New Risk • Jun 05
New major risk - Revenue and earnings growth Earnings have declined by 22% 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 22% per year over the past 5 years. Market cap is less than US$10m (zł31.0m market cap, or US$8.49m). Minor Risk Revenue is less than US$5m (zł13m revenue, or US$3.5m). 공시 • Jun 03
Sedivio S.A., Annual General Meeting, Jun 30, 2026 Sedivio S.A., Annual General Meeting, Jun 30, 2026, at 12:00 Central European Standard Time. Reported Earnings • Feb 15
Full year 2025 earnings released Full year 2025 results: zł0.31 loss per share. Revenue: zł11.3m (down 5.9% from FY 2024). Net loss: zł983.8k (loss widened zł870.2k from FY 2024). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. 공시 • Feb 09
Sedivio S.A. to Report Q4, 2025 Results on Feb 11, 2026 Sedivio S.A. announced that they will report Q4, 2025 results on Feb 11, 2026 Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł9.90, the stock trades at a trailing P/E ratio of 36.1x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 72% over the past three years. 공시 • Nov 10
Sedivio S.A. to Report Q3, 2025 Results on Nov 12, 2025 Sedivio S.A. announced that they will report Q3, 2025 results on Nov 12, 2025 Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to zł10.05, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 20x in the IT industry in Poland. Total returns to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to zł6.90, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 21x in the IT industry in Poland. Total returns to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to zł7.92, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 17x in the IT industry in Poland. Negligible returns to shareholders over past three years. New Risk • Jan 17
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 High level of non-cash earnings (29% accrual ratio). Market cap is less than US$10m (zł30.8m market cap, or US$7.44m). 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 (6.7% net profit margin). Revenue is less than US$5m (zł13m revenue, or US$3.1m). Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł9.96, the stock trades at a trailing P/E ratio of 36.3x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 2.5% over the past three years. New Risk • Nov 28
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: 6.7% Last year net profit margin: 16% 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 Risks High level of non-cash earnings (29% accrual ratio). Market cap is less than US$10m (zł28.4m market cap, or US$6.96m). Minor Risks Profit margins are more than 30% lower than last year (6.7% net profit margin). Shareholders have been diluted in the past year (8.6% increase in shares outstanding). Revenue is less than US$5m (zł13m revenue, or US$3.1m). New Risk • Nov 03
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 8.5% 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 (8.5% average weekly change). High level of non-cash earnings (54% accrual ratio). Market cap is less than US$10m (zł29.5m market cap, or US$7.34m). Minor Risks Shareholders have been diluted in the past year (8.6% increase in shares outstanding). Revenue is less than US$5m (zł13m revenue, or US$3.3m). 공시 • Jun 05
Sedivio S.A., Annual General Meeting, Jun 27, 2024 Sedivio S.A., Annual General Meeting, Jun 27, 2024. Reported Earnings • May 20
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł3.35m (down 19% from 1Q 2023). Net income: zł262.9k (down 64% from 1Q 2023). Profit margin: 7.8% (down from 18% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to zł12.35, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 13x in the IT industry in Poland. Total returns to shareholders of 306% over the past three years. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: zł0.82 (vs zł0.44 in FY 2022) Full year 2023 results: EPS: zł0.82 (up from zł0.44 in FY 2022). Revenue: zł15.0m (up 30% from FY 2022). Net income: zł2.29m (up 86% from FY 2022). Profit margin: 15% (up from 11% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. New Risk • Dec 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (55% accrual ratio). Market cap is less than US$10m (zł31.0m market cap, or US$7.95m). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Revenue is less than US$5m (zł16m revenue, or US$4.0m). Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł12.00, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 18x in the IT industry in Poland. Total returns to shareholders of 376% over the past three years. New Risk • Aug 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł40.3m (US$9.80m) 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 High level of non-cash earnings (51% accrual ratio). Market cap is less than US$10m (zł40.3m market cap, or US$9.80m). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (zł15m revenue, or US$3.7m). Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to zł14.35, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 21x in the IT industry in Poland. Total returns to shareholders of 332% over the past three years. Reported Earnings • Aug 13
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł3.64m (up 61% from 2Q 2022). Net income: zł224.1k (up 40% from 2Q 2022). Profit margin: 6.2% (down from 7.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł16.80, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 19x in the IT industry in Poland. Total returns to shareholders of 541% over the past three years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to zł14.95, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 18x in the IT industry in Poland. Total returns to shareholders of 430% over the past three years. 공시 • May 31
Sedivio S.A., Annual General Meeting, Jun 22, 2023 Sedivio S.A., Annual General Meeting, Jun 22, 2023, at 14:00 Central European Standard Time. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to zł11.10, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 20x in the IT industry in Poland. Total returns to shareholders of 466% over the past three years. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: zł0.47 (vs zł0.15 in FY 2021) Full year 2022 results: EPS: zł0.47 (up from zł0.15 in FY 2021). Revenue: zł11.5m (up 80% from FY 2021). Net income: zł1.32m (up 221% from FY 2021). Profit margin: 12% (up from 6.4% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 60% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to zł7.88, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 22x in the IT industry in Poland. Total returns to shareholders of 306% over the past three years. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to zł5.26, the stock trades at a trailing P/E ratio of 51.3x. Average trailing P/E is 14x in the IT industry in Poland. Total returns to shareholders of 1,192% over the past three years. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 18% share price gain to zł6.82, the stock trades at a trailing P/E ratio of 66.5x. Average trailing P/E is 16x in the IT industry in Poland. Total returns to shareholders of 1,753% over the past three years. Reported Earnings • Aug 16
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł2.26m (up 48% from 2Q 2021). Net income: zł160.6k (up 235% from 2Q 2021). Profit margin: 7.1% (up from 3.1% in 2Q 2021). The increase in margin was driven by higher revenue. 공시 • Jun 07
Sedivio S.A., Annual General Meeting, Jun 29, 2022 Sedivio S.A., Annual General Meeting, Jun 29, 2022, at 10:00 Central European Standard Time. Reported Earnings • Feb 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: zł0.15 (up from zł0.12 in FY 2020). Revenue: zł6.42m (up 61% from FY 2020). Net income: zł411.1k (up 25% from FY 2020). Profit margin: 6.4% (down from 8.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 194% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: zł1.58m (up 46% from 3Q 2020). Net income: zł30.8k (down 84% from 3Q 2020). Profit margin: 1.9% (down from 17% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 200% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 44% share price gain to zł5.96, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 16x in the IT industry in Poland. Total returns to shareholders of 1,706% over the past three years. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improved over the past week After last week's 29% share price gain to zł3.98, the stock trades at a trailing P/E ratio of 42.7x. Average trailing P/E is 16x in the IT industry in Poland. Total returns to shareholders of 976% over the past three years. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improved over the past week After last week's 25% share price gain to zł3.10, the stock is trading at a trailing P/E ratio of 21.4x, up from the previous P/E ratio of 17.1x. This compares to an average P/E of 15x in the IT industry in Poland. Total returns to shareholders over the past three years are 589%. Reported Earnings • Feb 15
Full year 2020 earnings released: EPS zł0.14 (vs zł0.28 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: zł3.98m (up 24% from FY 2019). Net income: zł389.0k (down 48% from FY 2019). Profit margin: 9.8% (down from 23% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 78% per year whereas the company’s share price has increased by 80% per year. 공시 • Feb 01
EC2 S.A. to Report Fiscal Year 2020 Results on May 28, 2021 EC2 S.A. announced that they will report fiscal year 2020 results on May 28, 2021 Is New 90 Day High Low • Oct 30
New 90-day low: zł2.40 The company is down 10.0% from its price of zł2.68 on 31 July 2020. The Polish market is down 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 11% over the same period.