M 
13.15
-2.23%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 181.2m
FY2016FY2025
Net income
PLN 221.7m
FY2016FY2025
Free cash flow
−PLN 157.8m
FY2016FY2025
Shareholders' equity
PLN 282.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 181.2m | PLN 507.4m | PLN 587.4m | PLN 628.4m | PLN 496.0m | PLN 386.2m | PLN 396.1m | PLN 370.9m | PLN 318.5m | PLN 269.5m |
| Gross profit | PLN 31.5m | PLN 118.1m | PLN 153.1m | PLN 156.2m | PLN 116.8m | PLN 105.2m | PLN 106.9m | PLN 94.4m | PLN 76.6m | PLN 69.1m |
| Research and development | — | — | PLN 6.4m | PLN 6.4m | PLN 1.6m | PLN 1.2m | PLN 3.7m | PLN 41,000 | PLN 507,000 | PLN 343,000 |
| Operating income | −PLN 16.7m | PLN 25.5m | PLN 57.7m | PLN 68.8m | PLN 44.0m | PLN 38.0m | PLN 35.3m | PLN 25.0m | PLN 18.3m | PLN 11.5m |
| Net income | PLN 221.7m | PLN 16.1m | PLN 49.3m | PLN 41.7m | PLN 29.8m | PLN 26.9m | PLN 21.6m | PLN 15.0m | PLN 10.2m | PLN 3.1m |
| Diluted earnings per share | 14.49 | 1.06 | 3.19 | 2.68 | 2.11 | 1.92 | 1.54 | 1.00 | 0.77 | 0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 382.7m | PLN 404.9m | PLN 432.4m | PLN 447.0m | PLN 434.3m | PLN 346.8m | PLN 354.4m | PLN 345.8m | PLN 321.7m | PLN 291.5m |
| Cash and short-term investments | PLN 148.9m | PLN 18.2m | PLN 15.6m | PLN 29.2m | PLN 19.9m | PLN 24.2m | PLN 12.8m | PLN 13.5m | PLN 12.7m | PLN 11.2m |
| Total liabilities | PLN 94.7m | PLN 186.4m | PLN 193.1m | PLN 221.9m | PLN 243.4m | PLN 175.5m | PLN 182.2m | PLN 196.7m | PLN 185.2m | PLN 170.0m |
| Debt | PLN 33.4m | PLN 101.0m | PLN 88.1m | PLN 96.3m | PLN 116.6m | PLN 90.3m | PLN 95.1m | PLN 109.9m | PLN 104.5m | PLN 98.6m |
| Shareholders' equity | PLN 282.7m | PLN 216.4m | PLN 226.9m | PLN 212.8m | PLN 184.7m | PLN 164.7m | PLN 167.0m | PLN 144.8m | PLN 131.7m | PLN 116.1m |
| Shares outstanding | 15m | 15m | 15m | 16m | 14m | 14m | 14m | 15m | 13m | 16m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 118.1m | PLN 27.0m | PLN 50.4m | PLN 64.0m | PLN 6.6m | PLN 44.9m | PLN 44.7m | PLN 14.0m | PLN 7.9m | PLN 12.3m |
| Capital spending | −PLN 39.7m | −PLN 13.9m | −PLN 11.6m | −PLN 10.9m | −PLN 13.2m | −PLN 20.0m | −PLN 18.3m | −PLN 11.7m | −PLN 12.9m | −PLN 24.8m |
| Free cash flow | −PLN 157.8m | PLN 13.1m | PLN 38.8m | PLN 53.1m | −PLN 6.6m | PLN 24.9m | PLN 26.4m | PLN 2.3m | −PLN 5.0m | −PLN 12.5m |
| Dividends paid | −PLN 27.2m | −PLN 11.8m | −PLN 24.0m | −PLN 10.2m | −PLN 10.7m | −PLN 3.9m | −PLN 332,000 | −PLN 594,000 | −PLN 514,000 | −PLN 8.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -33.9% | -14.0% | -2.4% |
| Net income | 74.5% | 52.5% | 42.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.7% | 24.1% | 24.4% | 25.0% |
| Operating margin | 1.3% | 7.1% | 7.8% | 7.3% |
| Net margin | 34.5% | 17.3% | 13.8% | 10.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 1.4 | 28.3 | 9.2 | 5.0 | 7.8 | 5.9 | 6.2 | 8.3 | 14.9 | 55.3 |
| Price to sales | 1.8 | 0.9 | 0.8 | 0.3 | 0.5 | 0.4 | 0.3 | 0.3 | 0.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 4 Nov 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.78 | 0.77 | 1.51 | 0.63 | 0.57 | 0.25 | 0.51 | 1.02 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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