The Selena Group, a global leader in the production and distribution of construction chemicals and one of the world’s four largest construction foam manufacturers, has continued its upward trend after the first three quarters of 2025, significantly improving its performance in key financial areas. The company generated a gross profit of EUR 27.4 million, representing a year-on-year increase of over 30%. Net profit from continuing operations has also increased noticeably, exceeding EUR 22.1 million after the third quarter — a result 37.2% higher than last year.
The results achieved by the capital company demonstrate its financial stability, a consequence of the cost-effective and competitive business model developed by the Selena Group in recent years. This confirms the effectiveness of the chosen goals and management strategies, particularly given the ongoing financial risks shaping the current business landscape for companies in the construction industry. These risks include the ongoing weak economic situation in the sector in Poland and many other European countries, regulatory unpredictability, inflation, high energy prices and cost pressures.
The latest data from the Central Statistical Office (GUS), which analysed the situation in residential construction after three quarters of 2025, confirms this. The situation of companies in the construction chemicals sector was naturally affected by a year-on-year decline of over 13% in the number of building permits issued, including a drop of over one-fifth for developers, and a decline of over 8% in the number of construction projects started compared to the same period in 2024.
Nevertheless, after three quarters of 2025, the Selena Group increased its gross margin to 34.9%, up from 34.2% in the previous year. The Group’s operating profit (EBIT) was EUR 35.3 million, compared to EUR 28.6 million in the same period of 2024 — a 23.5% year-on-year increase.
What has determined the continuation of this upward trend?
‘The Selena Group’s stable financial results are the result of properly setting and systematically implementing the company’s goals,’ says company president Sławomir Majchrowski. ‘We put a lot of effort into systematically reducing costs, which is facilitated by the growing capabilities of analytical tools. This enables faster business decision-making. We are also constantly optimising production costs by improving the utilisation of production capacity. At the same time, we are shifting our sales structure towards products with higher margins. We are also continuing to work hard on integrating and simplifying processes across the entire group, especially back-office processes, which allows for better use of resources,’ adds the CEO. He also points out that industry stagnation and economic downturns are not a time for companies to stand still, but rather a time to identify and take advantage of opportunities selectively.
Contrary to appearances, economic downturns provide an opportunity to closely examine and analyse the economic situation, identifying underestimated areas, product niches or geographic markets that could become more important,’ notes Aleksander Solski, Member of the Management Board for Finance at the Selena Group. ‘With this in mind, we strive to implement a management policy that combines financial discipline with a readiness to act proactively, especially in the area of innovation and product development and entering new market niches.
This is confirmed by the significant investments made by the Wrocław-based company in recent years, particularly in thermal modernisation. The Management Board of the Selena Group sees this sector as one of the most promising and profitable in the entire construction chain in the coming years (experts estimate that the value of the thermal insulation materials market in Poland will exceed PLN 11 billion in 2025).
As the Selena Group, we recognised this trend several years ago, as reflected in our investment policy. This year’s most significant transaction is an example of this: the acquisition of a controlling stake in IZOLACJA – JAROCIN S.A. and 100% of shares in PHP TES,” says Sławomir Majchrowski. This area of activity also includes the acquisition of the Portuguese bituminous roofing felt manufacturer Imperalum in 2023, as well as the launch of a glass wool factory in the Hungarian city of Szerencs in cooperation with Masterplast.
In the coming years, the company will continue to focus on developing strong, innovative products that respond to the real needs of contractors and distributors. These products will be adapted to local markets and will allow projects to be carried out in accordance with the latest EU and national regulations. For example, the draft amendment to the Technical Conditions is currently at the public consultation stage. In the long term, the changes included in the draft will accelerate the growth of the sector — the market will require modern, energy-efficient and sustainable solutions, primarily for thermal modernisation. The Selena Group is gradually preparing to respond quickly and effectively to this demand.
