Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to zł1.65, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 15x in the Software industry in Poland. Total loss to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to zł2.40, the stock trades at a trailing P/E ratio of 61.9x. Average trailing P/E is 20x in the Software industry in Poland. Total loss to shareholders of 58% over the past three years. New Risk • Apr 06
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 7.1% 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 Earnings have declined by 11% per year over the past 5 years. Market cap is less than US$10m (zł29.5m market cap, or US$7.94m). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (1.7% net profit margin). Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł1.79, the stock trades at a trailing P/E ratio of 46.1x. Average trailing P/E is 20x in the Software industry in Poland. Total loss to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł1.61, the stock trades at a trailing P/E ratio of 41.5x. Average trailing P/E is 24x in the Software industry in Poland. Total loss to shareholders of 75% over the past three years. Reported Earnings • Feb 20
Full year 2025 earnings released Full year 2025 results: Revenue: zł36.3m (down 19% from FY 2024). Net income: zł617.7k (down 80% from FY 2024). Profit margin: 1.7% (down from 6.9% in FY 2024). The decrease in margin was driven by lower revenue. Reported Earnings • Nov 18
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł7.99m (down 28% from 3Q 2024). Net income: zł73.1k (down 83% from 3Q 2024). Profit margin: 0.9% (down from 3.9% in 3Q 2024). The decrease in margin was driven by lower revenue. New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings have declined by 4.0% 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 Earnings have declined by 4.0% per year over the past 5 years. Market cap is less than US$10m (zł22.3m market cap, or US$6.09m). Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Annonce • Nov 11
Suntech S.A. to Report Q3, 2025 Results on Nov 14, 2025 Suntech S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Reported Earnings • Aug 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł8.51m (down 29% from 2Q 2024). Net loss: zł73.6k (down 106% from profit in 2Q 2024). New Risk • Aug 18
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 7.8% 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 High level of non-cash earnings (25% accrual ratio). Market cap is less than US$10m (zł24.1m market cap, or US$6.63m). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (2.7% net profit margin). Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to zł1.52, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 22x in the Software industry in Poland. Total loss to shareholders of 47% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to zł1.91, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 22x in the Software industry in Poland. Total loss to shareholders of 33% over the past three years. Reported Earnings • May 18
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł10.3m (up 5.0% from 1Q 2024). Net loss: zł556.9k (down 146% from profit in 1Q 2024). New Risk • Feb 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł39.5m (US$9.90m) This is considered a major risk. Companies with a small market capitalization 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (zł39.5m market cap, or US$9.90m). Minor Risk Profit margins are more than 30% lower than last year (6.8% net profit margin). New Risk • Feb 14
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 8.4% 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 Share price has been highly volatile over the past 3 months (8.4% average weekly change). High level of non-cash earnings (44% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (10% net profit margin). Market cap is less than US$100m (zł65.4m market cap, or US$16.4m). Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to zł2.80, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 17x in the Software industry in Poland. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł3.85, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 16x in the Software industry in Poland. Total returns to shareholders of 130% over the past three years. New Risk • Nov 18
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 7.0% 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 Risk High level of non-cash earnings (43% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (13% net profit margin). Market cap is less than US$100m (zł61.8m market cap, or US$15.1m). Upcoming Dividend • Jul 25
Upcoming dividend of zł0.04 per share Eligible shareholders must have bought the stock before 01 August 2024. Payment date: 20 August 2024. Trailing yield: 0.6%. Lower than top quartile of Polish dividend payers (7.8%). Lower than average of industry peers (3.3%). New Risk • Jul 23
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 6.5% 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 Risk High level of non-cash earnings (76% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Profit margins are more than 30% lower than last year (15% net profit margin). Market cap is less than US$100m (zł79.7m market cap, or US$20.2m). Annonce • Jun 05
Suntech S.A., Annual General Meeting, Jun 26, 2024 Suntech S.A., Annual General Meeting, Jun 26, 2024. Reported Earnings • May 19
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł9.84m (up 26% from 1Q 2023). Net income: zł1.22m (up 4.4% from 1Q 2023). Profit margin: 12% (down from 15% in 1Q 2023). The decrease in margin was driven by higher expenses. New Risk • Feb 18
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 15% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (62% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (15% net profit margin). Market cap is less than US$100m (zł98.8m market cap, or US$24.5m). Reported Earnings • Feb 16
Full year 2023 earnings released Full year 2023 results: Revenue: zł12.9m (down 59% from FY 2022). Net income: zł3.93m (down 52% from FY 2022). Profit margin: 31% (up from 26% in FY 2022). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł7.16, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 22x in the Software industry in Poland. Total returns to shareholders of 511% over the past three years. Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł8.84m (up 36% from 3Q 2022). Net income: zł1.35m (down 26% from 3Q 2022). Profit margin: 15% (down from 28% in 3Q 2022). The decrease in margin was driven by higher expenses. New Risk • Nov 18
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 7.1% 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 Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (zł119.2m market cap, or US$29.5m). New Risk • Aug 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 56% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (56% accrual ratio). Minor Risk Market cap is less than US$100m (zł119.6m market cap, or US$29.2m). Reported Earnings • Aug 16
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł10.7m (up 79% from 2Q 2022). Net income: zł1.84m (up 50% from 2Q 2022). Profit margin: 17% (down from 21% in 2Q 2022). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jun 30
Upcoming dividend of zł0.03 per share at 0.3% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 20 July 2023. Payout ratio is a comfortable 3.9% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Polish dividend payers (7.2%). Lower than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł7.80, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 20x in the Software industry in Poland. Total returns to shareholders of 1,204% over the past three years. Annonce • Jun 02
Suntech S.A., Annual General Meeting, Jun 27, 2023 Suntech S.A., Annual General Meeting, Jun 27, 2023, at 13:00 Central European Standard Time. Reported Earnings • Feb 16
Full year 2022 earnings released Full year 2022 results: Revenue: zł31.5m (up 23% from FY 2021). Net income: zł8.16m (up 34% from FY 2021). Profit margin: 26% (up from 24% in FY 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł5.34, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 15x in the Software industry in Poland. Total returns to shareholders of 1,206% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 26% share price gain to zł3.74, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 17x in the Software industry in Poland. Total returns to shareholders of 948% over the past three years. Reported Earnings • Nov 20
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł6.51m (up 34% from 3Q 2021). Net income: zł1.82m (up zł1.56m from 3Q 2021). Profit margin: 28% (up from 5.3% in 3Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improved over the past week After last week's 17% share price gain to zł2.80, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 16x in the Software industry in Poland. Total returns to shareholders of 775% over the past three years. Annonce • Jun 01
Suntech S.A., Annual General Meeting, Jun 29, 2022 Suntech S.A., Annual General Meeting, Jun 29, 2022, at 12:00 Central European Standard Time. Reported Earnings • May 20
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł6.15m (up 52% from 1Q 2021). Net income: zł1.18m (up 198% from 1Q 2021). Profit margin: 19% (up from 9.8% in 1Q 2021). The increase in margin was driven by higher revenue. Annonce • May 19
Suntech S.A. to Report Fiscal Year 2021 Results on May 27, 2022 Suntech S.A. announced that they will report fiscal year 2021 results on May 27, 2022 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 18% share price gain to zł2.96, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 20x in the Software industry in Poland. Total returns to shareholders of 2,177% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł2.23, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 19x in the Software industry in Poland. Total returns to shareholders of 1,139% over the past three years. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: zł25.6m (up 33% from FY 2020). Net income: zł6.10m (up 163% from FY 2020). Profit margin: 24% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 17% share price gain to zł2.29, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 28x in the Software industry in Poland. Total returns to shareholders of 718% over the past three years. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 20% share price gain to zł1.87, the stock is trading at a trailing P/E ratio of 15.7x, up from the previous P/E ratio of 13.1x. This compares to an average P/E of 26x in the Software industry in Poland. Total returns to shareholders over the past three years are 648%. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improved over the past week After last week's 30% share price gain to zł1.78, the stock is trading at a trailing P/E ratio of 14.9x, up from the previous P/E ratio of 11.5x. This compares to an average P/E of 30x in the Software industry in Poland. Total returns to shareholders over the past three years are 709%. Is New 90 Day High Low • Feb 11
New 90-day high: zł1.53 The company is up 42% from its price of zł1.08 on 13 November 2020. The Polish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 11% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: zł1.49 The company is up 35% from its price of zł1.10 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Dec 08
Market bids up stock over the past week After last week's 18% share price gain to zł1.40, the stock is trading at a trailing P/E ratio of 11.7x, up from the previous P/E ratio of 10x. This compares to an average P/E of 17x in the Software industry in Poland. Total returns to shareholders over the past three years are 509%. Is New 90 Day High Low • Dec 02
New 90-day high: zł1.26 The company is up 52% from its price of zł0.83 on 03 September 2020. The Polish market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 5.0% over the same period. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 20% share price gain to zł1.20, the stock is trading at a trailing P/E ratio of 10.1x, up from the previous P/E ratio of 8.4x. This compares to an average P/E of 15x in the Software industry in Poland. Total returns to shareholders over the past three years are 400%.