B 
6,180.00
+0.41%
Close of 9 Nov 2026, in PLN
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At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 4.52bn
FY2016FY2025
Net income
PLN 570.9m
FY2016FY2025
Free cash flow
PLN 572.0m
FY2016FY2025
Shareholders' equity
PLN 2.36bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 4.52bn | PLN 3.40bn | PLN 2.77bn | PLN 1.91bn | PLN 954.9m | PLN 1.03bn | PLN 1.53bn | PLN 1.22bn | PLN 964.8m | PLN 742.0m |
| Gross profit | PLN 1.53bn | PLN 1.21bn | PLN 930.7m | PLN 517.1m | PLN 180.9m | PLN 218.5m | PLN 408.2m | PLN 338.0m | PLN 265.7m | PLN 205.4m |
| Research and development | — | PLN 37.2m | PLN 28.3m | PLN 14.0m | — | PLN 10.0m | PLN 7.4m | PLN 1.5m | — | — |
| Operating income | PLN 724.7m | PLN 627.0m | PLN 565.1m | PLN 212.8m | PLN 17.6m | −PLN 71.5m | PLN 155.5m | PLN 157.0m | PLN 121.4m | PLN 95.3m |
| Net income | PLN 570.9m | PLN 449.6m | PLN 439.6m | PLN 138.1m | −PLN 23.9m | −PLN 98.7m | PLN 105.3m | PLN 114.6m | PLN 88.1m | PLN 82.8m |
| Diluted earnings per share | 173.68 | 150.54 | 149.87 | 47.09 | -8.37 | -36.00 | 38.43 | 40.89 | 34.49 | 32.91 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 7.14bn | PLN 3.42bn | PLN 2.80bn | PLN 2.23bn | PLN 2.18bn | PLN 2.04bn | PLN 2.08bn | PLN 1.09bn | PLN 762.0m | PLN 569.4m |
| Cash and short-term investments | PLN 622.1m | PLN 309.5m | PLN 434.0m | PLN 218.3m | PLN 253.0m | PLN 223.8m | PLN 72.2m | PLN 85.1m | PLN 52.6m | PLN 65.2m |
| Total liabilities | PLN 4.77bn | PLN 2.26bn | PLN 1.80bn | PLN 1.51bn | PLN 1.58bn | PLN 1.52bn | PLN 1.46bn | PLN 521.7m | PLN 542.2m | PLN 327.2m |
| Debt | PLN 3.24bn | PLN 1.70bn | PLN 1.12bn | PLN 1.04bn | PLN 1.16bn | PLN 1.19bn | PLN 1.13bn | PLN 190.8m | PLN 216.9m | PLN 166.0m |
| Shareholders' equity | PLN 2.36bn | PLN 1.15bn | PLN 996.8m | PLN 727.0m | PLN 603.7m | PLN 524.5m | PLN 618.6m | PLN 564.7m | PLN 202.0m | PLN 224.9m |
| Shares outstanding | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 1.13bn | PLN 962.3m | PLN 830.5m | PLN 439.7m | PLN 240.6m | PLN 222.1m | PLN 379.9m | PLN 140.0m | PLN 139.2m | PLN 117.4m |
| Capital spending | −PLN 557.4m | −PLN 256.3m | −PLN 158.4m | −PLN 122.7m | −PLN 74.1m | −PLN 53.8m | −PLN 129.0m | −PLN 90.5m | −PLN 111.7m | −PLN 37.1m |
| Free cash flow | PLN 572.0m | PLN 706.0m | PLN 672.0m | PLN 316.9m | PLN 166.4m | PLN 168.3m | PLN 250.8m | PLN 49.5m | PLN 27.4m | PLN 80.3m |
| Dividends paid | — | −PLN 399.4m | −PLN 120.8m | −PLN 1.6m | −PLN 1.7m | −PLN 770,000 | −PLN 569,000 | −PLN 222,000 | −PLN 663,000 | −PLN 1.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 1.46bn | PLN 1.38bn | PLN 1.29bn | PLN 1.18bn | PLN 1.09bn | PLN 952.0m | PLN 915.4m | PLN 835.9m |
| Gross profit | PLN 524.9m | PLN 445.5m | PLN 442.1m | PLN 450.8m | PLN 392.7m | PLN 288.4m | PLN 336.8m | PLN 314.1m |
| Operating income | PLN 278.5m | PLN 241.0m | PLN 216.6m | PLN 283.4m | PLN 202.0m | PLN 104.2m | PLN 168.6m | PLN 183.9m |
| Net income | PLN 222.2m | PLN 229.6m | PLN 159.3m | PLN 211.9m | PLN 142.9m | PLN 56.7m | PLN 114.6m | PLN 134.0m |
| Diluted earnings per share | 67.31 | 69.54 | 48.47 | 64.49 | 43.48 | 17.25 | 38.36 | 44.87 |
| Cash from operations | PLN 422.0m | PLN 378.0m | PLN 442.0m | PLN 334.0m | PLN 199.0m | PLN 175.0m | PLN 317.0m | PLN 243.0m |
| Capital spending | −PLN 122.0m | −PLN 151.0m | −PLN 228.0m | −PLN 148.0m | −PLN 130.0m | −PLN 120.0m | −PLN 149.0m | −PLN 62.0m |
| Free cash flow | PLN 300.0m | PLN 227.0m | PLN 214.0m | PLN 186.0m | PLN 69.0m | PLN 55.0m | PLN 168.0m | PLN 181.0m |
| Total assets | PLN 7.79bn | PLN 7.51bn | PLN 7.14bn | PLN 6.32bn | PLN 6.03bn | PLN 4.48bn | PLN 3.42bn | PLN 3.10bn |
| Cash and short-term investments | PLN 709.7m | PLN 599.1m | PLN 622.1m | PLN 724.2m | PLN 774.8m | PLN 1.25bn | PLN 309.5m | PLN 361.6m |
| Debt | PLN 1.77bn | PLN 1.75bn | PLN 2.12bn | PLN 1.69bn | PLN 1.71bn | PLN 1.40bn | PLN 657.3m | PLN 277.8m |
| Shareholders' equity | PLN 2.55bn | PLN 2.66bn | PLN 2.36bn | PLN 2.24bn | PLN 2.03bn | PLN 1.25bn | PLN 1.15bn | PLN 1.02bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 33.9% | 35.6% | 33.6% | 27.1% | 18.9% | 21.1% | — | — |
| Operating margin | 16.0% | 18.5% | 20.4% | 11.1% | 1.8% | -6.9% | — | — |
| Net margin | 12.6% | 13.2% | 15.8% | 7.2% | -2.5% | -9.5% | — | — |
| Return on equity | 24.2% | 38.9% | 44.1% | 19.0% | -4.0% | -18.8% | — | — |
| Return on assets | 8.0% | 13.1% | 15.7% | 6.2% | -1.1% | -4.8% | — | — |
| Free cash flow yield | 10.1% | 8.0% | 6.6% | 3.8% | 2.2% | 2.0% | — | — |
| Revenue growth | 33.1% | 22.5% | 45.3% | 99.9% | -7.6% | -32.3% | — | — |
| Earnings growth | 27.0% | 2.3% | 218.3% | -679.0% | -75.8% | -193.7% | — | — |
| Current ratio | 0.76x | 0.65x | 0.86x | 0.76x | 0.66x | 0.77x | — | — |
| Debt to equity | 0.74x | 0.57x | 0.26x | 0.34x | 0.68x | 0.84x | — | — |
| Equity ratio | 33.0% | 33.8% | 35.6% | 32.5% | 27.7% | 25.7% | — | — |
| Interest coverage | 3.60x | 11.70x | 15.29x | 7.79x | 0.83x | -3.67x | — | — |
| R&D as a share of sales | — | 1.1% | 1.0% | 0.7% | — | 1.0% | 0.5% | 0.1% |
| Buybacks as a share of market value | -10.0% | -1.8% | 0.0% | -2.9% | -4.0% | -0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 33.3% | 34.3% | 22.8% |
| Operating income | 50.5% | — | 29.4% |
| Net income | 60.5% | — | 27.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.6% | 33.2% | 31.5% | 30.4% |
| Operating margin | 17.1% | 16.9% | 14.2% | 13.6% |
| Net margin | 12.9% | 12.7% | 10.1% | 9.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 20.2 | 19.2 | 13.0 | 15.8 | -76.0 | -23.2 | 22.9 | 20.6 | 33.9 | 21.0 |
| Price to sales | 2.5 | 2.5 | 2.1 | 1.1 | 1.9 | 2.2 | 1.6 | 1.9 | 3.1 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 13 Sept 2024.
| FY2024 | FY2023 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|
| Paid in the year | 135.00 | 41.00 | 9.00 | 8.00 | 7.50 | 6.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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