38.30
+1.32%
Close of 9 Nov 2026, in PLN
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At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 1.83bn
FY2016FY2025
Net income
PLN 498.2m
FY2016FY2025
Free cash flow
PLN 291.0m
FY2016FY2025
Shareholders' equity
PLN 1.13bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 1.83bn | PLN 1.39bn | PLN 1.23bn | PLN 1.28bn | PLN 1.31bn | PLN 943.4m | PLN 669.4m | PLN 1.04bn | PLN 926.9m | PLN 882.4m |
| Gross profit | PLN 193.9m | PLN 178.4m | PLN 155.1m | PLN 114.2m | PLN 148.8m | PLN 128.7m | PLN 67.3m | PLN 126.6m | PLN 75.1m | PLN 86.8m |
| Operating income | PLN 105.2m | PLN 115.8m | PLN 110.6m | PLN 51.8m | PLN 88.4m | PLN 77.7m | PLN 34.1m | PLN 79.8m | PLN 123.8m | PLN 42.8m |
| Net income | PLN 498.2m | PLN 77.9m | PLN 91.5m | PLN 34.5m | PLN 87.0m | PLN 57.8m | −PLN 1.2m | PLN 67.4m | PLN 124.2m | PLN 47.0m |
| Diluted earnings per share | 9.77 | 1.53 | 1.79 | 0.67 | 1.70 | 1.13 | -0.02 | 1.32 | 2.43 | 0.90 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 2.80bn | PLN 1.40bn | PLN 1.09bn | PLN 967.1m | PLN 917.8m | PLN 882.3m | PLN 970.2m | PLN 814.3m | PLN 961.3m | PLN 843.7m |
| Cash and short-term investments | PLN 112.8m | PLN 121.7m | PLN 216.6m | PLN 54.9m | PLN 96.8m | PLN 105.4m | PLN 161.1m | PLN 173.7m | PLN 241.5m | PLN 44.4m |
| Total liabilities | PLN 1.11bn | PLN 616.9m | PLN 340.6m | PLN 329.4m | PLN 276.7m | PLN 294.8m | PLN 411.7m | PLN 203.5m | PLN 364.7m | PLN 375.5m |
| Debt | PLN 215.1m | PLN 365.2m | PLN 77.8m | PLN 82.4m | PLN 76.0m | PLN 80.3m | PLN 78.0m | PLN 106,000 | PLN 291,000 | PLN 195.7m |
| Shareholders' equity | PLN 1.13bn | PLN 686.4m | PLN 672.8m | PLN 586.4m | PLN 587.8m | PLN 536.6m | PLN 505.4m | PLN 555.5m | PLN 539.3m | PLN 410.8m |
| Shares outstanding | 51m | 51m | 51m | 51m | 51m | 51m | 51m | 51m | 51m | 52m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 301.3m | PLN 39.5m | PLN 165.4m | PLN 9.6m | PLN 36.6m | −PLN 15.3m | PLN 78.9m | PLN 75.8m | PLN 58.2m | PLN 91.3m |
| Capital spending | −PLN 10.3m | −PLN 15.9m | −PLN 11.1m | −PLN 11.9m | −PLN 15.6m | −PLN 15.1m | −PLN 11.3m | −PLN 31.5m | −PLN 51.6m | −PLN 35.3m |
| Free cash flow | PLN 291.0m | PLN 23.6m | PLN 154.3m | −PLN 2.2m | PLN 21.0m | −PLN 30.5m | PLN 67.6m | PLN 44.3m | PLN 6.6m | PLN 56.0m |
| Dividends paid | −PLN 56.1m | −PLN 63.9m | −PLN 5.1m | −PLN 35.8m | −PLN 35.8m | −PLN 25.6m | −PLN 51.1m | −PLN 51.1m | −PLN 35.8m | −PLN 25.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 868.7m | PLN 726.7m | PLN 593.7m | PLN 424.7m | PLN 406.7m | PLN 402.9m | PLN 354.0m | PLN 320.4m |
| Gross profit | PLN 228.0m | PLN 86.4m | PLN 69.1m | PLN 48.1m | PLN 35.4m | PLN 40.3m | PLN 37.8m | PLN 33.0m |
| Operating income | PLN 204.4m | PLN 60.1m | PLN 23.1m | PLN 11.6m | PLN 41.2m | PLN 38.6m | PLN 20.3m | PLN 25.9m |
| Net income | PLN 88.2m | PLN 27.5m | PLN 15.9m | PLN 406.5m | PLN 35.9m | PLN 39.9m | PLN 9.4m | PLN 25.0m |
| Diluted earnings per share | 1.73 | 0.54 | 0.31 | 7.97 | 0.70 | 0.78 | 0.18 | 0.49 |
| Cash from operations | PLN 18.0m | PLN 33.0m | PLN 136.0m | PLN 118.0m | PLN 18.0m | PLN 27.0m | PLN 21.0m | PLN 32.0m |
| Capital spending | −PLN 17.0m | −PLN 14.0m | −PLN 1.0m | −PLN 5.0m | −PLN 2.0m | −PLN 1.0m | −PLN 1.0m | −PLN 9.0m |
| Free cash flow | PLN 1.0m | PLN 19.0m | PLN 135.0m | PLN 113.0m | PLN 16.0m | PLN 26.0m | PLN 20.0m | PLN 23.0m |
| Total assets | PLN 2.63bn | PLN 2.82bn | PLN 2.80bn | PLN 2.95bn | PLN 1.55bn | PLN 1.51bn | PLN 1.40bn | PLN 1.20bn |
| Cash and short-term investments | PLN 74.9m | PLN 89.7m | PLN 112.8m | PLN 61.9m | PLN 95.8m | PLN 83.2m | PLN 121.7m | PLN 156.3m |
| Debt | PLN 736.9m | PLN 158.6m | PLN 251.8m | PLN 423.8m | PLN 145.5m | PLN 171.6m | PLN 356.0m | PLN 64.1m |
| Shareholders' equity | PLN 1.15bn | PLN 1.16bn | PLN 1.13bn | PLN 1.12bn | PLN 705.3m | PLN 725.5m | PLN 686.4m | PLN 677.1m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 10.6% | 12.8% | 12.6% | 8.9% | 11.4% | 13.6% |
| Operating margin | 5.8% | 9.2% | 11.8% | 3.4% | 9.0% | 7.9% |
| Net margin | 27.3% | 6.8% | 7.4% | 2.5% | 6.6% | 6.1% |
| Return on equity | 29.5% | 12.2% | 13.6% | 5.1% | 13.6% | 9.8% |
| Return on assets | 17.8% | 6.8% | 8.4% | 3.4% | 9.5% | 6.6% |
| Free cash flow yield | 16.0% | 2.8% | 9.1% | 1.1% | 2.6% | -0.1% |
| Revenue growth | 31.5% | 12.6% | -3.8% | -2.0% | 38.8% | 40.9% |
| Earnings growth | 425.2% | 3.7% | 182.1% | -62.7% | 50.5% | -4906.3% |
| Current ratio | 1.01x | 1.48x | 2.22x | 1.91x | 2.13x | 1.85x |
| Debt to equity | 0.12x | 0.46x | 0.10x | 0.11x | -0.07x | -0.13x |
| Equity ratio | 60.3% | 55.8% | 61.7% | 65.9% | 69.9% | 66.6% |
| Interest coverage | 5.48x | 13.22x | 27.15x | 6.89x | 20.32x | 19.65x |
| Buybacks as a share of market value | 0.2% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.5% | 14.1% | 9.0% |
| Operating income | 26.6% | 6.2% | 6.9% |
| Net income | 143.6% | 53.8% | 29.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.6% | 11.2% | 11.5% | 11.0% |
| Operating margin | 6.9% | 6.7% | 6.9% | 7.2% |
| Net margin | 17.9% | 12.3% | 10.6% | 9.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 4.9 | 12.3 | 9.4 | 23.9 | 12.3 | 17.1 | -935.2 | 15.1 | 9.1 | 19.8 |
| Price to sales | 1.3 | 0.7 | 0.7 | 0.6 | 0.8 | 1.1 | 1.7 | 1.0 | 1.2 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 13 years. Last went ex-dividend on 29 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.50 | 1.10 | 1.25 | 0.10 | 0.70 | 0.40 | 0.50 | 1.00 |
- 10-for-1 split · 30 May 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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