Aankondiging • Jun 09
Platige Image S.A., Annual General Meeting, Jun 30, 2026 Platige Image S.A., Annual General Meeting, Jun 30, 2026. New Risk • Jun 07
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 78% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 51% per year over the past 5 years. Market cap is less than US$10m (zł24.0m market cap, or US$6.52m). Minor Risks High level of debt (78% net debt to equity). Share price has been volatile over the past 3 months (11% average weekly change). New Risk • May 28
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 11% 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 (11% average weekly change). Earnings have declined by 58% per year over the past 5 years. Market cap is less than US$10m (zł24.0m market cap, or US$6.62m). New Risk • Feb 03
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 Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 45% per year over the past 5 years. Market cap is less than US$10m (zł29.9m market cap, or US$8.37m). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). New Risk • Nov 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł36.6m (US$9.97m) 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 Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 45% per year over the past 5 years. Market cap is less than US$10m (zł36.6m market cap, or US$9.97m). Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). Aankondiging • Nov 10
Platige Image S.A. to Report Q3, 2025 Results on Nov 12, 2025 Platige Image S.A. announced that they will report Q3, 2025 results on Nov 12, 2025 Reported Earnings • Aug 12
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł37.3m (up 24% from 2Q 2024). Net loss: zł1.79m (loss widened 81% from 2Q 2024). Aankondiging • May 19
Platige Image S.A., Annual General Meeting, Jun 12, 2025 Platige Image S.A., Annual General Meeting, Jun 12, 2025. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł25.7m (down 22% from 1Q 2024). Net loss: zł1.39m (loss narrowed 68% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. New Risk • Mar 27
New major risk - Revenue and earnings growth Earnings have declined by 27% 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 Risk Earnings have declined by 27% per year over the past 5 years. Minor Risks High level of debt (52% net debt to equity). Dividend is not well covered by cash flows (136% cash payout ratio). Market cap is less than US$100m (zł47.9m market cap, or US$12.3m). New Risk • Feb 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (zł48.2m market cap, or US$12.1m). Buy Or Sell Opportunity • Dec 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.6% to zł13.45. The fair value is estimated to be zł16.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. New Risk • Nov 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł39.4m (US$9.59m) 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (zł39.4m market cap, or US$9.59m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change). Buy Or Sell Opportunity • Nov 05
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to zł12.50. The fair value is estimated to be zł17.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 17
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to zł13.70. The fair value is estimated to be zł17.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Sep 27
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 39% to zł13.75. The fair value is estimated to be zł17.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. New Risk • Sep 25
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 6.6% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (zł53.4m market cap, or US$14.0m). Reported Earnings • Aug 11
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł30.1m (down 25% from 2Q 2023). Net loss: zł984.0k (down 125% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Jul 27
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 6.5% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (zł64.5m market cap, or US$16.4m). Buy Or Sell Opportunity • Jul 15
Now 20% overvalued Over the last 90 days, the stock has fallen 9.8% to zł19.30. The fair value is estimated to be zł16.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 28
Now 20% overvalued Over the last 90 days, the stock has fallen 19% to zł19.50. The fair value is estimated to be zł16.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 19
First quarter 2024 earnings released: zł1.23 loss per share (vs zł0.42 loss in 1Q 2023) First quarter 2024 results: zł1.23 loss per share (further deteriorated from zł0.42 loss in 1Q 2023). Revenue: zł32.8m (up 1.6% from 1Q 2023). Net loss: zł4.35m (loss widened 196% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 14% per year. Aankondiging • Apr 27
Platige Image S.A., Annual General Meeting, May 21, 2024 Platige Image S.A., Annual General Meeting, May 21, 2024, at 10:00 Central European Standard Time. New Risk • Mar 12
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 6.9% 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 Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (zł78.9m market cap, or US$20.1m). New Risk • Nov 16
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: 3.2% Last year net profit margin: 6.6% 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: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (zł92.8m market cap, or US$22.9m). Reported Earnings • Aug 11
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł40.1m (up 22% from 2Q 2022). Net income: zł3.87m (up 51% from 2Q 2022). Profit margin: 9.6% (up from 7.8% in 2Q 2022). The increase in margin was driven by higher revenue. New Risk • Jul 09
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: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Market cap is less than US$100m (zł96.8m market cap, or US$23.8m). Upcoming Dividend • May 25
Upcoming dividend of zł1.15 per share at 4.1% yield Eligible shareholders must have bought the stock before 01 June 2023. Payment date: 12 June 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Polish dividend payers (7.5%). Higher than average of industry peers (2.3%). Reported Earnings • May 15
First quarter 2023 earnings released First quarter 2023 results: Revenue: zł32.3m (down 1.4% from 1Q 2022). Net loss: zł1.47m (loss widened zł1.36m from 1Q 2022). Reported Earnings • Mar 16
Full year 2022 earnings released Full year 2022 results: Revenue: zł138.0m (up 30% from FY 2021). Net income: zł7.54m (up 8.8% from FY 2021). Profit margin: 5.5% (down from 6.5% in FY 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 15
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł32.9m (up 25% from 2Q 2021). Net income: zł2.56m (up 121% from 2Q 2021). Profit margin: 7.8% (up from 4.4% in 2Q 2021). Reported Earnings • May 16
First quarter 2022 earnings released: zł0.03 loss per share (vs zł0.05 profit in 1Q 2021) First quarter 2022 results: zł0.03 loss per share (down from zł0.05 profit in 1Q 2021). Revenue: zł32.7m (up 62% from 1Q 2021). Net loss: zł104.0k (down 168% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to zł27.90, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 16x in the Entertainment industry in Poland. Total returns to shareholders of 81% over the past three years. Is New 90 Day High Low • Feb 10
New 90-day high: zł33.20 The company is up 44% from its price of zł23.00 on 12 November 2020. The Polish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 18% over the same period. Is New 90 Day High Low • Jan 22
New 90-day high: zł30.00 The company is up 22% from its price of zł24.50 on 23 October 2020. The Polish market is up 16% 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. Is New 90 Day High Low • Dec 11
New 90-day high: zł29.90 The company is up 11% from its price of zł26.90 on 11 September 2020. The Polish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is down 12% over the same period. Is New 90 Day High Low • Nov 17
New 90-day low: zł22.30 The company is down 20% from its price of zł27.90 on 19 August 2020. The Polish market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 10.0% over the same period. Is New 90 Day High Low • Oct 16
New 90-day low: zł23.40 The company is down 17% from its price of zł28.20 on 17 July 2020. The Polish market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 3.0% over the same period.