Upcoming Dividend • Jun 02
Upcoming dividend of zł0.04 per share Eligible shareholders must have bought the stock before 09 June 2026. Payment date: 30 July 2026. Trailing yield: 5.8%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (9.2%). New Risk • Mar 30
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. High level of non-cash earnings (102% accrual ratio). Minor Risk Market cap is less than US$100m (zł77.2m market cap, or US$20.7m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: zł0.007 (vs zł0.01 in 3Q 2023) Third quarter 2024 results: EPS: zł0.007 (down from zł0.01 in 3Q 2023). Revenue: zł4.81m (down 58% from 3Q 2023). Net income: zł844.0k (down 26% from 3Q 2023). Profit margin: 18% (up from 9.9% in 3Q 2023). The increase in margin was driven by lower expenses. Announcement • Nov 13
Termo-Rex S.A. to Report Q3, 2025 Results on Nov 14, 2025 Termo-Rex S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Announcement • Aug 21
Termo-Rex S.A. to Report First Half, 2025 Results on Sep 15, 2025 Termo-Rex S.A. announced that they will report first half, 2025 results on Sep 15, 2025 New Risk • Apr 25
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2023. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported December 2023 fiscal period end). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (zł78.3m market cap, or US$20.8m). New Risk • Nov 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. 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: Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (zł80.6m market cap, or US$20.0m). Announcement • Jul 01
Termo-Rex S.A., Annual General Meeting, Jul 25, 2024 Termo-Rex S.A., Annual General Meeting, Jul 25, 2024. New Risk • Jun 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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 (zł80.6m market cap, or US$19.9m). New Risk • Jun 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. 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: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (zł81.2m market cap, or US$20.1m). Announcement • Jan 04
Erbud S.A. (WSE:ERB) acquired CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR). Erbud S.A. (WSE:ERB) acquired CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR) on January 3, 2024. Upon completion, CKTiS has employed 130 people.
Erbud S.A. (WSE:ERB) completed the acquisition of CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR) on January 3, 2024. New Risk • Oct 01
New major risk - Revenue and earnings growth Revenue has declined by 35% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue has declined by 35% over the past year. Minor Risk Market cap is less than US$100m (zł95.9m market cap, or US$22.0m). Announcement • Aug 26
Termo-Rex S.A., Annual General Meeting, Sep 22, 2023 Termo-Rex S.A., Annual General Meeting, Sep 22, 2023, at 11:00 Central European Standard Time. New Risk • Jul 16
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 12% 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Market cap is less than US$100m (zł90.2m market cap, or US$22.7m). Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: zł0.008 (vs zł0.009 loss in 3Q 2021) Third quarter 2022 results: EPS: zł0.008 (up from zł0.009 loss in 3Q 2021). Revenue: zł12.8m (up 65% from 3Q 2021). Net income: zł878.0k (up zł1.88m from 3Q 2021). Profit margin: 6.9% (up from net loss in 3Q 2021). 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 9% per year, which means it has not declined as severely as earnings. Announcement • Jul 26
Termo-Rex S.A., Annual General Meeting, Aug 18, 2022 Termo-Rex S.A., Annual General Meeting, Aug 18, 2022, at 11:00 Central European Standard Time. Reported Earnings • Sep 28
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł25.0m (up 141% from 2Q 2020). Net income: zł3.54m (up zł3.11m from 2Q 2020). Profit margin: 14% (up from 4.1% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 28
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: zł54.3m (down 15% from FY 2019). Net income: zł1.72m (down 55% from FY 2019). Profit margin: 3.2% (down from 5.9% in FY 2019). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 10
New 90-day high: zł1.38 The company is up 2.0% from its price of zł1.35 on 12 October 2020. The Polish market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 25% over the same period. Reported Earnings • Nov 24
Third quarter 2020 earnings released: EPS zł0.015 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł17.7m (down 11% from 3Q 2019). Net income: zł1.73m (up 98% from 3Q 2019). Profit margin: 9.8% (up from 4.4% 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 19% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 10
New 90-day high: zł1.50 The company is up 100% from its price of zł0.75 on 10 July 2020. The Polish market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 14% over the same period. Is New 90 Day High Low • Sep 23
New 90-day high: zł1.11 The company is up 32% from its price of zł0.84 on 25 June 2020. The Polish market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 11% over the same period.