Reported Earnings • May 20
First quarter 2026 earnings released: EPS: zł69.68 (vs zł18.99 in 1Q 2025) First quarter 2026 results: EPS: zł69.68 (up from zł18.99 in 1Q 2025). Revenue: zł1.38b (up 45% from 1Q 2025). Net income: zł229.6m (up 305% from 1Q 2025). Profit margin: 17% (up from 6.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 18
Benefit Systems S.A., Annual General Meeting, Jun 10, 2026 Benefit Systems S.A., Annual General Meeting, Jun 10, 2026, at 11:00 Central European Standard Time. Annonce • May 14
Benefit Systems S.A. announces Annual dividend, payable on September 25, 2026 Benefit Systems S.A. announced Annual dividend of PLN 100.0000 per share payable on September 25, 2026, ex-date on September 04, 2026 and record date on September 07, 2026. Annonce • Jan 30
Benefit Systems S.A. to Report Fiscal Year 2025 Results on Mar 20, 2026 Benefit Systems S.A. announced that they will report fiscal year 2025 results on Mar 20, 2026 Annonce • May 23
Benefit Systems S.A., Annual General Meeting, Jun 17, 2025 Benefit Systems S.A., Annual General Meeting, Jun 17, 2025. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: zł45.30 (vs zł39.33 in 3Q 2023) Third quarter 2024 results: EPS: zł45.30 (up from zł39.33 in 3Q 2023). Revenue: zł835.9m (up 21% from 3Q 2023). Net income: zł134.0m (up 16% from 3Q 2023). Profit margin: 16% (in line with 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 06
Upcoming dividend of zł135 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 25 November 2024. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.3%). Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: zł36.82 (vs zł44.13 in 2Q 2023) Second quarter 2024 results: EPS: zł36.82 (down from zł44.13 in 2Q 2023). Revenue: zł844.8m (up 21% from 2Q 2023). Net income: zł108.9m (down 16% from 2Q 2023). Profit margin: 13% (down from 19% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €643, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Professional Services industry in Europe. Total returns to shareholders of 319% over the past three years. Annonce • Aug 15
Benefit Systems S.A. (WSE:BFT) agreed to acquire ARTIS Welness Club. Benefit Systems S.A. (WSE:BFT) agreed to acquire ARTIS Welness Club on August 14, 2024. The transaction is subject to approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by acquirer board and approval of offer by target shareholders. Annonce • May 31
Benefit Systems S.A., Annual General Meeting, Jun 28, 2024 Benefit Systems S.A., Annual General Meeting, Jun 28, 2024, at 11:00 Central European Standard Time. Declared Dividend • May 30
Dividend of zł135 announced Shareholders will receive a dividend of zł135. Ex-date: 13th September 2024 Payment date: 25th November 2024 Dividend yield will be 20%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: zł31.20 (vs zł17.85 in 1Q 2023) First quarter 2024 results: EPS: zł31.20 (up from zł17.85 in 1Q 2023). Revenue: zł801.1m (up 28% from 1Q 2023). Net income: zł92.1m (up 76% from 1Q 2023). Profit margin: 12% (up from 8.4% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Annonce • May 01
Benefit Systems S.A. to Report First Half, 2024 Results on Aug 21, 2024 Benefit Systems S.A. announced that they will report first half, 2024 results on Aug 21, 2024 Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: zł149 (vs zł47.08 in FY 2022) Full year 2023 results: EPS: zł149 (up from zł47.08 in FY 2022). Revenue: zł2.77b (up 45% from FY 2022). Net income: zł439.6m (up 218% from FY 2022). Profit margin: 16% (up from 7.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Professional Services industry in Europe. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €522, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Professional Services industry in Europe. Total returns to shareholders of 225% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €946 per share. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €455, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Professional Services industry in Europe. Total returns to shareholders of 234% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €833 per share. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: zł39.32 (vs zł11.73 in 3Q 2022) Third quarter 2023 results: EPS: zł39.32 (up from zł11.73 in 3Q 2022). Revenue: zł693.9m (up 43% from 3Q 2022). Net income: zł115.4m (up 235% from 3Q 2022). Profit margin: 17% (up from 7.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Annonce • Oct 20
Benefit Systems Intends to Merge with Focusly Acting on the basis of Art. 504 §1 of the Polish Commercial Companies Code (hereinafter, the "CCC") in conjunction with Article 402 §2 of the CCC and Article 402 §1 of the CCC, the Management Board of Benefit Systems S.A. (WSE:BFT) with its registered seat in Warsaw (the "Issuer" or the "Company"), hereby for the first time announced the intention to merge the Issuer (as the acquiring company) with Focusly sp. z o.o. with its registered seat in Warsaw (the "Target Company"). The merger plan, agreed upon by the merging companies on 13 October 2023. In the coming weeks, the Company will convene an Extraordinary General Meeting of the Company, during which a resolution on the merger of the Issuer and the Target Company will be adopted. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €407, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Professional Services industry in Europe. Total returns to shareholders of 247% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €803 per share. Annonce • Aug 24
Benefit Systems S.A. Appoints Marcin Fojudzki as Member of the Management Board, Effective from September 6, 2023 The supervisory board of Benefit Systems passed a resolution to appoint Marcin Fojudzki as the new member of the management board of the company, effective from September 6. His experience includes senior positions related to finance at Eurocash Group, among others. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: zł44.14 (vs zł10.77 in 2Q 2022) Second quarter 2023 results: EPS: zł44.14 (up from zł10.77 in 2Q 2022). Revenue: zł697.5m (up 52% from 2Q 2022). Net income: zł129.5m (up 310% from 2Q 2022). Profit margin: 19% (up from 6.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Professional Services industry in Europe. New Risk • Jul 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Buying Opportunity • Jun 29
Now 21% undervalued Over the last 90 days, the stock is up 37%. The fair value is estimated to be €411, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 62%. Revenue is forecast to grow by 55% in 2 years. Earnings is forecast to grow by 74% in the next 2 years. Buying Opportunity • Jun 12
Now 21% undervalued Over the last 90 days, the stock is up 45%. The fair value is estimated to be €403, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 62%. Revenue is forecast to grow by 52% in 2 years. Earnings is forecast to grow by 67% in the next 2 years. New Risk • Jun 12
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Annonce • Jun 04
Benefit Systems S.A., Annual General Meeting, Jun 29, 2023 Benefit Systems S.A., Annual General Meeting, Jun 29, 2023, at 11:00 Central European Standard Time. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €311, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Professional Services industry in Europe. Total returns to shareholders of 164% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €424 per share. Reported Earnings • Mar 25
Full year 2022 earnings released: EPS: zł47.08 (vs zł8.86 loss in FY 2021) Full year 2022 results: EPS: zł47.08 (up from zł8.86 loss in FY 2021). Revenue: zł1.91b (up 100% from FY 2021). Net income: zł138.1m (up zł163.3m from FY 2021). Profit margin: 7.2% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Professional Services industry in Europe. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €202, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Professional Services industry in Europe. Total returns to shareholders of 97% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €145 per share. Annonce • Dec 16
Benefit Systems S.A. Recommends New Dividend Policy Benefit Systems aims to recommend a dividend payout of at least 60% of its consolidated net profit each year, new dividend policy for the period 2023-2025. The previous policy for 2020-2023 assumed at least 50% consolidated net profit earmarked for a dividend payout. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: zł11.72 (vs zł3.55 loss in 3Q 2021) Third quarter 2022 results: EPS: zł11.72 (up from zł3.55 loss in 3Q 2021). Revenue: zł485.4m (up 63% from 3Q 2021). Net income: zł34.4m (up zł44.4m from 3Q 2021). Profit margin: 7.1% (up from net loss in 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Europe. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 16% share price gain to €142, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 9.4% over the past year. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: zł10.78 (vs zł3.70 in 2Q 2021) Second quarter 2022 results: EPS: zł10.78 (up from zł3.70 in 2Q 2021). Revenue: zł459.6m (up 155% from 2Q 2021). Net income: zł31.6m (up 208% from 2Q 2021). Profit margin: 6.9% (up from 5.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 21%, compared to a 8.2% growth forecast for the Professional Services industry in Germany. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improved over the past week After last week's 18% share price gain to €116, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 32% over the past year. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 17% share price gain to €113, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 41% over the past year. Annonce • Jul 01
Benefit Systems Plans to Merge with Benefit IP SP. Z O.O. and Benefit IP Spólka Z Ograniczona Benefit Systems S.A. (WSE:BFT) plans to merge with Benefit IP SP. Z O.O. and Benefit IP Spólka Z Ograniczona odpowiedzialnoscia SP.K. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €109, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 45% over the past year. Annonce • Jun 07
Benefit Systems S.A., Annual General Meeting, Jun 29, 2022 Benefit Systems S.A., Annual General Meeting, Jun 29, 2022, at 11:00 Central European Standard Time. Reported Earnings • May 28
First quarter 2022 earnings released: EPS: zł2.76 (vs zł17.62 loss in 1Q 2021) First quarter 2022 results: EPS: zł2.76 (up from zł17.62 loss in 1Q 2021). Revenue: zł401.8m (up 308% from 1Q 2021). Net income: zł8.10m (up zł57.0m from 1Q 2021). Profit margin: 2.0% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 35%, compared to a 9.8% growth forecast for the industry in Germany. Reported Earnings • Apr 20
Full year 2021 earnings released: zł8.86 loss per share (vs zł36.43 loss in FY 2020) Full year 2021 results: zł8.86 loss per share (up from zł36.43 loss in FY 2020). Revenue: zł954.9m (down 7.6% from FY 2020). Net loss: zł25.1m (loss narrowed 75% from FY 2020). Over the next year, revenue is forecast to grow 92%, compared to a 9.6% growth forecast for the industry in Germany. Reported Earnings • Nov 11
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: zł297.3m (down 5.2% from 3Q 2020). Net loss: zł9.97m (down 155% from profit in 3Q 2020). Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS zł3.70 (vs zł14.89 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł180.6m (up 12% from 2Q 2020). Net income: zł10.3m (up zł51.1m from 2Q 2020). Profit margin: 5.7% (up from net loss in 2Q 2020). Reported Earnings • May 30
First quarter 2021 earnings released: zł17.62 loss per share (vs zł0.73 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: zł98.5m (down 75% from 1Q 2020). Net loss: zł48.9m (down zł51.0m from profit in 1Q 2020). Recent Insider Transactions • May 01
Chairman of Supervisory Board recently sold €2.2m worth of stock On the 28th of April, James Van Bergh sold around 13k shares on-market at roughly €178 per share. This was the largest sale by an insider in the last 3 months. This was James' only on-market trade for the last 12 months.