New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 22% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (zł13.6m market cap, or US$3.61m). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Announcement • Jun 09
Verbicom S.A., Annual General Meeting, Jun 30, 2026 Verbicom S.A., Annual General Meeting, Jun 30, 2026. Declared Dividend • Jun 07
Dividend of zł0.01 announced Dividend of zł0.01 is the same as last year. Ex-date: 27th August 2026 Payment date: 23rd December 2026 Dividend yield will be 0.5%, which is lower than the industry average of 4.7%. Announcement • Jun 05
Verbicom S.A. announces Annual dividend, payable on December 23, 2026 Verbicom S.A. announced Annual dividend of PLN 0.0100 per share payable on December 23, 2026, ex-date on August 27, 2026 and record date on August 28, 2026. New Risk • May 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. 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: Major Risks High level of non-cash earnings (36% accrual ratio). Market cap is less than US$10m (zł15.3m market cap, or US$4.23m). Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Share price has been volatile over the past 3 months (9.6% average weekly change). Profit margins are more than 30% lower than last year (14% net profit margin). Revenue is less than US$5m (zł7.4m revenue, or US$2.0m). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł1.65, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 20x in the Telecom industry in Poland. Total returns to shareholders of 1.5% over the past three years. Announcement • Feb 10
Verbicom S.A. to Report Q4, 2025 Results on Feb 13, 2026 Verbicom S.A. announced that they will report Q4, 2025 results on Feb 13, 2026 Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł1.65, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 18x in the Telecom industry in Poland. Total returns to shareholders of 15% over the past three years. New Risk • Dec 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 14% Last year net profit margin: 99% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.1% average weekly change). High level of non-cash earnings (36% accrual ratio). Market cap is less than US$10m (zł9.55m market cap, or US$2.63m). Minor Risks Profit margins are more than 30% lower than last year (14% net profit margin). Revenue is less than US$5m (zł7.4m revenue, or US$2.0m). Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł1.19, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 15x in the Telecom industry in Poland. Total loss to shareholders of 20% over the past three years. Reported Earnings • Nov 18
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł9.51m (down 20% from 3Q 2024). Net loss: zł697.6k (down 302% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Nov 10
Verbicom S.A. to Report Q3, 2025 Results on Nov 12, 2025 Verbicom S.A. announced that they will report Q3, 2025 results on Nov 12, 2025 Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł1.13, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 14x in the Telecom industry in Poland. Total loss to shareholders of 23% over the past three years. New Risk • Aug 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 22% Last year net profit margin: 171% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (zł8.27m market cap, or US$2.27m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (22% net profit margin). Revenue is less than US$5m (zł9.7m revenue, or US$2.7m). Upcoming Dividend • Aug 21
Upcoming dividend of zł0.01 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 23 December 2025. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (49%). Reported Earnings • Aug 17
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł11.9m (up 14% from 2Q 2024). Net income: zł583.1k (up zł752.0k from 2Q 2024). Profit margin: 4.9% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Declared Dividend • Jun 02
Dividend of zł0.01 announced Dividend of zł0.01 is the same as last year. Ex-date: 28th August 2025 Payment date: 23rd December 2025 Dividend yield will be 0.9%, which is lower than the industry average of 4.7%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 2%. Announcement • Jun 01
Verbicom S.A. announces Annual dividend, payable on December 23, 2025 Verbicom S.A. announced Annual dividend of PLN 0.0100 per share payable on December 23, 2025, ex-date on August 28, 2025 and record date on August 29, 2025. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł10.6m (up 32% from 1Q 2024). Net income: zł818.9k (up 117% from 1Q 2024). Profit margin: 7.8% (up from 4.7% in 1Q 2024). The increase in margin was driven by higher revenue. Reported Earnings • Feb 15
Full year 2024 earnings released: EPS: zł0.063 (vs zł0.003 in FY 2023) Full year 2024 results: EPS: zł0.063 (up from zł0.003 in FY 2023). Revenue: zł43.4m (down 14% from FY 2023). Net income: zł502.7k (up zł476.1k from FY 2023). Profit margin: 1.2% (up from 0.1% in FY 2023). 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. Upcoming Dividend • Aug 22
Upcoming dividend of zł0.01 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 20 December 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.0%. Lower than top quartile of Polish dividend payers (7.6%). Lower than average of industry peers (4.2%). Reported Earnings • Aug 11
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł10.4m (down 29% from 2Q 2023). Net loss: zł168.9k (down 286% from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • May 13
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł8.02m (down 32% from 1Q 2023). Net income: zł378.2k (up 394% from 1Q 2023). Profit margin: 4.7% (up from 0.6% in 1Q 2023). Reported Earnings • Feb 13
Full year 2023 earnings released: zł0.049 loss per share (vs zł0.11 profit in FY 2022) Full year 2023 results: zł0.049 loss per share (down from zł0.11 profit in FY 2022). Revenue: zł50.6m (down 1.2% from FY 2022). Net loss: zł396.9k (down 145% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings have declined by 8.5% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Shares are highly illiquid. Earnings have declined by 8.5% per year over the past 5 years. Market cap is less than US$10m (zł9.55m market cap, or US$2.38m). Upcoming Dividend • Aug 23
Upcoming dividend of zł0.01 per share at 0.8% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 21 December 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Polish dividend payers (7.5%). Lower than average of industry peers (4.4%). Reported Earnings • Aug 13
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł14.6m (up 57% from 2Q 2022). Net income: zł90.9k (up zł489.5k from 2Q 2022). Profit margin: 0.6% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to zł1.20, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 14x in the Telecom industry in Poland. Total loss to shareholders of 17% over the past three years. Announcement • Jun 02
Verbicom S.A., Annual General Meeting, Jun 27, 2023 Verbicom S.A., Annual General Meeting, Jun 27, 2023, at 11:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł1.80, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 14x in the Telecom industry in Poland. Total returns to shareholders of 28% over the past three years. Reported Earnings • Feb 13
Full year 2022 earnings released: EPS: zł0.092 (vs zł0.29 in FY 2021) Full year 2022 results: EPS: zł0.092 (down from zł0.29 in FY 2021). Revenue: zł51.2m (up 12% from FY 2021). Net income: zł738.6k (down 68% from FY 2021). Profit margin: 1.4% (down from 5.1% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 3% per year. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł1.80, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 13x in the Telecom industry in Poland. Total loss to shareholders of 5.5% over the past three years. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł1.42, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 10x in the Telecom industry in Poland. Total returns to shareholders of 31% over the past three years. Upcoming Dividend • Jul 21
Upcoming dividend of zł0.03 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 29 August 2022. Payout ratio is a comfortable 7.4% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Polish dividend payers (8.4%). Lower than average of industry peers (4.3%). Announcement • Jun 02
Verbicom S.A., Annual General Meeting, Jun 27, 2022 Verbicom S.A., Annual General Meeting, Jun 27, 2022, at 12:00 Central European Standard Time. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: zł0.37 (up from zł0.14 loss in FY 2020). Revenue: zł45.8m (up 57% from FY 2020). Net income: zł2.92m (up zł4.03m from FY 2020). Profit margin: 6.4% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 15% share price gain to zł1.94, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 11x in the Telecom industry in Poland. Total returns to shareholders of 128% over the past three years. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment deteriorated over the past week After last week's 19% share price decline to zł1.22, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 13x in the Telecom industry in Poland. Total returns to shareholders of 47% over the past three years. Upcoming Dividend • Jul 22
Upcoming dividend of zł0.02 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 31 August 2021. Trailing yield: 1.2%. Lower than top quartile of Polish dividend payers (5.9%). Lower than average of industry peers (4.0%). Is New 90 Day High Low • Feb 17
New 90-day high: zł1.22 The company is up 7.0% from its price of zł1.14 on 19 November 2020. The Polish market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Telecom industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: zł0.93 The company is down 28% from its price of zł1.30 on 29 September 2020. The Polish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is down 5.0% over the same period. Is New 90 Day High Low • Nov 25
New 90-day low: zł1.00 The company is down 28% from its price of zł1.39 on 25 August 2020. The Polish market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is down 10.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: zł1.06 The company is down 31% from its price of zł1.54 on 31 July 2020. The Polish market is down 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is down 10.0% over the same period. Is New 90 Day High Low • Oct 07
New 90-day low: zł1.17 The company is down 28% from its price of zł1.63 on 09 July 2020. The Polish market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 9.0% over the same period. Is New 90 Day High Low • Sep 19
New 90-day low: zł1.19 The company is down 22% from its price of zł1.52 on 19 June 2020. The Polish market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 7.0% over the same period.