Reported Earnings • May 24
First quarter 2026 earnings released: EPS: zł0.71 (vs zł0.29 in 1Q 2025) First quarter 2026 results: EPS: zł0.71 (up from zł0.29 in 1Q 2025). Revenue: zł143.3m (up 73% from 1Q 2025). Net income: zł8.34m (up 147% from 1Q 2025). Profit margin: 5.8% (up from 4.1% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year whereas the company’s share price has increased by 70% per year. Announcement • Apr 17
Dadelo S.A., Annual General Meeting, May 12, 2026 Dadelo S.A., Annual General Meeting, May 12, 2026, at 12:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł76.40, the stock trades at a trailing P/E ratio of 39.8x. Average trailing P/E is 14x in the Specialty Retail industry in Poland. Total returns to shareholders of 573% over the past three years. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: zł0.82 (vs zł0.27 in 3Q 2024) Third quarter 2025 results: EPS: zł0.82 (up from zł0.27 in 3Q 2024). Revenue: zł134.6m (up 69% from 3Q 2024). Net income: zł9.50m (up 201% from 3Q 2024). Profit margin: 7.1% (up from 4.0% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 77% per year whereas the company’s share price has increased by 81% per year. Announcement • Nov 10
Dadelo S.A. to Report Q3, 2025 Results on Nov 12, 2025 Dadelo S.A. announced that they will report Q3, 2025 results on Nov 12, 2025 Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to zł62.60, the stock trades at a trailing P/E ratio of 40x. Average trailing P/E is 13x in the Specialty Retail industry in Poland. Total returns to shareholders of 514% over the past three years. New Risk • Aug 25
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (63% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.8% average weekly change). Reported Earnings • Aug 18
Second quarter 2025 earnings released: EPS: zł1.17 (vs zł0.90 in 2Q 2024) Second quarter 2025 results: EPS: zł1.17 (up from zł0.90 in 2Q 2024). Revenue: zł159.9m (up 52% from 2Q 2024). Net income: zł13.6m (up 30% from 2Q 2024). Profit margin: 8.5% (down from 10.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 64% per year whereas the company’s share price has increased by 63% per year. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł46.80, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 13x in the Specialty Retail industry in Poland. Total returns to shareholders of 274% over the past three years. New Risk • Jun 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (59% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł39.60, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 12x in the Specialty Retail industry in Poland. Total returns to shareholders of 277% over the past three years. New Risk • Jun 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (59% accrual ratio). Reported Earnings • May 23
First quarter 2025 earnings released: EPS: zł0.29 (vs zł0.17 in 1Q 2024) First quarter 2025 results: EPS: zł0.29 (up from zł0.17 in 1Q 2024). Revenue: zł83.1m (up 53% from 1Q 2024). Net income: zł3.37m (up 74% from 1Q 2024). Profit margin: 4.1% (up from 3.6% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Announcement • Apr 18
Dadelo S.A., Annual General Meeting, May 14, 2025 Dadelo S.A., Annual General Meeting, May 14, 2025. New Risk • Mar 30
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (zł273.2m market cap, or US$70.7m). New Risk • May 26
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). Profit margins are more than 30% lower than last year (1.4% net profit margin). Market cap is less than US$100m (zł221.8m market cap, or US$56.6m). Announcement • May 21
Dadelo S.A., Annual General Meeting, Jun 13, 2024 Dadelo S.A., Annual General Meeting, Jun 13, 2024. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: zł0.066 (vs zł0.15 in 3Q 2022) Third quarter 2023 results: EPS: zł0.066 (down from zł0.15 in 3Q 2022). Revenue: zł57.8m (up 70% from 3Q 2022). Net income: zł792.0k (down 56% from 3Q 2022). Profit margin: 1.4% (down from 5.2% in 3Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 21
Second quarter 2023 earnings released: EPS: zł0.22 (vs zł0.18 in 2Q 2022) Second quarter 2023 results: EPS: zł0.22 (up from zł0.18 in 2Q 2022). Revenue: zł70.4m (up 70% from 2Q 2022). Net income: zł2.68m (up 31% from 2Q 2022). Profit margin: 3.8% (down from 4.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł14.65, the stock trades at a trailing P/E ratio of 43.4x. Average trailing P/E is 14x in the Specialty Retail industry in Poland. Total returns to shareholders of 27% over the past year. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł12.65, the stock trades at a trailing P/E ratio of 39.3x. Average trailing P/E is 12x in the Specialty Retail industry in Poland. Total loss to shareholders of 2.5% over the past year. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 15% share price gain to zł9.90, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 24x in the Online Retail industry in Poland. Total loss to shareholders of 47% over the past year. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł8.66, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 23x in the Online Retail industry in Poland. Total loss to shareholders of 55% over the past year. Reported Earnings • May 30
First quarter 2022 earnings released: EPS: zł0.01 (vs zł0.071 in 1Q 2021) First quarter 2022 results: EPS: zł0.01 (down from zł0.071 in 1Q 2021). Revenue: zł19.4m (up 49% from 1Q 2021). Net income: zł73.0k (down 91% from 1Q 2021). Profit margin: 0.4% (down from 6.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorated over the past week After last week's 15% share price decline to zł13.40, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 25x in the Online Retail industry in Poland. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 22% share price gain to zł16.60, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 27x in the Online Retail industry in Poland. Reported Earnings • May 29
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: zł13.0m (up 42% from 1Q 2020). Net income: zł810.0k (up zł894.0k from 1Q 2020). Profit margin: 6.2% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue.