Upcoming Dividend • Jun 17
Upcoming dividend of zł1.97 per share Eligible shareholders must have bought the stock before 24 June 2026. Payment date: 01 July 2026. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 12%. Within top quartile of Polish dividend payers (7.1%). Higher than average of industry peers (9.5%). Declared Dividend • Apr 26
Dividend of zł1.97 announced Dividend of zł1.97 is the same as last year. Ex-date: 24th June 2026 Payment date: 1st July 2026 Dividend yield will be 12%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 58% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 24
Murapol S.A., Annual General Meeting, May 22, 2026 Murapol S.A., Annual General Meeting, May 22, 2026, at 12:00 Central European Standard Time. Buy Or Sell Opportunity • Feb 26
Now 20% undervalued Over the last 90 days, the stock has risen 7.8% to zł43.30. The fair value is estimated to be zł54.25, 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% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to grow by 8.9% per annum. Earnings are also forecast to grow by 6.5% per annum over the same time period. Buy Or Sell Opportunity • Feb 05
Now 20% undervalued Over the last 90 days, the stock has risen 9.5% to zł42.80. The fair value is estimated to be zł53.75, 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% over the last 3 years. Earnings per share has grown by 7.3%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. Upcoming Dividend • Dec 09
Upcoming dividend of zł2.94 per share Eligible shareholders must have bought the stock before 16 December 2025. Payment date: 22 December 2025. Payout ratio and cash payout ratio are on the higher end at 85% and 75% respectively. Trailing yield: 12%. Within top quartile of Polish dividend payers (7.4%). Higher than average of industry peers (9.5%). Announcement • Nov 28
Murapol S.A. has completed a Follow-on Equity Offering in the amount of PLN 326.196 million. Murapol S.A. has completed a Follow-on Equity Offering in the amount of PLN 326.196 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 8,364,000
Price\Range: PLN 39
Transaction Features: Regulation S; Subsequent Direct Listing Reported Earnings • Nov 20
Third quarter 2025 earnings released: EPS: zł0.68 (vs zł0.72 in 3Q 2024) Third quarter 2025 results: EPS: zł0.68 (down from zł0.72 in 3Q 2024). Revenue: zł196.4m (down 2.9% from 3Q 2024). Net income: zł28.0m (down 5.2% from 3Q 2024). Profit margin: 14% (in line with 3Q 2024). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Real Estate industry in Poland. Announcement • Nov 15
Murapol S.A. to Report Q3, 2025 Results on Nov 18, 2025 Murapol S.A. announced that they will report Q3, 2025 results on Nov 18, 2025 Reported Earnings • Sep 25
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł198.8m (down 23% from 2Q 2024). Net income: zł28.3m (down 31% from 2Q 2024). Profit margin: 14% (down from 16% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Real Estate industry in Poland. Announcement • Aug 22
Murapol S.A. to Report First Half, 2025 Results on Sep 24, 2025 Murapol S.A. announced that they will report first half, 2025 results on Sep 24, 2025 Upcoming Dividend • Jun 11
Upcoming dividend of zł1.97 per share Eligible shareholders must have bought the stock before 18 June 2025. Payment date: 24 June 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 12%. Within top quartile of Polish dividend payers (7.2%). Higher than average of industry peers (6.8%). Reported Earnings • May 13
First quarter 2025 earnings released: EPS: zł1.68 (vs zł1.49 in 1Q 2024) First quarter 2025 results: EPS: zł1.68 (up from zł1.49 in 1Q 2024). Revenue: zł330.6m (up 1.0% from 1Q 2024). Net income: zł68.6m (up 12% from 1Q 2024). Profit margin: 21% (up from 19% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Real Estate industry in Poland. Announcement • Apr 04
Murapol S.A., Annual General Meeting, Apr 29, 2025 Murapol S.A., Annual General Meeting, Apr 29, 2025. Reported Earnings • Apr 03
Full year 2024 earnings released: EPS: zł5.93 (vs zł5.37 in FY 2023) Full year 2024 results: EPS: zł5.93 (up from zł5.37 in FY 2023). Revenue: zł1.33b (up 9.4% from FY 2023). Net income: zł242.0m (up 11% from FY 2023). Profit margin: 18% (in line with FY 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in Poland. New Risk • Jan 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 5x increase in shares outstanding. This is considered a major 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 125% Cash payout ratio: 195% Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Reported Earnings • Nov 21
Third quarter 2024 earnings released Third quarter 2024 results: Net income: zł29.5m (up zł29.5m from 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Real Estate industry in Poland. Upcoming Dividend • Oct 29
Upcoming dividend of zł2.94 per share Eligible shareholders must have bought the stock before 05 November 2024. Payment date: 12 November 2024. 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 (7.8%). Higher than average of industry peers (6.8%). Reported Earnings • Sep 27
Second quarter 2024 earnings released Second quarter 2024 results: EPS: zł1.01. Net income: zł41.2m (up zł41.2m from 2Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in Poland. Buy Or Sell Opportunity • Jul 30
Now 22% overvalued Over the last 90 days, the stock has fallen 15% to zł36.30. The fair value is estimated to be zł29.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last year. Earnings per share has declined by 16%. Revenue is forecast to grow by 60% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. Buy Or Sell Opportunity • Apr 29
Now 20% undervalued Over the last 90 days, the stock has risen 12% to zł42.52. The fair value is estimated to be zł53.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last year. Earnings per share has declined by 5.8%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Apr 06
Murapol S.A., Annual General Meeting, Apr 30, 2024 Murapol S.A., Annual General Meeting, Apr 30, 2024, at 12:00 Central European Standard Time. Agenda: To consider the dividend. Announcement • Apr 04
Murapol Proposes Dividend for 2023 Murapol to allocate PLN 80.4 million (EUR 18.7 million) from 2023 net profit for dividend, PLN 1.97 (EUR 0.46) per share, the company announced in draft resolutions for a general meeting called for April 30, 2024. Buy Or Sell Opportunity • Apr 04
Now 20% undervalued Over the last 90 days, the stock has risen 11% to zł41.92. The fair value is estimated to be zł52.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last year. Earnings per share has declined by 5.8%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Feb 25
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at zł40.81. The fair value is estimated to be zł51.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last year. Earnings per share has declined by 5.8%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Feb 13
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at zł41.00. The fair value is estimated to be zł52.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last year. Earnings per share has declined by 5.8%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Feb 03
Murapol S.A. to Report Fiscal Year 2023 Results on Apr 03, 2024 Murapol S.A. announced that they will report fiscal year 2023 results on Apr 03, 2024