O 
101.80
-0.20%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 2.37bn
FY2016FY2025
Net income
PLN 52.1m
FY2016FY2025
Free cash flow
−PLN 120.5m
FY2016FY2025
Shareholders' equity
PLN 250.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 2.37bn | PLN 2.11bn | PLN 1.87bn | PLN 1.70bn | PLN 1.51bn | PLN 1.06bn | PLN 962.1m | PLN 843.0m | PLN 708.5m | PLN 545.8m |
| Gross profit | PLN 525.8m | PLN 481.3m | PLN 370.8m | PLN 334.7m | PLN 309.1m | PLN 217.2m | PLN 183.5m | PLN 158.2m | PLN 128.9m | PLN 94.1m |
| Research and development | — | — | — | — | — | — | PLN 12.6m | — | — | — |
| Operating income | PLN 100.4m | PLN 124.5m | PLN 69.4m | PLN 63.3m | PLN 79.5m | PLN 36.9m | PLN 29.4m | PLN 24.4m | PLN 15.5m | PLN 23.7m |
| Net income | PLN 52.1m | PLN 84.7m | PLN 54.5m | PLN 40.7m | PLN 60.2m | PLN 32.1m | PLN 20.2m | PLN 16.8m | PLN 17.7m | PLN 16.0m |
| Diluted earnings per share | 4.64 | 7.54 | 4.74 | 2.92 | 4.34 | 2.30 | 1.45 | 1.20 | 1.27 | 1.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 1.15bn | PLN 809.9m | PLN 679.1m | PLN 687.5m | PLN 618.7m | PLN 381.3m | PLN 346.9m | PLN 300.5m | PLN 273.8m | PLN 225.6m |
| Cash and short-term investments | PLN 39.8m | PLN 58.5m | PLN 85.4m | PLN 126.4m | PLN 213.0m | PLN 56.4m | PLN 79.3m | PLN 71.1m | PLN 82.1m | PLN 95.6m |
| Total liabilities | PLN 843.4m | PLN 488.7m | PLN 391.0m | PLN 323.2m | PLN 268.2m | PLN 155.0m | PLN 174.8m | PLN 137.4m | PLN 122.2m | PLN 94.4m |
| Debt | PLN 421.9m | PLN 163.0m | PLN 153.6m | PLN 80.2m | PLN 9.2m | PLN 17.7m | PLN 16.0m | PLN 394,000 | PLN 619,000 | PLN 20.5m |
| Shareholders' equity | PLN 250.8m | PLN 272.8m | PLN 247.1m | PLN 360.0m | PLN 347.8m | PLN 226.3m | PLN 172.2m | PLN 157.9m | PLN 146.0m | PLN 131.2m |
| Shares outstanding | 11m | 11m | 11m | 14m | 14m | 14m | 14m | 14m | 14m | 14m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 97.5m | PLN 85.4m | PLN 78.8m | −PLN 19.4m | PLN 96.2m | PLN 21.3m | PLN 22.6m | PLN 10.8m | PLN 24.4m | PLN 31.1m |
| Capital spending | −PLN 23.0m | −PLN 15.0m | −PLN 22.9m | −PLN 31.0m | −PLN 32.8m | −PLN 5.1m | −PLN 8.0m | −PLN 7.7m | −PLN 11.8m | −PLN 10.4m |
| Free cash flow | −PLN 120.5m | PLN 70.4m | PLN 56.0m | −PLN 50.3m | PLN 63.4m | PLN 16.2m | PLN 14.6m | PLN 3.1m | PLN 12.6m | PLN 20.7m |
| Dividends paid | −PLN 76.4m | −PLN 56.2m | −PLN 27.5m | −PLN 19.5m | −PLN 13.9m | −PLN 1.4m | −PLN 5.6m | −PLN 4.9m | −PLN 2.8m | −PLN 2.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 704.4m | PLN 543.3m | PLN 944.3m | PLN 450.0m | PLN 591.2m | PLN 385.3m | PLN 876.5m | PLN 381.0m |
| Gross profit | PLN 185.3m | PLN 120.3m | PLN 198.9m | PLN 100.4m | PLN 144.2m | PLN 82.3m | PLN 196.3m | PLN 86.1m |
| Operating income | PLN 49.8m | PLN 21.6m | PLN 42.2m | PLN 16.0m | PLN 39.0m | PLN 1.4m | PLN 73.5m | PLN 13.2m |
| Net income | PLN 25.3m | PLN 9.3m | PLN 25.1m | PLN 3.0m | PLN 24.0m | PLN 3,000 | PLN 55.1m | PLN 6.5m |
| Diluted earnings per share | 2.25 | 0.83 | 2.23 | 0.27 | 2.13 | 0.00 | 4.90 | 0.58 |
| Cash from operations | −PLN 76.0m | PLN 23.0m | PLN 70.0m | −PLN 11.0m | −PLN 50.0m | −PLN 91.0m | PLN 112.0m | PLN 21.0m |
| Capital spending | −PLN 11.0m | −PLN 13.0m | −PLN 6.0m | −PLN 5.0m | −PLN 9.0m | −PLN 6.0m | −PLN 3.0m | −PLN 5.0m |
| Free cash flow | −PLN 87.0m | PLN 10.0m | PLN 64.0m | −PLN 16.0m | −PLN 59.0m | −PLN 97.0m | PLN 109.0m | PLN 16.0m |
| Total assets | PLN 1.36bn | PLN 1.39bn | PLN 1.15bn | PLN 1.41bn | PLN 1.09bn | PLN 979.1m | PLN 809.9m | PLN 974.1m |
| Cash and short-term investments | PLN 47.8m | PLN 62.5m | PLN 39.8m | PLN 48.4m | PLN 50.8m | PLN 51.2m | PLN 58.5m | PLN 55.2m |
| Debt | PLN 455.9m | PLN 324.9m | PLN 320.3m | PLN 386.3m | PLN 357.5m | PLN 21.8m | PLN 126.0m | PLN 17.2m |
| Shareholders' equity | PLN 251.9m | PLN 260.1m | PLN 250.8m | PLN 223.2m | PLN 220.4m | PLN 272.8m | PLN 272.8m | PLN 220.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.8% | 17.4% | 19.0% |
| Operating income | 16.6% | 22.2% | 24.6% |
| Net income | 8.6% | 10.2% | 17.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 22.5% | 21.3% | 21.1% | 20.4% |
| Operating margin | 5.0% | 4.4% | 4.5% | 4.1% |
| Net margin | 3.1% | 2.9% | 3.1% | 2.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.8 | 10.7 | 10.4 | 12.3 | 14.7 | 17.9 | 15.5 | 17.0 | 31.9 | 41.0 |
| Price to sales | 0.4 | 0.4 | 0.3 | 0.3 | 0.6 | 0.5 | 0.3 | 0.3 | 0.8 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 14 years. Last went ex-dividend on 22 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.50 | 6.80 | 5.00 | 2.00 | 1.36 | 1.00 | 0.10 | 0.40 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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