ABOUT GRUPA PSB

Summary
Report 2024

The previous year was a time of consistent implementation of our strategy – building a strong position of Polish business based on partnership, cooperation and mutual trust.

“Collaboration, diversity and persistence – these values, deeply rooted in Grupa PSB’s culture are the key to its success.”

GRUPA PSB

as „the forest ecosystem”

Letter of the Management Board

Dear Partners and Suppliers,

We are pleased to present the Annual Report 2024 of Grupa PSB Handel S.A. The previous year was a time of consistent implementation of our strategy – building a strong position of Polish business based on partnership, cooperation and mutual trust. The foundation of our activities is the relationships with Partners and Suppliers, which we consider not only the basis for the effective functioning of Grupa PSB, but above all – a long-term commitment to joint development. We believe that true partnership rests on mutual trust, support, open communication, knowledge sharing and responsibility for common goals. Due to such an approach, we have managed to create a unique ecosystem – a network based on mutual respect and synergy, benefiting all stakeholders. We are proud that in 2024 not only have our relationships with Partners and Suppliers strengthened but also they became a source of inspiration for innovative solutions implementation and effective response to market needs.

In the report, we present the most important aspects of the Company’s operations in 2024 – key financial results, operational achievements and the effects of the implemented strategy, designed for flexible operation.

In 2024, Grupa PSB has been consistently implementing the 2023-2025 development strategy adopted at the Extraordinary General Meeting of Shareholders on November 14th, 2022. The strategy is based on five key pillars: digitalization, trade conditions, marketing and communication, human resources, capital and finance. Their common goal was to strengthen the market position of Grupa PSB, increase operational efficiency and develop the organization in a dynamic economic environment.

The Management Board of Grupa PSB has introduced a new metaphor into the organization’s strategy, based on the analogy of the forest as a leitmotif. The concept emphasizes the interdependence and strength of diversity within the organization – Partners symbolize trees that grow and thrive thanks to a common ecosystem, while Headquarters acts as foresters who take care of the stability, development and health of the entire structure. This approach enables more effective management of cooperation, strengthens synergies as well as fosters sustainable growth based on long-term value and innovation.

Three decalogues have been created: for Partners „Decalogue of Leadership Principles at PSB Headquarters” and „Grupa PSB as Forest Ecosystem”, and for Suppliers, „Decalogue of Negotiation Standards at PSB Headquarters,” which point the directions for development, cooperation and responsibility within the organization and in relations with Partners and Suppliers. Each of these documents contains key principles that promote consistency of action and joint pursuit of set goals.

During the period under review, the composition of the Company’s Management Board has been changed. At the Annual General Meeting of Shareholders in May, a by-election to the Management Board elected Grzegorz Filipek as a Board Member in place of Jacek Kowal. In 2024, the Company had two proxies – Joanna Raczek and Krzysztof Rybak. At the end of 2024, the Stockownership of Grupa PSB Handel S.A. consisted of 942 Shareholders, while 409 trading entities were conducting business (sales and marketing) within Grupa PSB. Together they owned 284 building depots, 78 PSB Profi centres and 379 PSB Mrówka outlets.

Total revenues of Grupa PSB’s Partners in 2024 amounted to PLN 9.1 billion, which is 4.9% higher compared to the previous year. The biggest impact on the construction market in 2024 had a recovery in mortgage loans as well as an increased number of building permits issued and constructions started. Stable demand for new housing and an increased investors’ activity point to a continued positive outlook for the construction sector.

In the year under review, Grupa PSB Handel’s revenue from sales of products and materials amounted to PLN 4.2 billion, recording an increase of 8.5% year-on-year. Grupa’s net profit reached PLN 46.4 million, 37.8% higher year-on-year. Operating profitability has also improved, with net profitability at 1.1% and gross profitability at 1.44%. This provides a solid base for further growth.

The distance between PSB and the DIY giants has clearly narrowed, and the position of Grupa PSB on the market is becoming stronger. The partners running Mrówka outlets are growing faster than the market – while the overall DIY market grew by 1.9 percent year-on-year thanks to organic growth of outlets, PSB Mrówka Partners noted growth of around 7 percent (also including new outlets).

PSB Headquarters has for years offered a wide assortment – about 470,000 items of goods from 540 reputable suppliers – leaders in their respective industries. Such a rich offer enables a comprehensive supply of building materials and products necessary for maintaining the home and garden. Stationary sales are supported by the modern shopping platform – Mrówka Marketplace, available at www.mrowka.com.pl. It allows customers to shop online quickly and conveniently, and gives local Partners a chance to reach a wider audience. As a result, the offer is better customized to modern needs and expectations of customers. And the continued standardization of the product offer under the 3000 SKU project unified the assortment across the PSB Mrówka network, depots and PSB Profi.

Marketing strategy of Grupa PSB in 2024 was focused on building a strong, unified brand and ensuring a consistent message across all communication and distribution channels. The main element of the activities was a comprehensive campaign under the slogan „ALL”, covering both the wholesale and retail sectors. Its purpose was to increase brand awareness and strengthen the position of Grupa PSB as the leader on the construction and renovation market in Poland. Together with Partners and Suppliers, Grupa PSB conducted extensive promotional campaigns – both nationwide and local. A variety of channels were used – from traditional media to digital tools – which made it possible to effectively reach a wide audience and significantly increase the brand’s presence in the public space. The results of these activities were very satisfying – PSB brand recognition reached 80%.

Three editions of the PSB Fair were traditionally held last year, with a total of more than 7,000 participants. Partners placed 30 thousand orders with a total value of PLN 780 million. On the eve of the spring Fair in Kielce, an industry conference was organized for Partners and Suppliers of Grupa PSB. It was attended by almost 700 participants. The program included lectures on such topics as the market situation, the position of Grupa PSB, active sales, pricing and the so-called „math of trust”.

Over the past year, the network has grown rapidly, with 36 new outlets joining the buying and selling group, strengthening its position on the market of building and finishing materials.
At the same time, 15 points of sale were closed. A new outlet format was also launched – PSB Mrówka Express, with a surface of 250 to 400 m2. It responds to the growing needs of customers and fits into the 15-minute city concept, assuming quick and convenient access to basic products. The systematic development of the PSB network confirms its stable growth and increasing trust of customers and business partners.

In 2024, PSB Headquarters implemented a series of training courses and educational meetings to improve the competence of owners, managers and employees of the PSB network. The training program covered a wide range of topics – from sales and marketing, through operation of IT systems, up to legal aspects and data security. The Knowledge Transfer Program promoted shared values, information, skills and ideas in various areas of the organization’s operations. In addition, consulting services were offered to partners to support them in running businesses.

Annual regional business conferences were also held in seven regions of Poland. These meetings provided an important forum for dialogue between the Management Board and Partners. Educational activities for PSB Partners were supplemented by regular online meetings with the Management Board and representatives of the Company’s key departments.

Total capital expenditures of Grupa PSB Handel S.A. in the previous year, amounted to PLN 2.2 million. In 2025, the Company plans to continue the investments it has started, allocating about PLN 4 million for this purpose.

The Company’s revenue from sales of products and materials amounted to PLN 4.2 billion, registering an increase of 8.5% year-on-year. The Grupa’s net profit reached PLN 46.4 million, which is 37.8% higher compared to the previous year. Operating profitability also improved, with net profitability at 1.1% and gross profitability at 1.44%. This provides a solid base for further growth.

We would like to thank all Shareholders, Partners and Suppliers for their trust, support and active participation in building the strong position of Grupa PSB on the market. The year 2024 was a time of dynamic growth, innovative projects and consistent implementation of the strategy, which brought record-breaking financial results. The introduced forest ecosystem philosophy strengthened cooperation and highlighted the power of our diversity. Thanks to our joint commitment, we were able to respond effectively to market challenges and strengthen relationships with Partners. We look to the future with optimism as we continue our investments, network development and digital transformation. Our goal is to continue creating shared values based on trust, responsibility and long-term growth. We believe thanks to this cooperation we can achieve much more.

Best regards

Piotr KOZINA
Dyrektor Zarządu

Anna KAMINSKA
Członek Zarządu

Grzegorz FILIPEK
Członek Zarządu

1. COMPANY’S AUTHORITIES, CAPITAL, EMPLOYEES AND SHAREHOLDERS OF GRUPA PSB HANDEL S.A.

The Management Board of Grupa PSB Handel is elected by the General Meeting of Shareholders. The number of members of the Management Board, appointed for a joint term, is determined by the General Meeting from a range of one to three persons. By the decision of the 2022 Annual General Meeting, the Management Board consists of three members. The Company’s Management Board is elected for a three-year term.

In 2024, the members of the Supervisory Board were Sylwester Bogusz – Chairman of the Board, Dariusz Żułtak – Vice Chairman, and Supervisory Board Members: Piotr Choszcz, Roman Borucki, Paweł Bezak, Bogdan Pazgan, Łukasz Tunkiewicz. The Management Board consisted of: Piotr Kozina – Director of the Board, and Board Members: Anna Kaminska and Jacek Kowal. As of March 29th, 2024, Jacek Kowal resigned from the position of Management Board Member and membership in the Management Board. The General Meeting of Shareholders on May 28th, 2024, in a by-election to the Management Board, elected Grzegorz Filipek as Board Member in place of Jacek Kowal. In 2024, the Company had two proxies – Joanna Raczek and Krzysztof Rybak.

As of December 31st, 2024, the Company’s share capital amounted to PLN 53,275,000 and was divided into 53,275,000 ordinary registered shares at a par value of PLN 1 each. The Company’s shares may only be registered and are not preferance ones. In accordance with the provisions of §10.5 of the Company’s Articles of Association, no Shareholder may hold more than 5% of the Company’s share capital.

At the end of 2024, the shares of Grupa PSB Handel S.A. were held by 942 shareholders, including: 1 foreign company (1.32% of capital), 14 joint-stock companies, 126 limited liability companies, 2 limited joint-stock partnerships, 19 limited liability companies-limited partnerships, 10 limited partnerships, 2 cooperatives, 8 civil partnerships, 64 general partnerships, 696 natural persons.
In other terms, PSB’s stock ownership can be divided into: trade companies – 49.65% of the capital share and number of votes, manufacturers (the Company’s contractual Suppliers) – 33.27% of the capital share and number of votes , and natural persons without business activity – 17.08% of the capital share and number of votes (in this figure 6,02% – Company’s employees).

In 2024 employment in the company was decreased by 2.25% compared to comparable conditions in 2023. At the end of last year the Company employed 477 people (241 women and 236 men). Over a half of the employees (52%) had a university degree.

2. CONSTRUCTION MARKET IN 2024 – SUMMARY AND RESULTS OF GRUPA PSB

In 2024, the value of the construction and assembly production market in Poland was estimated PLN 337 billion, on the same level as in the previous year. The sector of construction materials distribution increased by 1.9% to about PLN 76 billion (according to PMR). Average annual inflation in the industry was 3.6%, and in the construction and assembly sector it was 6.0%. Prices of materials sold by PSB Headquarters decreased by 1.6%.

The market was positively affected by the recovery in mortgage loans and the increase in construction activity. Ca. 203,000 loans worth PLN 85 billion were granted (increment from 162,000 and PLN 63 billion in 2023). Ca. 291,000 building permits were issued (+20.6%) and 234,000 constructions were started (+23.7%). In contrast, the number of housing units completed decreased by 9.3% to 200,000.

At the end of 2024, Grupa PSB consisted of 409 companies with 741 outlets: 284 building depots, 78 PSB Profi centres and 379 PSB Mrówka outlets. Last year, the network expanded by 36 new outlets, increasing the network’s reach to more than 90% of Polish counties. At the same time, 15 points of sale were closed. Market research has shown that brand recognition of Grupa PSB in 2024 reached 80%.

The distance between PSB and the DIY giants has clearly narrowed, and Grupa PSB’s position on the market is becoming stronger and stronger. The partners running Mrówka outlets are growing faster than the market – while the overall DIY market was increased by 1.9 percent year-on-year thanks to organic growth of outlets, PSB Mrówka Partners achieved growth of around 7 percent (also including new outlets).

Total revenues of the Partners of Grupa PSB in 2024 amounted to PLN 9.1 billion, that is 4.9% higher in comparison with the previous year. PSB’s points of sale purchase a significant part of their supplies through PSB Headquarters, thus its revenues increased by 8.5%, reaching the level of PLN 4.2 billion.

3. DEVELOPMENT STRATEGY

In 2024, Grupa PSB has been consistently implementing the 2023-2025 development strategy adopted at the Extraordinary General Meeting of Shareholders on November 14th, 2022. The strategy is based on five key pillars: digitalization, trade conditions, marketing and communication, human resources, and capital and finance. Their common goal is to strengthen market position of Grupa PSB, increase operational efficiency and develop the organization in a dynamic economic environment.

5 pillars of the strategy

1. Digitalization and systems integration

Digitalization was a key element of the development strategy of Grupa PSB, including digitalization, unification and integration of the systems of Partners and the Headquarters. Its main goal was to increase operational efficiency, improve data quality and optimize business processes, directly increasing the competitiveness of the entire organization.

A numerous technological solutions were implemented and expanded in 2024, in this figure further automation of invoicing processes as well as EDI system that improved data exchange between Partners and Suppliers. The Extranet and Portal Promocji were upgraded, and the ERP system was continuously expanded. In addition, Grupa PSB started working on PIM system and mobile application for customers, which improved data and process management.

The development of customer targeting tools has significantly increased the efficiency of sales and promotional activities. At the same time, the implementation of a regional billing system under R1 Order (Zlecenie R1), improved cooperation between Partners and the  Headquarters. An important part of the transformation was also the introduction of an electronic workflow, which reduced paper documentation and accelerated approval processes.

Grupa PSB, within further development of business analytics, implemented modern Business Intelligence (BI) tools based on Power BI. These solutions enabled ongoing key performance indicators monitoring as well as supported data-driven decisive process.

The implemented changes constituted a significant step towards automation and digital transformation of the organization, improving the availability of tools for Partners and streamlining operational processes.

Under this pillar, the following projects were implemented in 2024:
– introduction of MS 365 at PSB Headquarters,
– development of systems: Partner Portal and facility comparison tools,
– redevelopment of the Promotion and Declaration Portal to enable contracting,
– launch of the PIM project,
– redevelopment of 4P classification,
– introduction of electronic labels to the network,
– development of iHurt in cooperation with the Consulting Group,
– conducting a cyber security audit,
– launching preparation for NIS2.

2. Trade conditions

Grupa PSB continued its efforts to improve trade conditions and optimize purchasing and sales processes. Strengthening the role of Category Managers allowed more effective management of product offer.

By strengthening cooperation with suppliers, the company diversified its product range and increased its price competitiveness. As a part of the implemented strategy, more than 820 promotional campaigns were organized, which significantly increased sales growth.

The „3000 SKU” project was continued, unifying the assortment of the PSB Mrówka network, depots and PSB Profi. These activities resulted in PSB’s strengthened market position as well as increased value of purchases made by Partners.

The strategic projects implemented in 2024 under this field were:
– creation of the “PSB Mrówka Express” concept with budgets, layout, assortment structure,
– further improvement of trade conditions in both sales channels,
– continuation of promotional campaigns: hits of the week, this week we recommend, etc..,
– implementation of the negotiation decalogue and standards, negotiation checklist with a draft of negotiation meeting,
– digitalization of terms and conditions and presenting them to Partners in the Partner Portal along with individual terms and conditions
– reconstruction of the Department of Regional Managers together with Business Development Manager position,
– restructuring of logistic centre department – introduction of category management and upgrading to Active Sales Department,
– Marketplace expansion and new functionality for Partners,
– refreshment of private label packaging and adjustment of manufacturers’ contracts to new regulations.

3. Marketing and communication

Marketing strategy of Grupa PSB in 2024 focused on building a strong, consistent brand and ensuring a unified message across all distribution channels. The key element of promotional activities was a comprehensive „ALL” campaign, covering both the wholesale and retail sectors. This campaign effectively strengthened Grupa PSB’s recognition on the market.

As a part of the strategy, the focus was on standardizing marketing communications, which allowed the message to be unified at points of sale and provided Partners with access to ready-made promotional materials.

One of the key innovations was the return of regional activities under the R1 Order.

The process of unifying promotional leaflets has been continued, which resulted in their higher effectiveness in generating traffic in points of sale. In order to increase customer involvement, the PSB Plus loyalty program was implemented, and a new publication, „PSB Plus,” was launched as a source of information about market trends and Grupa’s activities.

In addition, a new Visual Identity Book was introduced to ensure a consistent image of the outlets across the network.

Thanks to the measures taken, PSB’s brand recognition was 80%.

4. Human resources and competence development

In 2024, Grupa PSB has continued to develop employees’ competence by promoting a culture of involvement and participation. Regular Management Committees and trade meetings improved internal communication, while Committees for New Suppliers and Accounts Receivable played an important role in the selection and evaluation process of cooperation with contractors.

Onboarding process of new employees has been improved, and an extensive training program in sales, negotiation, category management, law, foreign languages as well as IT systems operation has been implemented.

5. Capital and finance

In 2024, Grupa PSB maintained financial stability, focusing on cost optimization and timely payments to Suppliers. Net profitability of 1.09% allowed Grupa PSB to maintain its creditworthiness and financial security.

Financial transparency and accounting security were key elements of the strategy, ensuring the continued growth of the organization.

Decalogues of Grupa PSB

In 2024, Management Board of Grupa PSB introduced a new metaphor, based on the analogy of a forest as a leitmotif. The concept emphasizes the interdependence and power of diversity within the organization – Partners are portrayed as trees that grow and thrive thanks to a common ecosystem, while the Headquarters acts as foresters ensuring the stability, development and health of the entire structure. This approach enables more effective management of cooperation, strengthens synergies as well as fosters sustainable growth based on long-term value and innovation.

In 2024, Grupa PSB Handel S.A. created three decalogues that established the directions for development, cooperation and responsibility within the organization as well as in relations with Partners and Suppliers. Each of the documents is a set of key principles that support the consistency of actions and the pursuit of common goals.

The Decalogue of Leadership Principles at the PSB Headquarters emphasizes the importance of passion, responsibility, innovation and high standards in daily work. These principles support building a strong organizational culture and achieving the best results.

The PSB Headquarters’ Decalogue of Negotiation Standards addressed to Suppliers promotes ethical, professional and transparent principles of cooperation. Its purpose is to strengthen long-term relationships based on trust and shared values.

The „Forest Ecosystem” decalogue is based on the metaphor of a natural ecosystem, where interaction and diversity build strength and resilience. It refers to a partnership model of cooperation, integrating both small companies and large enterprises.

4. TRADE EXCHANGE AND ASSORTMENT STRUCTURE OF GRUPA PSB HANDEL S.A.

In 2024, the strategy of proactive sales management and trade conditions optimization was continued, focusing both on negotiating more favorable terms of cooperation with suppliers and streamlining purchasing and sales processes. A key element of these activities was the further improvement of the product category management structure, which made it possible to better adapt the offer to the dynamically changing market needs. The development of the positions of Category Managers allowed better management of product groups and adaptation of the offer to market needs.

The PSB Headquarters has for years offered the widest in the country assortment of building materials and equipment for house and garden. Its catalog includes about 470,000 products, supplied by more than 540 reputable manufacturers, leaders in their respective industries. Such a rich offer enables the comprehensive supply of both professionals in the construction industry and individual customers looking for high-quality solutions for their homes and gardens.

The year under review brought the following changes in the share of commodity groups in the Company’s overall revenues. Three leading positions remained unchanged. Construction chemicals were first with a revenue share of 15.6%. Tools group came second (11.7%), and garden, hobby category (10.8%) – the third. It worths noticing that the walls and chimneys category moved up to the 4th position, reaching 8.9% share. At the same time, the thermal insulation group, previously ranked fourth, dropped to the 5th place with 8.3% share.

In 2024, 7.6% (i.e., PLN 330.7 million) of goods exchange with Partners was conducted through the Company’s two Logistic Centers. Goods worth PLN 193.9 million were shipped from the warehouses in Wełecz, and goods worth more than PLN 136.8 million were shipped from the facility in Wąbrzeźno. The main customers from the Logistic Centers are the PSB Mrówka and Mini-Mrówka outlets, which account for more than 85% of sales.

We continued to sell private label products, available exclusively at PSB network outlets. The offer included more than 700 assortment items from 35 Suppliers, and the total sales value reached PLN 83 million.

5. MARKETING STRATEGY

Marketing strategy of Grupa PSB in 2024 focused on building a strong, unified brand and ensuring a consistent message across all communication and distribution channels. The centerpiece of those activities was a comprehensive campaign under the slogan „ALL”, covering both the wholesale and retail sectors. For the traditional channel (PSB Profi centres and wholesalers) the slogan is: professionally, fast, close ALL, and for the modern channel (PSB Mrówka outlets): simply, fast, close ALL. The purpose of the campaign was to increase brand recognition and strengthen the position of Grupa PSB as the leader on the construction and renovation market in Poland.

An important aspect of the strategy was the standardization of marketing communications across the network, which allowed Partners to benefit from professionally prepared materials – both visually and in terms of content. This made it possible to conduct local promotional campaigns more effectively and create a consistent brand image in customers’ perception.

Together with Partners and Suppliers, Grupa PSB conducted broad promotional campaigns – both nationwide and local. A variety of channels were used – from traditional media to digital tools – which made it possible to effectively reach a wide audience and significantly increase the brand’s presence in the public space.

The results of these activities were very satisfying – PSB brand recognition reached 80%. Equally high results were recorded by the brands belonging to PSB: PSB Mrówka – 77%, Grupa PSB – 58%, PSB Profi – 48%.

Advertising and promotional campaigns

In 2024, the advertising strategy of Grupa PSB was focused on increasing the visibility of PSB brands among customers. In order to effectively accomplish this goal, the layout of the marketing agreement for Suppliers was refreshed, enriching it with clear descriptions of individual activities and examples of advertising campaigns.

The most important advertising channels for brands of Grupa PSB were:

  • TV – product and sponsorship ads and product campaigns supporting the PSB Mrówka promotional leaflet,
  • Radio – spot campaigns and radio sponsorships, campaigns on „Radio Mrówka”,
  • Promotional leaflets
  • Own publications – bi-monthly magazine “Głos PSB”(Voice of PSB), “Puls PSB” („Pulse of the PSB”), “Informator Statystyczny” (Statistical Informant),
  • Outdoor advertisement
  • Internet – own websites (www.mrowka.com.pl and www.grupapsb.com.pl), Facebook, Instagram, TikTok, Linkedin, YouTube channel, Partners’ Google profiles, dedicated campaigns.
  • Advertisements in horizontal portals.
Mrówka Marketplace

Online shopping is becoming increasingly popular, and Mrówka Marketplace is a modern platform that meets the expectations of customers. It is the official sales platform of the PSB network, available at www.mrowka.com.pl, which enables quick and convenient online shopping. It allows local Partners to reach a wider audience of customer. As a result, the offer is better customized to modern customer’s needs and expectations.

Through the e-commerce platform, PSB Partners can display their own assortment for sale to online customers.
In 2024, 200 PSB outlets were conducting sales through the Mrówka Marketplace.

The ordered products may be collected in person, in a shop or delivered by courier.

CBT – Central Product Database

The Central Product Database (CBT) is a key element of the marketing strategy of Grupa PSB. Its role is to effectively promote Suppliers’ offers through their presence on the Grupa’s main websites – www.grupapsb.com.pl and www.mrowka.com.pl.

Thanks to its clear structure, proper taxonomy and ongoing updating, CBT significantly supports customers’ purchasing process, enabling them to quickly access complete, reliable and up-to-date product information. This form of offer presentation builds a positive user experience, increases user involvement and strengthens loyalty to the PSB brand.

Development of product processes and information infrastructure (2024-2025)

In 2024-2025, Grupa PSB has been focused on creating modern structures to support the development and management of Product Base. A key element of this transformation is the implementation of the Product Information Management System (PIM), which purpose is to standardize and optimize the entire product process in Grupa PSB.

As a part of this initiative, in 2024 a PIM project was launched, which includes both a workshop phase and full implementation of the Pimcore system.

The implementation of the PIM project lays the foundation for further digitalization and integration of product data, and strengthens Grupa PSB’s position as a leader of modern solutions in the building materials distribution sector.

Media about Grupa PSB

In 2024, Grupa PSB noted a record-breaking media presence. Almost 30,000 publications related to PSB brands were published – a 54% increase compared to 2023. This means that  averagely 82 pieces of information appeared in the media each day.

The publications covered a wide range of topics related to the construction industry, including changes in the prices of building materials, sales results, the market situation and key events in Grupa PSB, such as the implementation of the omnichannel strategy. This makes Grupa PSB one of the most opinion forming companies in the industry.

Fairs and Conferences of Grupa PSB

The Fair of Grupa PSB is a unique platform where Suppliers can present their offers, establish business relationships and conclude agreements with Partners associated in Grupa PSB. Such events are organized three times a year and enable creation of lasting and effective relationships in the industry. Such initiatives effectively support the development of trade and cooperation among market participants.

Industry conferences of Grupa PSB are one of the pillars of the organization’s strategy. They enable participants to exchange knowledge and experience, learn about the latest trends and innovations as well as they constitue a valuable source of inspiration. They foster motivation to take on new challenges and implement creative solutions in daily operations.

Presently there are three such events during a year:

• Spring Fair of Grupa PSB

The 22nd edition of the PSB’s Spring Fair took place on February, 28th-29th at the Targi Kielce exhibition center in Kielce. The PSB Fair is one of the key industry events in Poland – it is regarded as a kind of barometer of the market mood at the beginning of the construction season. In 2024, 305 exhibitors – the Grupa’s contractual suppliers – awaited the representatives of 370 PSB Partners. Together, 4,300 people paricipated in the negotiating process and concluded 16,000 contracts worth PLN 430 million, i.e. 9% more than a year ago.

On the eve of the PSB Fair, an industry conference was held for the Grupa’s Partners and Suppliers. Nearly 700 people had the opportunity to listen to lecture of PSB Management Board: Piotr Kozina – Board Director and Anna Kaminska – Board Member about the market picture and PSB’s position as well as of the other speakers on active sales, pricing and trust math. PSB’s annual conferences provide additional constructive knowledge for participants. They are educational in nature and their purpose is to exchange know- how.

As every year, a banquet attended by several thousand people is organised on the occasion of the Fair. This year, during the banquet, Partners and Suppliers, as well as Kielce city officials were granted the statuettes  in recognition of their cooperation in 2023.

Grupa PSB is also a creator of cultural life. Music star Agnieszka Chylińska performer during the banquet.

• Autumn Fair of Grupa PSB

Another annual event is the Autumn Fair, its 10th edition was traditionally held online, on September 4th-5th, allowing participants to meet on the Zoom platform. The event was attended by more than 360 Partners of the PSB network, who negotiated with 85 Suppliers. As a result, more than 6,700 contracts were signed with a total value of PLN 224 million, 17% higher than a year ago.

• Garden and Decoration Fair of Grupa PSB

On November 14th, 2024, the 7th edition of PSB Garden and Decorations Fair took place in Kielce. The event was attended by more than 250 Partners of the PSB network and 112 Suppliers, who presented a wide and varied product range. Attractive purchasing conditions resulted in impressive results – during the fair nearly 6,300 contracts were concluded with a total value of PLN 123 million, an increase of 16% compared to the previous year.

The day before the fair, a festive banquet attended by more than 1,000 guests took place. The evening was highlighted by a concert of Blue Café band, which created an unforgettable atmosphere and a perfect background for the integration of the event’s participants.

Live meetings with Partners

In 2024, in line with its strategy and transparency principles, the Company continued its innovative form of online meetings with Partners, using Live Chats as a key communication and collaboration tool.

This state-of-the-art solution streamlines information exchange, enabling fast, interactive and personalized communication. Partners were able to stay informed about current activities and plans, as well as actively participate in discussions and exchange of ideas – both with the Headquarters and among themselves.

Payback loyalty program

For 10 years, Mrówka market network has participated in the PAYBACK multipartner loyalty program. In 2024, the outlets issued more than 350,000 new program cards with the PSB Mrówka logo. In total, program participants completed about 5 million transactions for almost PLN 600 million.

In 2024, we continued the promotion called „Cheaper with PAYBACK Card,” noticing the strong sales and marketing effect of this initiative. The promotions covered by this communication were not only visible in our newspapers, but also supported by PAYBACK’s communication tools – website, mobile app, SMS and email campaigns.

Marketing store of PSB

PSB Headquarters’ marketing store is a place created for our Partners, where they can purchase a wide range of products to support their businesses. It offers, among other things, corporate apparel, supplies, shopping bags, marketing gadgets, and indoor and outdoor visualization elements that help distinguish points of sale.

In 2024, some 662 PSB Partner points of sale made purchases from our marketing store on the total sum of PLN 5.2 million.

Awards and prizes

The year 2024 was extremely fruitful for Grupa PSB Handel in terms of achievements and recognition both domestically and internationally. The Company has been awarded numerous prestigious prizes that confirm its strong market position, innovation, social responsibility and high standards of management and quality. The titles and awards recognize the Grupa’s dynamic growth, effective leadership and commitment in building a strong brand and relationships with customers and business partners.

Among the numerous awards are: „Kotler Awards 2024” in the „Commercial Brand” category, „Well Seen Company”, „Blix Awards 2024”, „Kozminski’s Lion”, „Builder Super Power”, „Employer – Organizer of Safe Work”, „Fourteenth Diamond to the Golden Statuette of the Polish Business Leader”, „Distributor Friendly to Professionals”, „Construction Company of the Year 2023”, „Industry Personality 2023”, „Ambassador of the Polish Economy”.

6. CORPORATE SOCIAL RESPONSIBILITY

Grupa PSB, as a socially responsible entity, is actively involved in corporate social responsibility initiatives, focusing its activities on supporting local communities, developing education, protecting the environment and promoting culture and the arts. The goal of Grupa PSB is to create long-term and real changes that positively affect the environment in which it operates.

As a company with strong roots in the Świętokrzyskie region, Grupa PSB consistently supports social, charitable and cultural initiatives both locally and nationwide. It is involved in numerous projects in cooperation with NGOs, foundations and associations, offering both financial and in-kind support. Grupa PSB supports educational institutions, children’s homes, hospitals and families in difficult life situations by participating in renovations as well as modernization of public buildings, providing building materials and organizing charity fundraisers. Activities of Grupa PSB also focus on supporting those affected by natural disasters and on initiatives improving the living conditions of local communities.

A particularly significant example of the PSB’s commitment was its assistance to those affected by the flood that hit the regions of Silesia, Opole and Lower Silesia. Grupa PSB immediately organized support, sending several transports with the necessary aid to those most in need.

An important aspect of PSB’s activities is also its involvement in the development and promotion of culture. Grupa PSB serves as a general sponsor of the Krystyna Jamroz Classical Music Festival, an event of exceptional importance for the region, attracting both established artists and young talents.

Grupa PSB also takes active measures to protect the environment and implements a sustainable development strategy, reducing the consumption of raw materials and minimizing the impact of operations on the ecosystem.

7. DEVELOPMENT OF PSB NETWORK

Grupa PSB is Poland’s largest buying and selling organization specializing in the distribution of building materials. It operates under a model similar to franchising, though based on partnership cooperation. Independent entrepreneurs operating outlets under the PSB Mrówka, PSB Profi and PSB Składy Budowlane brands benefit from trade terms negotiated by the Headquarters as well as payment security and support in marketing, IT and other key areas. In this way, they retain their autonomy while benefiting from the trade scale and PSB’s experience in purchasing, logistics and trade.

The network combines wholesale trade and investment services with a modern retail sales model, including PSB Mrówka, PSB Mini-Mrówka and PSB Mrówka Express. Grupa PSB Handel ranks second in the building materials wholesale market with a 19% share and third in the DIY segment, controlling 13% of the market.

Grupa PSB, continuing its organic expansion in 2024, has launched a new outlet format – PSB Mrówka Express, with a surface of 250 to 400 m2. This is in response to the growing needs of customers and the 15-minute city trend, where access to essential products should be quick and convenient.

Mrówka, Mini-Mrówka and Mrówka Express Shops

The network of modern markets „PSB Mrówka” in 2024 expanded by 20 new stores, reaching a total of 379 outlets at the end of the year. Among them are 293 Mrówka stores, 83 Mini Mrówka stores and 3 Mrówka Express stores. The network’s total revenues amounted to PLN 4.3 billion.

The network’s total sale area is more than 632,000 m2, and it employs more than 8,300 workers. The statistical Mrówka outlet has a surface of 1,667 m2, with Mrówka Express format not exceeding 400 m2 and Mini Mrówka – up to 800 m2. Shops larger than 800 m² operate under Mrówka brand. Depending on their size, the oulets offer from several to tens of thousands of products necessary for renovation and maintainance of houses, flats and gardens.

Presently, Mrówka outlets operate in 70% of Poland’s counties. A further expansion of the network with about 30 new shops is planned for 2025.

PSB Profi outlets and warehouses

At the end of 2024, there were 362 points of sale in the traditional channel, allowing Grupa PSB to maintain a strong market position. The network included 78 PSB Profi centres and 284 building depots, which together generated revenues exceeding PLN 4.8 billion.

During this period, 14 new outlets were opened in the traditional channel. Presently, PSB Profi centres and building depots are present in 56% counties in Poland. In 2025, the sales network in the traditional channel will expand by at least five new building depots.

8. TRAININGS, CONSULTING SERVICES AND LIVE MEETINGS IN GRUPA PSB
Trainings

In 2024, Grupa PSB Handel conducted a series of training courses and educational meetings which purpose was to improve the competence of owners, managers, employees of the PSB network. The training programs covered a variety of business areas – from sales and marketing, through IT systems operation, to legal aspects and information security.

Thanks to training courses, participants were able to improve their skills and adapt to changing market requirements. At the same time, the knowledge gained is a support for the success of their organization in a dynamic business environment.

Last year, Grupa PSB organized the following trainings:

  • Trade Marketing Academy,
  • MS Excel – Level I (Basic),
  • Social media marketing (Facebook, Instagram, Google Business Cards),
  • Online meeting about Mrówka Marketplace,
  • E-commerce setup and operation,
  • Insignum iHurt program support,
  • Sales and customer service training,
  • Legal service of complaints – in accordance with the new consumer law,
  • IT security – governance and best practices,
  • PSB Academy of Negotiation – conducted by Nikolay Kirov,
  • Crop protection products – basic level,
  • Active sales and customer acquisition,
  • Antitrust training.

The training courses realized by Grupa PSB in 2024 responded to the current market and operational needs of our partners. Their purpose was not only to improve the competence of employees, but also to support the entire network in dynamic development as well as to perfect services and increase competitiveness on the market.

A total of 1,486 people participated in these trainings, with a total training time of more than 540 hours.

Development and consulting services

Grupa PSB pursues a Knowledge Transfer Program, which involves sharing values, information, skills and ideas in various areas of the organization. The purpose is to inspire innovation and increase effectiveness of the undertaken activities. The process involves people sharing their knowledge with other company’s employees.

The company provides consulting services to outlets in the Modern and Traditional Channels. This consulting is carried out by a team of PSB specialists, including: Employees of the Development Department, Regional Managers, Headquarters’ Managers, Employees of own Mrówka outlets.

Grupa PSB has been pursuing the goals of this program for years, effectively disseminating the accumulated knowledge to standardize operational processes and increase the efficiency of PSB members. To optimize the consulting process, we identify specific knowledge, skills and lessons to be transferred. These include:

  • Standards – Visual Identity System (SIW), Layout, Category Management, formats of activities within PSB Brands.
  • Best practices – operating procedures, analytics.
  • Innovation – PSB portals, e-commerce, social media, B2B communications and others.
  • Technical expertise – IT, equipment, infrastructure.
Regional Conferences with Partners

The annual regional conferences of Partners and the Management Board of Grupa PSB Handel S.A. held in seven regions of the country, took place in April/May 2024. These meetings are one of the key events in the calendar of our organization, being an important forum for dialogue between the Board and Partners.

The conferences were an opportunity to comprehensively summarize the results achieved in 2023, discuss the most important issues related to the current operation of the Company, as well as present plans and strategies for the coming months. Together we analyzed the successes achieved so far and identified areas requiring further development. The meetings were of a closed nature – only members of the Management Board and our Partners participated, which fostered an open and constructive exchange of opinions.

The Headquarters’ meetings with Partners – live

In 2024, there were regular live meetings with Partners with the Company’s Management Board, representatives of the Traditional and Modern Channels as well as the key departments: E-commerce, Marketing, Development, Sales Support and others.

The meetings were well attended and provided an important platform to exchange information and discuss key topics related to Grupa PSB functioning.

9. SERVICES FOR PARTNERS AND SUPPLIERS

Grupa PSB, as the largest network of wholesalers and DIY stores in Poland, uses the effect of scale to provide its Partners with favorable purchasing and logistic conditions. Through joint negotiations, we secure better prices of building materials, services and infrastructure necessary for our business. Despite financial savings, cooperation within Grupa PSB allows optimization of operational processes, such as logistics, IT and payment systems. Partners can take advantage of attractive offers of cell phones, fuel, cars or payment terminals, which results in real business benefits. We also cooperate with courier, advertising and transportation service providers, taking care of comprehensive support for PSB companies.

10. INVESTMENTS AND PLANS FOR 2025

Grupa PSB Handel invested PLN 2.2 million in fixed assets in 2024, focusing on infrastructure modernization, development of technical facilities and optimization of owned facilities.

The largest part of the outlays – PLN 1.9 million – was the purchase of machinery, equipment, furnishings and means of transportation, aimed at increasing operational efficiency and improving logistic processes. As part of the modernization of hotel infrastructure, the tennis court at the Słoneczny Zdrój Hotel was rebuilt, for which PLN 236,000 was spent, thus raising the standard of the facility’s services.

In 2025, Grupa PSB Handel will continue to invest in infrastructure development and key facilities modernization. Planned capital expenditures will range from PLN 3.6 million to PLN 4.43 million, depending on the scope of work to be carried out.

11. FINANCIAL RESULTS OF THE GRUPA PSB HANDEL S.A.

Grupa PSB Handel ended 2024 with very good financial results, confirming the stability and effectiveness of its development strategy. Sales revenues amounted to PLN 4.23 billion, an increase of 8.5% year-on-year, while net profit increased by 37.8%, reaching PLN 46.42 million. Such dynamic growth was the result of consistent expansion of the sales network, effective purchasing policy and optimization of business processes. Grupa PSB maintains its leading position in the distribution of building materials, and the results for 2024 confirm its ability to continue to grow and increase value for shareholders and business partners.

The biggest achievement in 2024 was a significant increase in profitability, which resulted in a record-breaking financial result. Net profit reached by Grupa PSB was PLN 46.42 million, an increase of 37.8% compared to 2023, when it amounted to PLN 33.69 million. Grupa PSB improved its operating profitability, achieving a net profitability of 1.1% and a gross profitability of 1.44%. These results were gained thanks to a consistent growth strategy that combines market expansion with costs control and skillful management of the purchasing structure.

The debt ratio dropped from 69.9% to 65.8%, and debt-to-equity ratio increased to 52.0%, indicating an improved financing structure. Interest coverage with profit improved from 8.1% to 11.4%, confirming Company’s ability to comfortably service its financial obligations.

Liquidity ratios show stabilization: quick liquidity increased to 63,3%, and current liquidity remains at 1.52. These results indicate the maintenance of adequate liquidity reserves and the ability to settle current liabilities without risking financial stability.

Working capital increased by 13.5% to PLN 277.7 million, confirming an increase in operating efficiency.

Analysis of asset turnover shows effective management of the operating cycle: the receivables cycle is 36 days, the inventory cycle is 19 days, and the payables turnover is 47 days. Human factor profitability has increased to 16.7%, and return on capital has reached 5.7%.

Despite its rapid growth, Grupa PSB recognizes the challenges of the construction sector, such as increasing competition and a volatile macroeconomic environment. The company effectively manages its credit and liquidity risks, which ensures its financial stability.

In summary, 2024 was a period of Grupa PSB’ growth and its market position strengthening. Record-breaking net profit, improved financial ratios and a stable capital situation provide a solid base for further development. The company enters 2025 with a strong position, ready to expand and invest in technological development and the sales network. In the face of a changing market environment, Grupa PSB is demonstrating its ability to adapt quickly and take advantage of emerging opportunities, which allows for an optimistic outlook for the years ahead.

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