P 
18.15
+1.40%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 246.5m
FY2016FY2025
Net income
PLN 22.1m
FY2016FY2025
Free cash flow
−PLN 36.9m
FY2016FY2025
Shareholders' equity
PLN 512.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 246.5m | PLN 284.0m | PLN 350.5m | PLN 206.1m | PLN 199.9m | PLN 153.0m | PLN 284.0m | PLN 183.5m | PLN 255.3m | PLN 182.9m |
| Gross profit | PLN 56.6m | PLN 60.1m | PLN 73.9m | PLN 55.5m | PLN 49.5m | PLN 36.8m | PLN 56.1m | PLN 44.6m | PLN 62.4m | PLN 48.5m |
| Research and development | PLN 1.5m | PLN 1.5m | — | — | — | — | — | — | — | — |
| Operating income | PLN 39.6m | PLN 48.2m | PLN 62.3m | PLN 45.2m | PLN 40.1m | PLN 29.8m | PLN 57.7m | PLN 34.9m | PLN 41.6m | PLN 47.1m |
| Net income | PLN 22.1m | PLN 22.4m | PLN 34.8m | PLN 22.9m | PLN 23.4m | PLN 14.3m | PLN 36.0m | PLN 17.7m | PLN 25.0m | PLN 26.8m |
| Diluted earnings per share | 2.28 | 2.25 | 3.49 | 2.30 | 2.34 | 1.43 | 3.61 | 1.77 | 2.50 | 2.68 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 992.9m | PLN 943.0m | PLN 919.9m | PLN 948.5m | PLN 872.1m | PLN 828.0m | PLN 899.3m | PLN 913.6m | PLN 843.0m | PLN 816.8m |
| Cash and short-term investments | PLN 65.9m | PLN 60.1m | PLN 64.8m | PLN 57.9m | PLN 63.9m | PLN 43.9m | PLN 38.9m | PLN 36.9m | PLN 36.0m | PLN 31.8m |
| Total liabilities | PLN 480.7m | PLN 446.7m | PLN 442.2m | PLN 513.9m | PLN 452.1m | PLN 433.3m | PLN 505.3m | PLN 557.7m | PLN 496.7m | PLN 499.9m |
| Debt | PLN 375.2m | PLN 331.3m | PLN 337.6m | PLN 404.7m | PLN 364.8m | PLN 359.3m | PLN 373.3m | PLN 397.0m | PLN 399.9m | PLN 474.3m |
| Shareholders' equity | PLN 512.6m | PLN 496.8m | PLN 478.7m | PLN 435.6m | PLN 420.5m | PLN 394.3m | PLN 393.2m | PLN 356.0m | PLN 346.3m | PLN 316.9m |
| Shares outstanding | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 33.9m | PLN 25.4m | PLN 40.9m | PLN 8.9m | −PLN 5.6m | PLN 83.5m | PLN 11.1m | PLN 5.9m | PLN 65.3m | PLN 52.9m |
| Capital spending | −PLN 3.1m | −PLN 1.4m | −PLN 862,000 | −PLN 10.7m | −PLN 6.6m | −PLN 29.2m | −PLN 19.4m | −PLN 29.3m | −PLN 38.5m | −PLN 45.3m |
| Free cash flow | −PLN 36.9m | PLN 23.9m | PLN 40.1m | −PLN 1.8m | −PLN 12.2m | PLN 54.3m | −PLN 8.3m | −PLN 23.5m | PLN 26.7m | PLN 7.6m |
| Dividends paid | −PLN 7.5m | −PLN 7.0m | −PLN 6.5m | −PLN 6.0m | — | −PLN 559,000 | −PLN 5.9m | −PLN 5.9m | −PLN 7.5m | −PLN 7.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 167.5m | PLN 42.4m | PLN 54.2m | PLN 58.7m | PLN 73.1m | PLN 60.5m | PLN 75.5m | PLN 60.4m |
| Gross profit | PLN 47.7m | PLN 13.8m | PLN 15.7m | PLN 14.4m | PLN 13.1m | PLN 13.4m | PLN 14.1m | PLN 14.8m |
| Operating income | PLN 44.5m | PLN 11.5m | PLN 6.7m | PLN 12.2m | PLN 9.8m | PLN 11.4m | PLN 12.3m | PLN 11.2m |
| Net income | PLN 32.3m | PLN 9.1m | PLN 3.9m | PLN 6.5m | PLN 5.0m | PLN 6.5m | PLN 4.6m | PLN 4.4m |
| Diluted earnings per share | 3.24 | 0.91 | 0.40 | 0.67 | 0.52 | 0.67 | 0.46 | 0.44 |
| Cash from operations | PLN 102.0m | PLN 10.0m | −PLN 6.0m | — | −PLN 8.0m | −PLN 7.0m | −PLN 4.0m | PLN 2.0m |
| Capital spending | — | — | — | −PLN 1.0m | — | — | — | −PLN 1.0m |
| Free cash flow | — | — | — | — | — | — | — | PLN 1.0m |
| Total assets | PLN 1.02bn | PLN 1.00bn | PLN 992.9m | PLN 987.7m | PLN 986.6m | PLN 956.9m | PLN 943.0m | PLN 926.6m |
| Cash and short-term investments | PLN 129.8m | PLN 71.9m | PLN 65.9m | PLN 69.1m | PLN 57.1m | PLN 56.2m | PLN 60.1m | PLN 57.2m |
| Debt | PLN 53.4m | PLN 367.2m | PLN 364.1m | PLN 354.8m | PLN 338.5m | PLN 318.4m | PLN 321.2m | PLN 297.5m |
| Shareholders' equity | PLN 539.2m | PLN 517.3m | PLN 512.6m | PLN 507.6m | PLN 502.2m | PLN 507.5m | PLN 496.8m | PLN 492.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.1% | 10.0% | 5.9% |
| Operating income | -4.3% | 5.9% | 1.4% |
| Net income | -1.3% | 9.0% | 2.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 22.0% | 22.6% | 23.1% | 23.4% |
| Operating margin | 16.5% | 18.0% | 18.4% | 19.4% |
| Net margin | 8.4% | 9.4% | 9.7% | 10.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 7.0 | 6.6 | 4.8 | 4.9 | 6.4 | 7.4 | 4.4 | 8.3 | 9.2 | 9.3 |
| Price to sales | 0.6 | 0.5 | 0.5 | 0.5 | 0.8 | 0.7 | 0.6 | 0.8 | 0.9 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 18 Sept 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.75 | 0.70 | 0.65 | 0.60 | 0.75 | 0.75 | 0.50 | 0.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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