Announcement • Apr 30
NEUCA S.A., Annual General Meeting, May 26, 2026 NEUCA S.A., Annual General Meeting, May 26, 2026, at 10:00 Central European Standard Time. Reported Earnings • Mar 27
Full year 2025 earnings released: EPS: zł34.28 (vs zł34.54 in FY 2024) Full year 2025 results: EPS: zł34.28. Revenue: zł13.6b (up 8.2% from FY 2024). Net income: zł155.6m (flat on FY 2024). Profit margin: 1.1% (down from 1.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Healthcare industry in Europe. New Risk • Dec 01
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 48% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 21
Third quarter 2025 earnings released: EPS: zł13.26 (vs zł9.36 in 3Q 2024) Third quarter 2025 results: EPS: zł13.26 (up from zł9.36 in 3Q 2024). Revenue: zł3.49b (up 9.5% from 3Q 2024). Net income: zł60.2m (up 44% from 3Q 2024). Profit margin: 1.7% (up from 1.3% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Announcement • Nov 15
NEUCA S.A. to Report Q3, 2025 Results on Nov 20, 2025 NEUCA S.A. announced that they will report Q3, 2025 results on Nov 20, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: zł4.36 (vs zł6.85 in 2Q 2024) Second quarter 2025 results: EPS: zł4.36 (down from zł6.85 in 2Q 2024). Revenue: zł3.27b (up 7.4% from 2Q 2024). Net income: zł19.8m (down 35% from 2Q 2024). Profit margin: 0.6% (down from 1.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 3% per year. Announcement • Aug 20
NEUCA S.A. to Report First Half, 2025 Results on Aug 28, 2025 NEUCA S.A. announced that they will report first half, 2025 results on Aug 28, 2025 New Risk • Jul 17
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Dividend per share is over 6x cash flows per share. Dividend yield: 2.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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. Upcoming Dividend • Jul 08
Upcoming dividend of zł16.00 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 28 July 2025. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Polish dividend payers (7.1%). In line with average of industry peers (2.3%). Reported Earnings • May 23
First quarter 2025 earnings released: EPS: zł10.66 (vs zł12.71 in 1Q 2024) First quarter 2025 results: EPS: zł10.66 (down from zł12.71 in 1Q 2024). Revenue: zł3.37b (up 6.4% from 1Q 2024). Net income: zł48.4m (down 14% from 1Q 2024). Profit margin: 1.4% (down from 1.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Announcement • May 21
NEUCA S.A., Annual General Meeting, Jun 17, 2025 NEUCA S.A., Annual General Meeting, Jun 17, 2025. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: zł34.54 (vs zł33.30 in FY 2023) Full year 2024 results: EPS: zł34.54 (up from zł33.30 in FY 2023). Revenue: zł12.6b (up 6.8% from FY 2023). Net income: zł154.2m (up 5.5% from FY 2023). Profit margin: 1.2% (in line with FY 2023). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł900, the stock trades at a trailing P/E ratio of 24.9x. Average forward P/E is 15x in the Healthcare industry in Poland. Total returns to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł1,414 per share. Price Target Changed • Nov 29
Price target decreased by 7.8% to zł901 Down from zł978, the current price target is an average from 3 analysts. New target price is 16% above last closing price of zł780. Stock is down 6.3% over the past year. The company posted earnings per share of zł33.30 last year. Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: zł9.36 (vs zł10.28 in 3Q 2023) Third quarter 2024 results: EPS: zł9.36 (down from zł10.28 in 3Q 2023). Revenue: zł3.19b (up 7.3% from 3Q 2023). Net income: zł41.9m (down 7.1% from 3Q 2023). Profit margin: 1.3% (down from 1.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 2% per year. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: zł6.85 (vs zł4.77 in 2Q 2023) Second quarter 2024 results: EPS: zł6.85 (up from zł4.77 in 2Q 2023). Revenue: zł3.04b (up 5.3% from 2Q 2023). Net income: zł30.6m (up 46% from 2Q 2023). Profit margin: 1.0% (up from 0.7% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. New Risk • Jul 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.6% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jun 15
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at zł892. The fair value is estimated to be zł1,132, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has declined by 3.6%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 67% in the next 2 years. Upcoming Dividend • Jun 05
Upcoming dividend of zł14.50 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 25 June 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Polish dividend payers (7.8%). Lower than average of industry peers (2.1%). Reported Earnings • May 26
First quarter 2024 earnings released: EPS: zł12.71 (vs zł10.78 in 1Q 2023) First quarter 2024 results: EPS: zł12.71 (up from zł10.78 in 1Q 2023). Revenue: zł3.16b (up 5.3% from 1Q 2023). Net income: zł56.4m (up 19% from 1Q 2023). Profit margin: 1.8% (up from 1.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • May 25
NEUCA S.A. (WSE:NEU) announces an Equity Buyback for 120,000 shares, for PLN 120 million. NEUCA S.A. (WSE:NEU) announces a share repurchase program. Under the program, the company will repurchase up to 120,000 shares, for a total of PLN 120 million. The minimum price which may be paid for an ordinary share is PLN 1 per share. The maximum price which may be paid for an ordinary share is PLN 1,000 per share. The purpose of the share purchase program is to redeem the purchased shares and reduce the share capital of the company and/or sell them to authorized employees/collaborators of the company in order to implement incentive program. The program is valid till December 31, 2026. Announcement • May 18
Neuca S.A. Announces Dividend, Payable on June 25, 2024 Neuca's shareholders have decided that the company will pay a dividend of PLN 14.5 (EUR 3.4) per share, the company said in resolutions following the ordinary general meeting. The dividend date was set for June 13 and the dividend payment for June 25, 2024. In 2023, Neuca paid a dividend of PLN 13 (EUR 3.05) per share. Announcement • Apr 21
NEUCA S.A., Annual General Meeting, May 16, 2024 NEUCA S.A., Annual General Meeting, May 16, 2024, at 11:00 Central European Standard Time. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: zł11.33 (vs zł31.28 in FY 2022) Full year 2023 results: EPS: zł11.33 (down from zł31.28 in FY 2022). Revenue: zł10.8b (down 4.0% from FY 2022). Net income: zł49.8m (down 64% from FY 2022). Profit margin: 0.5% (down from 1.2% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: zł10.28 (vs zł5.86 in 3Q 2022) Third quarter 2023 results: EPS: zł10.28 (up from zł5.86 in 3Q 2022). Revenue: zł2.97b (up 5.6% from 3Q 2022). Net income: zł45.1m (up 78% from 3Q 2022). Profit margin: 1.5% (up from 0.9% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. New Risk • Nov 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: zł4.77 (vs zł8.49 in 2Q 2022) Second quarter 2023 results: EPS: zł4.77 (down from zł8.49 in 2Q 2022). Revenue: zł2.89b (up 8.9% from 2Q 2022). Net income: zł21.0m (down 44% from 2Q 2022). Profit margin: 0.7% (down from 1.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Jul 22
NEUCA S.A. (WSE:NEU) acquired 51.26% stake in PPH Ewa Krotoszyn S.A for PLN 10.5 million. NEUCA S.A. (WSE:NEU) acquired 51.26% stake in PPH Ewa Krotoszyn S.A for PLN 10.5 million on July 19, 2023.
NEUCA S.A. (WSE:NEU) completed the acquisition of 51.26% stake in PPH Ewa Krotoszyn S.A on July 19, 2023. Upcoming Dividend • Jul 10
Upcoming dividend of zł13.00 per share at 1.7% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 27 July 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (2.6%). Price Target Changed • Apr 27
Price target increased by 7.4% to zł706 Up from zł657, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of zł673. Stock is down 10% over the past year. The company is forecast to post earnings per share of zł30.95 for next year compared to zł31.28 last year. Price Target Changed • Apr 23
Price target increased by 7.4% to zł706 Up from zł657, the current price target is an average from 3 analysts. New target price is 8.3% above last closing price of zł652. Stock is down 20% over the past year. The company is forecast to post earnings per share of zł30.95 for next year compared to zł31.28 last year. Buying Opportunity • Apr 20
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be zł837, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 4.9%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: zł31.28 (vs zł34.33 in FY 2021) Full year 2022 results: EPS: zł31.28 (down from zł34.33 in FY 2021). Revenue: zł11.2b (up 14% from FY 2021). Net income: zł136.4m (down 9.5% from FY 2021). Profit margin: 1.2% (down from 1.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 24
Price target decreased to zł654 Down from zł721, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of zł660. Stock is down 19% over the past year. The company posted earnings per share of zł34.32 last year. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: zł5.86 (vs zł9.12 in 3Q 2021) Third quarter 2022 results: EPS: zł5.86 (down from zł9.12 in 3Q 2021). Revenue: zł2.81b (up 10% from 3Q 2021). Net income: zł25.4m (down 37% from 3Q 2021). Profit margin: 0.9% (down from 1.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Oct 15
Price target decreased to zł721 Down from zł875, the current price target is an average from 3 analysts. New target price is 20% above last closing price of zł600. Stock is down 36% over the past year. The company posted earnings per share of zł34.32 last year. Price Target Changed • Sep 07
Price target decreased to zł815 Down from zł917, the current price target is an average from 3 analysts. New target price is 15% above last closing price of zł706. Stock is down 25% over the past year. The company posted earnings per share of zł34.32 last year. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: zł9.33 (vs zł8.01 in 2Q 2021) Second quarter 2022 results: EPS: zł9.33 (up from zł8.01 in 2Q 2021). Revenue: zł2.65b (up 14% from 2Q 2021). Net income: zł40.9m (up 16% from 2Q 2021). Profit margin: 1.5% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 5.9%, compared to a 5.8% growth forecast for the Healthcare industry in Poland. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 24
First quarter 2022 earnings released: EPS: zł13.58 (vs zł11.37 in 1Q 2021) First quarter 2022 results: EPS: zł13.58 (up from zł11.37 in 1Q 2021). Revenue: zł2.82b (up 23% from 1Q 2021). Net income: zł59.7m (up 20% from 1Q 2021). Profit margin: 2.1% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 2.1%, compared to a 13% growth forecast for the 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 increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • May 20
Price target decreased to zł888 Down from zł959, the current price target is an average from 3 analysts. New target price is 16% above last closing price of zł765. The company posted earnings per share of zł34.32 last year. Upcoming Dividend • Apr 29
Upcoming dividend of zł11.50 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 17 May 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Polish dividend payers (7.5%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 15% share price gain to zł775, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Healthcare industry in Europe. Total returns to shareholders of 248% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł1,151 per share. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS zł9.12 (vs zł10.23 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: zł2.55b (up 11% from 3Q 2020). Net income: zł40.1m (down 10% from 3Q 2020). Profit margin: 1.6% (down from 1.9% 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 16% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS zł8.01 (vs zł6.95 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: zł2.33b (up 22% from 2Q 2020). Net income: zł35.3m (up 18% from 2Q 2020). Profit margin: 1.5% (down from 1.6% 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 18% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Aug 02
Price target increased to zł899 Up from zł760, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of zł895. Stock is up 78% over the past year. Reported Earnings • May 15
First quarter 2021 earnings released: EPS zł11.37 (vs zł11.56 in 1Q 2020) The company reported a mediocre first quarter result with weaker revenues, although earnings were flat and profit margins improved. First quarter 2021 results: Revenue: zł2.30b (down 13% from 1Q 2020). Net income: zł49.9m (flat on 1Q 2020). Profit margin: 2.2% (up from 1.9% 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 18% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 03
Upcoming dividend of zł10.00 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 25 May 2021. Trailing yield: 1.4%. Lower than top quartile of Polish dividend payers (5.2%). Lower than average of industry peers (1.8%). Announcement • Mar 19
NEUCA S.A. Announces Resignation of Pawel Kusmierowski as Board Member NEUCA S.A. announced the resignation of Pawel Kusmierowski as a management board member effective March 17, 2021. Executive Departure • Mar 19
Vice President of the Board Pawel Kusmierowski has left the company On the 17th of March, Pawel Kusmierowski's tenure as Vice President of the Board ended after 2.0 years in the role. We don't have any record of a personal shareholding under Pawel's name. Pawel is the only executive to leave the company over the last 12 months. Announcement • Feb 03
NEUCA S.A. (WSE:NEU) signed a preliminary conditional agreement to acquire 32.82% stake in Pomerania investment Spolka Akcyjna. NEUCA S.A. (WSE:NEU) signed a preliminary conditional agreement to acquire 32.82% stake in Pomerania investment Spolka Akcyjna on January 29, 2021. As of December 17, 2020, NEUCA S.A. signed an agreement to acquire 0.9% stake and as of December 28, 2020 four preliminary conditional agreements to acquire further 16.47% of Pomerania shares. The selling price of 50.2% of the shares in Pomerania acquired by NEUCA S.A. under the Agreements is PLN 37.9 million and may be increased to a maximum amount of PLN 61.5 million if Towarzystwo Ubezpieczen ZDROWIE Spólka Akcyjna achieves a certain level of earned premium and profit in the years 2020-2022 gross. The transaction is subject to conditions including :(a) obtaining the decision of the President of the Office of Competition and Consumer Protection authorizing the transaction, (b) the Polish Financial Supervision Authority issues a decision stating that there are no grounds for objecting to the acquisition by the Company of the majority of Pomerania shares,(c) amending the Articles of Association of Pomerania consisting in the abolition of preference for all shares in NEUCA SA by changing all preference shares to ordinary shares. The transaction is expected to complete on September 30, 2021. Is New 90 Day High Low • Feb 01
New 90-day high: zł690 The company is up 21% from its price of zł570 on 03 November 2020. The Polish market is up 22% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Healthcare industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is zł832 per share. Is New 90 Day High Low • Jan 04
New 90-day high: zł663 The company is up 30% from its price of zł509 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is zł842 per share.