G 
12.90
-1.15%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 1.21bn
FY2016FY2025
Net income
PLN 22.2m
FY2016FY2025
Free cash flow
PLN 76.8m
FY2016FY2025
Shareholders' equity
PLN 876.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 1.21bn | PLN 1.10bn | PLN 1.03bn | PLN 1.27bn | PLN 1.33bn | PLN 1.16bn | PLN 1.18bn | PLN 1.11bn | PLN 1.10bn | PLN 1.09bn |
| Gross profit | PLN 392.1m | PLN 385.7m | PLN 300.2m | PLN 412.9m | PLN 543.3m | PLN 474.4m | PLN 423.4m | PLN 370.5m | PLN 396.8m | PLN 426.9m |
| Research and development | PLN 636,000 | PLN 4.0m | PLN 2.5m | PLN 2.9m | PLN 2.3m | PLN 2.9m | PLN 2.1m | PLN 2.8m | PLN 1.6m | PLN 2.1m |
| Operating income | PLN 46.7m | PLN 71.5m | PLN 10.9m | PLN 61.3m | PLN 178.6m | PLN 142.3m | PLN 84.2m | PLN 72.5m | PLN 98.7m | PLN 144.4m |
| Net income | PLN 22.2m | PLN 50.2m | −PLN 60.6m | PLN 89.5m | PLN 110.8m | PLN 49.6m | PLN 35.2m | PLN 34.5m | PLN 77.0m | PLN 110.4m |
| Diluted earnings per share | 0.93 | 2.11 | -2.53 | 3.74 | 4.63 | 2.09 | 1.47 | 1.44 | 3.22 | 4.62 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 1.37bn | PLN 1.48bn | PLN 1.44bn | PLN 1.48bn | PLN 1.44bn | PLN 1.47bn | PLN 1.57bn | PLN 1.65bn | PLN 1.48bn | PLN 1.17bn |
| Cash and short-term investments | PLN 68.3m | PLN 114.6m | PLN 31.1m | PLN 19.8m | PLN 28.7m | PLN 88.2m | PLN 54.5m | PLN 46.7m | PLN 53.0m | PLN 96.0m |
| Total liabilities | PLN 487.7m | PLN 550.8m | PLN 513.7m | PLN 608.3m | PLN 642.6m | PLN 675.8m | PLN 789.8m | PLN 1.04bn | PLN 846.1m | PLN 621.6m |
| Debt | PLN 248.6m | PLN 355.4m | PLN 360.7m | PLN 415.0m | PLN 351.5m | PLN 412.4m | PLN 557.6m | PLN 688.4m | PLN 574.0m | PLN 413.8m |
| Shareholders' equity | PLN 876.8m | PLN 928.0m | PLN 907.8m | PLN 855.8m | PLN 792.2m | PLN 793.6m | PLN 781.2m | PLN 610.3m | PLN 632.6m | PLN 549.2m |
| Shares outstanding | 24m | 24m | 24m | 24m | 24m | 24m | 24m | 24m | 24m | 24m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 100.5m | PLN 109.2m | PLN 78.6m | PLN 1.5m | PLN 146.4m | PLN 165.1m | PLN 198.3m | PLN 76.8m | PLN 72.6m | PLN 190.6m |
| Capital spending | −PLN 23.7m | −PLN 10.1m | −PLN 48.2m | −PLN 32.6m | −PLN 36.0m | −PLN 22.0m | −PLN 23.7m | −PLN 193.8m | −PLN 276.2m | −PLN 241.1m |
| Free cash flow | PLN 76.8m | PLN 99.1m | PLN 30.4m | −PLN 31.1m | PLN 110.4m | PLN 143.1m | PLN 174.6m | −PLN 117.0m | −PLN 203.5m | −PLN 50.5m |
| Dividends paid | −PLN 2,000 | −PLN 2,000 | — | −PLN 38.3m | −PLN 95.7m | −PLN 1,000 | −PLN 95.7m | — | −PLN 4.8m | −PLN 23.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 288.4m | PLN 350.9m | PLN 308.3m | PLN 280.3m | PLN 269.9m | PLN 329.0m | PLN 293.6m | PLN 228.1m |
| Gross profit | PLN 77.8m | PLN 99.8m | PLN 99.4m | PLN 102.5m | PLN 101.1m | PLN 119.0m | PLN 107.0m | PLN 77.4m |
| Operating income | −PLN 18.9m | −PLN 9.2m | PLN 10.2m | PLN 25.4m | PLN 23.7m | PLN 35.7m | PLN 21.9m | PLN 4.8m |
| Net income | −PLN 23.0m | −PLN 31.1m | PLN 7.7m | PLN 34.4m | PLN 11.2m | PLN 28.6m | PLN 19.5m | PLN 13.4m |
| Diluted earnings per share | -0.96 | -1.30 | 0.32 | 1.44 | 0.47 | 1.20 | 0.82 | 0.56 |
| Cash from operations | — | PLN 25.0m | PLN 19.0m | PLN 12.0m | PLN 43.0m | PLN 25.0m | PLN 39.0m | PLN 15.0m |
| Capital spending | −PLN 9.0m | −PLN 6.0m | −PLN 5.0m | −PLN 8.0m | −PLN 5.0m | −PLN 3.0m | −PLN 3.0m | −PLN 2.0m |
| Free cash flow | — | PLN 19.0m | PLN 14.0m | PLN 4.0m | PLN 38.0m | PLN 22.0m | PLN 36.0m | PLN 13.0m |
| Total assets | PLN 1.33bn | PLN 1.37bn | PLN 1.35bn | PLN 1.38bn | PLN 1.41bn | PLN 1.48bn | PLN 1.47bn | PLN 1.48bn |
| Cash and short-term investments | PLN 46.5m | PLN 61.9m | PLN 68.3m | PLN 73.1m | PLN 107.2m | PLN 114.6m | PLN 105.2m | PLN 84.2m |
| Debt | PLN 205.0m | PLN 213.4m | PLN 217.3m | PLN 237.0m | PLN 286.0m | PLN 320.8m | PLN 345.2m | PLN 355.9m |
| Shareholders' equity | PLN 853.1m | PLN 876.8m | PLN 925.3m | PLN 924.2m | PLN 913.4m | PLN 928.0m | PLN 910.9m | PLN 905.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.7% | 0.8% | 2.4% |
| Operating income | -8.7% | -20.0% | -7.2% |
| Net income | -37.2% | -14.8% | -12.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 33.7% | 32.3% | 35.3% | 35.7% |
| Operating margin | 5.1% | 4.1% | 7.2% | 8.1% |
| Net margin | 3.1% | 2.2% | 3.7% | 4.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 25.4 | 12.9 | -9.0 | 5.4 | 9.0 | 19.6 | 20.7 | 15.8 | 15.6 | 16.4 |
| Price to sales | 0.5 | 0.6 | 0.5 | 0.4 | 0.8 | 0.8 | 0.6 | 0.5 | 1.1 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Sept 2022.
| FY2022 | FY2021 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.00 | 4.00 | 0.20 | 1.00 | 2.00 | 1.50 | 0.95 | 0.75 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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