P 
20.20
-5.61%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 492.5m
FY2016FY2025
Net income
PLN 6.2m
FY2016FY2025
Free cash flow
−PLN 1.4m
FY2016FY2025
Shareholders' equity
PLN 166.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 492.5m | PLN 444.5m | PLN 427.2m | PLN 532.4m | PLN 312.1m | PLN 341.9m | PLN 272.0m | PLN 261.9m | PLN 199.2m | PLN 123.1m |
| Gross profit | PLN 88.3m | PLN 89.7m | PLN 92.7m | PLN 103.1m | PLN 55.9m | PLN 70.3m | PLN 54.0m | PLN 51.4m | PLN 44.7m | PLN 39.0m |
| Operating income | PLN 11.4m | PLN 12.4m | PLN 22.4m | PLN 35.2m | PLN 2.3m | PLN 21.9m | PLN 8.6m | PLN 16.7m | PLN 15.0m | −PLN 2.3m |
| Net income | PLN 6.2m | PLN 10.5m | PLN 17.7m | PLN 28.6m | PLN 1.9m | PLN 14.9m | PLN 5.6m | PLN 11.0m | PLN 10.8m | −PLN 4.7m |
| Diluted earnings per share | 1.04 | 1.75 | 2.95 | 4.76 | 0.31 | 2.49 | 0.93 | 1.85 | 1.81 | -0.79 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 608.3m | PLN 395.9m | PLN 406.5m | PLN 344.7m | PLN 314.5m | PLN 243.9m | PLN 235.4m | PLN 188.7m | PLN 187.6m | PLN 129.7m |
| Cash and short-term investments | PLN 14.7m | PLN 13.1m | PLN 22.1m | PLN 33.4m | PLN 21.8m | PLN 9.8m | PLN 19.1m | PLN 12.5m | PLN 5.4m | PLN 7.8m |
| Total liabilities | PLN 442.1m | PLN 232.8m | PLN 245.0m | PLN 196.2m | PLN 195.0m | PLN 124.1m | PLN 127.6m | PLN 83.2m | PLN 86.2m | PLN 38.6m |
| Debt | PLN 223.4m | PLN 99.3m | PLN 110.6m | PLN 52.8m | PLN 59.7m | PLN 43.8m | PLN 37.6m | PLN 21.4m | PLN 22.6m | PLN 4.4m |
| Shareholders' equity | PLN 166.2m | PLN 163.1m | PLN 161.5m | PLN 148.5m | PLN 119.5m | PLN 119.8m | PLN 107.7m | PLN 105.5m | PLN 101.4m | PLN 91.0m |
| Shares outstanding | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 6m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 15.1m | PLN 6.4m | PLN 14.5m | PLN 22.5m | PLN 18.2m | PLN 27.0m | PLN 12.3m | PLN 20.1m | PLN 4.6m | PLN 2.9m |
| Capital spending | −PLN 16.5m | −PLN 3.7m | −PLN 12.1m | −PLN 1.4m | −PLN 8.2m | −PLN 12.6m | −PLN 8.5m | −PLN 2.3m | −PLN 1.4m | −PLN 6.5m |
| Free cash flow | −PLN 1.4m | PLN 2.8m | PLN 2.4m | PLN 21.0m | PLN 10.0m | PLN 14.4m | PLN 3.8m | PLN 17.8m | PLN 3.2m | −PLN 3.6m |
| Dividends paid | −PLN 3.1m | −PLN 8.4m | −PLN 3.1m | — | −PLN 2.0m | −PLN 3.6m | −PLN 3.6m | −PLN 6.6m | −PLN 6.6m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 122.3m | PLN 86.8m | PLN 138.9m | PLN 135.3m | PLN 108.7m | PLN 109.5m | PLN 113.4m | PLN 115.3m |
| Gross profit | PLN 22.9m | PLN 19.6m | PLN 28.0m | PLN 18.1m | PLN 23.1m | PLN 21.4m | PLN 23.4m | PLN 25.4m |
| Operating income | PLN 1.5m | −PLN 1.5m | PLN 7.6m | −PLN 1.9m | PLN 4.5m | PLN 1.8m | PLN 5.3m | PLN 7.1m |
| Net income | PLN 10,000 | −PLN 1.9m | PLN 5.6m | −PLN 2.0m | PLN 1.9m | PLN 707,000 | PLN 5.2m | PLN 5.0m |
| Diluted earnings per share | 0.00 | -0.32 | 0.94 | -0.34 | 0.33 | 0.12 | 0.87 | 0.84 |
| Cash from operations | −PLN 1.0m | −PLN 10.0m | PLN 10.0m | PLN 9.0m | PLN 1.0m | −PLN 2.0m | PLN 11.0m | — |
| Capital spending | −PLN 7.0m | −PLN 1.0m | −PLN 2.0m | −PLN 1.0m | −PLN 1.0m | −PLN 11.0m | −PLN 1.0m | — |
| Free cash flow | −PLN 8.0m | −PLN 11.0m | PLN 8.0m | PLN 8.0m | PLN 0 | −PLN 13.0m | PLN 10.0m | — |
| Total assets | PLN 645.7m | PLN 614.5m | PLN 608.3m | PLN 425.9m | PLN 409.3m | PLN 394.7m | PLN 395.9m | PLN 433.6m |
| Cash and short-term investments | PLN 12.6m | PLN 24.7m | PLN 14.7m | PLN 9.2m | PLN 3.5m | PLN 4.2m | PLN 13.1m | PLN 7.3m |
| Debt | PLN 235.3m | PLN 216.7m | PLN 219.6m | PLN 96.3m | PLN 97.9m | PLN 96.7m | PLN 92.5m | PLN 117.6m |
| Shareholders' equity | PLN 160.9m | PLN 164.6m | PLN 166.2m | PLN 160.8m | PLN 162.7m | PLN 163.3m | PLN 163.1m | PLN 158.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.6% | 7.6% | 14.2% |
| Operating income | -31.4% | -12.2% | — |
| Net income | -39.9% | -16.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.0% | 19.7% | 19.6% | 20.4% |
| Operating margin | 2.5% | 4.3% | 4.1% | 3.9% |
| Net margin | 1.8% | 3.3% | 3.1% | 2.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.1 | 8.6 | 5.3 | 2.5 | 39.5 | 6.5 | 14.3 | 12.2 | 8.8 | -10.3 |
| Price to sales | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.3 | 0.3 | 0.5 | 0.5 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 18 Aug 2025.
| FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2019 | FY2018 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.51 | 1.40 | 0.51 | 0.34 | 0.60 | 0.60 | 1.10 | 0.60 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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