Announcement • Jun 04
Stalprodukt S.A., Annual General Meeting, Jun 30, 2026 Stalprodukt S.A., Annual General Meeting, Jun 30, 2026, at 10:00 Central European Standard Time. Reported Earnings • May 24
First quarter 2026 earnings released: zł4.82 loss per share (vs zł3.43 loss in 1Q 2025) First quarter 2026 results: zł4.82 loss per share (further deteriorated from zł3.43 loss in 1Q 2025). Revenue: zł888.7m (down 14% from 1Q 2025). Net loss: zł24.5m (loss widened 41% from 1Q 2025). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Metals and Mining industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 22
Price target decreased by 12% to zł323 Down from zł366, the current price target is an average from 2 analysts. New target price is 32% above last closing price of zł245. Stock is up 12% over the past year. The company is forecast to post earnings per share of zł9.52 for next year compared to zł5.57 last year. Reported Earnings • Nov 18
Third quarter 2025 earnings released: zł1.66 loss per share (vs zł1.03 loss in 3Q 2024) Third quarter 2025 results: zł1.66 loss per share (further deteriorated from zł1.03 loss in 3Q 2024). Revenue: zł889.8m (down 7.1% from 3Q 2024). Net loss: zł8.43m (loss widened 52% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 31
Second quarter 2025 earnings released: zł1.35 loss per share (vs zł3.58 profit in 2Q 2024) Second quarter 2025 results: zł1.35 loss per share (down from zł3.58 profit in 2Q 2024). Revenue: zł951.6m (down 2.2% from 2Q 2024). Net loss: zł6.88m (down 136% from profit in 2Q 2024). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 10
Now 21% overvalued Over the last 90 days, the stock has fallen 4.5% to zł255. The fair value is estimated to be zł211, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jul 03
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 3.2% to zł256. The fair value is estimated to be zł207, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Jun 25
Upcoming dividend of zł6.00 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 18 July 2025. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Polish dividend payers (7.1%). In line with average of industry peers (2.5%). Buy Or Sell Opportunity • May 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.6% to zł254. The fair value is estimated to be zł209, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 21
First quarter 2025 earnings released: zł3.43 loss per share (vs zł7.48 loss in 1Q 2024) First quarter 2025 results: zł3.43 loss per share (improved from zł7.48 loss in 1Q 2024). Revenue: zł1.03b (up 15% from 1Q 2024). Net loss: zł17.4m (loss narrowed 57% from 1Q 2024). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Metals and Mining industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 06
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: zł1.67 loss per share (down from zł16.38 profit in FY 2023). Revenue: zł1.00b (down 78% from FY 2023). Net loss: zł9.03m (down 110% from profit in FY 2023). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 52% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Metals and Mining industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 17
Third quarter 2024 earnings released: zł1.03 loss per share (vs zł2.51 profit in 3Q 2023) Third quarter 2024 results: zł1.03 loss per share (down from zł2.51 profit in 3Q 2023). Revenue: zł957.4m (down 10% from 3Q 2023). Net loss: zł5.55m (down 141% from profit in 3Q 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Metals and Mining industry in Poland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Price Target Changed • Oct 01
Price target decreased by 9.0% to zł327 Down from zł359, the current price target is an average from 3 analysts. New target price is 28% above last closing price of zł256. Stock is up 15% over the past year. The company is forecast to post earnings per share of zł3.17 for next year compared to zł16.38 last year. Reported Earnings • Sep 21
Second quarter 2024 earnings released: EPS: zł3.58 (vs zł5.49 loss in 2Q 2023) Second quarter 2024 results: EPS: zł3.58 (up from zł5.49 loss in 2Q 2023). Revenue: zł973.5m (down 22% from 2Q 2023). Net income: zł19.3m (up zł48.3m from 2Q 2023). Profit margin: 2.0% (up from net loss in 2Q 2023). Revenue is expected to decline by 5.8% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Poland are expected to grow by 2.7%. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 04
First quarter 2024 earnings released: zł7.48 loss per share (vs zł20.37 profit in 1Q 2023) First quarter 2024 results: zł7.48 loss per share (down from zł20.37 profit in 1Q 2023). Revenue: zł897.7m (down 31% from 1Q 2023). Net loss: zł40.4m (down 136% from profit in 1Q 2023). Revenue is expected to decline by 6.7% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Poland are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • May 31
Stalprodukt S.A., Annual General Meeting, Jun 26, 2024 Stalprodukt S.A., Annual General Meeting, Jun 26, 2024. Reported Earnings • May 06
Full year 2023 earnings released: EPS: zł16.38 (vs zł85.85 in FY 2022) Full year 2023 results: EPS: zł16.38 (down from zł85.85 in FY 2022). Revenue: zł4.61b (down 22% from FY 2022). Net income: zł88.4m (down 81% from FY 2022). Profit margin: 1.9% (down from 8.0% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 11% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Poland are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. New Risk • Apr 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 34% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 34% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.3% net profit margin). New Risk • Jan 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.8% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 6.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.3% net profit margin). Reported Earnings • Nov 17
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł1.07b (down 26% from 3Q 2022). Net income: zł13.6m (down 85% from 3Q 2022). Profit margin: 1.3% (down from 6.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Sep 03
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł1.25b (down 21% from 2Q 2022). Net loss: zł29.0m (down 125% from profit in 2Q 2022). Revenue is forecast to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Poland are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 23
Upcoming dividend of zł15.00 per share at 5.2% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 17 July 2023. Trailing yield: 5.2%. Lower than top quartile of Polish dividend payers (7.2%). Higher than average of industry peers (3.1%). Announcement • Jun 02
Stalprodukt S.A., Annual General Meeting, Jun 27, 2023 Stalprodukt S.A., Annual General Meeting, Jun 27, 2023, at 10:00 Central European Standard Time. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: zł69.45 (vs zł93.10 in FY 2021) Full year 2022 results: EPS: zł69.45 (down from zł93.10 in FY 2021). Revenue: zł5.90b (up 26% from FY 2021). Net income: zł387.6m (down 25% from FY 2021). Profit margin: 6.6% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 17
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł1.45b (up 19% from 3Q 2021). Net income: zł88.8m (down 42% from 3Q 2021). Profit margin: 6.1% (down from 13% in 3Q 2021). Revenue is expected to fall by 18% p.a. on average during the next 2 years compared to a 1.2% decline forecast for the Metals and Mining industry in Poland. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to zł235, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Metals and Mining industry in Poland. Total returns to shareholders of 9.4% over the past three years. Upcoming Dividend • Jun 24
Upcoming dividend of zł12.00 per share Eligible shareholders must have bought the stock before 01 July 2022. Payment date: 14 July 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Polish dividend payers (8.4%). Higher than average of industry peers (3.7%). Reported Earnings • May 15
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: zł26.58 (up from zł14.01 in 1Q 2021). Revenue: zł1.47b (up 46% from 1Q 2021). Net income: zł148.3m (up 90% from 1Q 2021). Profit margin: 10% (up from 7.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Over the next year, revenue is expected to shrink by 3.8% compared to a 25% growth forecast for the industry in Poland. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improved over the past week After last week's 33% share price gain to zł361, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Metals and Mining industry in Europe. Total returns to shareholders of 19% over the past three years. Price Target Changed • Mar 04
Price target increased to zł408 Up from zł361, the current price target is an average from 2 analysts. New target price is 20% above last closing price of zł339. Stock is up 4.0% over the past year. The company is forecast to post earnings per share of zł31.00 for next year compared to zł87.59 last year. Reported Earnings • Mar 03
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: zł87.60 (up from zł30.96 in FY 2020). Revenue: zł4.67b (up 41% from FY 2020). Net income: zł488.8m (up 183% from FY 2020). Profit margin: 11% (up from 5.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Over the next year, revenue is expected to shrink by 17% compared to a 16% growth forecast for the mining industry in Poland. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 19
Third quarter 2021 earnings released: EPS zł27.39 (vs zł8.09 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł1.22b (up 51% from 3Q 2020). Net income: zł152.8m (up 238% from 3Q 2020). Profit margin: 13% (up from 5.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improved over the past week After last week's 15% share price gain to zł317, the stock trades at a trailing P/E ratio of 5.7x. Average forward P/E is 7x in the Metals and Mining industry in Poland. Total loss to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł231 per share. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improved over the past week After last week's 15% share price gain to zł310, the stock trades at a trailing P/E ratio of 5.6x. Average forward P/E is 8x in the Metals and Mining industry in Poland. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł526 per share. Reported Earnings • Sep 02
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł1.13b (up 50% from 2Q 2020). Net income: zł136.1m (up 183% from 2Q 2020). Profit margin: 12% (up from 6.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 24
Upcoming dividend of zł6.00 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 14 July 2021. Trailing yield: 1.5%. Lower than top quartile of Polish dividend payers (5.8%). Lower than average of industry peers (1.7%). Price Target Changed • Jun 16
Price target increased to zł404 Up from zł299, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of zł390. Stock is up 132% over the past year. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 15% share price gain to zł403, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Metals and Mining industry in Poland. Total loss to shareholders of 9.5% over the past three years. Major Estimate Revision • Mar 06
Analysts update estimates The 2021 consensus revenue estimate increased from zł3.43b to zł3.85b. Earning per share (EPS) estimate was unchanged from the last update at zł35.60. The Metals and Mining industry in Poland is expected to see an average net income growth of 57% next year. The consensus price target increased from zł299 to zł313. Share price is up 2.8% to zł326 over the past week. Reported Earnings • Mar 01
Full year 2020 earnings released: EPS zł29.15 (vs zł25.54 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: zł3.32b (down 13% from FY 2019). Net income: zł162.6m (up 14% from FY 2019). Profit margin: 4.9% (up from 3.7% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 01
Revenue beats expectations Revenue exceeded analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 3.4%, compared to a 17% growth forecast for the Metals and Mining industry in Poland. Is New 90 Day High Low • Feb 17
New 90-day high: zł350 The company is up 68% from its price of zł208 on 19 November 2020. The Polish market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 39% over the same period. Price Target Changed • Feb 03
Price target lowered to zł299 Down from zł384, the current price target is an average from 2 analysts. The new target price is close to the current share price of zł311. As of last close, the stock is up 52% over the past year. Is New 90 Day High Low • Jan 18
New 90-day high: zł343 The company is up 89% from its price of zł182 on 20 October 2020. The Polish market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 49% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is zł316 per share. Is New 90 Day High Low • Dec 28
New 90-day high: zł288 The company is up 50% from its price of zł192 on 29 September 2020. The Polish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 38% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is zł233 per share. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 16% share price gain to zł245, the stock is trading at a trailing P/E ratio of 9.6x, up from the previous P/E ratio of 8.2x. This compares to an average P/E of 9x in the Metals and Mining industry in Poland. Total return to shareholders over the past three years is a loss of 50%. Is New 90 Day High Low • Dec 10
New 90-day high: zł229 The company is up 1.0% from its price of zł228 on 11 September 2020. The Polish market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is zł314 per share. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS zł8.09 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł806.5m (down 16% from 3Q 2019). Net income: zł45.2m (up 37% from 3Q 2019). Profit margin: 5.6% (up from 3.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 25% per year. Valuation Update With 7 Day Price Move • Nov 07
Market bids up stock over the past week After last week's 20% share price gain to zł189, the stock is trading at a trailing P/E ratio of 8.1x, up from the previous P/E ratio of 6.7x. This compares to an average P/E of 7x in the Metals and Mining industry in Poland. Total return to shareholders over the past three years is a loss of 62%. Announcement • Oct 05
FCASE Sp. z o.o. S.K.A. acquired 5.4% stake in Stalprodukt S.A. (WSE:STP). FCASE Sp. z o.o. S.K.A. acquired 5.4% stake in Stalprodukt S.A. (WSE:STP) on October 2, 2020.
FCASE Sp. z o.o. S.K.A. completed the acquisition of 5.4% stake in Stalprodukt S.A. (WSE:STP) on October 2, 2020. Price Target Changed • Sep 25
Price target raised to zł458 Up from zł384, the current price target is an average from 2 analysts. The new target price is 143% above the current share price of zł189. As of last close, the stock is down 18% over the past year.