M 
24.90
+0.81%
Close of 9 Nov 2026, in PLN
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At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 685.5m
FY2016FY2025
Net income
PLN 10.1m
FY2016FY2025
Free cash flow
−PLN 58.7m
FY2016FY2025
Shareholders' equity
PLN 322.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 685.5m | PLN 616.7m | PLN 575.9m | PLN 922.8m | PLN 990.4m | PLN 422.5m | PLN 437.4m | PLN 414.3m | PLN 366.2m | PLN 256.1m |
| Gross profit | PLN 81.7m | PLN 65.3m | PLN 50.1m | PLN 86.1m | PLN 249.3m | PLN 86.4m | PLN 88.5m | PLN 82.4m | PLN 66.1m | PLN 54.1m |
| Research and development | PLN 1.7m | PLN 1.7m | PLN 1.6m | PLN 953,000 | PLN 953,000 | PLN 954,000 | PLN 768,000 | — | — | — |
| Operating income | PLN 16.9m | PLN 13.0m | −PLN 2.3m | PLN 33.9m | PLN 166.6m | PLN 34.2m | PLN 33.9m | PLN 34.9m | PLN 28.6m | PLN 22.6m |
| Net income | PLN 10.1m | PLN 7.2m | −PLN 14.8m | PLN 24.6m | PLN 133.0m | PLN 27.0m | PLN 25.4m | PLN 27.9m | PLN 20.7m | PLN 17.8m |
| Diluted earnings per share | 1.52 | 1.09 | -2.24 | 3.73 | 20.10 | 4.08 | 3.85 | 4.22 | 3.13 | 2.91 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 591.9m | PLN 528.8m | PLN 497.4m | PLN 461.0m | PLN 556.9m | PLN 311.4m | PLN 286.2m | PLN 258.3m | PLN 204.6m | PLN 152.6m |
| Cash and short-term investments | PLN 48.9m | PLN 75.1m | PLN 135.0m | PLN 85.1m | PLN 35.6m | PLN 33.1m | PLN 23.6m | PLN 20.4m | PLN 29.9m | PLN 18.7m |
| Total liabilities | PLN 245.6m | PLN 220.6m | PLN 197.8m | PLN 146.6m | PLN 240.9m | PLN 124.1m | PLN 125.9m | PLN 117.7m | PLN 89.3m | PLN 71.8m |
| Debt | PLN 154.3m | PLN 79.4m | PLN 78.7m | PLN 69.6m | PLN 74.0m | PLN 51.2m | PLN 42.6m | PLN 60.2m | PLN 36.8m | PLN 24.0m |
| Shareholders' equity | PLN 322.5m | PLN 308.2m | PLN 299.6m | PLN 314.4m | PLN 316.1m | PLN 187.3m | PLN 160.3m | PLN 140.6m | PLN 115.2m | PLN 80.8m |
| Shares outstanding | 7m | 7m | 7m | 7m | 7m | 7m | 7m | 7m | 7m | 6m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 27.5m | PLN 13.8m | PLN 44.0m | PLN 105.5m | PLN 15.8m | PLN 36.1m | PLN 20.4m | PLN 13.5m | PLN 2.6m | PLN 28.5m |
| Capital spending | −PLN 31.2m | −PLN 71.4m | −PLN 13.1m | −PLN 19.6m | −PLN 24.0m | −PLN 19.1m | −PLN 13.8m | −PLN 33.2m | −PLN 22.1m | −PLN 15.4m |
| Free cash flow | −PLN 58.7m | −PLN 57.6m | PLN 30.9m | PLN 85.8m | −PLN 8.3m | PLN 16.9m | PLN 6.7m | −PLN 19.6m | −PLN 19.5m | PLN 13.2m |
| Dividends paid | — | — | — | −PLN 26.4m | −PLN 6.6m | −PLN 6.6m | −PLN 5.5m | −PLN 4.2m | −PLN 3.5m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 217.1m | PLN 173.4m | PLN 167.7m | PLN 177.5m | PLN 170.6m | PLN 169.7m | PLN 148.4m | PLN 155.4m |
| Gross profit | — | PLN 19.4m | PLN 18.4m | PLN 19.9m | PLN 22.3m | PLN 20.4m | PLN 16.3m | PLN 17.2m |
| Operating income | −PLN 160.4m | PLN 3.9m | −PLN 390,000 | PLN 5.4m | PLN 5.8m | PLN 6.2m | PLN 2.0m | PLN 3.8m |
| Net income | PLN 6.4m | PLN 2.4m | −PLN 1.0m | PLN 3.3m | PLN 4.3m | PLN 3.5m | PLN 1.3m | PLN 1.7m |
| Diluted earnings per share | 0.97 | 0.37 | -0.15 | 0.50 | 0.66 | 0.53 | 0.20 | 0.26 |
| Cash from operations | — | PLN 20.0m | −PLN 13.0m | PLN 26.0m | −PLN 37.0m | — | PLN 8.0m | PLN 10.0m |
| Capital spending | — | −PLN 3.0m | −PLN 3.0m | −PLN 9.0m | −PLN 6.0m | −PLN 11.0m | −PLN 29.0m | −PLN 33.0m |
| Free cash flow | — | PLN 17.0m | −PLN 16.0m | PLN 17.0m | −PLN 43.0m | — | −PLN 21.0m | −PLN 23.0m |
| Total assets | — | PLN 634.4m | PLN 591.9m | PLN 615.6m | PLN 586.2m | PLN 573.0m | PLN 528.8m | PLN 521.8m |
| Cash and short-term investments | — | PLN 46.7m | PLN 48.9m | PLN 59.6m | PLN 43.8m | PLN 61.8m | PLN 75.1m | PLN 93.0m |
| Debt | — | PLN 80.2m | PLN 92.7m | PLN 80.9m | PLN 122.6m | PLN 69.7m | PLN 70.3m | PLN 51.6m |
| Shareholders' equity | — | PLN 324.9m | PLN 322.5m | PLN 325.1m | PLN 321.9m | PLN 311.7m | PLN 308.2m | PLN 305.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.4% | 10.2% | 12.2% |
| Operating income | -20.7% | -13.1% | 2.2% |
| Net income | -25.8% | -17.9% | -0.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.3% | 10.1% | 14.7% | 16.1% |
| Operating margin | 2.3% | 2.2% | 6.2% | 6.7% |
| Net margin | 1.3% | 1.0% | 4.4% | 4.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 24.0 | 24.6 | -15.2 | 8.3 | 2.6 | 6.7 | 6.5 | 5.6 | 10.8 | 9.1 |
| Price to sales | 0.3 | 0.3 | 0.4 | 0.2 | 0.3 | 0.4 | 0.4 | 0.4 | 0.6 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Aug 2022.
| FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2015 | |
|---|---|---|---|---|---|---|
| Paid in the year | 4.00 | 1.00 | 0.84 | 0.63 | 0.58 | 0.30 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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