Z 
11.70
-1.27%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 945.9m
FY2016FY2025
Net income
PLN 11.2m
FY2016FY2025
Free cash flow
PLN 4.7m
FY2016FY2025
Shareholders' equity
PLN 215.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 945.9m | PLN 1.22bn | PLN 1.48bn | PLN 921.4m | PLN 851.5m | PLN 901.4m | PLN 996.2m | PLN 832.7m | PLN 465.3m | PLN 343.0m |
| Gross profit | PLN 60.9m | PLN 50.5m | PLN 55.9m | PLN 42.8m | PLN 35.0m | PLN 31.3m | PLN 27.9m | −PLN 56.0m | PLN 19.1m | PLN 16.7m |
| Operating income | PLN 21.1m | PLN 19.1m | PLN 30.4m | PLN 18.1m | PLN 14.2m | PLN 10.6m | PLN 7.9m | −PLN 77.9m | PLN 1.6m | PLN 154,000 |
| Net income | PLN 11.2m | PLN 10.7m | PLN 21.0m | PLN 16.4m | PLN 11.8m | PLN 4.3m | PLN 3.8m | −PLN 62.8m | PLN 310,000 | PLN 809,000 |
| Diluted earnings per share | 0.49 | 0.47 | 0.92 | 0.72 | 0.51 | 0.18 | 0.16 | -2.73 | 0.01 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 623.5m | PLN 731.7m | PLN 935.4m | PLN 674.7m | PLN 577.5m | PLN 525.0m | PLN 554.6m | PLN 629.6m | PLN 502.3m | PLN 363.4m |
| Cash and short-term investments | PLN 27.8m | PLN 52.7m | PLN 223.6m | PLN 63.3m | PLN 108.8m | PLN 23.5m | PLN 30.4m | PLN 81.7m | PLN 117.7m | PLN 117.7m |
| Total liabilities | PLN 405.9m | PLN 525.3m | PLN 735.3m | PLN 493.9m | PLN 411.1m | PLN 370.3m | PLN 404.2m | PLN 482.8m | PLN 292.7m | PLN 154.1m |
| Debt | PLN 54.5m | PLN 78.9m | PLN 89.3m | PLN 48.6m | PLN 28.5m | PLN 39.1m | PLN 51.8m | PLN 35.7m | PLN 11.5m | PLN 9.1m |
| Shareholders' equity | PLN 215.9m | PLN 204.9m | PLN 198.7m | PLN 179.4m | PLN 166.2m | PLN 154.5m | PLN 150.3m | PLN 146.6m | PLN 209.5m | PLN 209.3m |
| Shares outstanding | 23m | 23m | 23m | 23m | 23m | 23m | 23m | 23m | 23m | 23m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 6.8m | −PLN 115.6m | PLN 137.5m | PLN 22.1m | PLN 109.8m | PLN 16.3m | −PLN 53.5m | −PLN 22.2m | PLN 18.9m | −PLN 38.0m |
| Capital spending | −PLN 2.1m | −PLN 5.5m | −PLN 8.2m | −PLN 4.7m | −PLN 6.0m | −PLN 7.4m | −PLN 5.4m | −PLN 15.8m | −PLN 21.7m | −PLN 10.2m |
| Free cash flow | PLN 4.7m | −PLN 121.2m | PLN 129.2m | PLN 17.4m | PLN 103.8m | PLN 8.9m | −PLN 58.9m | −PLN 38.0m | −PLN 2.9m | −PLN 48.2m |
| Dividends paid | — | −PLN 4.8m | — | −PLN 3.4m | — | — | −PLN 468,000 | — | −PLN 1,000 | −PLN 7.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 248.6m | PLN 148.1m | PLN 255.0m | PLN 288.1m | PLN 222.6m | PLN 180.1m | PLN 297.9m | PLN 304.3m |
| Gross profit | PLN 20.2m | PLN 4.5m | PLN 23.5m | PLN 10.4m | PLN 21.6m | PLN 5.4m | PLN 16.0m | PLN 7.0m |
| Operating income | PLN 9.4m | −PLN 4.0m | PLN 14.8m | PLN 341,000 | PLN 14.4m | −PLN 5.2m | PLN 7.5m | PLN 1.2m |
| Net income | PLN 6.5m | −PLN 4.2m | PLN 6.0m | −PLN 439,000 | PLN 10.4m | −PLN 4.8m | PLN 3.8m | −PLN 227,000 |
| Diluted earnings per share | 0.27 | -0.18 | 0.26 | -0.02 | 0.45 | -0.21 | 0.17 | -0.01 |
| Cash from operations | PLN 24.0m | PLN 8.0m | PLN 11.0m | PLN 28.0m | −PLN 23.0m | −PLN 10.0m | PLN 49.0m | PLN 6.0m |
| Capital spending | −PLN 2.0m | −PLN 1.0m | −PLN 1.0m | — | — | — | −PLN 1.0m | −PLN 2.0m |
| Free cash flow | PLN 22.0m | PLN 7.0m | PLN 10.0m | — | — | — | PLN 48.0m | PLN 4.0m |
| Total assets | PLN 712.2m | PLN 606.8m | PLN 623.5m | PLN 709.1m | PLN 682.4m | PLN 678.2m | PLN 731.7m | PLN 780.5m |
| Cash and short-term investments | PLN 49.9m | PLN 29.2m | PLN 27.8m | PLN 23.3m | PLN 10.8m | PLN 30.5m | PLN 52.7m | PLN 28.2m |
| Debt | PLN 15.8m | PLN 14.7m | PLN 15.9m | PLN 21.2m | PLN 32.2m | PLN 28.3m | PLN 43.4m | PLN 55.9m |
| Shareholders' equity | PLN 218.3m | PLN 211.8m | PLN 215.9m | PLN 210.0m | PLN 210.5m | PLN 200.1m | PLN 204.9m | PLN 200.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.9% | 1.0% | 5.7% |
| Operating income | 5.2% | 14.7% | -0.7% |
| Net income | -11.9% | 21.3% | -4.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 5.1% | 4.6% | 4.4% | 3.5% |
| Operating margin | 1.9% | 1.9% | 1.8% | 0.7% |
| Net margin | 1.0% | 1.3% | 1.2% | 0.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 25.6 | 17.4 | 8.9 | 6.8 | 6.6 | 20.4 | 25.8 | -1.6 | 453.2 | 253.4 |
| Price to sales | 0.3 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.3 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Sept 2024.
| FY2024 | FY2023 | FY2022 | FY2016 | |
|---|---|---|---|---|
| Paid in the year | 0.21 | 0.07 | 0.15 | 0.33 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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