Aankondiging • Mar 27
PCC Exol S.A., Annual General Meeting, Apr 21, 2026 PCC Exol S.A., Annual General Meeting, Apr 21, 2026, at 12:30 Central European Standard Time. New Risk • Mar 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł358.7m (US$96.9m) 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 Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Earnings have declined by 7.2% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (zł358.7m market cap, or US$96.9m). Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: zł0.059 (vs zł0.037 in 3Q 2024) Third quarter 2025 results: EPS: zł0.059 (up from zł0.037 in 3Q 2024). Revenue: zł270.9m (up 18% from 3Q 2024). Net income: zł10.2m (up 56% from 3Q 2024). Profit margin: 3.8% (up from 2.8% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Aankondiging • Nov 11
PCC Exol S.A. to Report Q3, 2025 Results on Nov 13, 2025 PCC Exol S.A. announced that they will report Q3, 2025 results on Nov 13, 2025 Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: zł0.054 (vs zł0.05 in 2Q 2024) Second quarter 2025 results: EPS: zł0.054 (up from zł0.05 in 2Q 2024). Revenue: zł269.9m (up 17% from 2Q 2024). Net income: zł9.38m (up 7.9% from 2Q 2024). Profit margin: 3.5% (down from 3.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Aug 21
New major risk - Revenue and earnings growth Earnings have declined by 1.8% 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 Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Earnings have declined by 1.8% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Aankondiging • Aug 20
PCC Exol S.A. to Report First Half, 2025 Results on Aug 20, 2025 PCC Exol S.A. announced that they will report first half, 2025 results on Aug 20, 2025 Reported Earnings • May 22
First quarter 2025 earnings released: EPS: zł0.066 (vs zł0.052 in 1Q 2024) First quarter 2025 results: EPS: zł0.066 (up from zł0.052 in 1Q 2024). Revenue: zł290.0m (up 20% from 1Q 2024). Net income: zł11.4m (up 27% from 1Q 2024). Profit margin: 3.9% (up from 3.7% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł379.6m (US$96.4m) 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: Minor Risks High level of debt (50% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (zł379.6m market cap, or US$96.4m). Aankondiging • Mar 31
PCC Exol S.A., Annual General Meeting, Apr 24, 2025 PCC Exol S.A., Annual General Meeting, Apr 24, 2025. Reported Earnings • Mar 28
Full year 2024 earnings released: EPS: zł0.20 (vs zł0.24 in FY 2023) Full year 2024 results: EPS: zł0.20 (down from zł0.24 in FY 2023). Revenue: zł948.1m (flat on FY 2023). Net income: zł35.6m (down 16% from FY 2023). Profit margin: 3.8% (down from 4.4% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Dec 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł400.5m (US$99.4m) 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: Minor Risks High level of debt (50% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (zł400.5m market cap, or US$99.4m). Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: zł0.037 (vs zł0.077 in 3Q 2023) Third quarter 2024 results: EPS: zł0.037 (down from zł0.077 in 3Q 2023). Revenue: zł230.3m (up 1.3% from 3Q 2023). Net income: zł6.51m (down 51% from 3Q 2023). Profit margin: 2.8% (down from 5.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: zł0.05 (vs zł0.029 in 2Q 2023) Second quarter 2024 results: EPS: zł0.05 (up from zł0.029 in 2Q 2023). Revenue: zł230.1m (up 2.0% from 2Q 2023). Net income: zł8.69m (up 69% from 2Q 2023). Profit margin: 3.8% (up from 2.3% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: zł0.052 (vs zł0.12 in 1Q 2023) First quarter 2024 results: EPS: zł0.052 (down from zł0.12 in 1Q 2023). Revenue: zł241.8m (down 14% from 1Q 2023). Net income: zł8.98m (down 56% from 1Q 2023). Profit margin: 3.7% (down from 7.2% 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 3% per year whereas the company’s share price has fallen by 1% per year. Aankondiging • Apr 26
PCC Exol S.A., Annual General Meeting, May 20, 2024 PCC Exol S.A., Annual General Meeting, May 20, 2024. Reported Earnings • Nov 16
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł227.4m (down 23% from 3Q 2022). Net income: zł13.3m (down 52% from 3Q 2022). Profit margin: 5.9% (down from 9.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 23
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł225.7m (down 27% from 2Q 2022). Net income: zł5.13m (down 85% from 2Q 2022). Profit margin: 2.3% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • May 21
First quarter 2023 earnings released First quarter 2023 results: Revenue: zł281.6m (down 5.4% from 1Q 2022). Net income: zł20.3m (down 48% from 1Q 2022). Profit margin: 7.2% (down from 13% in 1Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł4.15, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 7x in the Chemicals industry in Poland. Total returns to shareholders of 130% over the past three years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł2.82, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 7x in the Chemicals industry in Poland. Total returns to shareholders of 99% over the past three years. Reported Earnings • Aug 23
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł310.2m (up 65% from 2Q 2021). Net income: zł33.7m (up 229% from 2Q 2021). Profit margin: 11% (up from 5.5% in 2Q 2021). The increase in margin was driven by higher revenue. Buying Opportunity • May 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.4%. The fair value is estimated to be zł3.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Earnings per share has grown by 25%. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 18% share price gain to zł2.65, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 11x in the Chemicals industry in Poland. Total returns to shareholders of 93% over the past three years. Buying Opportunity • Feb 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be zł2.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.2% per annum over the last 3 years. Earnings per share has grown by 25% per annum over the last 3 years. Reported Earnings • Nov 10
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł199.8m (up 30% from 3Q 2020). Net income: zł13.6m (up 48% from 3Q 2020). Profit margin: 6.8% (up from 6.0% 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 25% per year whereas the company’s share price has increased by 23% per year. Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: zł187.7m (up 29% from 2Q 2020). Net income: zł10.2m (up 8.0% from 2Q 2020). Profit margin: 5.5% (down from 6.5% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
First quarter 2021 earnings released The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: zł187.4m (up 5.2% from 1Q 2020). Net income: zł11.4m (down 7.1% from 1Q 2020). Profit margin: 6.1% (down from 6.9% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 29
Upcoming dividend of zł0.17 per share Eligible shareholders must have bought the stock before 05 May 2021. Payment date: 14 May 2021. Trailing yield: 1.5%. Lower than top quartile of Polish dividend payers (5.2%). Lower than average of industry peers (2.4%). Reported Earnings • Mar 12
Full year 2020 earnings released: EPS zł0.23 (vs zł0.16 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł645.9m (up 1.1% from FY 2019). Net income: zł40.2m (up 42% from FY 2019). Profit margin: 6.2% (up from 4.4% in FY 2019). Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 24% per year. Is New 90 Day High Low • Feb 26
New 90-day low: zł3.23 The company is down 5.0% from its price of zł3.41 on 27 November 2020. The Polish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: zł3.24 The company is down 18% from its price of zł3.96 on 29 September 2020. The Polish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 4.0% over the same period. Reported Earnings • Nov 24
Third quarter 2020 earnings released: EPS zł0.053 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł154.3m (down 2.9% from 3Q 2019). Net income: zł9.22m (up 52% from 3Q 2019). Profit margin: 6.0% (up from 3.8% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year and the company’s share price has also increased by 23% per year. Valuation Update With 7 Day Price Move • Nov 16
Market bids up stock over the past week After last week's 21% share price gain to zł4.13, the stock is trading at a trailing P/E ratio of 22.1x, up from the previous P/E ratio of 18.3x. This compares to an average P/E of 15x in the Chemicals industry in Poland. Total returns to shareholders over the past three years are 162%. Valuation Update With 7 Day Price Move • Oct 29
Market pulls back on stock over the past week After last week's 26% share price decline to zł3.29, the stock is trading at a trailing P/E ratio of 17.6x, down from the previous P/E ratio of 23.7x. This compares to an average P/E of 15x in the Chemicals industry in Poland. Total returns to shareholders over the past three years are 125%. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 16% share price gain to zł4.35, the stock is trading at a trailing P/E ratio of 23.3x, up from the previous P/E ratio of 20x. This compares to an average P/E of 18x in the Chemicals industry in Poland. Total returns to shareholders over the past three years are 189%.