K 
13.20
-2.22%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 527.7m
FY2016FY2025
Net income
−PLN 18.4m
FY2016FY2025
Free cash flow
PLN 23.5m
FY2016FY2025
Shareholders' equity
PLN 102.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 527.7m | PLN 531.5m | PLN 562.6m | PLN 652.0m | PLN 575.8m | PLN 380.0m | PLN 392.4m | PLN 375.6m | PLN 343.1m | PLN 290.5m |
| Gross profit | PLN 70.0m | PLN 76.3m | PLN 100.6m | PLN 62.5m | PLN 66.7m | PLN 67.9m | PLN 63.6m | PLN 51.0m | PLN 52.3m | PLN 46.7m |
| Research and development | PLN 231,000 | PLN 1.8m | PLN 2.4m | PLN 4.5m | PLN 4.2m | PLN 2.3m | PLN 12.7m | PLN 2.6m | PLN 889,000 | PLN 169,000 |
| Operating income | −PLN 3.0m | PLN 9.5m | PLN 35.1m | −PLN 4.7m | PLN 11.5m | PLN 22.6m | PLN 18.6m | PLN 12.2m | PLN 20.1m | PLN 19.2m |
| Net income | −PLN 18.4m | −PLN 3.8m | PLN 18.3m | −PLN 17.0m | PLN 5.2m | PLN 11.2m | PLN 12.2m | PLN 6.2m | PLN 15.2m | PLN 13.4m |
| Diluted earnings per share | -2.61 | -0.54 | 2.59 | -2.41 | 0.74 | 1.57 | 1.70 | 0.86 | 2.12 | 1.88 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 328.3m | PLN 362.2m | PLN 349.7m | PLN 373.6m | PLN 416.3m | PLN 347.5m | PLN 278.7m | PLN 274.9m | PLN 252.1m | PLN 217.6m |
| Cash and short-term investments | PLN 5.9m | PLN 6.3m | PLN 5.8m | PLN 4.0m | PLN 22.4m | PLN 6.1m | PLN 4.9m | PLN 5.9m | PLN 11.1m | PLN 10.1m |
| Total liabilities | PLN 226.0m | PLN 234.4m | PLN 214.5m | PLN 256.7m | PLN 282.2m | PLN 215.7m | PLN 155.4m | PLN 162.2m | PLN 144.1m | PLN 123.4m |
| Debt | PLN 131.4m | PLN 135.5m | PLN 115.2m | PLN 142.9m | PLN 144.5m | PLN 128.2m | PLN 88.4m | PLN 80.9m | PLN 68.2m | PLN 64.2m |
| Shareholders' equity | PLN 102.3m | PLN 127.8m | PLN 135.2m | PLN 117.0m | PLN 134.1m | PLN 131.7m | PLN 123.3m | PLN 112.6m | PLN 108.0m | PLN 94.2m |
| Shares outstanding | 7m | 7m | 7m | 7m | 7m | 7m | 7m | 7m | 7m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 32.9m | PLN 26.5m | PLN 56.9m | PLN 17.9m | PLN 32.3m | PLN 47.6m | PLN 28.4m | PLN 27.1m | PLN 34.9m | PLN 8.7m |
| Capital spending | −PLN 9.4m | −PLN 12.0m | −PLN 9.9m | −PLN 8.8m | −PLN 11.1m | −PLN 44.5m | −PLN 18.1m | −PLN 14.0m | −PLN 19.8m | −PLN 28.1m |
| Free cash flow | PLN 23.5m | PLN 14.5m | PLN 46.9m | PLN 9.1m | PLN 21.2m | PLN 3.2m | PLN 10.3m | PLN 13.1m | PLN 15.0m | −PLN 19.3m |
| Dividends paid | −PLN 7.1m | −PLN 3.5m | — | — | −PLN 2.5m | −PLN 2.4m | −PLN 1.0m | −PLN 1.5m | −PLN 1.4m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 158.1m | PLN 138.3m | PLN 136.6m | PLN 131.8m | PLN 135.6m | PLN 123.6m | PLN 134.8m | PLN 133.1m |
| Gross profit | PLN 28.8m | PLN 22.5m | PLN 13.1m | PLN 15.9m | PLN 20.6m | PLN 20.5m | PLN 17.0m | PLN 16.4m |
| Operating income | PLN 9.9m | PLN 4.3m | −PLN 3.8m | −PLN 2.1m | PLN 1.3m | PLN 1.6m | PLN 942,000 | −PLN 96,000 |
| Net income | PLN 6.0m | PLN 107,000 | −PLN 9.2m | −PLN 5.7m | −PLN 3.0m | −PLN 479,000 | −PLN 3.5m | −PLN 2.2m |
| Diluted earnings per share | 0.85 | 0.02 | -1.30 | -0.81 | -0.43 | -0.07 | -0.49 | -0.32 |
| Cash from operations | PLN 7.0m | PLN 11.0m | PLN 20.0m | — | PLN 6.0m | PLN 2.0m | PLN 7.0m | PLN 4.0m |
| Capital spending | −PLN 2.0m | — | −PLN 3.0m | — | −PLN 4.0m | −PLN 1.0m | −PLN 4.0m | — |
| Free cash flow | PLN 5.0m | — | PLN 17.0m | — | PLN 2.0m | PLN 1.0m | PLN 3.0m | — |
| Total assets | PLN 334.2m | PLN 327.3m | PLN 328.3m | PLN 361.1m | PLN 360.6m | PLN 375.7m | PLN 362.2m | PLN 363.0m |
| Cash and short-term investments | PLN 3.7m | PLN 7.4m | PLN 5.9m | PLN 4.0m | PLN 11.3m | PLN 4.7m | PLN 6.3m | PLN 3.6m |
| Debt | PLN 62.2m | PLN 65.1m | PLN 71.1m | PLN 82.2m | PLN 75.7m | PLN 75.5m | PLN 73.1m | PLN 65.7m |
| Shareholders' equity | PLN 108.4m | PLN 102.4m | PLN 102.3m | PLN 111.6m | PLN 117.3m | PLN 127.4m | PLN 127.8m | PLN 131.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.8% | 6.8% | 7.8% |
| Operating income | -14.2% | — | — |
| Net income | 2.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.8% | 13.6% | 13.7% | 14.3% |
| Operating margin | 0.6% | 1.6% | 2.2% | 3.2% |
| Net margin | -2.1% | -0.9% | -0.1% | 1.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.2 | -27.7 | 5.7 | -3.8 | 17.0 | 11.2 | 7.5 | 15.1 | 9.9 |
| Price to sales | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 | 0.3 | 0.2 | 0.3 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 7 Jul 2025.
| FY2025 | FY2024 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 1.00 | 0.50 | 0.35 | 0.34 | 0.14 | 0.21 | 0.19 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.