B 
6.90
+0.58%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 1.74bn
FY2016FY2025
Net income
PLN 638,442
FY2016FY2025
Free cash flow
−PLN 5.9m
FY2016FY2025
Shareholders' equity
PLN 306.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 1.74bn | PLN 1.82bn | PLN 2.04bn | PLN 2.75bn | PLN 2.26bn | PLN 1.21bn | PLN 1.30bn | PLN 1.37bn | PLN 1.13bn | PLN 820.0m |
| Gross profit | PLN 12.3m | PLN 129.0m | PLN 122.1m | PLN 307.9m | PLN 361.3m | PLN 113.9m | PLN 95.9m | PLN 119.2m | PLN 117.0m | PLN 103.4m |
| Research and development | — | PLN 1.2m | PLN 1.2m | PLN 238,900 | PLN 30,672 | PLN 30,672 | PLN 30,672 | PLN 30,672 | PLN 30,672 | PLN 30,672 |
| Operating income | PLN 6.5m | PLN 4.7m | PLN 35.4m | PLN 174.7m | PLN 228.1m | PLN 28.3m | PLN 18.6m | PLN 32.6m | PLN 39.5m | PLN 44.0m |
| Net income | PLN 638,442 | −PLN 10.5m | PLN 13.2m | PLN 109.6m | PLN 150.9m | PLN 17.1m | PLN 3.1m | PLN 11.4m | PLN 18.5m | PLN 21.1m |
| Diluted earnings per share | 0.04 | -0.62 | 0.68 | 5.61 | 7.73 | 0.88 | 0.16 | 0.58 | 0.95 | 1.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 546.0m | PLN 541.8m | PLN 568.7m | PLN 631.1m | PLN 676.4m | PLN 419.2m | PLN 413.9m | PLN 481.8m | PLN 395.6m | PLN 363.6m |
| Cash and short-term investments | PLN 9.4m | PLN 14.3m | PLN 34.1m | PLN 19.3m | PLN 9.3m | PLN 7.8m | PLN 3.6m | PLN 1.5m | PLN 9.1m | PLN 8.3m |
| Total liabilities | PLN 231.2m | PLN 227.2m | PLN 241.8m | PLN 296.3m | PLN 410.3m | PLN 300.6m | PLN 309.0m | PLN 375.8m | PLN 296.8m | PLN 269.5m |
| Debt | PLN 22.7m | PLN 11.9m | PLN 20.6m | PLN 74.1m | PLN 92.4m | PLN 127.6m | PLN 118.3m | PLN 99.3m | PLN 89.0m | PLN 66.2m |
| Shareholders' equity | PLN 306.6m | PLN 306.5m | PLN 318.8m | PLN 326.3m | PLN 259.7m | PLN 114.6m | PLN 101.3m | PLN 102.5m | PLN 95.4m | PLN 90.9m |
| Shares outstanding | 17m | 17m | 20m | 20m | 20m | 20m | 20m | 20m | 20m | 20m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 1.1m | PLN 17.1m | PLN 120.7m | PLN 88.0m | PLN 40.2m | PLN 39.9m | PLN 9.3m | PLN 11.6m | PLN 8.0m | PLN 19.2m |
| Capital spending | −PLN 7.1m | −PLN 8.1m | −PLN 9.4m | −PLN 3.1m | −PLN 7.8m | −PLN 5.3m | −PLN 8.6m | −PLN 7.6m | −PLN 6.2m | −PLN 6.7m |
| Free cash flow | −PLN 5.9m | PLN 9.0m | PLN 111.3m | PLN 84.9m | PLN 32.3m | PLN 34.6m | PLN 691,422 | PLN 4.0m | PLN 1.9m | PLN 12.6m |
| Dividends paid | — | −PLN 1.7m | −PLN 20.5m | −PLN 43.0m | −PLN 2.1m | −PLN 2.1m | −PLN 530,066 | −PLN 1.8m | −PLN 1.8m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 458.2m | PLN 418.1m | PLN 387.0m | PLN 436.7m | PLN 476.0m | PLN 444.9m | PLN 443.3m | PLN 468.3m |
| Gross profit | PLN 17.9m | PLN 17.5m | PLN 8.8m | −PLN 4.9m | PLN 38.7m | PLN 36.4m | PLN 29.1m | PLN 32.4m |
| Operating income | PLN 16.7m | PLN 15.6m | PLN 7.5m | −PLN 6.2m | PLN 3.7m | PLN 3.4m | PLN 4.3m | −PLN 1.4m |
| Net income | PLN 8.7m | PLN 10.0m | PLN 13.4m | −PLN 11.1m | PLN 278,369 | −PLN 1.9m | PLN 3.2m | −PLN 7.5m |
| Diluted earnings per share | 0.44 | 0.51 | 0.79 | -0.65 | 0.02 | -0.11 | 0.19 | -0.44 |
| Cash from operations | −PLN 11.0m | PLN 29.0m | −PLN 14.0m | PLN 6.0m | PLN 2.0m | PLN 13.0m | PLN 7.0m | PLN 39.0m |
| Capital spending | −PLN 1.0m | −PLN 2.0m | — | −PLN 3.0m | −PLN 2.0m | −PLN 1.0m | −PLN 4.0m | −PLN 1.0m |
| Free cash flow | −PLN 12.0m | PLN 27.0m | — | PLN 3.0m | PLN 0 | PLN 12.0m | PLN 3.0m | PLN 38.0m |
| Total assets | PLN 604.0m | PLN 611.4m | PLN 546.0m | PLN 562.8m | PLN 606.9m | PLN 574.2m | PLN 541.8m | PLN 544.8m |
| Cash and short-term investments | PLN 14.2m | PLN 28.8m | PLN 9.4m | PLN 18.4m | PLN 18.3m | PLN 20.4m | PLN 14.3m | PLN 15.2m |
| Debt | PLN 5.3m | PLN 6.0m | PLN 11.9m | PLN 6.2m | PLN 2.5m | PLN 4.7m | PLN 6.0m | PLN 4.7m |
| Shareholders' equity | PLN 325.3m | PLN 316.7m | PLN 306.6m | PLN 293.8m | PLN 304.9m | PLN 304.6m | PLN 306.5m | PLN 303.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.1% | 7.7% | 8.6% |
| Operating income | -66.5% | -25.4% | -0.4% |
| Net income | -82.0% | -48.2% | -5.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.0% | 6.8% | 8.9% | 9.0% |
| Operating margin | 0.3% | 2.7% | 4.0% | 3.6% |
| Net margin | -0.3% | 1.4% | 2.4% | 2.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 116.9 | -5.8 | 10.2 | 1.8 | 1.1 | 3.6 | 11.2 | 4.7 | 4.1 | 3.8 |
| Price to sales | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Jul 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.60 | 3.12 | 0.12 | 0.03 | 0.10 | 0.10 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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