New Risk • Jul 08
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 1,090% 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 (1,090% accrual ratio). Minor Risk Market cap is less than US$100m (zł241.1m market cap, or US$63.8m). Annuncio • Jun 04
Bumech S.A., Annual General Meeting, Jun 30, 2026 Bumech S.A., Annual General Meeting, Jun 30, 2026, at 11:00 Central European Standard Time. Reported Earnings • Nov 27
Third quarter 2025 earnings released: zł0.26 loss per share (vs zł1.44 loss in 3Q 2024) Third quarter 2025 results: zł0.26 loss per share (improved from zł1.44 loss in 3Q 2024). Revenue: zł65.0m (down 25% from 3Q 2024). Net loss: zł3.93m (loss narrowed 81% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. New Risk • Nov 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł367.3m (US$99.6m) This is considered a minor 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 (18% average weekly change). Negative equity (-zł409m). Earnings have declined by 56% per year over the past 5 years. Minor Risk Market cap is less than US$100m (zł367.3m market cap, or US$99.6m). Reported Earnings • Sep 17
Second quarter 2025 earnings released: EPS: zł0.46 (vs zł1.69 loss in 2Q 2024) Second quarter 2025 results: EPS: zł0.46 (up from zł1.69 loss in 2Q 2024). Revenue: zł111.6m (down 15% from 2Q 2024). Net income: zł6.94m (up zł31.4m from 2Q 2024). Profit margin: 6.2% (up from net loss in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Annuncio • Aug 21
Bumech S.A. to Report First Half, 2025 Results on Sep 16, 2025 Bumech S.A. announced that they will report first half, 2025 results on Sep 16, 2025 New Risk • May 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 0.3% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.3% operating cash flow to total debt). Negative equity (-zł420m). Earnings have declined by 26% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (zł124.5m market cap, or US$33.2m). Reported Earnings • Nov 21
Third quarter 2024 earnings released: zł1.44 loss per share (vs zł0.45 profit in 3Q 2023) Third quarter 2024 results: zł1.44 loss per share (down from zł0.45 profit in 3Q 2023). Revenue: zł86.7m (down 64% from 3Q 2023). Net loss: zł20.8m (down 421% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 01
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł131.1m (up 54% from 2Q 2023). Net loss: zł24.4m (loss narrowed 63% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. New Risk • Aug 12
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 7.4% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (zł202.7m market cap, or US$51.5m). Annuncio • May 31
Bumech S.A., Annual General Meeting, Jun 27, 2024 Bumech S.A., Annual General Meeting, Jun 27, 2024. Reported Earnings • May 23
First quarter 2024 earnings released: zł2.17 loss per share (vs zł2.07 profit in 1Q 2023) First quarter 2024 results: zł2.17 loss per share (down from zł2.07 profit in 1Q 2023). Revenue: zł153.5m (down 30% from 1Q 2023). Net loss: zł31.4m (down 205% from profit in 1Q 2023). 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 66% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł14.59, the stock trades at a trailing P/E ratio of 6.2x. Average forward P/E is 13x in the Commercial Services industry in Poland. Total returns to shareholders of 465% over the past three years. Reported Earnings • Nov 23
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł242.5m (down 32% from 3Q 2022). Net income: zł6.50m (down 96% from 3Q 2022). Profit margin: 2.7% (down from 41% in 3Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 69% 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 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 157% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 157% per year for the foreseeable future. High level of non-cash earnings (41% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (18% net profit margin). Market cap is less than US$100m (zł362.0m market cap, or US$87.6m). Buying Opportunity • Nov 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 9.8%. The fair value is estimated to be zł33.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 78% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Oct 11
Upcoming dividend of zł2.00 per share at 6.7% yield Eligible shareholders must have bought the stock before 18 October 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 6.7%. Lower than top quartile of Polish dividend payers (8.0%). Higher than average of industry peers (4.9%). Reported Earnings • Sep 20
Second quarter 2023 earnings released: zł4.60 loss per share (vs zł8.68 profit in 2Q 2022) Second quarter 2023 results: zł4.60 loss per share (down from zł8.68 profit in 2Q 2022). Revenue: zł85.0m (down 76% from 2Q 2022). Net loss: zł66.8m (down 153% from profit in 2Q 2022). Revenue is forecast to grow 1.0% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 134% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł405.8m (US$98.9m) This is considered a minor 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 Risk High level of non-cash earnings (37% accrual ratio). Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (30% net profit margin). Market cap is less than US$100m (zł405.8m market cap, or US$98.9m). New Risk • Jul 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł399.7m (US$97.0m) This is considered a minor 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 Risk High level of non-cash earnings (37% accrual ratio). Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (30% net profit margin). Market cap is less than US$100m (zł399.7m market cap, or US$97.0m). Annuncio • May 27
Bumech S.A., Annual General Meeting, Jun 21, 2023 Bumech S.A., Annual General Meeting, Jun 21, 2023, at 12:00 Central European Standard Time. Reported Earnings • Apr 19
Full year 2022 earnings released: EPS: zł24.62 (vs zł27.90 in FY 2021) Full year 2022 results: EPS: zł24.62 (down from zł27.90 in FY 2021). Revenue: zł1.11b (up 160% from FY 2021). Net income: zł356.6m (down 12% from FY 2021). Profit margin: 32% (down from 95% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 9.0% p.a. on average during the next 2 years, while revenues in the Commercial Services industry in Europe are expected to grow by 7.8%. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has increased by 136% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: zł10.16 (vs zł2.63 in 3Q 2021) Third quarter 2022 results: EPS: zł10.16 (up from zł2.63 in 3Q 2021). Revenue: zł355.7m (up 212% from 3Q 2021). Net income: zł147.2m (up 287% from 3Q 2021). Profit margin: 41% (up from 33% in 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has increased by 169% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 26
Second quarter 2022 earnings released: EPS: zł8.68 (vs zł1.38 in 2Q 2021) Second quarter 2022 results: EPS: zł8.68 (up from zł1.38 in 2Q 2021). Revenue: zł353.0m (up 200% from 2Q 2021). Net income: zł125.7m (up zł105.7m from 2Q 2021). Profit margin: 36% (up from 17% in 2Q 2021). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 139% per year whereas the company’s share price has increased by 144% per year. Buying Opportunity • Sep 13
Now 24% undervalued Over the last 90 days, the stock is up 100%. The fair value is estimated to be zł80.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 77% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 18% share price gain to zł87.45, the stock trades at a trailing P/E ratio of 3x. Average forward P/E is 13x in the Commercial Services industry in Poland. Total returns to shareholders of 2,283% over the past three years. Buying Opportunity • Aug 04
Now 21% undervalued Over the last 90 days, the stock is up 122%. The fair value is estimated to be zł79.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 77% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 16% share price gain to zł62.70, the stock trades at a trailing P/E ratio of 2.2x. Average forward P/E is 14x in the Commercial Services industry in Poland. Total returns to shareholders of 1,550% over the past three years. Annuncio • Jun 07
Bumech S.A., Annual General Meeting, Jun 30, 2022 Bumech S.A., Annual General Meeting, Jun 30, 2022, at 11:00 Central European Standard Time. Reported Earnings • Jun 02
First quarter 2022 earnings released: EPS: zł1.34 (vs zł0.085 in 1Q 2021) First quarter 2022 results: EPS: zł1.34 (up from zł0.085 in 1Q 2021). Revenue: zł116.8m (up 37% from 1Q 2021). Net income: zł19.4m (up zł18.2m from 1Q 2021). Profit margin: 17% (up from 1.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 147% per year but the company’s share price has only increased by 115% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorated over the past week After last week's 32% share price decline to zł28.38, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 8x in the Commercial Services industry in Poland. Total returns to shareholders of 691% 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 22% share price decline to zł14.65, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 9x in the Commercial Services industry in Poland. Total returns to shareholders of 304% over the past three years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improved over the past week After last week's 20% share price gain to zł24.50, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 10x in the Commercial Services industry in Poland. Total returns to shareholders of 868% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 18% share price decline to zł19.45, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 7x in the Commercial Services industry in Poland. Total returns to shareholders of 704% over the past three years. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł22.80, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 9x in the Commercial Services industry in Poland. Total returns to shareholders of 842% over the past three years. Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS zł2.63 (vs zł0.09 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł114.2m (up 476% from 3Q 2020). Net income: zł38.0m (up zł36.7m from 3Q 2020). Profit margin: 33% (up from 6.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 124% per year but the company’s share price has only increased by 117% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment deteriorated over the past week After last week's 22% share price decline to zł24.40, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 12x in the Commercial Services industry in Poland. Total returns to shareholders of 824% over the past three years. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 43% share price gain to zł31.80, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 12x in the Commercial Services industry in Poland. Total returns to shareholders of 932% over the past three years. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improved over the past week After last week's 78% share price gain to zł12.45, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 11x in the Commercial Services industry in Poland. Total returns to shareholders of 290% over the past three years. Annuncio • Sep 10
Tomasz Dera acquired 8.15% stake in Bumech S.A. (WSE:BMC). Tomasz Dera acquired 8.15% stake in Bumech S.A. (WSE:BMC) on September 9, 2021.
Tomasz Dera completed the acquisition of 8.15% stake in Bumech S.A. (WSE:BMC) on September 9, 2021. Reported Earnings • Jun 05
First quarter 2021 earnings released: EPS zł0.08 (vs zł0.17 in 1Q 2020) The company reported a decent first quarter result with improved revenues, although earnings and profit margins were weaker. First quarter 2021 results: Revenue: zł85.1m (up 231% from 1Q 2020). Net income: zł1.23m (down 50% from 1Q 2020). Profit margin: 1.4% (down from 9.5% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annuncio • Dec 18
Bumech S.A. (WSE:BMC) acquired 38.9% stake in Przedsiebiorstwo Gornicze SILESIA Spolka z o.o. from Energetický a prumyslový holding, a.s. Bumech S.A. (WSE:BMC) acquired 38.9% stake in Przedsiebiorstwo Gornicze SILESIA Spolka z o.o.("PG Silesia") from Energetický a prumyslový holding, a.s. on December 16, 2020. In a simultaneous transaction, Bumech will acquire Braindour Development Limited's stake in PG Silesia and increase its ownership in PG Silesia to 99.975%.
Bumech S.A. (WSE:BMC) completed the acquisition of 38.9% stake in Przedsiebiorstwo Gornicze SILESIA Spolka z o.o. from Energetický a prumyslový holding, a.s. on December 16, 2020. Is New 90 Day High Low • Dec 17
New 90-day high: zł2.62 The company is up 15% from its price of zł2.27 on 18 September 2020. The Polish market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is down 5.0% over the same period. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS zł0.09 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: zł19.8m (up 18% from 3Q 2019). Net income: zł1.32m (up zł4.32m from 3Q 2019). Profit margin: 6.7% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 30
New 90-day low: zł1.82 The company is down 21% from its price of zł2.31 on 31 July 2020. The Polish market is down 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 6.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day low: zł1.93 The company is down 25% from its price of zł2.56 on 15 July 2020. The Polish market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 10.0% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total losses of zł15.4m, with losses narrowing by 12% from the prior year. Total revenue was zł74.4m over the last 12 months, up 12% from the prior year.