Aankondiging • May 20
11 bit studios S.A., Annual General Meeting, Jun 16, 2026 11 bit studios S.A., Annual General Meeting, Jun 16, 2026, at 11:00 Central European Standard Time. Major Estimate Revision • May 18
Consensus EPS estimates fall by 41%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from zł93.8m to zł95.1m. EPS estimate fell from zł10.75 to zł6.38 per share. Net income forecast to grow 124% next year vs 6.3% growth forecast for Entertainment industry in Poland. Consensus price target of zł192 unchanged from last update. Share price fell 6.1% to zł145 over the past week. Reported Earnings • Apr 22
Full year 2025 earnings released: EPS: zł2.87 (vs zł2.85 in FY 2024) Full year 2025 results: EPS: zł2.87 (up from zł2.85 in FY 2024). Revenue: zł142.2m (up 1.2% from FY 2024). Net income: zł6.94m (flat on FY 2024). Profit margin: 4.9% (in line with FY 2024). Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Entertainment industry in Poland are expected to grow by 28%. Over the last 3 years on average, earnings per share has fallen by 39% per year whereas the company’s share price has fallen by 35% per year. Price Target Changed • Feb 15
Price target decreased by 7.3% to zł216 Down from zł233, the current price target is an average from 7 analysts. New target price is 56% above last closing price of zł138. Stock is down 37% over the past year. The company is forecast to post earnings per share of zł17.98 for next year compared to zł2.85 last year. New Risk • Dec 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł357.7m (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. This is currently the only risk that has been identified for the company. Aankondiging • Nov 15
11 bit studios S.A. to Report Q3, 2025 Results on Nov 20, 2025 11 bit studios S.A. announced that they will report Q3, 2025 results on Nov 20, 2025 Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: zł6.15 (vs zł0.46 in 2Q 2024) Second quarter 2025 results: EPS: zł6.15 (up from zł0.46 in 2Q 2024). Revenue: zł39.7m (up 158% from 2Q 2024). Net income: zł14.9m (up zł13.7m from 2Q 2024). Profit margin: 37% (up from 7.3% in 2Q 2024). Revenue is expected to decline by 6.1% p.a. on average during the next 3 years, while revenues in the Entertainment industry in Poland are expected to grow by 36%. 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 29% per year, which means it has not declined as severely as earnings. Aankondiging • Aug 20
11 bit studios S.A. to Report First Half, 2025 Results on Aug 28, 2025 11 bit studios S.A. announced that they will report first half, 2025 results on Aug 28, 2025 Price Target Changed • Jun 16
Price target increased by 8.0% to zł240 Up from zł222, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of zł238. Stock is down 62% over the past year. The company is forecast to post earnings per share of zł37.51 for next year compared to zł2.85 last year. Reported Earnings • May 17
First quarter 2025 earnings released: zł2.64 loss per share (vs zł0.66 loss in 1Q 2024) First quarter 2025 results: zł2.64 loss per share (further deteriorated from zł0.66 loss in 1Q 2024). Revenue: zł18.7m (up 22% from 1Q 2024). Net loss: zł6.37m (loss widened 297% from 1Q 2024). Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Entertainment industry in Poland are expected to grow by 28%. 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 25% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 17
Full year 2024 earnings released: EPS: zł2.85 (vs zł0.22 in FY 2023) Full year 2024 results: EPS: zł2.85 (up from zł0.22 in FY 2023). Revenue: zł140.6m (up 169% from FY 2023). Net income: zł6.89m (up zł6.36m from FY 2023). Profit margin: 4.9% (up from 1.0% in FY 2023). Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Entertainment industry in Poland are expected to grow by 28%. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Mar 19
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from zł140.7m to zł139.3m. EPS estimate also fell from zł10.21 per share to zł8.14 per share. Net income forecast to grow 66% next year vs 27% growth forecast for Entertainment industry in Poland. Consensus price target down from zł237 to zł226. Share price was steady at zł209 over the past week. Price Target Changed • Mar 18
Price target decreased by 7.9% to zł226 Down from zł245, the current price target is an average from 7 analysts. New target price is 7.1% above last closing price of zł211. Stock is down 59% over the past year. The company is forecast to post earnings per share of zł8.14 for next year compared to zł0.22 last year. New Risk • Mar 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.0% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). New Risk • Feb 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). New Risk • Jan 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł177, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Entertainment industry in Poland. Total loss to shareholders of 68% over the past three years. New Risk • Dec 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł362.6m (US$89.3m) 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 (14% average weekly change). High level of non-cash earnings (40% accrual ratio). Minor Risk Market cap is less than US$100m (zł362.6m market cap, or US$89.3m). Major Estimate Revision • Dec 13
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from zł165.1m to zł141.7m. EPS estimate fell from zł41.10 to zł10.21 per share. Net income forecast to grow 98% next year vs 23% growth forecast for Entertainment industry in Poland. Consensus price target down from zł315 to zł278. Share price fell 32% to zł175 over the past week. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to zł201, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Entertainment industry in Poland. Total loss to shareholders of 62% over the past three years. Price Target Changed • Dec 10
Price target decreased by 15% to zł315 Down from zł370, the current price target is an average from 7 analysts. New target price is 22% above last closing price of zł259. Stock is down 56% over the past year. The company is forecast to post earnings per share of zł41.10 for next year compared to zł0.22 last year. Major Estimate Revision • Dec 03
Consensus revenue estimates decrease by 18% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from zł210.0m to zł172.9m. EPS estimate unchanged from zł41.10 per share at last update. Entertainment industry in Poland expected to see average net income growth of 13% next year. Consensus price target reaffirmed at zł370. Share price fell 3.9% to zł248 over the past week. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: zł19.87 (vs zł1.30 loss in 3Q 2023) Third quarter 2024 results: EPS: zł19.87 (up from zł1.30 loss in 3Q 2023). Revenue: zł75.9m (up zł66.4m from 3Q 2023). Net income: zł48.0m (up zł50.7m from 3Q 2023). Profit margin: 63% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is expected to decline by 5.5% p.a. on average during the next 3 years, while revenues in the Entertainment industry in Poland are expected to grow by 11%. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. New Risk • Sep 23
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 5.3% 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. This is currently the only risk that has been identified for the company. Price Target Changed • Sep 23
Price target decreased by 9.6% to zł657 Down from zł727, the current price target is an average from 7 analysts. New target price is 22% above last closing price of zł538. Stock is down 23% over the past year. The company is forecast to post earnings per share of zł47.81 for next year compared to zł0.22 last year. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: zł0.46 (vs zł1.17 in 2Q 2023) Second quarter 2024 results: EPS: zł0.46 (down from zł1.17 in 2Q 2023). Revenue: zł15.4m (up 54% from 2Q 2023). Net income: zł1.13m (down 27% from 2Q 2023). Profit margin: 7.3% (down from 16% in 2Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Aankondiging • Jun 20
11 Bit Studios Sets Release Date of Creatures of Ava Game on Pc and Xbox for August 7, 2024 11 bit studios have set the global release date of Creatures of Ava game on PC and Xbox series X and S for August 7, 2024. The game will be available on the Game Pass subscription service for Xbox and PC on the release date. Reported Earnings • May 24
First quarter 2024 earnings released: zł0.66 loss per share (vs zł1.04 profit in 1Q 2023) First quarter 2024 results: zł0.66 loss per share (down from zł1.04 profit in 1Q 2023). Revenue: zł15.3m (up 3.8% from 1Q 2023). Net loss: zł1.61m (down 165% from profit in 1Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Aankondiging • May 14
11 bit studios S.A., Annual General Meeting, Jun 06, 2024 11 bit studios S.A., Annual General Meeting, Jun 06, 2024. Reported Earnings • Apr 22
Full year 2023 earnings released: EPS: zł0.22 (vs zł9.66 in FY 2022) Full year 2023 results: EPS: zł0.22 (down from zł9.66 in FY 2022). Revenue: zł52.4m (down 29% from FY 2022). Net income: zł525.6k (down 98% from FY 2022). Profit margin: 1.0% (down from 31% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Major Estimate Revision • Mar 08
Consensus revenue estimates decrease by 25% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from zł64.9m to zł48.9m. EPS estimate unchanged from -zł0.20 per share at last update. Entertainment industry in Poland expected to see average net income growth of 10% next year. Consensus price target down from zł711 to zł689. Share price was steady at zł569 over the past week. Reported Earnings • Nov 22
Third quarter 2023 earnings released: zł1.30 loss per share (vs zł2.05 profit in 3Q 2022) Third quarter 2023 results: zł1.30 loss per share (down from zł2.05 profit in 3Q 2022). Revenue: zł9.54m (down 31% from 3Q 2022). Net loss: zł2.66m (down 155% from profit in 3Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Aankondiging • Oct 11
11 Bit Studio Releases New Game on December 5,2023 11 bit studios has set a release date on December 5th this year for the PC version of the game "The Thaumaturge". The release of the console version of the game for the XBOX Series X/S and PlayStation 5 platforms is planned for early 2024. Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: zł1.17 (vs zł4.74 in 2Q 2022) Second quarter 2023 results: EPS: zł1.17 (down from zł4.74 in 2Q 2022). Revenue: zł9.99m (down 64% from 2Q 2022). Net income: zł1.55m (down 86% from 2Q 2022). Profit margin: 16% (down from 40% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Price Target Changed • Aug 17
Price target increased by 7.8% to zł725 Up from zł673, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of zł694. Stock is up 29% over the past year. The company is forecast to post earnings per share of zł15.28 for next year compared to zł9.66 last year. Reported Earnings • May 30
First quarter 2023 earnings released: EPS: zł1.04 (vs zł1.61 in 1Q 2022) First quarter 2023 results: EPS: zł1.04 (down from zł1.61 in 1Q 2022). Revenue: zł14.8m (down 17% from 1Q 2022). Net income: zł2.47m (down 35% from 1Q 2022). Profit margin: 17% (down from 21% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Aankondiging • May 09
11 bit studios S.A., Annual General Meeting, May 31, 2023 11 bit studios S.A., Annual General Meeting, May 31, 2023, at 11:00 Central European Standard Time. Reported Earnings • Apr 09
Full year 2022 earnings released: EPS: zł9.66 (vs zł12.17 in FY 2021) Full year 2022 results: EPS: zł9.66 (down from zł12.17 in FY 2021). Revenue: zł74.3m (up 5.9% from FY 2021). Net income: zł22.9m (down 20% from FY 2021). Profit margin: 31% (down from 41% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Price Target Changed • Mar 15
Price target increased by 8.2% to zł658 Up from zł608, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of zł668. Stock is up 31% over the past year. The company is forecast to post earnings per share of zł9.66 for next year compared to zł12.17 last year. Major Estimate Revision • Dec 14
Consensus EPS estimates increase by 75% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from zł62.3m to zł65.8m. EPS estimate increased from zł5.68 to zł9.92 per share. Net income forecast to grow 236% next year vs 10% growth forecast for Entertainment industry in Poland. Consensus price target broadly unchanged at zł597. Share price rose 3.1% to zł560 over the past week. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: zł2.05 (vs zł1.72 in 3Q 2021) Third quarter 2022 results: EPS: zł2.05 (up from zł1.72 in 3Q 2021). Revenue: zł13.8m (up 3.1% from 3Q 2021). Net income: zł4.88m (up 19% from 3Q 2021). Profit margin: 35% (up from 31% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Major Estimate Revision • Oct 29
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from zł70.5m to zł62.4m. EPS estimate unchanged from zł5.68 per share at last update. Entertainment industry in Poland expected to see average net income growth of 4.5% next year. Consensus price target of zł577 unchanged from last update. Share price was steady at zł531 over the past week. Reported Earnings • Oct 02
Second quarter 2022 earnings released: EPS: zł4.74 (vs zł4.09 in 2Q 2021) Second quarter 2022 results: EPS: zł4.74 (up from zł4.09 in 2Q 2021). Revenue: zł28.0m (up 34% from 2Q 2021). Net income: zł11.3m (up 16% from 2Q 2021). Profit margin: 40% (down from 47% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Entertainment industry in Poland. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Aug 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from zł49.2m to zł55.2m. EPS estimate fell from zł6.61 to zł5.68. Net income forecast to grow 48% next year vs 0.9% decline forecast for Entertainment industry in Poland. Consensus price target broadly unchanged at zł585. Share price was steady at zł483 over the past week. Buying Opportunity • Jun 10
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be zł635, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 3.9%. Revenue is forecast to grow by 5.9% in a year. Earnings is forecast to grow by 34% in the next year. Reported Earnings • May 31
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: zł1.61 (up from zł1.54 in 1Q 2021). Revenue: zł17.8m (up 20% from 1Q 2021). Net income: zł3.77m (up 6.0% from 1Q 2021). Profit margin: 21% (down from 24% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 5.9%, compared to a 2.1% growth forecast for the industry in Poland. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Buying Opportunity • May 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be zł631, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has declined by 6.0%. Revenue is forecast to grow by 182% in 2 years. Earnings is forecast to grow by 302% in the next 2 years. Price Target Changed • Apr 27
Price target increased to zł617 Up from zł560, the current price target is an average from 3 analysts. New target price is 19% above last closing price of zł520. Stock is down 3.5% over the past year. The company is forecast to post earnings per share of zł3.29 for next year compared to zł12.17 last year. Reported Earnings • Mar 29
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: zł12.13 (down from zł16.13 in FY 2020). Revenue: zł70.1m (down 20% from FY 2020). Net income: zł28.7m (down 23% from FY 2020). Profit margin: 41% (down from 43% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 1.3%. Over the next year, revenue is expected to shrink by 28% compared to a 27% decline forecast for the industry in Poland. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Price Target Changed • Mar 24
Price target increased to zł617 Up from zł560, the current price target is an average from 2 analysts. New target price is 8.7% above last closing price of zł568. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of zł9.60 for next year compared to zł16.13 last year. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 15% share price gain to zł516, the stock trades at a forward P/E ratio of 94x. Average forward P/E is 18x in the Entertainment industry in Poland. Total returns to shareholders of 94% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł331 per share. Reported Earnings • Nov 20
Third quarter 2021 earnings released: EPS zł1.72 (vs zł3.02 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł13.6m (down 25% from 3Q 2020). Net income: zł4.09m (down 43% from 3Q 2020). Profit margin: 30% (down from 40% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Recent Insider Transactions • Sep 04
Member of Management Board recently sold zł3.2m worth of stock On the 2nd of September, Grzegorz Miechowski sold around 7k shares on-market at roughly zł450 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS zł4.09 (vs zł3.71 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: zł21.0m (up 6.7% from 2Q 2020). Net income: zł9.75m (down 7.2% from 2Q 2020). Profit margin: 47% (down from 54% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Major Estimate Revision • Jun 18
Consensus revenue estimates increase to zł57.4m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from zł49.0m to zł57.4m. EPS estimate increased from zł6.74 to zł7.78 per share. Net income forecast to shrink 41% next year vs 25% decline forecast for Entertainment industry in Poland. Consensus price target down from zł575 to zł560. Share price fell 4.3% to zł470 over the past week. Reported Earnings • May 04
Full year 2020 earnings released: EPS zł16.13 (vs zł9.49 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł87.4m (up 23% from FY 2019). Net income: zł37.4m (up 72% from FY 2019). Profit margin: 43% (up from 31% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 16
Price target increased to zł549 Up from zł477, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of zł545. Stock is up 53% over the past year. Is New 90 Day High Low • Feb 25
New 90-day high: zł587 The company is up 22% from its price of zł483 on 27 November 2020. The Polish market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is zł217 per share. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 15% share price gain to zł560, the stock is trading at a trailing P/E ratio of 28.5x, up from the previous P/E ratio of 24.7x. This compares to an average P/E of 38x in the Entertainment industry in Poland. Total returns to shareholders over the past three years are 165%. Is New 90 Day High Low • Feb 08
New 90-day high: zł506 The company is up 4.0% from its price of zł489 on 10 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 Entertainment industry, which is down 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is zł219 per share. Is New 90 Day High Low • Dec 16
New 90-day low: zł454 The company is down 6.0% from its price of zł483 on 16 September 2020. The Polish market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Entertainment industry, which is down 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is zł725 per share. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS zł3.02 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł18.0m (down 3.7% from 3Q 2019). Net income: zł7.11m (up zł6.02m from 3Q 2019). Profit margin: 40% (up from 5.8% 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 40% per year and the company’s share price has also increased by 40% per year. Price Target Changed • Nov 11
Price target raised to zł513 Up from zł474, the current price target is an average from 5 analysts. The new target price is close to the current share price of zł489. As of last close, the stock is up 42% over the past year.