54.70
-0.55%
Close of 9 Nov 2026, in PLN
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At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 2.21bn
FY2016FY2025
Net income
−PLN 34.1m
FY2016FY2025
Free cash flow
PLN 265.7m
FY2016FY2025
Shareholders' equity
PLN 872.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 2.21bn | PLN 1.57bn | PLN 1.44bn | PLN 1.08bn | PLN 872.2m | PLN 632.3m | PLN 708.7m | PLN 567.3m | PLN 465.6m | PLN 415.1m |
| Operating income | PLN 316.3m | PLN 279.6m | PLN 281.2m | PLN 239.6m | PLN 242.9m | PLN 137.3m | PLN 149.2m | PLN 123.8m | PLN 78.6m | PLN 80.9m |
| Net income | −PLN 34.1m | PLN 155.9m | PLN 155.8m | PLN 170.5m | PLN 182.7m | PLN 78.5m | PLN 69.0m | PLN 73.9m | PLN 35.3m | PLN 53.8m |
| Diluted earnings per share | -1.15 | 5.26 | 5.28 | 5.78 | 6.20 | 2.72 | 2.38 | 2.55 | 1.23 | 1.90 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 3.90bn | PLN 2.29bn | PLN 2.09bn | PLN 2.01bn | PLN 1.26bn | PLN 1.24bn | PLN 1.15bn | PLN 1.06bn | PLN 893.9m | PLN 852.2m |
| Cash and short-term investments | PLN 416.3m | PLN 269.2m | PLN 252.4m | PLN 192.5m | PLN 135.4m | PLN 188.3m | PLN 73.9m | PLN 66.7m | PLN 46.4m | PLN 45.1m |
| Total liabilities | PLN 2.98bn | PLN 1.28bn | PLN 1.17bn | PLN 1.09bn | PLN 519.6m | PLN 646.1m | PLN 631.9m | PLN 595.7m | PLN 474.0m | PLN 443.5m |
| Debt | PLN 1.88bn | PLN 766.3m | PLN 781.3m | PLN 736.7m | PLN 297.1m | PLN 428.7m | PLN 408.3m | PLN 369.2m | PLN 216.8m | PLN 213.8m |
| Shareholders' equity | PLN 872.3m | PLN 969.2m | PLN 880.7m | PLN 870.0m | PLN 728.7m | PLN 586.7m | PLN 500.9m | PLN 457.1m | PLN 400.4m | PLN 392.3m |
| Shares outstanding | 30m | 30m | 30m | 29m | 29m | 29m | 29m | 29m | 29m | 28m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 292.5m | PLN 377.8m | PLN 384.0m | PLN 265.8m | PLN 244.7m | PLN 211.0m | PLN 189.0m | PLN 155.7m | PLN 113.6m | PLN 113.6m |
| Capital spending | −PLN 26.8m | −PLN 18.3m | −PLN 123.7m | −PLN 97.1m | −PLN 78.0m | −PLN 61.2m | −PLN 58.5m | −PLN 42.7m | −PLN 42.0m | −PLN 37.2m |
| Free cash flow | PLN 265.7m | PLN 359.4m | PLN 260.3m | PLN 168.7m | PLN 166.7m | PLN 149.8m | PLN 130.5m | PLN 113.0m | PLN 71.7m | PLN 76.4m |
| Dividends paid | −PLN 65.5m | −PLN 59.2m | −PLN 73.2m | −PLN 35.1m | −PLN 45.3m | −PLN 45.3m | −PLN 29.0m | −PLN 27.7m | −PLN 31.7m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 579.4m | PLN 555.2m | PLN 578.6m | PLN 722.2m | PLN 540.8m | PLN 372.0m | PLN 400.2m | PLN 437.5m |
| Operating income | PLN 7.3m | PLN 23.3m | PLN 58.4m | PLN 166.1m | PLN 26.1m | PLN 34.7m | PLN 77.6m | PLN 113.5m |
| Net income | PLN 62.6m | −PLN 16.9m | −PLN 130.7m | PLN 97.7m | −PLN 11.1m | PLN 10.0m | PLN 44.9m | PLN 77.4m |
| Diluted earnings per share | 2.18 | -0.59 | -4.39 | 3.28 | -0.37 | 0.34 | 1.52 | 2.61 |
| Cash from operations | PLN 241.0m | PLN 118.0m | PLN 83.0m | −PLN 6.0m | PLN 166.0m | PLN 130.0m | PLN 67.0m | PLN 64.0m |
| Capital spending | −PLN 43.0m | −PLN 8.0m | −PLN 5.0m | −PLN 5.0m | −PLN 41.0m | −PLN 38.0m | −PLN 88.0m | −PLN 37.0m |
| Free cash flow | PLN 198.0m | PLN 110.0m | PLN 78.0m | −PLN 11.0m | PLN 125.0m | PLN 92.0m | −PLN 21.0m | PLN 27.0m |
| Total assets | PLN 4.11bn | PLN 4.17bn | PLN 3.90bn | PLN 4.05bn | PLN 4.49bn | PLN 2.47bn | PLN 2.29bn | PLN 2.20bn |
| Cash and short-term investments | PLN 618.3m | PLN 447.5m | PLN 416.3m | PLN 412.4m | PLN 633.4m | PLN 405.7m | PLN 269.2m | PLN 271.2m |
| Debt | PLN 1.83bn | PLN 1.80bn | PLN 1.85bn | PLN 1.81bn | PLN 1.84bn | PLN 810.3m | PLN 748.4m | PLN 734.3m |
| Shareholders' equity | PLN 690.6m | PLN 872.5m | PLN 872.3m | PLN 1.02bn | PLN 898.7m | PLN 978.3m | PLN 969.2m | PLN 930.1m |
Financial ratios
Data as of 1 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 14.3% | 17.9% | 19.9% | 24.4% | 27.8% | 17.2% |
| Net margin | -1.0% | 10.6% | 10.8% | 15.8% | 20.9% | 12.4% |
| Return on equity | -2.4% | 17.1% | 17.7% | 18.5% | 25.1% | 13.4% |
| Return on assets | -0.6% | 7.2% | 7.5% | 8.5% | 14.5% | 6.3% |
| Free cash flow yield | 25.8% | 23.8% | 30.7% | 21.9% | 19.5% | 16.8% |
| Revenue growth | 41.1% | 9.2% | 33.3% | 23.6% | 38.0% | -10.8% |
| Earnings growth | -113.3% | 6.5% | -8.7% | -6.7% | 132.7% | 13.8% |
| Current ratio | 1.39x | 1.24x | 1.04x | 1.07x | 1.64x | 1.69x |
| Debt to equity | 1.96x | 0.77x | 0.90x | 0.75x | 0.34x | 0.63x |
| Equity ratio | 23.8% | 42.2% | 42.2% | 45.9% | 57.7% | 47.2% |
| Interest coverage | 2.93x | 4.51x | 4.45x | 9.06x | 21.88x | 7.56x |
| Buybacks as a share of market value | -0.5% | -0.3% | -0.1% | -0.1% | -2.1% | 0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 27.1% | 28.5% | 21.1% |
| Operating income | 9.7% | 18.2% | 17.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 15.8% | 17.7% | 19.2% | 19.4% |
| Net margin | 3.2% | 7.1% | 9.1% | 9.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -53.0 | 14.9 | 23.1 | 17.5 | 22.7 | 34.2 | 29.3 | 20.7 | 39.6 | 28.2 |
| Price to sales | 0.8 | 1.5 | 2.5 | 2.8 | 4.8 | 4.2 | 2.9 | 2.7 | 3.0 | 3.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 10 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.30 | 2.20 | 2.00 | 2.50 | 1.20 | 1.55 | 1.00 | 0.96 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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