Announcement • Jun 05
Kupiec S.A., Annual General Meeting, Jun 30, 2026 Kupiec S.A., Annual General Meeting, Jun 30, 2026. New Risk • Jun 05
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: 0.9% Last year net profit margin: 9.2% 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 Shares are highly illiquid. Earnings have declined by 16% per year over the past 5 years. Market cap is less than US$10m (zł3.80m market cap, or US$1.04m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Reported Earnings • May 19
First quarter 2026 earnings released First quarter 2026 results: Revenue: zł6.54m (up 33% from 1Q 2025). Net income: zł89.4k (down 96% from 1Q 2025). Profit margin: 1.4% (down from 43% in 1Q 2025). New Risk • May 19
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: 0.9% Last year net profit margin: 9.0% 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 Shares are highly illiquid. Earnings have declined by 25% per year over the past 5 years. Market cap is less than US$10m (zł3.48m market cap, or US$955.2k). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Announcement • Feb 10
Kupiec S.A. to Report Q4, 2025 Results on Feb 13, 2026 Kupiec S.A. announced that they will report Q4, 2025 results on Feb 13, 2026 Announcement • Nov 11
Kupiec S.A. to Report Q3, 2025 Results on Nov 13, 2025 Kupiec S.A. announced that they will report Q3, 2025 results on Nov 13, 2025 Reported Earnings • Aug 12
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł6.12m (down 16% from 2Q 2024). Net loss: zł5.8k (down 105% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. New Risk • Feb 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 35% per year over the past 5 years. Market cap is less than US$10m (zł3.87m market cap, or US$971.4k). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.009% net profit margin). Reported Earnings • Feb 16
Full year 2024 earnings released: EPS: zł0.001 (vs zł0.002 in FY 2023) Full year 2024 results: EPS: zł0.001 (down from zł0.002 in FY 2023). Revenue: zł26.7m (down 22% from FY 2023). Net income: zł2.5k (down 55% from FY 2023). Profit margin: 0% (in line with FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. New Risk • Dec 23
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 6.7% 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 Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 26% per year over the past 5 years. Market cap is less than US$10m (zł3.05m market cap, or US$743.2k). Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). Reported Earnings • Aug 07
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł7.32m (down 18% from 2Q 2023). Net income: zł113.0k (down 49% from 2Q 2023). Profit margin: 1.5% (down from 2.5% in 2Q 2023). 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. Announcement • Jun 05
Kupiec S.A., Annual General Meeting, Jun 28, 2024 Kupiec S.A., Annual General Meeting, Jun 28, 2024. Reported Earnings • May 14
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł6.91m (down 30% from 1Q 2023). Net loss: zł97.2k (down zł110.4k from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. New Risk • Apr 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$10m (zł3.62m market cap, or US$911.4k). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Feb 13
Full year 2023 earnings released: EPS: zł0.046 (vs zł0.017 in FY 2022) Full year 2023 results: EPS: zł0.046 (up from zł0.017 in FY 2022). Revenue: zł34.3m (down 37% from FY 2022). Net income: zł161.9k (up 180% from FY 2022). Profit margin: 0.5% (up from 0.1% in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł8.03m (down 44% from 3Q 2022). Net loss: zł111.8k (down 226% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł8.91m (down 37% from 2Q 2022). Net income: zł221.3k (down 35% from 2Q 2022). Profit margin: 2.5% (up from 2.4% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Jun 02
Kupiec S.A., Annual General Meeting, Jun 30, 2023 Kupiec S.A., Annual General Meeting, Jun 30, 2023, at 10:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to zł1.36, the stock trades at a trailing P/E ratio of 50.8x. Average trailing P/E is 16x in the Transportation industry in Europe. Total returns to shareholders of 198% over the past three years. Reported Earnings • Feb 19
Full year 2022 earnings released: EPS: zł0.027 (vs zł0.72 in FY 2021) Full year 2022 results: EPS: zł0.027 (down from zł0.72 in FY 2021). Revenue: zł54.2m (down 11% from FY 2021). Net income: zł93.2k (down 97% from FY 2021). Profit margin: 0.2% (down from 5.0% in FY 2021). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to zł1.70, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 13x in the Transportation industry in Europe. Total returns to shareholders of 273% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł1.85, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 12x in the Transportation industry in Europe. Total returns to shareholders of 248% over the past three years. Upcoming Dividend • Sep 16
Upcoming dividend of zł0.38 per share Eligible shareholders must have bought the stock before 23 September 2022. Payment date: 07 October 2022. Trailing yield: 17%. Within top quartile of Polish dividend payers (8.8%). Higher than average of industry peers (5.3%). Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł14.2m (up 3.0% from 2Q 2021). Net income: zł337.8k (down 81% from 2Q 2021). Profit margin: 2.4% (down from 13% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 17% share price gain to zł2.79, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 13x in the Transportation industry in Europe. Total returns to shareholders of 329% over the past three years. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 24% share price gain to zł2.11, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 14x in the Transportation industry in Europe. Total returns to shareholders of 185% over the past three years. Reported Earnings • May 16
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł13.1m (flat on 1Q 2021). Net income: zł301.2k (up 86% from 1Q 2021). Profit margin: 2.3% (up from 1.2% in 1Q 2021). Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorated over the past week After last week's 19% share price decline to zł2.52, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 12x in the Transportation industry in Europe. Total returns to shareholders of 260% over the past three years. Reported Earnings • Feb 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: zł0.43 (up from zł0.18 in FY 2020). Revenue: zł61.0m (up 42% from FY 2020). Net income: zł1.82m (up 141% from FY 2020). Profit margin: 3.0% (up from 1.8% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 38% share price gain to zł3.99, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 14x in the Transportation industry in Europe. Total returns to shareholders of 375% over the past three years. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 15% share price gain to zł3.45, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 13x in the Transportation industry in Europe. Total returns to shareholders of 576% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 15% share price gain to zł3.23, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 14x in the Transportation industry in Europe. Total returns to shareholders of 487% over the past three years. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improved over the past week After last week's 16% share price gain to zł2.55, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 24x in the Transportation industry in Europe. Total returns to shareholders of 325% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 17% share price gain to zł2.48, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 22x in the Transportation industry in Europe. Total returns to shareholders of 259% over the past three years. Reported Earnings • Aug 18
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: zł13.8m (up 77% from 2Q 2020). Net income: zł1.73m (up zł1.50m from 2Q 2020). Profit margin: 13% (up from 3.0% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 26% share price gain to zł2.19, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 15x in the Transportation industry in Europe. Total returns to shareholders of 253% over the past three years. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 15% share price gain to zł1.99, the stock is trading at a trailing P/E ratio of 10.4x, up from the previous P/E ratio of 9.1x. This compares to an average P/E of 13x in the Transportation industry in Europe. Total returns to shareholders over the past three years are 93%. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorated over the past week After last week's 18% share price decline to zł1.95, the stock is trading at a trailing P/E ratio of 10.2x, down from the previous P/E ratio of 12.5x. This compares to an average P/E of 15x in the Transportation industry in Europe. Total returns to shareholders over the past three years are 110%. Reported Earnings • Feb 14
Full year 2020 earnings released: EPS zł0.19 (vs zł0.088 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: zł41.9m (down 15% from FY 2019). Net income: zł803.5k (up 116% from FY 2019). Profit margin: 1.9% (up from 0.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 01
New 90-day high: zł2.26 The company is up 111% from its price of zł1.07 on 03 November 2020. The Polish market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Transportation industry, which is up 29% over the same period. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improved over the past week After last week's 16% share price gain to zł2.26, the stock is trading at a trailing P/E ratio of 11.2x, up from the previous P/E ratio of 9.6x. This compares to an average P/E of 14x in the Transportation industry in Europe. Total returns to shareholders over the past three years are 117%. Valuation Update With 7 Day Price Move • Nov 20
Market pulls back on stock over the past week After last week's 17% share price decline to zł1.80, the stock is trading at a trailing P/E ratio of 12.5x, down from the previous P/E ratio of 15x. This compares to an average P/E of 14x in the Transportation industry in Europe. Total returns to shareholders over the past three years are 58%. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 25% share price gain to zł1.34, the stock is trading at a trailing P/E ratio of 9.3x, up from the previous P/E ratio of 7.4x. This compares to an average P/E of 11x in the Transportation industry in Europe. Total returns to shareholders over the past three years are 7.2%. Is New 90 Day High Low • Nov 10
New 90-day high: zł1.34 The company is up 26% from its price of zł1.06 on 12 August 2020. The Polish market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Transportation industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Oct 22
Market bids up stock over the past week After last week's 15% share price gain to zł1.07, the stock is trading at a trailing P/E ratio of 7.4x, up from the previous P/E ratio of 6.4x. This compares to an average P/E of 11x in the Transportation industry in Europe. Total return to shareholders over the past three years is a loss of 22%.