K 
289.40
+4.55%
Close of 9 Nov 2026, in PLN
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At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 36.37bn
FY2016FY2025
Net income
PLN 3.69bn
FY2016FY2025
Free cash flow
−PLN 1.54bn
FY2016FY2025
Shareholders' equity
PLN 32.83bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 36.37bn | PLN 35.32bn | PLN 32.83bn | PLN 33.85bn | PLN 29.80bn | PLN 23.63bn | PLN 22.72bn | PLN 20.53bn | PLN 20.36bn | PLN 19.16bn |
| Gross profit | PLN 6.24bn | PLN 5.97bn | PLN 2.66bn | PLN 6.31bn | PLN 6.27bn | PLN 4.65bn | PLN 3.96bn | PLN 3.97bn | PLN 5.15bn | PLN 3.91bn |
| Operating income | PLN 4.08bn | PLN 3.71bn | PLN 455.0m | PLN 5.83bn | PLN 5.95bn | PLN 3.08bn | PLN 2.24bn | PLN 2.47bn | PLN 3.93bn | PLN 2.70bn |
| Net income | PLN 3.69bn | PLN 2.87bn | −PLN 3.70bn | PLN 4.77bn | PLN 6.16bn | PLN 1.80bn | PLN 1.42bn | PLN 1.66bn | PLN 1.57bn | −PLN 4.37bn |
| Diluted earnings per share | 18.44 | 14.34 | -18.49 | 23.86 | 30.78 | 9.00 | 7.11 | 8.29 | 7.84 | -21.86 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 58.24bn | PLN 53.89bn | PLN 51.38bn | PLN 53.44bn | PLN 48.03bn | PLN 42.78bn | PLN 39.41bn | PLN 37.24bn | PLN 34.12bn | PLN 33.44bn |
| Cash and short-term investments | PLN 480.0m | PLN 699.0m | PLN 1.70bn | PLN 1.47bn | PLN 2.03bn | PLN 2.53bn | PLN 1.07bn | PLN 1.19bn | PLN 645.0m | PLN 916.0m |
| Total liabilities | PLN 25.34bn | PLN 22.83bn | PLN 22.75bn | PLN 21.30bn | PLN 20.89bn | PLN 21.70bn | PLN 19.21bn | PLN 18.01bn | PLN 16.34bn | PLN 17.53bn |
| Debt | — | PLN 6.17bn | PLN 5.72bn | PLN 6.44bn | PLN 5.86bn | PLN 7.33bn | PLN 7.87bn | PLN 7.95bn | PLN 7.16bn | PLN 8.10bn |
| Shareholders' equity | PLN 32.83bn | PLN 30.99bn | PLN 28.57bn | PLN 32.09bn | PLN 27.05bn | PLN 20.99bn | PLN 20.11bn | PLN 19.13bn | PLN 17.69bn | PLN 15.77bn |
| Shares outstanding | 200m | 200m | 200m | 200m | 200m | 200m | 200m | 200m | 200m | 200m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 4.04bn | PLN 4.69bn | PLN 6.05bn | PLN 2.46bn | PLN 4.27bn | PLN 5.66bn | PLN 5.05bn | PLN 3.83bn | PLN 3.05bn | PLN 4.21bn |
| Capital spending | −PLN 5.57bn | −PLN 5.93bn | −PLN 4.93bn | −PLN 4.13bn | −PLN 3.93bn | −PLN 3.48bn | −PLN 3.52bn | −PLN 2.71bn | −PLN 2.80bn | −PLN 3.25bn |
| Free cash flow | −PLN 1.54bn | −PLN 1.24bn | PLN 1.12bn | −PLN 1.67bn | PLN 338.0m | PLN 2.18bn | PLN 1.52bn | PLN 1.11bn | PLN 258.0m | PLN 961.0m |
| Dividends paid | — | −PLN 300.0m | −PLN 200.0m | −PLN 600.0m | −PLN 300.0m | −PLN 300.0m | −PLN 300.0m | −PLN 300.0m | −PLN 200.0m | −PLN 300.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 13.23bn | PLN 12.36bn | PLN 10.49bn | PLN 8.31bn | PLN 8.61bn | PLN 8.94bn | PLN 9.18bn | PLN 8.66bn |
| Gross profit | PLN 3.08bn | PLN 4.97bn | PLN 1.70bn | PLN 1.41bn | PLN 1.52bn | PLN 1.61bn | PLN 1.43bn | PLN 1.45bn |
| Operating income | PLN 2.44bn | PLN 4.50bn | PLN 1.05bn | PLN 869.0m | PLN 1.00bn | PLN 1.15bn | PLN 793.0m | PLN 827.0m |
| Net income | PLN 2.05bn | PLN 3.53bn | PLN 2.67bn | PLN 433.0m | PLN 249.0m | PLN 330.0m | PLN 1.55bn | PLN 240.0m |
| Diluted earnings per share | 10.25 | 17.65 | 13.38 | 2.17 | 1.25 | 1.65 | 7.78 | 1.20 |
| Cash from operations | PLN 2.62bn | PLN 2.04bn | PLN 1.35bn | PLN 864.0m | PLN 415.0m | PLN 1.40bn | PLN 1.26bn | PLN 405.0m |
| Capital spending | −PLN 1.04bn | −PLN 1.42bn | −PLN 1.76bn | −PLN 1.33bn | −PLN 967.0m | −PLN 1.51bn | −PLN 1.78bn | −PLN 1.60bn |
| Free cash flow | PLN 1.57bn | PLN 617.0m | −PLN 412.0m | −PLN 462.0m | −PLN 552.0m | −PLN 112.0m | −PLN 525.0m | −PLN 1.19bn |
| Total assets | PLN 65.86bn | PLN 63.45bn | PLN 58.24bn | PLN 55.11bn | PLN 54.41bn | PLN 54.14bn | PLN 53.89bn | PLN 51.80bn |
| Cash and short-term investments | PLN 1.24bn | PLN 560.0m | PLN 480.0m | PLN 593.0m | PLN 705.0m | PLN 1.16bn | PLN 699.0m | PLN 1.38bn |
| Debt | PLN 5.90bn | PLN 6.28bn | PLN 5.23bn | PLN 5.92bn | PLN 5.86bn | PLN 6.19bn | PLN 5.55bn | PLN 1.22bn |
| Shareholders' equity | PLN 39.74bn | PLN 36.94bn | PLN 32.83bn | PLN 32.31bn | PLN 32.05bn | PLN 31.34bn | PLN 30.99bn | PLN 29.33bn |
Financial ratios
Data as of 15 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 17.2% | 16.9% | 8.1% | 18.6% | 21.1% | 19.7% | — | — |
| Operating margin | 11.2% | 10.5% | 1.4% | 17.2% | 20.0% | 13.0% | — | — |
| Net margin | 10.1% | 8.1% | -11.3% | 14.1% | 20.7% | 7.6% | — | — |
| Return on equity | 11.2% | 9.3% | -12.9% | 14.9% | 22.8% | 8.6% | — | — |
| Return on assets | 6.3% | 5.3% | -7.2% | 8.9% | 12.8% | 4.2% | — | — |
| Free cash flow yield | 14.5% | 16.0% | 16.5% | 9.9% | 12.3% | 13.8% | — | — |
| Revenue growth | 3.0% | 7.6% | -3.0% | 13.6% | 26.1% | 4.0% | — | — |
| Earnings growth | 28.6% | -177.6% | -177.5% | -22.5% | 242.0% | 26.7% | — | — |
| Current ratio | 1.10x | 1.05x | 1.15x | 1.42x | 1.19x | 1.10x | — | — |
| Debt to equity | 0.16x | 0.18x | 0.18x | 0.18x | 0.03x | 0.32x | — | — |
| Equity ratio | 56.4% | 57.5% | 55.6% | 60.0% | 56.3% | 49.1% | — | — |
| Interest coverage | 20.58x | 20.17x | 2.43x | 149.44x | 40.46x | 15.73x | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.4% | 9.0% | 6.2% |
| Operating income | -11.2% | 5.7% | 23.3% |
| Net income | -8.2% | 15.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.0% | 15.3% | 16.7% | 17.3% |
| Operating margin | 10.9% | 10.2% | 12.0% | 11.9% |
| Net margin | 9.1% | 5.5% | 8.1% | 3.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.2 | 8.0 | -6.6 | 5.3 | 4.5 | 20.3 | 13.4 | 10.7 | 14.2 | -4.2 |
| Price to sales | 1.5 | 0.7 | 0.8 | 0.8 | 0.9 | 1.6 | 0.8 | 0.9 | 1.1 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 Jun 2026.
| FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.50 | 1.50 | 1.00 | 3.00 | 1.50 | 0.50 | 0.75 | 2.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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