Price Target Changed • Jun 08
Price target increased by 11% to zł5,083 Up from zł4,586, the current price target is an average from 6 analysts. New target price is 11% above last closing price of zł4,600. Stock is up 47% over the past year. The company is forecast to post earnings per share of zł263 for next year compared to zł180 last year. Announcement • May 18
Benefit Systems S.A., Annual General Meeting, Jun 10, 2026 Benefit Systems S.A., Annual General Meeting, Jun 10, 2026, at 11:00 Central European Standard Time. Reported Earnings • May 18
First quarter 2026 earnings released: EPS: zł69.68 (vs zł18.99 in 1Q 2025) First quarter 2026 results: EPS: zł69.68 (up from zł18.99 in 1Q 2025). Revenue: zł1.38b (up 45% from 1Q 2025). Net income: zł229.6m (up 305% from 1Q 2025). Profit margin: 17% (up from 6.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 14
Benefit Systems S.A. announces Annual dividend, payable on September 25, 2026 Benefit Systems S.A. announced Annual dividend of PLN 100.0000 per share payable on September 25, 2026, ex-date on September 04, 2026 and record date on September 07, 2026. Reported Earnings • Mar 25
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: zł180 (up from zł152 in FY 2024). Revenue: zł4.52b (up 33% from FY 2024). Net income: zł570.9m (up 27% from FY 2024). Profit margin: 13% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.0%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 04
Price target increased by 10.0% to zł4,378 Up from zł3,982, the current price target is an average from 5 analysts. New target price is 12% above last closing price of zł3,905. Stock is up 35% over the past year. The company is forecast to post earnings per share of zł198 for next year compared to zł152 last year. Announcement • Jan 30
Benefit Systems S.A. to Report Fiscal Year 2025 Results on Mar 20, 2026 Benefit Systems S.A. announced that they will report fiscal year 2025 results on Mar 20, 2026 Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: zł64.69 (vs zł45.33 in 3Q 2024) Third quarter 2025 results: EPS: zł64.69 (up from zł45.33 in 3Q 2024). Revenue: zł1.18b (up 42% from 3Q 2024). Net income: zł211.9m (up 58% from 3Q 2024). Profit margin: 18% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: zł46.43 (vs zł36.86 in 2Q 2024) Second quarter 2025 results: EPS: zł46.43 (up from zł36.86 in 2Q 2024). Revenue: zł1.09b (up 30% from 2Q 2024). Net income: zł142.9m (up 31% from 2Q 2024). Profit margin: 13% (in line with 2Q 2024). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 28
First quarter 2025 earnings released: EPS: zł18.98 (vs zł31.21 in 1Q 2024) First quarter 2025 results: EPS: zł18.98 (down from zł31.21 in 1Q 2024). Revenue: zł952.0m (up 19% from 1Q 2024). Net income: zł56.7m (down 38% from 1Q 2024). Profit margin: 6.0% (down from 12% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 23
Benefit Systems S.A., Annual General Meeting, Jun 17, 2025 Benefit Systems S.A., Annual General Meeting, Jun 17, 2025. Reported Earnings • Apr 09
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: zł152 (up from zł150 in FY 2023). Revenue: zł3.40b (up 23% from FY 2023). Net income: zł449.6m (up 2.3% from FY 2023). Profit margin: 13% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.7%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: zł45.30 (vs zł39.33 in 3Q 2023) Third quarter 2024 results: EPS: zł45.30 (up from zł39.33 in 3Q 2023). Revenue: zł835.9m (up 21% from 3Q 2023). Net income: zł134.0m (up 16% from 3Q 2023). Profit margin: 16% (in line with 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 06
Upcoming dividend of zł135 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 25 November 2024. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Polish dividend payers (7.8%). In line with average of industry peers (4.8%). Announcement • Aug 22
Benefit Systems S.A. Provides Earnings Guidance for the Full Year 2024 Benefit Systems S.A. provided earnings guidance for the full year 2024. For the year, the company expects a year-on-year increase in operating profitability (excluding incentive programme costs). Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: zł36.82 (vs zł44.13 in 2Q 2023) Second quarter 2024 results: EPS: zł36.82 (down from zł44.13 in 2Q 2023). Revenue: zł844.8m (up 21% from 2Q 2023). Net income: zł108.9m (down 16% from 2Q 2023). Profit margin: 13% (down from 19% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Announcement • Aug 15
Benefit Systems S.A. (WSE:BFT) agreed to acquire ARTIS Welness Club. Benefit Systems S.A. (WSE:BFT) agreed to acquire ARTIS Welness Club on August 14, 2024. The transaction is subject to approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by acquirer board and approval of offer by target shareholders. Announcement • May 31
Benefit Systems S.A., Annual General Meeting, Jun 28, 2024 Benefit Systems S.A., Annual General Meeting, Jun 28, 2024, at 11:00 Central European Standard Time. Declared Dividend • May 30
Dividend of zł135 announced Shareholders will receive a dividend of zł135. Ex-date: 13th September 2024 Payment date: 25th November 2024 Dividend yield will be 4.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: zł31.20 (vs zł17.85 in 1Q 2023) First quarter 2024 results: EPS: zł31.20 (up from zł17.85 in 1Q 2023). Revenue: zł801.1m (up 28% from 1Q 2023). Net income: zł92.1m (up 76% from 1Q 2023). Profit margin: 12% (up from 8.4% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Announcement • May 01
Benefit Systems S.A. to Report First Half, 2024 Results on Aug 21, 2024 Benefit Systems S.A. announced that they will report first half, 2024 results on Aug 21, 2024 Price Target Changed • Apr 28
Price target increased by 14% to zł3,125 Up from zł2,750, the current price target is an average from 4 analysts. New target price is 14% above last closing price of zł2,730. Stock is up 132% over the past year. The company is forecast to post earnings per share of zł155 for next year compared to zł150 last year. Major Estimate Revision • Apr 16
Consensus EPS estimates increase by 27% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from zł135 to zł171. Revenue forecast steady at zł3.40b. Net income forecast to grow 7.7% next year vs 21% growth forecast for Professional Services industry in Poland. Consensus price target up from zł2,750 to zł2,925. Share price was steady at zł2,780 over the past week. Reported Earnings • Mar 24
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: zł149 (up from zł47.08 in FY 2022). Revenue: zł2.77b (up 45% from FY 2022). Net income: zł439.6m (up 218% from FY 2022). Profit margin: 16% (up from 7.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 21
Price target increased by 11% to zł2,646 Up from zł2,375, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of zł2,670. Stock is up 129% over the past year. The company is forecast to post earnings per share of zł138 for next year compared to zł47.08 last year. Announcement • Jan 12
Benefit Systems S.A. to Report Fiscal Year 2023 Results on Apr 30, 2024 Benefit Systems S.A. announced that they will report fiscal year 2023 results on Apr 30, 2024 Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: zł39.32 (vs zł11.73 in 3Q 2022) Third quarter 2023 results: EPS: zł39.32 (up from zł11.73 in 3Q 2022). Revenue: zł693.9m (up 43% from 3Q 2022). Net income: zł115.4m (up 235% from 3Q 2022). Profit margin: 17% (up from 7.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Announcement • Oct 20
Benefit Systems Intends to Merge with Focusly Acting on the basis of Art. 504 §1 of the Polish Commercial Companies Code (hereinafter, the "CCC") in conjunction with Article 402 §2 of the CCC and Article 402 §1 of the CCC, the Management Board of Benefit Systems S.A. (WSE:BFT) with its registered seat in Warsaw (the "Issuer" or the "Company"), hereby for the first time announced the intention to merge the Issuer (as the acquiring company) with Focusly sp. z o.o. with its registered seat in Warsaw (the "Target Company"). The merger plan, agreed upon by the merging companies on 13 October 2023. In the coming weeks, the Company will convene an Extraordinary General Meeting of the Company, during which a resolution on the merger of the Issuer and the Target Company will be adopted. Upcoming Dividend • Sep 07
Upcoming dividend of zł41.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Polish dividend payers (7.7%). Lower than average of industry peers (2.7%). Announcement • Aug 24
Benefit Systems S.A. Appoints Marcin Fojudzki as Member of the Management Board, Effective from September 6, 2023 The supervisory board of Benefit Systems passed a resolution to appoint Marcin Fojudzki as the new member of the management board of the company, effective from September 6. His experience includes senior positions related to finance at Eurocash Group, among others. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: zł44.14 (vs zł10.77 in 2Q 2022) Second quarter 2023 results: EPS: zł44.14 (up from zł10.77 in 2Q 2022). Revenue: zł697.5m (up 52% from 2Q 2022). Net income: zł129.5m (up 310% from 2Q 2022). Profit margin: 19% (up from 6.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 25
Now 23% undervalued Over the last 90 days, the stock is up 51%. The fair value is estimated to be zł2,229, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 62%. Revenue is forecast to grow by 56% in 2 years. Earnings is forecast to grow by 74% in the next 2 years. New Risk • Jun 12
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Jun 04
Benefit Systems S.A., Annual General Meeting, Jun 29, 2023 Benefit Systems S.A., Annual General Meeting, Jun 29, 2023, at 11:00 Central European Standard Time. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł1,435, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Professional Services industry in Europe. Total returns to shareholders of 89% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł1,660 per share. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: zł47.08 (vs zł8.86 loss in FY 2021) Full year 2022 results: EPS: zł47.08 (up from zł8.86 loss in FY 2021). Revenue: zł1.91b (up 100% from FY 2021). Net income: zł138.1m (up zł163.3m from FY 2021). Profit margin: 7.2% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 16% per year and the company’s share price has also increased by 16% per year. Price Target Changed • Mar 08
Price target increased by 18% to zł1,002 Up from zł849, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of zł974. Stock is up 78% over the past year. The company is forecast to post earnings per share of zł39.34 next year compared to a net loss per share of zł8.86 last year. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł974, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Professional Services industry in Europe. Total returns to shareholders of 4.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł650 per share. Price Target Changed • Nov 16
Price target decreased to zł786 Down from zł849, the current price target is an average from 3 analysts. New target price is 22% above last closing price of zł646. Stock is down 13% over the past year. The company is forecast to post earnings per share of zł32.40 next year compared to a net loss per share of zł8.86 last year. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: zł11.72 (vs zł3.55 loss in 3Q 2021) Third quarter 2022 results: EPS: zł11.72 (up from zł3.55 loss in 3Q 2021). Revenue: zł485.4m (up 63% from 3Q 2021). Net income: zł34.4m (up zł44.4m from 3Q 2021). Profit margin: 7.1% (up from net loss in 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: zł10.78 (vs zł3.70 in 2Q 2021) Second quarter 2022 results: EPS: zł10.78 (up from zł3.70 in 2Q 2021). Revenue: zł459.6m (up 155% from 2Q 2021). Net income: zł31.6m (up 208% from 2Q 2021). Profit margin: 6.9% (up from 5.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 21%, compared to a 8.2% growth forecast for the Professional Services industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 16% share price gain to zł570, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improved over the past week After last week's 17% share price gain to zł544, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł500, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 12% over the past three years.