New Risk • May 21
New major risk - Revenue and earnings growth Earnings have declined by 2.4% 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 Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risk Market cap is less than US$100m (zł174.2m market cap, or US$47.7m). Annonce • May 02
OT Logistics S.A., Annual General Meeting, May 26, 2026 OT Logistics S.A., Annual General Meeting, May 26, 2026, at 11:00 Central European Standard Time. New Risk • Apr 30
New major risk - Revenue and earnings growth Earnings have declined by 2.4% 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 Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risk Market cap is less than US$100m (zł170.8m market cap, or US$46.8m). Buy Or Sell Opportunity • Apr 10
Now 22% undervalued Over the last 90 days, the stock has risen 18% to zł13.50. The fair value is estimated to be zł17.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 02
Now 22% undervalued Over the last 90 days, the stock has risen 4.4% to zł13.26. The fair value is estimated to be zł16.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 04
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.3% to zł13.20. The fair value is estimated to be zł17.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jan 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 7.9% 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 (7.9% average weekly change). Market cap is less than US$100m (zł177.6m market cap, or US$49.7m). Reported Earnings • Nov 20
Third quarter 2025 earnings released: zł0.48 loss per share (vs zł0.64 loss in 3Q 2024) Third quarter 2025 results: zł0.48 loss per share (improved from zł0.64 loss in 3Q 2024). Revenue: zł62.8m (down 14% from 3Q 2024). Net loss: zł6.34m (loss narrowed 25% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Annonce • Nov 15
OT Logistics S.A. to Report Q3, 2025 Results on Nov 18, 2025 OT Logistics S.A. announced that they will report Q3, 2025 results on Nov 18, 2025 Reported Earnings • Sep 22
Second quarter 2025 earnings released: zł0.76 loss per share (vs zł0.15 profit in 2Q 2024) Second quarter 2025 results: zł0.76 loss per share (down from zł0.15 profit in 2Q 2024). Revenue: zł63.2m (down 23% from 2Q 2024). Net loss: zł9.98m (down zł12.0m from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Annonce • Aug 21
OT Logistics S.A. to Report First Half, 2025 Results on Sep 16, 2025 OT Logistics S.A. announced that they will report first half, 2025 results on Sep 16, 2025 Reported Earnings • May 29
First quarter 2025 earnings released: zł0.83 loss per share (vs zł0.13 loss in 1Q 2024) First quarter 2025 results: zł0.83 loss per share (further deteriorated from zł0.13 loss in 1Q 2024). Revenue: zł72.0m (down 9.3% from 1Q 2024). Net loss: zł10.9m (loss widened zł9.11m from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Annonce • May 29
OT Logistics S.A., Annual General Meeting, Jun 24, 2025 OT Logistics S.A., Annual General Meeting, Jun 24, 2025. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł18.10, the stock trades at a trailing P/E ratio of 51.4x. Average trailing P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 131% over the past three years. Buy Or Sell Opportunity • Mar 04
Now 23% undervalued Over the last 90 days, the stock has risen 28% to zł18.00. The fair value is estimated to be zł23.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 4.0%. Buy Or Sell Opportunity • Feb 11
Now 21% undervalued Over the last 90 days, the stock has risen 10% to zł19.50. The fair value is estimated to be zł24.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 4.0%. Buy Or Sell Opportunity • Jan 23
Now 21% undervalued Over the last 90 days, the stock has risen 4.4% to zł19.52. The fair value is estimated to be zł24.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 4.0%. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł20.80, the stock trades at a trailing P/E ratio of 59.1x. Average trailing P/E is 8x in the Shipping industry in Europe. Total returns to shareholders of 214% over the past three years. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to zł15.82, the stock trades at a trailing P/E ratio of 44.9x. Average trailing P/E is 8x in the Shipping industry in Europe. Total returns to shareholders of 131% over the past three years. Reported Earnings • Nov 21
Third quarter 2024 earnings released: zł0.64 loss per share (vs zł1.53 profit in 3Q 2023) Third quarter 2024 results: zł0.64 loss per share (down from zł1.53 profit in 3Q 2023). Revenue: zł73.3m (down 47% from 3Q 2023). Net loss: zł8.41m (down 142% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to zł16.98. The fair value is estimated to be zł21.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has grown by 24%. New Risk • Sep 19
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 122% Dividend yield: 28% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 122% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.2% net profit margin). Market cap is less than US$100m (zł264.6m market cap, or US$69.3m). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to zł19.50, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 143% over the past three years. Reported Earnings • May 30
First quarter 2024 earnings released: zł0.13 loss per share (vs zł6.83 profit in 1Q 2023) First quarter 2024 results: zł0.13 loss per share (down from zł6.83 profit in 1Q 2023). Revenue: zł79.4m (down 59% from 1Q 2023). Net loss: zł1.75m (down 102% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 3.0% After last week's 3.0% share price decline to zł35.35, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 371% over the past three years. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to zł41.00, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 590% over the past three years. Annonce • Apr 21
OT Logistics S.A., Annual General Meeting, May 15, 2024 OT Logistics S.A., Annual General Meeting, May 15, 2024, at 11:00 Central European Standard Time. Annonce • Apr 17
OT Logistics S.A. Recommends Dividend for the Year 2023 OT Logistics announced it is recommending to the general meeting to pay PLN 74.9 million (EUR 17.3 million) from the net profit for 2023 for a dividend, which amounts to PLN 5.72 (EUR 1.32) per share, including the amount of PLN 37.5 million (EUR 8.9 million) that has already been paid to shareholders as an advance dividend. In 2023, the company paid a dividend of PLN 6.4 (EUR 1.48) per share. Annonce • Feb 02
OT Logistics Provides Earnings Guidance for 2023 OT Logistics provided earnings guidance for 2023. For the period, the company estimates that it had around PLN 160 million (EUR 37 mln) net profit and around PLN 592 million (EUR 136.7 mln) in revenue. Reported Earnings • Nov 23
Third quarter 2023 earnings released: EPS: zł1.53 (vs zł4.49 in 3Q 2022) Third quarter 2023 results: EPS: zł1.53 (down from zł4.49 in 3Q 2022). Revenue: zł137.1m (up 7.7% from 3Q 2022). Net income: zł20.0m (down 66% from 3Q 2022). Profit margin: 15% (down from 46% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has increased by 120% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 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 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 (91% accrual ratio). 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 (7.0% average weekly change). Buying Opportunity • Nov 23
Now 21% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be zł55.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł51.80, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 5x in the Shipping industry in Europe. Total returns to shareholders of 1,284% over the past three years. Buying Opportunity • Oct 26
Now 20% undervalued Over the last 90 days, the stock is up 1.4%. The fair value is estimated to be zł56.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Sep 27
Now 22% undervalued Over the last 90 days, the stock is up 2.2%. The fair value is estimated to be zł54.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Sep 20
Second quarter 2023 earnings released: EPS: zł2.67 (vs zł2.11 in 2Q 2022) Second quarter 2023 results: EPS: zł2.67 (up from zł2.11 in 2Q 2022). Revenue: zł156.5m (up 99% from 2Q 2022). Net income: zł35.0m (up 26% from 2Q 2022). Profit margin: 22% (down from 35% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 106% per year, which means it is significantly lagging earnings growth. New Risk • Jun 17
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: 15% 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (116% accrual ratio). 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 (8.8% average weekly change). Upcoming Dividend • Jun 09
Upcoming dividend of zł6.40 per share Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 21 June 2023. The company last paid an ordinary dividend in March 2014. The average dividend yield among industry peers is 18%. 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 zł42.00, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 977% over the past three years. Annonce • May 09
OT Logistics S.A., Annual General Meeting, May 26, 2023 OT Logistics S.A., Annual General Meeting, May 26, 2023, at 11:00 Central Europe Standard Time. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł35.40, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 708% over the past three years. Reported Earnings • Apr 27
Full year 2022 earnings released: EPS: zł10.78 (vs zł8.71 in FY 2021) Full year 2022 results: EPS: zł10.78 (up from zł8.71 in FY 2021). Revenue: zł455.3m (down 42% from FY 2021). Net income: zł138.8m (up 33% from FY 2021). Profit margin: 31% (up from 13% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 97% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł28.60, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 472% over the past three years. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł23.50, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 248% over the past three years. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 19% share price gain to zł17.45, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 249% over the past three years. Reported Earnings • Nov 24
Third quarter 2022 earnings released: EPS: zł4.49 (vs zł4.51 in 3Q 2021) Third quarter 2022 results: EPS: zł4.49. Revenue: zł127.3m (down 51% from 3Q 2021). Net income: zł58.8m (up 8.6% from 3Q 2021). Profit margin: 46% (up from 21% in 3Q 2021). Reported Earnings • Sep 29
Second quarter 2022 earnings released: EPS: zł2.65 (vs zł0.79 in 2Q 2021) Second quarter 2022 results: EPS: zł2.65 (up from zł0.79 in 2Q 2021). Revenue: zł147.8m (down 39% from 2Q 2021). Net income: zł33.6m (up 256% from 2Q 2021). Profit margin: 23% (up from 3.9% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 95% 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 • Sep 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to zł14.80, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improved over the past week After last week's 16% share price gain to zł17.70, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 10x in the Shipping industry in Europe. Total returns to shareholders of 234% over the past three years. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 25% share price gain to zł12.85, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 9x in the Shipping industry in Europe. Total returns to shareholders of 157% over the past three years. Annonce • Jun 07
OT Logistics S.A., Annual General Meeting, Jun 28, 2022 OT Logistics S.A., Annual General Meeting, Jun 28, 2022, at 11:00 Central European Standard Time. Reported Earnings • May 29
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: zł0.45 (down from zł3.94 in 1Q 2021). Revenue: zł69.1m (down 69% from 1Q 2021). Net income: zł5.86m (down 88% from 1Q 2021). Profit margin: 8.5% (down from 22% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Annonce • Apr 08
OT Logistics S.A. to Report Fiscal Year 2021 Results on Apr 29, 2022 OT Logistics S.A. announced that they will report fiscal year 2021 results on Apr 29, 2022 Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 15% share price gain to zł10.00, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 7x in the Shipping industry in Europe. Total returns to shareholders of 67% over the past three years. Reported Earnings • Nov 28
Third quarter 2021 earnings: EPS exceeds analyst expectations Third quarter 2021 results: EPS: zł4.51 (up from zł0.43 in 3Q 2020). Revenue: zł258.7m (up 23% from 3Q 2020). Net income: zł54.1m (up zł48.9m from 3Q 2020). Profit margin: 21% (up from 2.5% in 3Q 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Earnings per share (EPS) surpassed analyst estimates by 14%. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 22
Second quarter 2021 earnings released: EPS zł0.79 (vs zł1.09 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł241.3m (up 13% from 2Q 2020). Net income: zł9.42m (up zł22.4m from 2Q 2020). Profit margin: 3.9% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 9% per year. Reported Earnings • Jun 05
First quarter 2021 earnings released: EPS zł3.94 (vs zł3.12 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: zł219.2m (up 5.8% from 1Q 2020). Net income: zł47.2m (up zł84.7m from 1Q 2020). Profit margin: 22% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • May 06
Full year 2020 earnings released: zł8.87 loss per share (vs zł8.69 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: zł853.4m (down 13% from FY 2019). Net loss: zł106.5m (loss widened 2.1% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 05
New 90-day high: zł8.80 The company is up 117% from its price of zł4.06 on 04 December 2020. The Polish market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 27
New 90-day high: zł5.55 The company is up 24% from its price of zł4.48 on 28 October 2020. The Polish market is up 17% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 35% over the same period.