Reported Earnings • Feb 20
Full year 2025 earnings released: zł0.034 loss per share (vs zł0.006 profit in FY 2024) Full year 2025 results: zł0.034 loss per share (down from zł0.006 profit in FY 2024). Revenue: zł13.2m (down 26% from FY 2024). Net loss: zł51.8k (down zł60.6k from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. New Risk • Jan 09
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 Polish 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: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 49% per year over the past 5 years. Market cap is less than US$10m (zł21.7m market cap, or US$6.01m). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Revenue is less than US$5m (zł14m revenue, or US$3.9m). Reported Earnings • Nov 19
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł3.18m (down 11% from 3Q 2024). Net loss: zł780.7k (loss widened 155% from 3Q 2024). Annonce • Nov 12
Standrew S.A. to Report Q3, 2025 Results on Nov 14, 2025 Standrew S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Reported Earnings • Aug 11
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł3.06m (down 32% from 2Q 2024). Net loss: zł698.6k (loss widened 73% from 2Q 2024). Buy Or Sell Opportunity • Mar 21
Now 28% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.9% to zł7.70. The fair value is estimated to be zł10.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 101%. Reported Earnings • Feb 20
Full year 2024 earnings released: EPS: zł0.004 (vs zł0.10 in FY 2023) Full year 2024 results: EPS: zł0.004 (down from zł0.10 in FY 2023). Revenue: zł17.7m (down 24% from FY 2023). Net income: zł6.8k (down 96% from FY 2023). Profit margin: 0% (down from 0.7% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance. New Risk • Nov 23
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: zł21m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 6.2% per year over the past 5 years. Market cap is less than US$10m (zł12.2m market cap, or US$2.92m). Minor Risk Revenue is less than US$5m (zł21m revenue, or US$5.0m). New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings have declined by 6.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 6.2% per year over the past 5 years. Market cap is less than US$10m (zł22.8m market cap, or US$5.81m). Reported Earnings • Aug 13
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł4.49m (down 23% from 2Q 2023). Net loss: zł403.3k (down zł425.0k from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Annonce • Jun 05
Standrew S.A., Annual General Meeting, Jun 26, 2024 Standrew S.A., Annual General Meeting, Jun 26, 2024. Annonce • May 23
Standrew S.A. to Report Fiscal Year 2023 Results on May 31, 2024 Standrew S.A. announced that they will report fiscal year 2023 results on May 31, 2024 Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: zł0.051 (vs zł0.46 in FY 2022) Full year 2023 results: EPS: zł0.051 (down from zł0.46 in FY 2022). Revenue: zł23.3m (up 11% from FY 2022). Net income: zł77.0k (down 89% from FY 2022). Profit margin: 0.3% (down from 3.3% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. New Risk • Dec 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (zł21.2m market cap, or US$5.28m). Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł5.39m (flat on 3Q 2022). Net income: zł37.7k (down 93% from 3Q 2022). Profit margin: 0.7% (down from 10% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Aug 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 607% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Shares are highly illiquid. Market cap is less than US$10m (zł20.9m market cap, or US$5.10m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł5.86m (up 4.7% from 2Q 2022). Net income: zł21.7k (down 91% from 2Q 2022). Profit margin: 0.4% (down from 4.1% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Annonce • May 27
Standrew S.A., Annual General Meeting, Jun 22, 2023 Standrew S.A., Annual General Meeting, Jun 22, 2023, at 11:00 Central European Standard Time. Reported Earnings • May 20
First quarter 2023 earnings released First quarter 2023 results: Revenue: zł6.52m (up 17% from 1Q 2022). Net income: zł125.0k (down 68% from 1Q 2022). Profit margin: 1.9% (down from 6.9% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to zł15.60, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 9x in the Forestry industry in Poland. Total returns to shareholders of 70% over the past three years. Reported Earnings • Feb 19
Full year 2022 earnings released: EPS: zł0.51 (vs zł0.57 in FY 2021) Full year 2022 results: EPS: zł0.51 (down from zł0.57 in FY 2021). Revenue: zł21.1m (up 13% from FY 2021). Net income: zł767.4k (down 11% from FY 2021). Profit margin: 3.6% (down from 4.7% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to zł23.60, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 10x in the Forestry industry in Poland. Total returns to shareholders of 157% over the past three years. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to zł29.00, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 11x in the Forestry industry in Poland. Total returns to shareholders of 193% over the past three years. Buying Opportunity • Jan 17
Now 24% undervalued Over the last 90 days, the stock is up 67%. The fair value is estimated to be zł26.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.5% over the last 3 years. Earnings per share has grown by 64%. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 27% share price gain to zł23.40, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 10x in the Forestry industry in Poland. Total returns to shareholders of 136% over the past three years. Buying Opportunity • Dec 16
Now 29% undervalued Over the last 90 days, the stock is up 63%. The fair value is estimated to be zł28.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.5% over the last 3 years. Earnings per share has grown by 64%. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 16% share price gain to zł26.80, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 9x in the Forestry industry in Poland. Total returns to shareholders of 141% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 33% share price gain to zł24.00, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 9x in the Forestry industry in Poland. Total returns to shareholders of 109% over the past three years. Buying Opportunity • Nov 28
Now 27% undervalued Over the last 90 days, the stock is up 90%. The fair value is estimated to be zł32.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.5% over the last 3 years. Earnings per share has grown by 64%. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 37% share price gain to zł17.20, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 10x in the Forestry industry in Poland. Total returns to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 17% share price gain to zł14.90, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 13x in the Forestry industry in Poland. Total returns to shareholders of 62% over the past three years. Reported Earnings • Aug 02
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł5.60m (up 27% from 2Q 2021). Net income: zł231.8k (down 57% from 2Q 2021). Profit margin: 4.1% (down from 12% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 24% share price gain to zł8.70, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 11x in the Forestry industry in Poland. Total returns to shareholders of 8.8% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorated over the past week After last week's 20% share price decline to zł4.26, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 8x in the Forestry industry in Poland. Total loss to shareholders of 43% over the past three years. Annonce • Jun 02
Standrew S.A., Annual General Meeting, Jun 27, 2022 Standrew S.A., Annual General Meeting, Jun 27, 2022, at 11:00 Central European Standard Time. Valuation Update With 7 Day Price Move • May 24
Investor sentiment deteriorated over the past week After last week's 18% share price decline to zł5.55, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 9x in the Forestry industry in Poland. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 18% share price gain to zł7.75, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 15x in the Forestry industry in Poland. Total loss to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improved over the past week After last week's 24% share price gain to zł7.05, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 14x in the Forestry industry in Poland. Total loss to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł5.50, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 14x in the Forestry industry in Poland. Total loss to shareholders of 42% over the past three years. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: zł0.52 (up from zł0.22 in FY 2020). Revenue: zł18.6m (up 21% from FY 2020). Net income: zł785.6k (up 135% from FY 2020). Profit margin: 4.2% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 16% share price gain to zł7.15, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 13x in the Forestry industry in Poland. Total loss to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł4.32, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 12x in the Forestry industry in Poland. Total loss to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improved over the past week After last week's 17% share price gain to zł7.95, the stock trades at a trailing P/E ratio of 29.9x. Average trailing P/E is 21x in the Forestry industry in Poland. Total returns to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improved over the past week After last week's 27% share price gain to zł8.20, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 23x in the Forestry industry in Poland. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 15% share price gain to zł8.30, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 21x in the Forestry industry in Poland. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorated over the past week After last week's 24% share price decline to zł8.40, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 22x in the Forestry industry in Poland. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improved over the past week After last week's 38% share price gain to zł9.90, the stock trades at a trailing P/E ratio of 36.3x. Average trailing P/E is 20x in the Forestry industry in Poland. Total returns to shareholders of 98% over the past three years. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS zł0.27 (vs zł0.24 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: zł15.4m (down 24% from FY 2019). Net income: zł412.7k (up 15% from FY 2019). Profit margin: 2.7% (up from 1.8% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.