N 
105.50
-1.86%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 182.7m
FY2016FY2025
Net income
PLN 20.0m
FY2016FY2025
Free cash flow
PLN 19.4m
FY2016FY2025
Shareholders' equity
PLN 123.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 182.7m | PLN 200.1m | PLN 184.9m | PLN 248.8m | PLN 221.4m | PLN 200.9m | PLN 111.2m | PLN 86.6m | PLN 89.8m | PLN 92.2m |
| Gross profit | PLN 48.6m | PLN 54.1m | PLN 43.1m | PLN 51.7m | PLN 83.9m | PLN 71.4m | PLN 31.6m | PLN 25.4m | PLN 27.7m | PLN 33.7m |
| Research and development | — | — | — | — | — | — | — | PLN 51.9m | PLN 10.5m | PLN 348,000 |
| Operating income | PLN 23.1m | PLN 29.2m | PLN 26.7m | PLN 28.3m | PLN 61.7m | PLN 49.6m | PLN 15.5m | PLN 13.1m | PLN 15.8m | PLN 20.7m |
| Net income | PLN 20.0m | PLN 23.6m | PLN 23.3m | PLN 21.4m | PLN 49.8m | PLN 40.7m | PLN 13.2m | PLN 10.7m | PLN 11.9m | PLN 16.9m |
| Diluted earnings per share | 8.01 | 9.43 | 9.31 | 8.55 | 19.90 | 16.28 | 5.30 | 4.28 | 4.77 | 6.76 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 163.8m | PLN 165.9m | PLN 164.3m | PLN 186.7m | PLN 196.0m | PLN 175.7m | PLN 176.5m | PLN 155.1m | PLN 119.8m | PLN 108.1m |
| Cash and short-term investments | PLN 2.0m | PLN 2.9m | PLN 8.7m | PLN 9.7m | PLN 7.8m | PLN 2.6m | PLN 877,000 | PLN 839,000 | PLN 16.9m | PLN 11.4m |
| Total liabilities | PLN 40.8m | PLN 42.8m | PLN 33.8m | PLN 39.5m | PLN 70.1m | PLN 46.6m | PLN 48.0m | PLN 39.9m | PLN 15.3m | PLN 15.4m |
| Debt | PLN 4.9m | PLN 5.3m | PLN 4.9m | PLN 5.0m | PLN 15.3m | PLN 9.9m | PLN 19.5m | PLN 4.7m | PLN 301,000 | PLN 513,000 |
| Shareholders' equity | PLN 123.1m | PLN 123.1m | PLN 130.5m | PLN 147.3m | PLN 125.9m | PLN 129.1m | PLN 128.4m | PLN 115.2m | PLN 104.6m | PLN 92.6m |
| Shares outstanding | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 22.9m | PLN 29.2m | PLN 35.9m | PLN 14.3m | PLN 54.0m | PLN 55.8m | PLN 4.1m | PLN 9.5m | PLN 15.2m | PLN 19.0m |
| Capital spending | −PLN 3.4m | −PLN 4.1m | −PLN 3.0m | −PLN 1.7m | −PLN 2.6m | −PLN 4.5m | −PLN 21.1m | −PLN 42.4m | −PLN 12.4m | −PLN 5.5m |
| Free cash flow | PLN 19.4m | PLN 25.1m | PLN 32.9m | PLN 12.6m | PLN 51.4m | PLN 51.4m | −PLN 17.0m | −PLN 32.9m | PLN 2.7m | PLN 13.5m |
| Dividends paid | −PLN 20.0m | −PLN 31.0m | −PLN 40.0m | — | −PLN 53.0m | −PLN 40.0m | −PLN 13.0m | −PLN 13.0m | −PLN 13.0m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 51.4m | PLN 44.9m | PLN 42.2m | PLN 44.6m | PLN 46.1m | PLN 49.8m | PLN 48.8m | PLN 53.3m |
| Gross profit | PLN 15.4m | PLN 12.2m | PLN 12.1m | PLN 12.5m | PLN 11.8m | PLN 12.1m | PLN 12.1m | PLN 14.7m |
| Operating income | PLN 8.4m | PLN 5.6m | PLN 5.4m | PLN 6.2m | PLN 5.9m | PLN 5.8m | PLN 5.9m | PLN 8.4m |
| Net income | PLN 6.5m | PLN 4.2m | PLN 4.7m | PLN 5.2m | PLN 5.4m | PLN 4.8m | PLN 3.9m | PLN 7.3m |
| Diluted earnings per share | 2.59 | 1.69 | 1.87 | 2.06 | 2.14 | 1.93 | 1.58 | 2.92 |
| Cash from operations | PLN 5.0m | PLN 8.0m | PLN 6.0m | PLN 11.0m | PLN 7.0m | −PLN 1.0m | PLN 12.0m | PLN 3.0m |
| Capital spending | — | −PLN 1.0m | −PLN 1.0m | −PLN 1.0m | — | — | −PLN 1.0m | −PLN 1.0m |
| Free cash flow | — | PLN 7.0m | PLN 5.0m | PLN 10.0m | — | — | PLN 11.0m | PLN 2.0m |
| Total assets | PLN 195.1m | PLN 179.6m | PLN 163.8m | PLN 186.0m | PLN 175.1m | PLN 170.7m | PLN 165.9m | PLN 170.7m |
| Cash and short-term investments | PLN 14.5m | PLN 8.9m | PLN 2.0m | PLN 16.8m | PLN 6.4m | PLN 491,000 | PLN 2.9m | PLN 270,000 |
| Debt | PLN 1.1m | — | PLN 29,000 | — | PLN 15,000 | PLN 248,000 | PLN 374,000 | PLN 958,000 |
| Shareholders' equity | PLN 113.8m | PLN 127.3m | PLN 123.1m | PLN 138.4m | PLN 133.3m | PLN 127.9m | PLN 123.1m | PLN 127.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.8% | -1.9% | 8.1% |
| Operating income | -6.6% | -14.2% | 5.5% |
| Net income | -2.2% | -13.2% | 6.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.8% | 24.2% | 28.5% | 29.1% |
| Operating margin | 13.6% | 13.1% | 17.6% | 17.5% |
| Net margin | 11.4% | 10.8% | 14.4% | 14.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.2 | 12.3 | 13.4 | 10.8 | 8.2 | 8.0 | 7.7 | 11.6 | 10.2 | 9.7 |
| Price to sales | 1.3 | 1.4 | 1.7 | 0.9 | 1.9 | 1.6 | 0.9 | 1.4 | 1.4 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 9 Dec 2025.
| FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 8.00 | 12.40 | 16.00 | 21.20 | 16.00 | 6.95 | 2.03 | 1.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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