Announcement • Jun 05
Abak S.A., Annual General Meeting, Jun 30, 2026 Abak S.A., Annual General Meeting, Jun 30, 2026. Declared Dividend • Jun 05
Dividend of zł0.40 announced Shareholders will receive a dividend of zł0.40. Ex-date: 8th July 2026 Payment date: 16th July 2026 Dividend yield will be 7.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 17% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Apr 21
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 7.2% 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 Market cap is less than US$10m (zł13.7m market cap, or US$3.82m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change). Revenue is less than US$5m (zł16m revenue, or US$4.5m). Announcement • Feb 10
Abak S.A. to Report Q4, 2025 Results on Feb 12, 2026 Abak S.A. announced that they will report Q4, 2025 results on Feb 12, 2026 Reported Earnings • Nov 18
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł4.02m (up 4.5% from 3Q 2024). Net income: zł255.2k (up 13% from 3Q 2024). Profit margin: 6.4% (up from 5.9% in 3Q 2024). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł7.45, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 16x in the Professional Services industry in Poland. Total returns to shareholders of 255% over the past three years. Announcement • Nov 13
Abak S.A. to Report Q3, 2025 Results on Nov 14, 2025 Abak S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to zł6.25, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 22x in the Professional Services industry in Poland. Total returns to shareholders of 172% over the past three years. Reported Earnings • Aug 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł4.23m (up 2.6% from 2Q 2024). Net income: zł373.1k (up 23% from 2Q 2024). Profit margin: 8.8% (up from 7.3% in 2Q 2024). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to zł5.45, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 13x in the Professional Services industry in Poland. Total returns to shareholders of 146% over the past three years. Upcoming Dividend • Jul 02
Upcoming dividend of zł0.27 per share Eligible shareholders must have bought the stock before 09 July 2025. Payment date: 17 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.8%. Within top quartile of Polish dividend payers (7.0%). Higher than average of industry peers (4.0%). Declared Dividend • Jun 05
Dividend reduced to zł0.27 Dividend of zł0.27 is 18% lower than last year. Ex-date: 9th July 2025 Payment date: 17th July 2025 Dividend yield will be 6.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio). However, it is covered by cash flows (53% cash payout ratio). The dividend has increased by an average of 25% per year over the past 7 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control, which is more than the 22% EPS growth achieved over the last 5 years. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł4.00, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 22x in the Professional Services industry in Poland. Total returns to shareholders of 59% over the past three years. Reported Earnings • Feb 20
Full year 2024 earnings released Full year 2024 results: Revenue: zł15.6m (up 6.8% from FY 2023). Net income: zł793.4k (down 16% from FY 2023). Profit margin: 5.1% (down from 6.4% in FY 2023). Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł3.66, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 16x in the Professional Services industry in Poland. Total returns to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł3.00, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 13x in the Professional Services industry in Poland. Total returns to shareholders of 55% over the past three years. New Risk • Aug 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% 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: Major Risk Market cap is less than US$10m (zł11.6m market cap, or US$2.93m). Minor Risks Dividend is not well covered by earnings (92% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.9% net profit margin). Revenue is less than US$5m (zł15m revenue, or US$3.9m). Reported Earnings • Aug 10
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł4.12m (up 6.5% from 2Q 2023). Net income: zł302.6k (down 38% from 2Q 2023). Profit margin: 7.3% (down from 13% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 05
Upcoming dividend of zł0.33 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 24 July 2024. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 6.9%. Lower than top quartile of Polish dividend payers (7.6%). Higher than average of industry peers (2.8%). Announcement • Jun 05
Abak S.A., Annual General Meeting, Jun 28, 2024 Abak S.A., Annual General Meeting, Jun 28, 2024. Declared Dividend • Jun 03
Dividend of zł0.33 announced Shareholders will receive a dividend of zł0.33. Ex-date: 11th July 2024 Payment date: 24th July 2024 Dividend yield will be 7.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 27% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 19
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł3.80m (up 16% from 1Q 2023). Net income: zł247.0k (up 1.8% from 1Q 2023). Profit margin: 6.5% (down from 7.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł4.80, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 15x in the Professional Services industry in Poland. Total returns to shareholders of 88% over the past three years. Reported Earnings • Feb 10
Full year 2023 earnings released: EPS: zł0.36 (vs zł0.40 in FY 2022) Full year 2023 results: EPS: zł0.36 (down from zł0.40 in FY 2022). Revenue: zł14.5m (up 15% from FY 2022). Net income: zł964.8k (down 10% from FY 2022). Profit margin: 6.6% (down from 8.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 26% per year. Reported Earnings • Nov 16
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł3.66m (up 15% from 3Q 2022). Net income: zł147.3k (down 49% from 3Q 2022). Profit margin: 4.0% (down from 9.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 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 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). Market cap is less than US$10m (zł16.2m market cap, or US$3.94m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (zł14m revenue, or US$3.3m). Reported Earnings • Aug 13
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł3.87m (up 21% from 2Q 2022). Net income: zł488.9k (up 63% from 2Q 2022). Profit margin: 13% (up from 9.4% in 2Q 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • Jul 13
Upcoming dividend of zł0.30 per share at 6.7% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 02 August 2023. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 6.7%. Lower than top quartile of Polish dividend payers (7.1%). Higher than average of industry peers (3.0%). Announcement • Jun 04
Abak S.A., Annual General Meeting, Jun 29, 2023 Abak S.A., Annual General Meeting, Jun 29, 2023, at 12:00 Central European Standard Time. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł4.35, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 26x in the Professional Services industry in Poland. Total returns to shareholders of 216% over the past three years. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: zł0.41 (vs zł0.24 in FY 2021) Full year 2022 results: EPS: zł0.41 (up from zł0.24 in FY 2021). Revenue: zł12.7m (up 13% from FY 2021). Net income: zł1.10m (up 67% from FY 2021). Profit margin: 8.7% (up from 5.8% in FY 2021). 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 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 17% share price gain to zł3.00, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 25x in the Professional Services industry in Poland. Total returns to shareholders of 106% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 15% share price gain to zł3.00, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 27x in the Professional Services industry in Poland. Total returns to shareholders of 96% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł3.19m (up 12% from 2Q 2021). Net income: zł300.1k (up 43% from 2Q 2021). Profit margin: 9.4% (up from 7.3% in 2Q 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Jul 14
Upcoming dividend of zł0.10 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 02 August 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Polish dividend payers (8.5%). Lower than average of industry peers (6.5%). Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 39% share price gain to zł3.90, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 24x in the Professional Services industry in Poland. Total returns to shareholders of 117% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorated over the past week After last week's 23% share price decline to zł3.64, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 25x in the Professional Services industry in Poland. Total loss to shareholders of 18% over the past three years. Buying Opportunity • Feb 21
Now 28% undervalued Over the last 90 days, the stock is up 73%. The fair value is estimated to be zł5.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% per annum over the last 3 years. Earnings per share has grown by 24% per annum over the last 3 years. Reported Earnings • Feb 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: zł0.25 (down from zł0.31 in FY 2020). Revenue: zł11.3m (flat on FY 2020). Net income: zł672.4k (down 18% from FY 2020). Profit margin: 6.0% (down from 7.4% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improved over the past week After last week's 36% share price gain to zł3.12, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 25x in the Professional Services industry in Poland. Total returns to shareholders of 104% over the past three years. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 20% share price gain to zł2.88, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 26x in the Professional Services industry in Poland. Total returns to shareholders of 5.7% over the past year. Upcoming Dividend • Jul 15
Upcoming dividend of zł0.08 per share Eligible shareholders must have bought the stock before 21 July 2021. Payment date: 02 August 2021. Trailing yield: 2.8%. Lower than top quartile of Polish dividend payers (5.7%). Higher than average of industry peers (2.1%). Announcement • Jun 01
Abak S.A. Approves Dividend, Payable on August 2, 2021 Abak S.A. approved dividend of PLN 0.08 per share. Rights date is July 22, 2021. The dividend will be payable on August 2, 2021. Is New 90 Day High Low • Feb 26
New 90-day high: zł3.34 The company is up 81% from its price of zł1.85 on 25 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 Professional Services industry, which is up 25% over the same period. Reported Earnings • Feb 17
Full year 2020 earnings released: EPS zł0.30 (vs zł0.089 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł11.2m (up 17% from FY 2019). Net income: zł817.4k (up 241% from FY 2019). Profit margin: 7.3% (up from 2.5% 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 4% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 25% share price gain to zł2.50, the stock is trading at a trailing P/E ratio of 10.4x, up from the previous P/E ratio of 8.3x. This compares to an average P/E of 11x in the Professional Services industry in Poland. Total returns to shareholders over the past three years are 75%. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 26% share price gain to zł2.20, the stock is trading at a trailing P/E ratio of 9.1x, up from the previous P/E ratio of 7.2x. This compares to an average P/E of 8x in the Professional Services industry in Poland. Total returns to shareholders over the past three years are 41%. Valuation Update With 7 Day Price Move • Nov 24
Market pulls back on stock over the past week After last week's 16% share price decline to zł1.85, the stock is trading at a trailing P/E ratio of 7.7x, down from the previous P/E ratio of 9.1x. This compares to an average P/E of 14x in the Professional Services industry in Poland. Total returns to shareholders over the past year are 17%. Valuation Update With 7 Day Price Move • Nov 13
Market bids up stock over the past week After last week's 18% share price gain to zł2.20, the stock is trading at a trailing P/E ratio of 12.3x, up from the previous P/E ratio of 10.4x. This compares to an average P/E of 16x in the Professional Services industry in Poland. Total returns to shareholders over the past year are 39%.