New Risk • Apr 29
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Market cap is less than US$10m (zł29.9m market cap, or US$8.24m). Minor Risks Dividend is not well covered by earnings (dividend per share is over 11x earnings per share). Share price has been volatile over the past 3 months (10.0% average weekly change). Profit margins are more than 30% lower than last year (0.7% net profit margin). New Risk • Feb 02
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 7.5% 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: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.06% net profit margin). Market cap is less than US$100m (zł41.4m market cap, or US$11.6m). Reported Earnings • Nov 30
Third quarter 2025 earnings released: EPS: zł0.13 (vs zł0.24 in 3Q 2024) Third quarter 2025 results: EPS: zł0.13 (down from zł0.24 in 3Q 2024). Revenue: zł36.9m (up 21% from 3Q 2024). Net income: zł1.00m (down 45% from 3Q 2024). Profit margin: 2.7% (down from 5.9% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Sep 26
Second quarter 2025 earnings released: EPS: zł0.061 (vs zł0.049 in 2Q 2024) Second quarter 2025 results: EPS: zł0.061 (up from zł0.049 in 2Q 2024). Revenue: zł30.5m (up 15% from 2Q 2024). Net income: zł463.9k (up 24% from 2Q 2024). Profit margin: 1.5% (up from 1.4% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. お知らせ • Aug 22
Mex Polska S.A. to Report First Half, 2025 Results on Sep 24, 2025 Mex Polska S.A. announced that they will report first half, 2025 results on Sep 24, 2025 Reported Earnings • May 29
First quarter 2025 earnings released: zł0.13 loss per share (vs zł0.083 profit in 1Q 2024) First quarter 2025 results: zł0.13 loss per share (down from zł0.083 profit in 1Q 2024). Revenue: zł25.9m (up 15% from 1Q 2024). Net loss: zł1.00m (down 258% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Upcoming Dividend • May 19
Upcoming dividend of zł0.11 per share Eligible shareholders must have bought the stock before 26 May 2025. Payment date: 03 June 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Polish dividend payers (6.9%). Higher than average of industry peers (2.8%). New Risk • May 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 Risk Market cap is less than US$10m (zł27.1m market cap, or US$7.19m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). お知らせ • Apr 24
Mex Polska S.A., Annual General Meeting, May 20, 2025 Mex Polska S.A., Annual General Meeting, May 20, 2025. Declared Dividend • Apr 17
Dividend reduced to zł0.11 Dividend of zł0.11 is 59% lower than last year. Ex-date: 19th May 2025 Payment date: 29th May 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.1%. Sustainability & Growth The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. お知らせ • Apr 16
Mex Polska S.A. announces Annual dividend, payable on May 29, 2025 Mex Polska S.A. announced Annual dividend of PLN 0.1100 per share payable on May 29, 2025, ex-date on May 19, 2025 and record date on May 20, 2025. New Risk • Mar 30
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Market cap is less than US$10m (zł30.4m market cap, or US$7.86m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Feb 21
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: Major Risk Market cap is less than US$10m (zł30.3m market cap, or US$7.61m). 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 (7.4% average weekly change). Large one-off items impacting financial results. Reported Earnings • Dec 01
Third quarter 2023 earnings released: EPS: zł0.29 (vs zł0.51 in 3Q 2022) Third quarter 2023 results: EPS: zł0.29 (down from zł0.51 in 3Q 2022). Revenue: zł28.8m (up 12% from 3Q 2022). Net income: zł2.20m (down 44% from 3Q 2022). Profit margin: 7.6% (down from 15% in 3Q 2022). New Risk • Aug 16
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 6.7% 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 Market cap is less than US$10m (zł37.2m market cap, or US$9.62m). 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 (6.7% average weekly change). Large one-off items impacting financial results. Buy Or Sell Opportunity • Aug 13
Now 20% overvalued Over the last 90 days, the stock has fallen 6.2% to zł4.37. The fair value is estimated to be zł3.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • May 22
Upcoming dividend of zł0.27 per share Eligible shareholders must have bought the stock before 29 May 2024. Payment date: 14 June 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 5.8%. Lower than top quartile of Polish dividend payers (7.3%). Higher than average of industry peers (2.9%). お知らせ • Apr 11
Mex Polska S.A., Annual General Meeting, May 14, 2024 Mex Polska S.A., Annual General Meeting, May 14, 2024, at 12:00 Central European Standard Time. Reported Earnings • Apr 09
Full year 2023 earnings released: EPS: zł0.29 (vs zł0.76 in FY 2022) Full year 2023 results: EPS: zł0.29. Revenue: zł716.2m (up zł634.4m from FY 2022). Net income: zł221.6m (up zł215.8m from FY 2022). Profit margin: 31% (up from 7.1% in FY 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł4.54, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 23x in the Hospitality industry in Poland. Total returns to shareholders of 196% over the past three years. Reported Earnings • Nov 30
Third quarter 2023 earnings released: EPS: zł0.29 (vs zł0.51 in 3Q 2022) Third quarter 2023 results: EPS: zł0.29 (down from zł0.51 in 3Q 2022). Revenue: zł28.8m (up 12% from 3Q 2022). Net income: zł2.20m (down 44% from 3Q 2022). Profit margin: 7.6% (down from 15% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 01
Second quarter 2023 earnings released: EPS: zł0.14 (vs zł0.18 in 2Q 2022) Second quarter 2023 results: EPS: zł0.14 (down from zł0.18 in 2Q 2022). Revenue: zł24.5m (up 23% from 2Q 2022). Net income: zł1.08m (down 20% from 2Q 2022). Profit margin: 4.4% (down from 6.8% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 93% 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 • Jul 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł4.32, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 25x in the Hospitality industry in Poland. Total returns to shareholders of 136% over the past three years. New Risk • Jul 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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 Risk Market cap is less than US$10m (zł28.2m market cap, or US$6.95m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.9% net profit margin). Upcoming Dividend • Jun 26
Upcoming dividend of zł0.14 per share Eligible shareholders must have bought the stock before 03 July 2023. Payment date: 11 July 2023. The company last paid an ordinary dividend in March 2016. The average dividend yield among industry peers is 2.2%. お知らせ • Jun 02
Mex Polska S.A., Annual General Meeting, Jun 27, 2023 Mex Polska S.A., Annual General Meeting, Jun 27, 2023, at 13:00 Central European Standard Time. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł3.97, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 24x in the Hospitality industry in Poland. Total returns to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł2.80, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 22x in the Hospitality industry in Poland. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improved over the past week After last week's 16% share price gain to zł2.44, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 40x in the Hospitality industry in Poland. Total loss to shareholders of 19% over the past three years. Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: zł0.51 (vs zł0.70 in 3Q 2021) Third quarter 2022 results: EPS: zł0.51 (down from zł0.70 in 3Q 2021). Revenue: zł25.7m (up 22% from 3Q 2021). Net income: zł3.91m (down 27% from 3Q 2021). Profit margin: 15% (down from 25% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 26% share price gain to zł2.34, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 40x in the Hospitality industry in Poland. Total loss to shareholders of 9.3% over the past three years. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improved over the past week After last week's 17% share price gain to zł2.03, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 20x in the Hospitality industry in Poland. Total loss to shareholders of 25% over the past three years. Reported Earnings • Sep 30
Second quarter 2022 earnings released: EPS: zł0.18 (vs zł0.33 in 2Q 2021) Second quarter 2022 results: EPS: zł0.18 (down from zł0.33 in 2Q 2021). Revenue: zł19.9m (up 124% from 2Q 2021). Net income: zł1.35m (down 46% from 2Q 2021). Profit margin: 6.8% (down from 28% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. お知らせ • Jun 02
Mex Polska S.A., Annual General Meeting, Jun 27, 2022 Mex Polska S.A., Annual General Meeting, Jun 27, 2022, at 11:00 Central European Standard Time. Reported Earnings • Dec 01
Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint Third quarter 2021 results: EPS: zł0.70 (up from zł0.082 in 3Q 2020). Revenue: zł21.1m (up 18% from 3Q 2020). Net income: zł5.35m (up zł4.72m from 3Q 2020). Profit margin: 25% (up from 3.5% in 3Q 2020). Revenue missed analyst estimates by 1.8%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 25
Second quarter 2021 earnings released: EPS zł0.33 (vs zł0.43 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł8.89m (up 48% from 2Q 2020). Net income: zł2.50m (up zł5.82m from 2Q 2020). Profit margin: 28% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 12
New 90-day high: zł1.94 The company is up 48% from its price of zł1.31 on 13 November 2020. The Polish market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 47% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: zł1.80 The company is up 61% from its price of zł1.12 on 23 October 2020. The Polish market is up 17% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Hospitality industry, which is up 68% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: zł1.45 The company is up 2.0% from its price of zł1.42 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 44% over the same period. Reported Earnings • Dec 02
Third quarter 2020 earnings released: EPS zł0.082 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: zł17.9m (down 18% from 3Q 2019). Net income: zł625.1k (down 61% from 3Q 2019). Profit margin: 3.5% (down from 7.4% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 84% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 07
New 90-day low: zł0.96 The company is down 27% from its price of zł1.32 on 07 August 2020. The Polish market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 9.0% over the same period. Is New 90 Day High Low • Oct 07
New 90-day low: zł1.24 The company is down 37% from its price of zł1.98 on 09 July 2020. The Polish market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 12% over the same period. Reported Earnings • Sep 28
First half earnings released Over the last 12 months the company has reported total losses of zł4.62m, with earnings decreasing by zł7.29m from the prior year. Total revenue was zł61.4m over the last 12 months, down 13% from the prior year.