Declared Dividend • May 13
Dividend increased to zł4.06 Dividend of zł4.06 is 1.5% higher than last year. Ex-date: 1st July 2026 Payment date: 9th July 2026 Dividend yield will be 5.6%, which is lower than the industry average of 7.3%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 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. Announcement • May 11
Decora S.A., Annual General Meeting, Jun 11, 2026 Decora S.A., Annual General Meeting, Jun 11, 2026, at 12:00 Central European Standard Time. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: zł2.00 (vs zł2.07 in 3Q 2024) Third quarter 2025 results: EPS: zł2.00. Revenue: zł173.2m (up 13% from 3Q 2024). Net income: zł22.3m (up 2.5% from 3Q 2024). Profit margin: 13% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Durables industry in Poland. Announcement • Nov 11
Decora S.A. to Report Q3, 2025 Results on Nov 14, 2025 Decora S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Reported Earnings • Sep 01
Second quarter 2025 earnings released: EPS: zł1.76 (vs zł2.09 in 2Q 2024) Second quarter 2025 results: EPS: zł1.76 (down from zł2.09 in 2Q 2024). Revenue: zł155.2m (up 4.2% from 2Q 2024). Net income: zł18.6m (down 16% from 2Q 2024). Profit margin: 12% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Consumer Durables industry in Poland. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 20
Decora S.A. to Report First Half, 2025 Results on Aug 29, 2025 Decora S.A. announced that they will report first half, 2025 results on Aug 29, 2025 Upcoming Dividend • Jun 11
Upcoming dividend of zł4.00 per share Eligible shareholders must have bought the stock before 18 June 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Polish dividend payers (7.2%). Lower than average of industry peers (5.7%). Reported Earnings • May 16
First quarter 2025 earnings released: EPS: zł1.91 (vs zł2.13 in 1Q 2024) First quarter 2025 results: EPS: zł1.91 (down from zł2.13 in 1Q 2024). Revenue: zł170.4m (up 17% from 1Q 2024). Net income: zł20.1m (down 11% from 1Q 2024). Profit margin: 12% (down from 15% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 15
Decora S.A., Annual General Meeting, Jun 12, 2025 Decora S.A., Annual General Meeting, Jun 12, 2025. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł79.00, the stock trades at a trailing P/E ratio of 10x. Average forward P/E is 13x in the Consumer Durables industry in Poland. Total returns to shareholders of 182% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: zł2.07 (vs zł1.61 in 3Q 2023) Third quarter 2024 results: EPS: zł2.07 (up from zł1.61 in 3Q 2023). Revenue: zł153.1m (up 5.6% from 3Q 2023). Net income: zł21.8m (up 29% from 3Q 2023). Profit margin: 14% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Consumer Durables industry in Poland. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 28
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). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • May 15
Dividend of zł3.00 announced Shareholders will receive a dividend of zł3.00. Ex-date: 4th July 2024 Payment date: 12th July 2024 Dividend yield will be 5.0%, which is lower than the industry average of 7.3%. Sustainability & Growth The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 15
Decora S.A., Annual General Meeting, Jun 12, 2024 Decora S.A., Annual General Meeting, Jun 12, 2024. Price Target Changed • Nov 29
Price target increased by 28% to zł60.40 Up from zł47.10, the current price target is provided by 1 analyst. New target price is 13% above last closing price of zł53.40. Stock is up 70% over the past year. The company posted earnings per share of zł6.32 last year. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: zł0.88 (vs zł1.55 in 3Q 2021) Third quarter 2022 results: EPS: zł0.88 (down from zł1.55 in 3Q 2021). Revenue: zł141.7m (up 12% from 3Q 2021). Net income: zł9.29m (down 43% from 3Q 2021). Profit margin: 6.6% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 4 years, compared to a 9.9% growth forecast for the Consumer Durables industry in Poland. Upcoming Dividend • Jun 29
Upcoming dividend of zł2.00 per share at 5.0% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Polish dividend payers (7.2%). Lower than average of industry peers (10.0%). Announcement • May 26
Decora S.A., Annual General Meeting, Jun 22, 2023 Decora S.A., Annual General Meeting, Jun 22, 2023, at 11:00 Central European Standard Time. Upcoming Dividend • Jun 06
Upcoming dividend of zł2.00 per share Eligible shareholders must have bought the stock before 13 June 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 30% and the cash payout ratio is 78%. Trailing yield: 5.9%. Lower than top quartile of Polish dividend payers (8.0%). Lower than average of industry peers (8.4%). Announcement • May 12
Decora S.A., Annual General Meeting, Jun 06, 2022 Decora S.A., Annual General Meeting, Jun 06, 2022, at 11:00 Central European Standard Time. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS zł1.55 (vs zł1.80 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: zł126.4m (up 17% from 3Q 2020). Net income: zł16.4m (down 14% from 3Q 2020). Profit margin: 13% (down from 18% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 51% per year whereas the company’s share price has increased by 46% per year. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS zł1.88 (vs zł1.28 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: zł124.5m (up 58% from 2Q 2020). Net income: zł19.7m (up 47% from 2Q 2020). Profit margin: 16% (down from 17% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 03
Upcoming dividend of zł2.00 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 18 June 2021. Trailing yield: 4.8%. Lower than top quartile of Polish dividend payers (6.0%). Lower than average of industry peers (6.1%). Valuation Update With 7 Day Price Move • May 05
Investor sentiment improved over the past week After last week's 15% share price gain to zł46.00, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 13x in the Consumer Durables industry in Poland. Total returns to shareholders of 407% over the past three years. Announcement • Feb 27
Ballard Designs Furniture and Décor Retailer Launches Collaboration with Country Music Star, Walker Hayes Ballard Designs furniture and décor retailer launches a collaboration with country music star, Walker Hayes. They are combining talents on a family-friendly living room make-over at the Hayes's home in Ballard's newest hometown – Nashville. Hayes, along with his wife Laney and their six children, needed help designing an open living room space to handle music recording, six growing kids, home schooling, movie nights, and the occasional indoor family football throw. Ballard Designs' newest national retail location in Music City welcomed the opportunity to partner with the popular social media family. Recently the entire Hayes clan masked up, video camera in tow, and met with the store's on-site Design Services team. Together they picked new favorite fabrics, furniture, and accessories. Ballard design experts will oversee everything from room layout to the cleanable performance fabrics that fit the casual California vibe the Hayes's want. In addition to a big new sectional sofa, the inviting design called for his and her leather recliners, a cozy space for homework, easy-care rugs, and a few show-stopping accents. Ballard Designs funds the $25,000 remodel as part of its promotional outreach. Hayes will publish the remodeling project on Instagram later this spring. Is New 90 Day High Low • Nov 24
New 90-day high: zł33.00 The company is up 24% from its price of zł26.70 on 26 August 2020. The Polish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is down 2.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS zł1.80 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: zł108.2m (up 30% from 3Q 2019). Net income: zł18.9m (up 158% from 3Q 2019). Profit margin: 18% (up from 8.8% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 27
Market bids up stock over the past week After last week's 15% share price gain to zł32.40, the stock is trading at a trailing P/E ratio of 10.2x, up from the previous P/E ratio of 8.8x. This compares to an average P/E of 11x in the Consumer Durables industry in Poland. Total returns to shareholders over the past three years are 272%. Is New 90 Day High Low • Oct 27
New 90-day high: zł32.40 The company is up 30% from its price of zł24.90 on 29 July 2020. The Polish market is down 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 1.0% over the same period. Is New 90 Day High Low • Oct 02
New 90-day high: zł29.80 The company is up 47% from its price of zł20.30 on 03 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 Consumer Durables industry, which is up 10.0% over the same period.