A 
22.30
-4.09%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 1.70bn
FY2017FY2025
Net income
PLN 9.3m
FY2017FY2025
Free cash flow
PLN 220.7m
FY2017FY2025
Shareholders' equity
PLN 233.1m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 1.70bn | PLN 1.51bn | PLN 1.26bn | PLN 973.4m | PLN 683.5m | PLN 409.5m | PLN 311.2m | PLN 220.8m | PLN 145.0m |
| Operating income | PLN 33.9m | PLN 13.8m | PLN 40.0m | PLN 48.7m | PLN 36.4m | PLN 22.1m | PLN 4.4m | −PLN 7.3m | −PLN 7.8m |
| Net income | PLN 9.3m | −PLN 10.0m | PLN 20.2m | PLN 25.9m | PLN 22.9m | PLN 8.5m | PLN 10.9m | −PLN 8.3m | −PLN 8.9m |
| Diluted earnings per share | 0.49 | -0.53 | 1.05 | 1.00 | 1.31 | 0.51 | 0.71 | -0.43 | -0.46 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 886.9m | PLN 844.2m | PLN 771.0m | PLN 578.0m | PLN 398.5m | PLN 242.5m | PLN 207.3m | PLN 111.1m | PLN 85.0m |
| Cash and short-term investments | PLN 63.2m | PLN 46.8m | PLN 87.7m | PLN 49.7m | PLN 23.0m | PLN 22.6m | PLN 13.2m | PLN 8.5m | PLN 6.0m |
| Total liabilities | PLN 653.9m | PLN 620.7m | PLN 537.4m | PLN 410.8m | PLN 261.4m | PLN 177.9m | PLN 153.0m | PLN 76.0m | PLN 57.6m |
| Debt | PLN 286.8m | PLN 273.9m | PLN 277.5m | PLN 211.9m | PLN 108.3m | PLN 107.4m | PLN 98.4m | PLN 33.1m | PLN 26.9m |
| Shareholders' equity | PLN 233.1m | PLN 223.5m | PLN 233.5m | PLN 167.1m | PLN 137.1m | PLN 64.6m | PLN 54.2m | PLN 35.1m | PLN 27.3m |
| Shares outstanding | 19m | 19m | 19m | 26m | 17m | 17m | 15m | 19m | 19m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 223.3m | PLN 193.5m | PLN 103.7m | PLN 46.9m | −PLN 17.9m | PLN 15.3m | −PLN 2.4m | −PLN 14.9m | −PLN 21.1m |
| Capital spending | −PLN 2.6m | −PLN 15.0m | −PLN 10.7m | −PLN 16.6m | −PLN 14.5m | −PLN 5.4m | −PLN 4.3m | −PLN 2.7m | −PLN 1.8m |
| Free cash flow | PLN 220.7m | PLN 178.5m | PLN 93.0m | PLN 30.3m | −PLN 32.4m | PLN 9.9m | −PLN 6.6m | −PLN 17.6m | −PLN 22.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 436.3m | PLN 378.7m | PLN 556.1m | PLN 393.7m | PLN 399.3m | PLN 352.5m | PLN 532.7m | PLN 344.0m |
| Operating income | PLN 21.8m | PLN 4.1m | PLN 10.2m | PLN 8.7m | PLN 14.3m | PLN 4.0m | PLN 36.7m | −PLN 3.9m |
| Net income | PLN 8.3m | −PLN 6.8m | PLN 1.3m | PLN 1.4m | PLN 2.9m | PLN 3.7m | PLN 18.6m | −PLN 6.8m |
| Diluted earnings per share | 0.43 | -0.36 | 0.07 | 0.08 | 0.15 | 0.19 | 0.98 | -0.36 |
| Cash from operations | PLN 101.0m | −PLN 20.0m | PLN 179.0m | PLN 68.0m | PLN 70.0m | −PLN 82.0m | PLN 168.0m | PLN 13.0m |
| Capital spending | — | — | — | −PLN 3.0m | — | −PLN 2.0m | −PLN 4.0m | −PLN 5.0m |
| Free cash flow | — | — | — | PLN 65.0m | — | −PLN 84.0m | PLN 164.0m | PLN 8.0m |
| Total assets | PLN 848.2m | PLN 855.0m | PLN 886.9m | PLN 936.6m | PLN 860.0m | PLN 922.6m | PLN 844.2m | PLN 883.9m |
| Cash and short-term investments | PLN 30.9m | PLN 18.0m | PLN 63.2m | PLN 18.9m | PLN 21.8m | PLN 25.7m | PLN 46.8m | PLN 18.0m |
| Debt | PLN 204.1m | PLN 200.8m | PLN 192.5m | PLN 244.6m | PLN 230.9m | PLN 226.6m | PLN 145.7m | PLN 204.9m |
| Shareholders' equity | PLN 234.7m | PLN 226.4m | PLN 233.1m | PLN 232.0m | PLN 230.0m | PLN 227.2m | PLN 223.5m | PLN 204.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.5% | 33.0% | — |
| Operating income | -11.4% | 8.9% | — |
| Net income | -28.9% | 1.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 53.2 | -50.8 | 28.3 | 26.8 | 23.8 |
| Price to sales | 0.3 | 0.3 | 0.5 | 0.7 | 0.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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