A 
20.70
-0.96%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 205.6m
FY2016FY2025
Net income
PLN 14.1m
FY2016FY2025
Free cash flow
PLN 33.0m
FY2016FY2025
Shareholders' equity
PLN 158.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 205.6m | PLN 240.1m | PLN 260.0m | PLN 270.5m | PLN 206.3m | PLN 185.2m | PLN 222.7m | PLN 237.4m | PLN 194.4m | PLN 184.9m |
| Gross profit | PLN 62.0m | PLN 76.6m | PLN 72.3m | PLN 85.4m | PLN 66.8m | PLN 67.5m | PLN 80.7m | PLN 87.9m | PLN 69.6m | PLN 65.8m |
| Research and development | — | — | — | PLN 96,000 | — | — | PLN 890,000 | — | — | — |
| Operating income | PLN 17.5m | PLN 32.5m | PLN 31.5m | PLN 43.4m | PLN 29.8m | PLN 36.8m | PLN 46.9m | PLN 49.6m | PLN 39.4m | PLN 37.4m |
| Net income | PLN 14.1m | PLN 28.2m | PLN 28.5m | PLN 36.4m | PLN 24.1m | PLN 30.9m | PLN 38.2m | PLN 39.0m | PLN 30.7m | PLN 30.2m |
| Diluted earnings per share | 1.54 | 3.07 | 3.15 | 3.61 | 2.39 | 3.10 | 3.87 | 3.98 | 3.16 | 3.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 235.0m | PLN 214.4m | PLN 223.2m | PLN 213.1m | PLN 205.9m | PLN 196.9m | PLN 174.8m | PLN 166.4m | PLN 150.1m | PLN 131.1m |
| Cash and short-term investments | PLN 7.5m | PLN 3.3m | PLN 3.2m | PLN 1.9m | PLN 3.2m | PLN 2.4m | PLN 2.4m | PLN 4.7m | PLN 17.7m | PLN 5.3m |
| Total liabilities | PLN 76.2m | PLN 69.7m | PLN 79.1m | PLN 62.5m | PLN 71.5m | PLN 64.5m | PLN 60.1m | PLN 54.6m | PLN 53.7m | PLN 41.2m |
| Debt | PLN 48.5m | PLN 37.1m | PLN 44.3m | PLN 17.2m | PLN 35.5m | PLN 33.8m | PLN 21.8m | PLN 4.5m | PLN 24.5m | PLN 6.9m |
| Shareholders' equity | PLN 158.8m | PLN 144.7m | PLN 144.1m | PLN 150.6m | PLN 134.4m | PLN 132.4m | PLN 114.7m | PLN 111.8m | PLN 96.4m | PLN 89.9m |
| Shares outstanding | 9m | 9m | 9m | 10m | 10m | 10m | 10m | 10m | 10m | 10m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 37.4m | PLN 41.5m | PLN 16.4m | PLN 43.5m | PLN 27.6m | PLN 18.8m | PLN 41.6m | PLN 50.7m | PLN 31.5m | PLN 37.3m |
| Capital spending | −PLN 4.4m | −PLN 3.6m | −PLN 6.1m | −PLN 5.6m | −PLN 9.1m | −PLN 14.3m | −PLN 23.7m | −PLN 21.6m | −PLN 10.3m | −PLN 7.9m |
| Free cash flow | PLN 33.0m | PLN 37.9m | PLN 10.2m | PLN 38.0m | PLN 18.5m | PLN 4.6m | PLN 17.9m | PLN 29.1m | PLN 21.2m | PLN 29.3m |
| Dividends paid | — | −PLN 27.6m | — | −PLN 20.1m | −PLN 22.2m | −PLN 18.4m | −PLN 38.9m | −PLN 24.5m | −PLN 26.2m | −PLN 48.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 58.6m | PLN 47.8m | PLN 42.4m | PLN 53.4m | PLN 54.1m | PLN 55.7m | PLN 46.1m | PLN 60.5m |
| Gross profit | PLN 18.7m | PLN 15.2m | PLN 12.0m | PLN 15.1m | PLN 15.7m | PLN 19.2m | PLN 15.9m | PLN 19.4m |
| Operating income | PLN 6.4m | PLN 4.7m | PLN 14,000 | PLN 4.9m | PLN 4.4m | PLN 8.1m | PLN 4.0m | PLN 8.6m |
| Net income | PLN 5.5m | PLN 4.6m | PLN 372,000 | PLN 4.0m | PLN 2.9m | PLN 6.9m | PLN 3.7m | PLN 6.6m |
| Diluted earnings per share | 0.60 | 0.50 | 0.04 | 0.43 | 0.31 | 0.75 | 0.40 | 0.72 |
| Cash from operations | PLN 6.0m | PLN 8.0m | PLN 16.0m | PLN 11.0m | PLN 3.0m | PLN 6.0m | — | PLN 4.0m |
| Capital spending | — | −PLN 1.0m | −PLN 1.0m | −PLN 1.0m | — | −PLN 1.0m | −PLN 1.0m | — |
| Free cash flow | — | PLN 7.0m | PLN 15.0m | PLN 10.0m | — | PLN 5.0m | — | — |
| Total assets | PLN 236.4m | PLN 234.3m | PLN 235.0m | PLN 253.8m | PLN 222.8m | PLN 224.2m | PLN 214.4m | PLN 218.9m |
| Cash and short-term investments | PLN 3.4m | PLN 2.1m | PLN 7.5m | PLN 7.7m | PLN 5.2m | PLN 4.6m | PLN 3.3m | PLN 7.0m |
| Debt | — | PLN 36.3m | PLN 48.5m | PLN 62.9m | PLN 32.8m | — | — | — |
| Shareholders' equity | PLN 169.0m | PLN 163.5m | PLN 158.8m | PLN 158.5m | PLN 154.5m | PLN 151.6m | PLN 144.7m | PLN 141.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.7% | 2.1% | 2.1% |
| Operating income | -26.2% | -13.8% | -6.8% |
| Net income | -27.0% | -14.5% | -6.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 31.1% | 30.4% | 31.5% | 33.5% |
| Operating margin | 11.2% | 12.8% | 14.0% | 16.8% |
| Net margin | 9.5% | 11.0% | 11.9% | 13.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.3 | 9.7 | 8.3 | 8.5 | 12.5 | 11.3 | 12.1 | 10.8 | 13.0 | 13.5 |
| Price to sales | 1.0 | 1.1 | 0.9 | 1.1 | 1.5 | 1.9 | 2.1 | 1.8 | 2.0 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 May 2024.
| FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.00 | 2.00 | 2.20 | 1.85 | 3.94 | 2.50 | 2.70 | 5.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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