unique, rich development ecosystem for the network’s owners, managers and employees.

The 2025 training programmes covered the full spectrum of areas necessary for running modern and effective retail outlets — from managerial, sales and marketing skills, through IT and e-commerce systems, to formal and legal aspects and digital security. Each of these elements supports Partners in adapting to a rapidly changing market and growing customer expectations.

In 2025, the Mrówka Manager Academy (Akademia Kierownika Mrówki) 2025 was of particular importance – this is a key training programme aimed at building a competent, knowledgeable and effective management team for Mrówka stores. 

AKM 2025 has created a strong community of managers who share knowledge, implement new solutions and actively develop store operating standards. This edition of the Academy significantly strengthened the managerial competencies of the Mrówka chain and was one of the most important elements of PSB’s training programme in 2025.

Consultancy services
Consultancy services within the Grupa PSB are a key complement to training activities, as they enable the theoretical knowledge and tools acquired during training to be directly applied to the day-to-day operations of stores and building supplies yards. Consultancy enables Partners to implement PSB standards, processes and practices in a practical, individualised manner tailored to the needs of a specific unit.

The role of consultancy primarily involves operational, implementation and development support, which is provided directly by Grupa PSB experts — the Development Department, Regional Managers, Head Office Managers and employees of Mrówka stores managed by the Head Office. Thanks to their experience, stores receive practical assistance in optimising operations, modernising sales layouts, analysing processes and implementing modern IT tools.

The scope of PSB’s consultancy is broad and includes, amongst other things:

  • PSB standards, including the implementation of guidelines from the Visual Identity Manual, signage and visual consistency across all store formats (Mrówka, Mini-Mrówka, Mrówka Express, Profi, PSB Building supplies yards);
  • layout and Category Management, i.e. planning a logical and ergonomic shop layout, optimising retail space and improving the customer journey;
  • operational processes, such as team organisation, inventory management and stock turnover, implementation of procedures, performance analysis and improvement of service quality;
  • IT and systems, including support for the implementation and operation of software such as iHurt, Insignum and other digital tools of the Grupa PSB;
  • marketing and e-commerce, i.e. activities related to local promotion, presence on PSB portals, managing the Mrówka Marketplace and online sales.

Data + Programme
The “PSB DATA +” programme – a modern, intuitive and practical tool for internal analysis that supports Partners in their day-to-day work and enables them to make more informed decisions based on up-to-date and reliable data.

Thanks to PSB DATA +, Partners are provided with: full control over stock levels, real-time insight into sales at every branch, and constant access to data, both on computers and mobile devices.

PSB DATA + offers a range of advanced features that significantly streamline data analysis and support business decision-making.

9. SERVICES

Cooperation within the Grupa PSB allows Partners to benefit from economies of scale, which translates into tangible savings and streamlined operational processes. 

As the largest network of wholesale and DIY stores in Poland, the Grupa PSB negotiates joint purchasing and logistics terms, ensuring more favourable prices for materials, services and the infrastructure necessary to run a business. Partners can take advantage of attractive offers on mobile phones, fuel, cars and payment terminals, which translates into real business benefits. We also work with courier, advertising and technology service providers, ensuring comprehensive support for companies within the Grupa.

Economies of scale strengthen the competitiveness of the entire network, enabling the implementation of solutions usually available only to large organisations.

10. Investments and plans for 2026

In 2025, the Company’s investment policy focused on the development of digital solutions, infrastructure modernisation and the safeguarding of key tangible assets, with PLN 6.2 million allocated for this purpose.

The largest portion of expenditure – PLN 2.2 million – was on intangible assets, which were used for the development of IT systems, including the marketplace platform and analytical tools. A key element of these activities was the implementation of a product information management (PIM) system and the development of dedicated mobile applications. 

In the area of tangible fixed assets, net expenditure of PLN 2.6 million was incurred. These investments included the modernisation of the Company’s Head Office facilities and technical infrastructure, as well as projects related to sustainable development (ESG), supporting energy and operational efficiency.

During the reporting period, the Company acquired land with a total area of 1.1 ha, intended to secure opportunities for further infrastructure and logistics development.

The investment programme was supplemented by replacement expenditure on the commercial vehicle fleet, the total net value of which amounted to PLN 0.5 million. 

In 2026, the Grupa PSB Handel S.A. plans to allocate PLN 12.2 million to investment and refurbishment expenditure. The planned expenditure forms part of the implementation of the Company’s development strategy for 2026–2028 and primarily covers investments in technology, logistics, energy transition and the modernisation of selected operational assets.

11. Financial results of the Grupa PSB Handel S.A.

The Grupa PSB Handel S.A. ended the 2025 financial year with an improvement in key financial indicators. Net revenue from the sale of products, goods and materials amounted to PLN 4.42 billion, compared to PLN 4.23 billion in 2024, representing a year-on-year increase of 4.4%. This growth was achieved in a challenging macroeconomic environment and was the result of changes in the product mix as well as measures in the areas of commercial and pricing policy.

The company recorded an improvement in profitability in 2025. Net profit stood at PLN 54.91 million, compared to PLN 46.42 million in 2024, representing an increase of 18.3% year-on-year. Operating profit (EBIT) rose by 13.4% year-on-year. Control of operating costs (OPEX) and improved trading conditions led to an increase in net sales profitability (ROS) to 1.24% and operating profitability to 1.61%. 

Equity increased by 14.2% year-on-year, reaching PLN 317.2 million. At the same time, total liabilities and provisions for liabilities decreased from PLN 533.8 million to PLN 532.4 million. As a result of these changes, the total debt ratio, calculated as the ratio of total liabilities to total assets, fell from 65.8% at the end of 2024 to 62.7% at the end of 2025. The Interest Coverage Ratio (ICR) stood at 6.2.

The current ratio stood at 1.42, whilst the quick ratio was 1.25.

Cash and other monetary assets at the end of the reporting period amounted to PLN 23.0 million, compared to PLN 13.2 million a year earlier, representing an increase of 74.0%. This increase indicates an improvement in the liquidity position and the effectiveness of measures taken in the area of working capital and receivables management.

The results achieved in 2025 confirm an improvement in profitability, an increase in equity, a reduction in debt levels and a strengthening of the Company’s liquidity position. The Grupa PSB Handel S.A. maintains a stable balance sheet structure and the ability to finance its current operating activities and planned capital expenditure in subsequent periods.

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