Reported Earnings • Jun 02
First quarter 2026 earnings released First quarter 2026 results: Revenue: zł329.0m (down 24% from 1Q 2025). Net loss: zł5.46m (loss narrowed 3.0% from 1Q 2025). Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Construction industry in Poland. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • May 28
UNIBEP S.A., Annual General Meeting, Jun 23, 2026 UNIBEP S.A., Annual General Meeting, Jun 23, 2026, at 10:00 Central European Standard Time. Announcement • Apr 22
UNIBEP S.A. announces Annual dividend, payable on August 06, 2026 UNIBEP S.A. announced Annual dividend of PLN 0.4000 per share payable on August 06, 2026, ex-date on July 16, 2026 and record date on July 17, 2026. Buy Or Sell Opportunity • Apr 13
Now 23% undervalued Over the last 90 days, the stock has risen 7.9% to zł15.38. The fair value is estimated to be zł19.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 40%. Reported Earnings • Apr 06
Full year 2025 earnings released: EPS: zł1.50 (vs zł1.37 in FY 2024) Full year 2025 results: EPS: zł1.50. Revenue: zł2.36b (down 9.5% from FY 2024). Net income: zł41.2m (down 8.0% from FY 2024). Profit margin: 1.7% (in line with FY 2024). Buy Or Sell Opportunity • Feb 24
Now 20% undervalued Over the last 90 days, the stock has risen 26% to zł16.10. The fair value is estimated to be zł20.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years, while earnings per share has been flat. Reported Earnings • Nov 20
Third quarter 2025 earnings released: EPS: zł0.45 (vs zł0.21 in 3Q 2024) Third quarter 2025 results: EPS: zł0.45 (up from zł0.21 in 3Q 2024). Revenue: zł579.4m (down 13% from 3Q 2024). Net income: zł14.8m (up 117% from 3Q 2024). Profit margin: 2.6% (up from 1.0% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in Poland. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 18
Price target increased by 25% to zł15.60 Up from zł12.50, the current price target is provided by 1 analyst. New target price is 29% above last closing price of zł12.10. Stock is up 40% over the past year. The company posted earnings per share of zł1.37 last year. Announcement • Nov 13
UNIBEP S.A. to Report Q3, 2025 Results on Nov 17, 2025 UNIBEP S.A. announced that they will report Q3, 2025 results on Nov 17, 2025 Reported Earnings • Sep 11
Second quarter 2025 earnings released: EPS: zł0.17 (vs zł0.043 in 2Q 2024) Second quarter 2025 results: EPS: zł0.17 (up from zł0.043 in 2Q 2024). Revenue: zł605.7m (down 14% from 2Q 2024). Net income: zł5.98m (up 319% from 2Q 2024). Profit margin: 1.0% (up from 0.2% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in Poland. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Aug 21
UNIBEP S.A. to Report First Half, 2025 Results on Sep 08, 2025 UNIBEP S.A. announced that they will report first half, 2025 results on Sep 08, 2025 Upcoming Dividend • Jun 24
Upcoming dividend of zł0.20 per share Eligible shareholders must have bought the stock before 01 July 2025. Payment date: 18 August 2025. The company last paid an ordinary dividend in August 2014. The average dividend yield among industry peers is 4.1%. Reported Earnings • Jun 02
First quarter 2025 earnings released: zł0.17 loss per share (vs zł1.17 profit in 1Q 2024) First quarter 2025 results: zł0.17 loss per share (down from zł1.17 profit in 1Q 2024). Revenue: zł429.8m (down 5.7% from 1Q 2024). Net loss: zł5.63m (down 115% from profit in 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 12% growth forecast for the Construction industry in Poland. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • May 22
UNIBEP S.A., Annual General Meeting, Jun 18, 2025 UNIBEP S.A., Annual General Meeting, Jun 18, 2025. Announcement • Apr 24
UNIBEP S.A. announces Annual dividend, payable on August 18, 2025 UNIBEP S.A. announced Annual dividend of PLN 0.2000 per share payable on August 18, 2025, ex-date on July 01, 2025 and record date on July 02, 2025. Reported Earnings • Apr 20
Full year 2024 earnings released: EPS: zł1.37 (vs zł5.11 loss in FY 2023) Full year 2024 results: EPS: zł1.37 (up from zł5.11 loss in FY 2023). Revenue: zł2.61b (up 7.3% from FY 2023). Net income: zł44.9m (up zł210.8m from FY 2023). Profit margin: 1.7% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 13% growth forecast for the Construction industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 21
Price target increased by 7.8% to zł12.50 Up from zł11.60, the current price target is provided by 1 analyst. New target price is 40% above last closing price of zł8.90. Stock is down 8.2% over the past year. The company posted a net loss per share of zł5.11 last year. New Risk • Nov 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings have declined by 67% per year over the past 5 years. Minor Risk Market cap is less than US$100m (zł284.9m market cap, or US$69.5m). New Risk • Nov 20
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Earnings have declined by 67% per year over the past 5 years. Minor Risk Market cap is less than US$100m (zł283.6m market cap, or US$69.0m). Reported Earnings • Nov 20
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: zł666.4m (up 12% from 3Q 2023). Net income: zł6.84m (up zł33.6m from 3Q 2023). Profit margin: 1.0% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 06
Second quarter 2024 earnings released: EPS: zł0.044 (vs zł0.25 loss in 2Q 2023) Second quarter 2024 results: EPS: zł0.044 (up from zł0.25 loss in 2Q 2023). Revenue: zł703.5m (down 1.2% from 2Q 2023). Net income: zł1.43m (up zł9.40m from 2Q 2023). Profit margin: 0.2% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 04
First quarter 2024 earnings released: EPS: zł1.16 (vs zł0.13 in 1Q 2023) First quarter 2024 results: EPS: zł1.16 (up from zł0.13 in 1Q 2023). Revenue: zł455.9m (down 13% from 1Q 2023). Net income: zł38.2m (up zł34.0m from 1Q 2023). Profit margin: 8.4% (up from 0.8% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Announcement • May 31
UNIBEP S.A., Annual General Meeting, Jun 25, 2024 UNIBEP S.A., Annual General Meeting, Jun 25, 2024. Reported Earnings • Apr 21
Full year 2023 earnings released: zł5.11 loss per share (vs zł0.23 profit in FY 2022) Full year 2023 results: zł5.11 loss per share (down from zł0.23 profit in FY 2022). Revenue: zł2.43b (up 7.6% from FY 2022). Net loss: zł165.9m (down zł173.3m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jan 31
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at zł10.00. The fair value is estimated to be zł12.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Jan 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.7%. The fair value is estimated to be zł12.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company became loss making. New Risk • Dec 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% 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 Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Market cap is less than US$100m (zł291.4m market cap, or US$73.1m). Reported Earnings • Nov 17
Third quarter 2023 earnings released: zł0.82 loss per share (vs zł0.07 profit in 3Q 2022) Third quarter 2023 results: zł0.82 loss per share (down from zł0.07 profit in 3Q 2022). Revenue: zł597.7m (up 3.8% from 3Q 2022). Net loss: zł26.8m (down zł29.0m from profit in 3Q 2022). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Construction industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 12
Second quarter 2023 earnings released: zł0.27 loss per share (vs zł0.46 profit in 2Q 2022) Second quarter 2023 results: zł0.27 loss per share (down from zł0.46 profit in 2Q 2022). Revenue: zł711.9m (up 19% from 2Q 2022). Net loss: zł7.97m (down 154% from profit in 2Q 2022). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Construction industry in Poland. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 14
Upcoming dividend of zł0.22 per share at 2.2% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 21 August 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.2%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (4.9%). New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 1.4% 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 1.4% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.08% net profit margin). Market cap is less than US$100m (zł341.0m market cap, or US$83.7m). New Risk • Jun 23
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: 1.1% Last year net profit margin: 1.8% 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 Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (1.1% net profit margin). Market cap is less than US$100m (zł341.0m market cap, or US$84.3m). Announcement • May 26
UNIBEP S.A., Annual General Meeting, Jun 21, 2023 UNIBEP S.A., Annual General Meeting, Jun 21, 2023, at 11:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to zł10.60, the stock trades at a trailing P/E ratio of 9.2x. Average forward P/E is 11x in the Construction industry in Poland. Total returns to shareholders of 56% over the past three years. Reported Earnings • Nov 17
Third quarter 2022 earnings released: EPS: zł0.07 (vs zł0.21 in 3Q 2021) Third quarter 2022 results: EPS: zł0.07 (down from zł0.21 in 3Q 2021). Revenue: zł575.9m (up 47% from 3Q 2021). Net income: zł2.20m (down 66% from 3Q 2021). Profit margin: 0.4% (down from 1.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.1% growth forecast for the Construction industry in Poland. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target decreased to zł10.00 Down from zł13.20, the current price target is provided by 1 analyst. New target price is 26% above last closing price of zł7.94. Stock is down 29% over the past year. The company posted earnings per share of zł1.05 last year. Reported Earnings • Sep 03
Second quarter 2022 earnings released: EPS: zł0.46 (vs zł0.21 in 2Q 2021) Second quarter 2022 results: EPS: zł0.46 (up from zł0.21 in 2Q 2021). Revenue: zł600.3m (up 56% from 2Q 2021). Net income: zł14.9m (up 128% from 2Q 2021). Profit margin: 2.5% (up from 1.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 9.5%, compared to a 4.5% growth forecast for the Construction industry in Poland. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 15
Upcoming dividend of zł0.50 per share Eligible shareholders must have bought the stock before 22 July 2022. Payment date: 03 October 2022. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Polish dividend payers (8.5%). Lower than average of industry peers (7.8%). Announcement • May 25
UNIBEP S.A., Annual General Meeting, Jun 21, 2022 UNIBEP S.A., Annual General Meeting, Jun 21, 2022, at 11:00 Central European Standard Time. Price Target Changed • Apr 27
Price target increased to zł13.20 Up from zł8.48, the current price target is provided by 1 analyst. New target price is 52% above last closing price of zł8.66. Stock is down 18% over the past year. The company posted earnings per share of zł1.17 last year. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł9.20, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 10x in the Construction industry in Poland. Total returns to shareholders of 92% over the past three years. Buying Opportunity • Jan 20
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be zł12.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 30% per annum over the last 3 years. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS zł0.21 (vs zł0.63 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł392.8m (down 11% from 3Q 2020). Net income: zł6.40m (down 68% from 3Q 2020). Profit margin: 1.6% (down from 4.5% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 32% per year. Reported Earnings • Sep 03
Second quarter 2021 earnings released The company reported a mediocre second quarter result with flat earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł386.1m (flat on 2Q 2020). Net income: zł6.54m (flat on 2Q 2020). Profit margin: 1.7% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 16% share price gain to zł13.70, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 15x in the Construction industry in Poland. Total returns to shareholders of 176% over the past three years. Upcoming Dividend • Jun 23
Upcoming dividend of zł0.30 per share Eligible shareholders must have bought the stock before 30 June 2021. Payment date: 12 July 2021. Trailing yield: 2.3%. Lower than top quartile of Polish dividend payers (5.9%). Lower than average of industry peers (3.6%). Reported Earnings • Jun 05
First quarter 2021 earnings released: EPS zł0.32 (vs zł0.10 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: zł307.5m (down 11% from 1Q 2020). Net income: zł9.78m (up 204% from 1Q 2020). Profit margin: 3.2% (up from 0.9% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS zł1.17 (vs zł0.86 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł1.68b (up 1.2% from FY 2019). Net income: zł37.2m (up 29% from FY 2019). Profit margin: 2.2% (up from 1.7% in FY 2019). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 19% share price gain to zł12.70, the stock is trading at a trailing P/E ratio of 10.3x, up from the previous P/E ratio of 8.7x. This compares to an average P/E of 10x in the Construction industry in Poland. Total returns to shareholders over the past three years are 71%. Is New 90 Day High Low • Mar 02
New 90-day high: zł12.70 The company is up 62% from its price of zł7.84 on 02 December 2020. The Polish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 37% over the same period. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improved over the past week After last week's 18% share price gain to zł10.65, the stock is trading at a trailing P/E ratio of 8.7x, up from the previous P/E ratio of 7.3x. This compares to an average P/E of 8x in the Construction industry in Poland. Total returns to shareholders over the past three years are 38%. Announcement • Feb 02
UNIBEP S.A. to Report Q1, 2021 Results on May 31, 2021 UNIBEP S.A. announced that they will report Q1, 2021 results on May 31, 2021 Is New 90 Day High Low • Jan 29
New 90-day high: zł9.60 The company is up 39% from its price of zł6.90 on 30 October 2020. The Polish market is up 27% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 47% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: zł8.50 The company is up 13% from its price of zł7.52 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 21% over the same period. Reported Earnings • Dec 05
Third quarter 2020 earnings released: EPS zł0.63 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł441.6m (down 6.6% from 3Q 2019). Net income: zł20.0m (up 54% from 3Q 2019). Profit margin: 4.5% (up from 2.8% 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 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Dec 05
Revenue beats expectations Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is expected to shrink by 8.9% compared to a 5.9% decline forecast for the Construction industry in Poland. Is New 90 Day High Low • Oct 12
New 90-day low: zł6.96 The company is down 24% from its price of zł9.10 on 14 July 2020. The Polish market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 4.0% over the same period.