G 
4.19
-3.68%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 1.05bn
FY2016FY2025
Net income
PLN 35.4m
FY2016FY2025
Free cash flow
PLN 17.5m
FY2016FY2025
Shareholders' equity
PLN 175.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 1.05bn | PLN 869.1m | PLN 878.6m | PLN 886.5m | PLN 575.8m | PLN 532.4m | PLN 418.9m | PLN 346.9m | PLN 260.5m | PLN 106.7m |
| Gross profit | PLN 203.7m | PLN 164.9m | PLN 171.1m | PLN 156.4m | PLN 107.6m | PLN 90.6m | PLN 84.4m | PLN 77.7m | PLN 61.6m | PLN 24.4m |
| Research and development | — | — | — | — | — | PLN 99,000 | PLN 178,000 | — | — | — |
| Operating income | PLN 82.6m | PLN 48.4m | PLN 68.0m | PLN 49.1m | PLN 17.7m | PLN 15.3m | PLN 10.5m | PLN 21.2m | PLN 14.6m | PLN 8.7m |
| Net income | PLN 35.4m | −PLN 88.1m | PLN 1.8m | PLN 9.1m | PLN 12.5m | −PLN 3.0m | −PLN 2.3m | PLN 6.4m | PLN 5.8m | PLN 18.2m |
| Diluted earnings per share | 0.47 | -1.24 | 0.02 | 0.12 | 0.17 | -0.04 | -0.03 | 0.09 | 0.08 | 0.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 1.04bn | PLN 937.5m | PLN 960.4m | PLN 1.00bn | PLN 908.5m | PLN 648.8m | PLN 692.7m | PLN 492.0m | PLN 454.0m | PLN 392.4m |
| Cash and short-term investments | PLN 25.6m | PLN 21.0m | PLN 27.5m | PLN 55.8m | PLN 41.5m | PLN 12.3m | PLN 34.8m | PLN 20.7m | PLN 12.9m | PLN 12.7m |
| Total liabilities | PLN 834.9m | PLN 764.6m | PLN 699.1m | PLN 739.3m | PLN 663.9m | PLN 413.4m | PLN 459.3m | PLN 277.9m | PLN 242.0m | PLN 170.1m |
| Debt | PLN 455.2m | PLN 405.0m | PLN 430.9m | PLN 414.5m | PLN 370.5m | PLN 238.1m | PLN 264.3m | PLN 188.0m | PLN 131.8m | PLN 100.4m |
| Shareholders' equity | PLN 175.6m | PLN 112.7m | PLN 208.0m | PLN 212.6m | PLN 197.9m | PLN 192.1m | PLN 194.8m | PLN 189.5m | PLN 187.3m | PLN 171.2m |
| Shares outstanding | 75m | 71m | 75m | 75m | 75m | 75m | 75m | 75m | 75m | 75m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 40.2m | PLN 47.7m | PLN 92.1m | PLN 66.9m | PLN 22.6m | PLN 41.3m | PLN 34.2m | PLN 44.4m | −PLN 571,000 | PLN 13.1m |
| Capital spending | −PLN 22.7m | −PLN 15.7m | −PLN 26.4m | −PLN 14.8m | −PLN 23.9m | −PLN 25.5m | −PLN 24.2m | −PLN 29.6m | −PLN 16.8m | −PLN 2.0m |
| Free cash flow | PLN 17.5m | PLN 32.0m | PLN 65.7m | PLN 52.1m | −PLN 1.2m | PLN 15.8m | PLN 10.0m | PLN 14.8m | −PLN 17.3m | PLN 11.1m |
| Dividends paid | −PLN 5.3m | −PLN 4.2m | −PLN 5.1m | −PLN 4.7m | −PLN 689,000 | −PLN 1.5m | −PLN 7.3m | −PLN 7.5m | −PLN 4.5m | −PLN 3.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 272.4m | PLN 191.7m | PLN 330.4m | PLN 288.6m | PLN 233.5m | PLN 197.7m | PLN 185.8m | PLN 242.6m |
| Gross profit | PLN 53.3m | PLN 36.3m | PLN 64.1m | PLN 52.2m | PLN 49.4m | PLN 38.0m | PLN 63.8m | PLN 40.4m |
| Operating income | PLN 18.0m | PLN 9.7m | PLN 35.0m | PLN 22.6m | PLN 18.8m | PLN 6.2m | PLN 60.0m | PLN 5.7m |
| Net income | PLN 7.7m | PLN 2.9m | PLN 23.5m | PLN 10.4m | PLN 5.6m | −PLN 4.0m | −PLN 46.7m | −PLN 9.5m |
| Diluted earnings per share | 0.10 | 0.04 | 0.31 | 0.14 | 0.07 | -0.05 | -0.66 | -0.13 |
| Cash from operations | −PLN 35.0m | PLN 11.0m | PLN 38.0m | PLN 7.0m | PLN 2.0m | PLN 2.0m | PLN 27.0m | PLN 13.0m |
| Capital spending | −PLN 8.0m | −PLN 6.0m | −PLN 3.0m | −PLN 3.0m | −PLN 3.0m | −PLN 12.0m | −PLN 6.0m | −PLN 1.0m |
| Free cash flow | −PLN 43.0m | PLN 5.0m | PLN 35.0m | PLN 4.0m | −PLN 1.0m | −PLN 10.0m | PLN 21.0m | PLN 12.0m |
| Total assets | PLN 1.08bn | PLN 1.01bn | PLN 1.04bn | PLN 999.5m | PLN 919.4m | PLN 861.4m | PLN 937.5m | PLN 951.3m |
| Cash and short-term investments | PLN 23.1m | PLN 55.4m | PLN 25.6m | PLN 16.4m | PLN 21.9m | PLN 9.9m | PLN 21.0m | PLN 13.6m |
| Debt | PLN 220.6m | PLN 312.2m | PLN 288.5m | PLN 305.5m | PLN 294.2m | PLN 272.1m | PLN 271.4m | PLN 286.6m |
| Shareholders' equity | PLN 176.2m | PLN 178.6m | PLN 175.6m | PLN 129.9m | PLN 114.0m | PLN 108.1m | PLN 112.7m | PLN 159.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.8% | 14.6% | 26.7% |
| Operating income | 18.9% | 40.1% | 21.4% |
| Net income | 57.6% | — | 31.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.2% | 18.9% | 18.7% | 19.4% |
| Operating margin | 6.8% | 6.7% | 5.9% | 5.8% |
| Net margin | -2.7% | -1.1% | -0.7% | -0.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.4 | -1.5 | 115.4 | 16.6 | 15.8 | -60.1 | -88.1 | 38.4 | 49.8 | 13.5 |
| Price to sales | 0.3 | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 | 0.5 | 0.7 | 1.1 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 Aug 2023.
| FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.04 | 0.02 | 0.08 | 0.07 | 0.06 | 0.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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