R 
15.25
-3.48%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 1.07bn
FY2016FY2025
Net income
PLN 19.5m
FY2016FY2025
Free cash flow
PLN 14.6m
FY2016FY2025
Shareholders' equity
PLN 675.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 1.07bn | PLN 1.13bn | PLN 1.17bn | PLN 1.22bn | PLN 1.01bn | PLN 787.6m | PLN 813.7m | PLN 775.5m | PLN 708.6m | PLN 674.9m |
| Gross profit | PLN 419.8m | PLN 431.8m | PLN 406.1m | PLN 446.9m | PLN 407.0m | PLN 284.8m | PLN 274.6m | PLN 264.2m | PLN 239.4m | PLN 227.7m |
| Research and development | — | — | — | PLN 212,000 | PLN 45,000 | PLN 65,000 | PLN 108,000 | PLN 234,000 | PLN 301,000 | — |
| Operating income | PLN 67.4m | PLN 118.8m | PLN 91.1m | PLN 159.0m | PLN 160.2m | PLN 80.0m | PLN 55.9m | PLN 61.3m | PLN 57.3m | PLN 52.2m |
| Net income | PLN 19.5m | PLN 53.0m | PLN 32.6m | PLN 108.8m | PLN 112.2m | PLN 50.1m | PLN 30.5m | PLN 34.4m | PLN 28.8m | PLN 32.1m |
| Diluted earnings per share | 0.63 | 1.71 | 1.05 | 3.50 | 3.61 | 1.61 | 0.94 | 1.06 | 0.89 | 0.98 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 1.55bn | PLN 1.45bn | PLN 1.41bn | PLN 1.41bn | PLN 1.21bn | PLN 996.7m | PLN 974.4m | PLN 976.3m | PLN 868.8m | PLN 852.5m |
| Cash and short-term investments | PLN 88.0m | PLN 81.2m | PLN 77.7m | PLN 52.6m | PLN 64.4m | PLN 47.4m | PLN 47.6m | PLN 48.9m | PLN 37.4m | PLN 33.7m |
| Total liabilities | PLN 796.9m | PLN 704.0m | PLN 705.6m | PLN 668.8m | PLN 567.3m | PLN 469.6m | PLN 496.9m | PLN 514.0m | PLN 438.9m | PLN 431.1m |
| Debt | PLN 542.1m | PLN 463.3m | PLN 469.0m | PLN 414.1m | PLN 356.6m | PLN 307.7m | PLN 327.0m | PLN 307.5m | PLN 255.1m | PLN 263.1m |
| Shareholders' equity | PLN 675.2m | PLN 682.3m | PLN 646.0m | PLN 668.0m | PLN 582.7m | PLN 478.2m | PLN 434.8m | PLN 422.3m | PLN 396.0m | PLN 390.0m |
| Shares outstanding | 31m | 31m | 31m | 31m | 31m | 31m | 33m | 33m | 33m | 33m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 67.8m | PLN 123.3m | PLN 154.9m | PLN 84.8m | PLN 77.1m | PLN 106.3m | PLN 78.4m | PLN 49.6m | PLN 71.5m | PLN 73.9m |
| Capital spending | −PLN 53.2m | −PLN 55.4m | −PLN 70.5m | −PLN 65.5m | −PLN 50.2m | −PLN 39.0m | −PLN 50.1m | −PLN 50.9m | −PLN 46.0m | −PLN 42.2m |
| Free cash flow | PLN 14.6m | PLN 67.9m | PLN 84.4m | PLN 19.3m | PLN 26.9m | PLN 67.4m | PLN 28.3m | −PLN 1.4m | PLN 25.5m | PLN 31.7m |
| Dividends paid | −PLN 12.4m | −PLN 12.4m | −PLN 43.2m | −PLN 18.6m | −PLN 12.4m | −PLN 617,000 | −PLN 11.4m | −PLN 11.6m | −PLN 11.9m | −PLN 10.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 285.9m | PLN 254.6m | PLN 247.8m | PLN 292.7m | PLN 256.3m | PLN 272.2m | PLN 274.0m | PLN 290.3m |
| Gross profit | PLN 123.3m | PLN 102.6m | PLN 104.8m | PLN 115.7m | PLN 102.5m | PLN 96.9m | PLN 108.6m | PLN 112.6m |
| Operating income | PLN 30.4m | PLN 15.7m | PLN 11.6m | PLN 30.7m | PLN 11.5m | PLN 9.3m | PLN 25.2m | PLN 33.0m |
| Net income | PLN 11.3m | PLN 7.0m | PLN 8.4m | PLN 15.4m | −PLN 5.3m | PLN 1.0m | PLN 14.9m | PLN 15.3m |
| Diluted earnings per share | 0.36 | 0.23 | 0.27 | 0.49 | -0.17 | 0.03 | 0.48 | 0.49 |
| Cash from operations | PLN 39.0m | −PLN 24.0m | PLN 37.0m | PLN 52.0m | PLN 8.0m | −PLN 16.0m | PLN 35.0m | PLN 46.0m |
| Capital spending | −PLN 12.0m | −PLN 3.0m | −PLN 11.0m | −PLN 14.0m | −PLN 15.0m | −PLN 11.0m | −PLN 10.0m | −PLN 23.0m |
| Free cash flow | PLN 27.0m | −PLN 27.0m | PLN 26.0m | PLN 38.0m | −PLN 7.0m | −PLN 27.0m | PLN 25.0m | PLN 23.0m |
| Total assets | PLN 1.63bn | PLN 1.59bn | PLN 1.55bn | PLN 1.58bn | PLN 1.55bn | PLN 1.54bn | PLN 1.45bn | PLN 1.45bn |
| Cash and short-term investments | PLN 110.3m | PLN 84.7m | PLN 88.0m | PLN 98.2m | PLN 77.3m | PLN 77.2m | PLN 81.2m | PLN 77.3m |
| Debt | PLN 531.5m | PLN 522.3m | PLN 527.2m | PLN 520.4m | PLN 521.0m | PLN 512.0m | PLN 459.0m | PLN 438.6m |
| Shareholders' equity | PLN 706.7m | PLN 686.7m | PLN 675.2m | PLN 667.8m | PLN 652.1m | PLN 670.0m | PLN 682.3m | PLN 667.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.3% | 6.3% | 4.7% |
| Operating income | -24.9% | -3.4% | 5.5% |
| Net income | -43.7% | -17.2% | -0.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 38.7% | 37.2% | 37.5% | 36.0% |
| Operating margin | 8.5% | 9.5% | 10.6% | 9.4% |
| Net margin | 3.3% | 4.7% | 5.9% | 5.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.8 | 9.6 | 14.5 | 4.0 | 5.0 | 5.6 | 9.0 | 8.0 | 10.8 | 11.1 |
| Price to sales | 0.4 | 0.5 | 0.4 | 0.4 | 0.6 | 0.3 | 0.3 | 0.3 | 0.4 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 13 Aug 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.40 | 0.40 | 0.60 | 0.60 | 0.38 | 0.33 | 0.33 | 0.33 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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