Reported Earnings • Mar 05
Full year 2025 earnings released: EPS: zł0.04 (vs zł0.18 loss in FY 2024) Full year 2025 results: EPS: zł0.04 (up from zł0.18 loss in FY 2024). Revenue: zł282.5m (up 36% from FY 2024). Net income: zł3.39m (up zł19.1m from FY 2024). Profit margin: 1.2% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: zł0.049 (vs zł0.039 loss in 3Q 2024) Third quarter 2025 results: EPS: zł0.049 (up from zł0.039 loss in 3Q 2024). Revenue: zł72.7m (up 73% from 3Q 2024). Net income: zł4.20m (up zł7.57m from 3Q 2024). Profit margin: 5.8% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł79.9m (up 58% from 2Q 2024). Net income: zł3.24m (up zł6.03m from 2Q 2024). Profit margin: 4.1% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. New Risk • Sep 18
New major risk - Revenue and earnings growth Earnings have declined by 24% 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. This is currently the only risk that has been identified for the company. 공시 • May 20
BIOTON S.A., Annual General Meeting, Jun 23, 2025 BIOTON S.A., Annual General Meeting, Jun 23, 2025. Reported Earnings • Feb 07
Full year 2024 earnings released: zł0.18 loss per share (vs zł0.026 profit in FY 2023) Full year 2024 results: zł0.18 loss per share (down from zł0.026 profit in FY 2023). Revenue: zł207.8m (up 14% from FY 2023). Net loss: zł15.7m (down zł17.9m from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 10
Third quarter 2024 earnings released: zł0.039 loss per share (vs zł0.051 loss in 3Q 2023) Third quarter 2024 results: zł0.039 loss per share (improved from zł0.051 loss in 3Q 2023). Revenue: zł42.0m (down 17% from 3Q 2023). Net loss: zł3.37m (loss narrowed 24% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 28
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł50.6m (up 3.2% from 2Q 2023). Net loss: zł2.79m (down 296% 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 86 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2024 earnings released: zł0.059 loss per share (vs zł0.002 loss in 1Q 2023) First quarter 2024 results: zł0.059 loss per share (further deteriorated from zł0.002 loss in 1Q 2023). Revenue: zł37.5m (up 9.0% from 1Q 2023). Net loss: zł5.04m (loss widened zł4.91m from 1Q 2023). 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. 공시 • May 10
BIOTON S.A., Annual General Meeting, Jun 06, 2024 BIOTON S.A., Annual General Meeting, Jun 06, 2024. Reported Earnings • Mar 31
Full year 2023 earnings released Full year 2023 results: Revenue: zł181.6m (down 22% from FY 2022). Net income: zł2.28m (up 60% from FY 2022). Profit margin: 1.3% (up from 0.6% in FY 2022). The increase in margin was driven by lower expenses. New Risk • Nov 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% 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: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (zł322.8m market cap, or US$77.1m). Reported Earnings • Nov 02
Third quarter 2023 earnings released: zł0.051 loss per share (vs zł0.023 loss in 3Q 2022) Third quarter 2023 results: zł0.051 loss per share (further deteriorated from zł0.023 loss in 3Q 2022). Revenue: zł50.7m (down 12% from 3Q 2022). Net loss: zł4.42m (loss widened 128% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 03
Second quarter 2023 earnings released: EPS: zł0.017 (vs zł0.017 in 2Q 2022) Second quarter 2023 results: EPS: zł0.017 (in line with 2Q 2022). Revenue: zł49.0m (up 2.1% from 2Q 2022). Net income: zł1.42m (down 2.8% from 2Q 2022). Profit margin: 2.9% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 31
First quarter 2023 earnings released: zł0.002 loss per share (vs zł0.036 loss in 1Q 2022) First quarter 2023 results: zł0.002 loss per share (improved from zł0.036 loss in 1Q 2022). Revenue: zł34.4m (down 31% from 1Q 2022). Net loss: zł134.0k (loss narrowed 96% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. 공시 • May 26
BIOTON S.A., Annual General Meeting, Jun 21, 2023 BIOTON S.A., Annual General Meeting, Jun 21, 2023, at 10:00 Central European Standard Time. Reported Earnings • May 04
First quarter 2023 earnings released: zł0.002 loss per share (vs zł0.036 loss in 1Q 2022) First quarter 2023 results: zł0.002 loss per share (improved from zł0.036 loss in 1Q 2022). Revenue: zł34.4m (down 31% from 1Q 2022). Net loss: zł134.0k (loss narrowed 96% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 06
Third quarter 2022 earnings released: zł0.023 loss per share (vs zł0.054 profit in 3Q 2021) Third quarter 2022 results: zł0.023 loss per share (down from zł0.054 profit in 3Q 2021). Revenue: zł57.5m (up 20% from 3Q 2021). Net loss: zł1.93m (down 142% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: zł0.017 (vs zł0.043 in 2Q 2021) Second quarter 2022 results: EPS: zł0.017 (down from zł0.043 in 2Q 2021). Revenue: zł48.1m (up 32% from 2Q 2021). Net income: zł1.46m (down 60% from 2Q 2021). Profit margin: 3.0% (down from 10.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. 공시 • Jun 01
BIOTON S.A., Annual General Meeting, Jun 30, 2022 BIOTON S.A., Annual General Meeting, Jun 30, 2022, at 10:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 45% share price gain to zł5.50, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 32x in the Biotechs industry in Poland. Total returns to shareholders of 11% over the past three years. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS zł0.054 (vs zł0.028 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł47.8m (up 10% from 3Q 2020). Net income: zł4.61m (up 93% from 3Q 2020). Profit margin: 9.6% (up from 5.5% 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 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 03
Second quarter 2021 earnings released: EPS zł0.043 (vs zł0.08 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł36.5m (down 27% from 2Q 2020). Net income: zł3.67m (down 46% from 2Q 2020). Profit margin: 10.0% (down from 14% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Apr 19
Full year 2020 earnings released: EPS zł0.40 (vs zł1.48 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł221.8m (up 9.8% from FY 2019). Net income: zł33.9m (up zł160.6m from FY 2019). Profit margin: 15% (up from net loss in FY 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 22
New 90-day high: zł4.64 The company is up 1.0% from its price of zł4.57 on 24 November 2020. The Polish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Biotechs industry, which is down 13% over the same period. Reported Earnings • Nov 05
Third quarter 2020 earnings released: EPS zł0.028 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł43.4m (down 3.3% from 3Q 2019). Net income: zł2.39m (up zł9.73m from 3Q 2019). Profit margin: 5.5% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Sep 24
New 90-day low: zł4.16 The company is down 11% from its price of zł4.65 on 26 June 2020. The Polish market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 44% over the same period.