16.57
+0.30%
Close of 9 Nov 2026, in PLN
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At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 13.13bn
FY2016FY2025
Net income
PLN 762.0m
FY2016FY2025
Free cash flow
PLN 769.0m
FY2016FY2025
Shareholders' equity
PLN 13.52bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 13.13bn | PLN 12.73bn | PLN 12.97bn | PLN 12.49bn | PLN 11.93bn | PLN 11.51bn | PLN 11.41bn | PLN 11.10bn | PLN 11.38bn | PLN 11.54bn |
| Research and development | — | — | PLN 55.0m | PLN 51.0m | PLN 57.0m | PLN 59.0m | PLN 53.0m | PLN 54.0m | PLN 52.0m | PLN 48.0m |
| Operating income | PLN 552.0m | PLN 1.42bn | PLN 1.22bn | PLN 1.16bn | PLN 840.0m | PLN 340.0m | PLN 416.0m | PLN 315.0m | PLN 229.0m | −PLN 1.35bn |
| Net income | PLN 762.0m | PLN 913.0m | PLN 818.0m | PLN 724.0m | PLN 1.67bn | PLN 46.0m | PLN 91.0m | PLN 10.0m | −PLN 60.0m | −PLN 1.75bn |
| Diluted earnings per share | 0.58 | 0.70 | 0.62 | 0.55 | 1.27 | 0.04 | 0.07 | 0.01 | -0.05 | -1.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 27.01bn | PLN 26.60bn | PLN 26.83bn | PLN 26.77bn | PLN 26.16bn | PLN 24.30bn | PLN 24.34bn | PLN 23.30bn | PLN 22.93bn | PLN 22.59bn |
| Cash and short-term investments | PLN 518.0m | PLN 546.0m | PLN 796.0m | PLN 1.03bn | PLN 933.0m | PLN 358.0m | PLN 404.0m | PLN 611.0m | PLN 646.0m | PLN 262.0m |
| Total liabilities | PLN 13.48bn | PLN 12.96bn | PLN 13.38bn | PLN 13.31bn | PLN 13.55bn | PLN 13.70bn | PLN 13.77bn | PLN 12.79bn | PLN 12.99bn | PLN 12.58bn |
| Debt | PLN 7.26bn | PLN 7.07bn | PLN 7.15bn | PLN 7.75bn | PLN 7.78bn | PLN 8.70bn | PLN 8.92bn | PLN 7.46bn | PLN 7.04bn | PLN 7.16bn |
| Shareholders' equity | PLN 13.52bn | PLN 13.64bn | PLN 13.44bn | PLN 13.45bn | PLN 12.61bn | PLN 10.60bn | PLN 10.56bn | PLN 10.50bn | PLN 9.94bn | PLN 10.01bn |
| Shares outstanding | 1,312m | 1,312m | 1,312m | 1,312m | 1,312m | 1,312m | 1,312m | 1,312m | 1,312m | 1,312m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 3.60bn | PLN 3.41bn | PLN 3.45bn | PLN 2.94bn | PLN 3.10bn | PLN 3.00bn | PLN 2.78bn | PLN 1.81bn | PLN 2.06bn | PLN 2.55bn |
| Capital spending | −PLN 2.83bn | −PLN 2.42bn | −PLN 2.29bn | −PLN 2.32bn | −PLN 2.20bn | −PLN 2.24bn | −PLN 2.42bn | −PLN 2.35bn | −PLN 1.93bn | −PLN 5.17bn |
| Free cash flow | PLN 769.0m | PLN 995.0m | PLN 1.16bn | PLN 616.0m | PLN 902.0m | PLN 769.0m | PLN 351.0m | −PLN 534.0m | PLN 130.0m | −PLN 2.62bn |
| Dividends paid | −PLN 696.0m | −PLN 630.0m | −PLN 459.0m | −PLN 328.0m | −PLN 328.0m | −PLN 328.0m | −PLN 328.0m | — | — | −PLN 328.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 3.50bn | PLN 3.18bn | PLN 3.49bn | PLN 3.33bn | PLN 3.16bn | PLN 3.15bn | PLN 3.42bn | PLN 3.10bn |
| Operating income | PLN 325.0m | PLN 284.0m | PLN 230.0m | PLN 307.0m | PLN 420.0m | PLN 312.0m | PLN 340.0m | PLN 370.0m |
| Net income | PLN 281.0m | PLN 295.0m | PLN 69.0m | PLN 228.0m | PLN 274.0m | PLN 191.0m | PLN 201.0m | PLN 254.0m |
| Diluted earnings per share | 0.21 | 0.22 | 0.05 | 0.17 | 0.21 | 0.15 | 0.15 | 0.19 |
| Cash from operations | PLN 894.0m | PLN 738.0m | PLN 931.0m | PLN 880.0m | PLN 1.06bn | PLN 729.0m | PLN 933.0m | PLN 860.0m |
| Capital spending | −PLN 632.0m | −PLN 591.0m | −PLN 478.0m | −PLN 366.0m | −PLN 931.0m | −PLN 721.0m | −PLN 596.0m | −PLN 480.0m |
| Free cash flow | PLN 262.0m | PLN 147.0m | PLN 453.0m | PLN 514.0m | PLN 130.0m | PLN 8.0m | PLN 337.0m | PLN 380.0m |
| Total assets | PLN 27.09bn | PLN 26.77bn | PLN 27.01bn | PLN 26.68bn | PLN 27.07bn | PLN 26.49bn | PLN 26.60bn | PLN 26.00bn |
| Cash and short-term investments | PLN 754.0m | PLN 481.0m | PLN 518.0m | PLN 618.0m | PLN 648.0m | PLN 522.0m | PLN 546.0m | PLN 379.0m |
| Debt | PLN 4.90bn | PLN 4.88bn | PLN 5.65bn | PLN 690.0m | PLN 5.09bn | PLN 5.05bn | PLN 4.72bn | PLN 4.76bn |
| Shareholders' equity | PLN 13.29bn | PLN 13.90bn | PLN 13.52bn | PLN 13.50bn | PLN 13.29bn | PLN 13.78bn | PLN 13.64bn | PLN 13.43bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 8.0% | 11.1% | 9.4% | 9.3% | 7.0% | 3.0% | — | — |
| Net margin | 5.8% | 7.2% | 6.3% | 5.8% | 14.0% | 0.4% | — | — |
| Return on equity | 5.6% | 6.7% | 6.1% | 5.4% | 13.3% | 0.4% | — | — |
| Return on assets | 2.8% | 3.4% | 3.0% | 2.7% | 6.4% | 0.2% | — | — |
| Free cash flow yield | 37.7% | 34.1% | 33.7% | 30.8% | 31.0% | 30.7% | — | — |
| Revenue growth | 3.1% | -1.8% | 3.9% | 4.7% | 3.6% | 0.9% | — | — |
| Earnings growth | -16.5% | 11.6% | 13.0% | -56.7% | 3534.8% | -49.5% | — | — |
| Current ratio | 0.44x | 0.78x | 0.65x | 0.86x | 0.95x | 0.44x | — | — |
| Debt to equity | 0.37x | 0.35x | 0.36x | 0.41x | 0.44x | 0.61x | — | — |
| Equity ratio | 50.1% | 51.3% | 50.1% | 50.3% | 48.2% | 43.6% | — | — |
| Interest coverage | 2.96x | 4.48x | 4.22x | 3.59x | 2.60x | 1.07x | — | — |
| R&D as a share of sales | — | — | 0.4% | 0.4% | 0.5% | 0.5% | 0.5% | 0.5% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.7% | 2.7% | 1.0% |
| Operating income | -22.0% | 10.2% | -0.4% |
| Net income | 1.7% | 75.3% | 11.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.6% | 8.5% | 7.4% | 4.3% |
| Net margin | 6.5% | 6.3% | 6.6% | 2.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 17.5 | 10.6 | 13.1 | 12.0 | 6.6 | 188.0 | 102.7 | — | -126.6 | -4.1 |
| Price to sales | 1.0 | 0.8 | 0.8 | 0.7 | 0.9 | 0.8 | 0.8 | 0.6 | 0.7 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 23 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2015 | FY2014 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.61 | 0.53 | 0.48 | 0.35 | 0.25 | 0.75 | 0.50 | 2.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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