W 
9.85
+2.07%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 69.9m
FY2016FY2025
Net income
PLN 16.1m
FY2016FY2025
Free cash flow
PLN 13.9m
FY2016FY2025
Shareholders' equity
PLN 155.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 69.9m | PLN 159.2m | PLN 80.1m | PLN 75.5m | PLN 138.2m | PLN 71.8m | PLN 77.1m | PLN 43.8m | PLN 68.9m | PLN 73.3m |
| Gross profit | PLN 26.5m | PLN 55.3m | PLN 26.6m | PLN 25.0m | PLN 53.7m | PLN 17.6m | PLN 16.4m | PLN 7.5m | PLN 16.2m | PLN 17.9m |
| Research and development | — | — | PLN 0 | PLN 0 | PLN 0 | PLN 0 | PLN 0 | PLN 0 | PLN 0 | PLN 0 |
| Operating income | PLN 17.6m | PLN 47.3m | PLN 19.7m | PLN 20.5m | PLN 46.5m | −PLN 46.9m | −PLN 65.0m | PLN 2.0m | PLN 7.8m | PLN 12.1m |
| Net income | PLN 16.1m | PLN 52.2m | PLN 16.4m | PLN 16.1m | PLN 36.3m | PLN 5.1m | PLN 885,000 | −PLN 4.3m | PLN 1.1m | PLN 2.7m |
| Diluted earnings per share | 0.81 | 2.64 | 0.83 | 0.81 | 1.79 | 0.25 | 0.04 | -0.22 | 0.06 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 256.6m | PLN 231.6m | PLN 278.3m | PLN 248.9m | PLN 216.9m | PLN 252.1m | PLN 235.4m | PLN 230.7m | PLN 198.7m | PLN 203.7m |
| Cash and short-term investments | PLN 22.4m | PLN 3.1m | PLN 23.2m | PLN 5.9m | PLN 18.6m | PLN 21.2m | PLN 5.5m | PLN 2.0m | PLN 2.0m | PLN 12.2m |
| Total liabilities | PLN 101.1m | PLN 82.1m | PLN 174.2m | PLN 156.2m | PLN 135.8m | PLN 204.4m | PLN 192.7m | PLN 188.6m | PLN 152.2m | PLN 158.4m |
| Debt | PLN 10.2m | PLN 11.6m | PLN 22.7m | PLN 42.8m | PLN 57.6m | PLN 97.7m | PLN 82.1m | PLN 83.3m | PLN 97.6m | PLN 99.5m |
| Shareholders' equity | PLN 155.4m | PLN 149.4m | PLN 104.2m | PLN 92.7m | PLN 81.1m | PLN 47.8m | PLN 42.7m | PLN 42.1m | PLN 46.5m | PLN 45.3m |
| Shares outstanding | 20m | 20m | 20m | 20m | 20m | 20m | 20m | 20m | 20m | 20m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 14.0m | −PLN 4.3m | PLN 30.4m | PLN 669,000 | PLN 28.0m | PLN 6.7m | PLN 4.0m | PLN 23.1m | PLN 12.9m | PLN 9.5m |
| Capital spending | −PLN 114,000 | −PLN 222,000 | −PLN 215,000 | −PLN 208,000 | −PLN 372,000 | −PLN 187,000 | −PLN 98,000 | −PLN 2.0m | −PLN 135,000 | −PLN 245,000 |
| Free cash flow | PLN 13.9m | −PLN 4.5m | PLN 30.1m | PLN 461,000 | PLN 27.6m | PLN 6.5m | PLN 3.9m | PLN 21.1m | PLN 12.7m | PLN 9.2m |
| Dividends paid | — | −PLN 7.9m | −PLN 4.9m | −PLN 4.9m | −PLN 3.0m | −PLN 3.0m | −PLN 3.0m | −PLN 3.0m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 4.8m | PLN 6.9m | PLN 36.4m | PLN 14.5m | PLN 11.6m | PLN 7.5m | PLN 18.5m | PLN 49.6m |
| Gross profit | PLN 2.0m | PLN 2.9m | PLN 14.9m | PLN 5.0m | PLN 3.7m | PLN 2.9m | PLN 9.1m | PLN 18.2m |
| Operating income | −PLN 1.8m | PLN 786,000 | PLN 10.0m | PLN 3.2m | PLN 2.9m | PLN 1.4m | PLN 6.4m | PLN 31.5m |
| Net income | −PLN 1.8m | PLN 577,000 | PLN 10.1m | PLN 2.6m | PLN 2.5m | PLN 824,000 | PLN 4.1m | PLN 28.7m |
| Diluted earnings per share | -0.10 | 0.03 | 0.51 | 0.13 | 0.13 | 0.04 | 0.21 | 1.45 |
| Cash from operations | — | PLN 11.0m | PLN 12.0m | PLN 8.0m | — | −PLN 7.0m | −PLN 7.0m | −PLN 8.0m |
| Total assets | PLN 288.0m | PLN 268.7m | PLN 256.6m | PLN 261.7m | PLN 257.6m | PLN 242.2m | PLN 231.6m | PLN 238.2m |
| Cash and short-term investments | PLN 38.4m | PLN 32.0m | PLN 22.4m | PLN 4.1m | PLN 1.7m | PLN 2.0m | PLN 3.1m | PLN 24.1m |
| Debt | PLN 1.8m | PLN 8.3m | PLN 2.0m | PLN 8.9m | PLN 10.3m | PLN 16.3m | PLN 9.9m | PLN 14.6m |
| Shareholders' equity | PLN 154.8m | PLN 156.0m | PLN 155.4m | PLN 155.7m | PLN 153.1m | PLN 150.3m | PLN 149.4m | PLN 144.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.5% | -0.5% | -2.8% |
| Operating income | -5.0% | — | 6.3% |
| Net income | -0.0% | 25.9% | 62.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 35.7% | 34.7% | 34.4% | 29.3% |
| Operating margin | 28.3% | 27.3% | 17.6% | 7.5% |
| Net margin | 29.8% | 26.2% | 23.9% | 15.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.8 | 2.1 | 5.7 | 3.8 | 1.9 | 10.7 | 24.9 | -3.0 | 18.4 | 9.8 |
| Price to sales | 2.0 | 0.7 | 1.2 | 0.8 | 0.5 | 0.8 | 0.3 | 0.3 | 0.3 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Sept 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Paid in the year | 0.40 | 0.25 | 0.25 | 0.15 |
- 10-to-1 reverse split · 22 Dec 2014
- 10-to-1 reverse split · 31 Oct 2011
- 30-for-1 split · 25 Aug 2006
- 5-for-1 split · 29 Apr 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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