Duyuru • Nov 11
Atal S.A. to Report Q3, 2025 Results on Nov 13, 2025 Atal S.A. announced that they will report Q3, 2025 results on Nov 13, 2025 Duyuru • Aug 21
Atal S.A. to Report First Half, 2025 Results on Sep 04, 2025 Atal S.A. announced that they will report first half, 2025 results on Sep 04, 2025 Duyuru • May 23
Atal S.A., Annual General Meeting, Jun 17, 2025 Atal S.A., Annual General Meeting, Jun 17, 2025. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: zł2.32 (vs zł1.24 in 3Q 2023) Third quarter 2024 results: EPS: zł2.32 (up from zł1.24 in 3Q 2023). Revenue: zł514.2m (up 59% from 3Q 2023). Net income: zł100.5m (up 96% from 3Q 2023). Profit margin: 20% (up from 16% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Sep 06
Second quarter 2024 earnings released: EPS: zł1.34 (vs zł2.34 in 2Q 2023) Second quarter 2024 results: EPS: zł1.34 (down from zł2.34 in 2Q 2023). Revenue: zł311.0m (down 11% from 2Q 2023). Net income: zł57.7m (down 36% from 2Q 2023). Profit margin: 19% (down from 26% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year. Buy Or Sell Opportunity • Jul 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to €11.28. The fair value is estimated to be €14.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.3%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to decline by 11% in the next 2 years. New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.3% 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 1.3% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (140% cash payout ratio). Shareholders have been diluted in the past year (12% increase in shares outstanding). Upcoming Dividend • Jun 19
Upcoming dividend of zł6.00 per share Eligible shareholders must have bought the stock before 26 June 2024. Payment date: 03 July 2024. Trailing yield: 10%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (4.2%). Declared Dividend • May 27
Dividend of zł6.00 announced Shareholders will receive a dividend of zł6.00. Ex-date: 26th June 2024 Payment date: 3rd July 2024 Dividend yield will be 40%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but not covered by cash flows (117% cash payout ratio). The dividend has increased by an average of 30% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • May 25
Atal S.A., Annual General Meeting, Jun 20, 2024 Atal S.A., Annual General Meeting, Jun 20, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: zł2.23 (vs zł1.40 in 1Q 2023) First quarter 2024 results: EPS: zł2.23 (up from zł1.40 in 1Q 2023). Revenue: zł390.3m (up 106% from 1Q 2023). Net income: zł96.5m (up 78% from 1Q 2023). Profit margin: 25% (down from 29% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year. Duyuru • May 18
Atal Real Estate Launches 166 Flats for Sale in Warsaw Atal S.A. has started selling 166 flats in Warsaw in the third stage of its Osiedle Poematu project. Duyuru • Dec 30
Atal Launches Sales of 126 Apartments in Krakow Atal has launched the sales of 126 apartments in Przewoz 42 investment in Krakow. The flats on offer range from one to five bedrooms and in size from 27 to 128 square metres. Reported Earnings • Nov 22
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł323.3m (down 14% from 3Q 2022). Net income: zł51.3m (down 24% from 3Q 2022). Profit margin: 16% (down from 18% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Duyuru • Nov 18
Atal S.A. Provides Sales Guidance for 2023 Atal S.A. Provided sales guidance for 2023. For the period, company sees its sales forecast of 2.700-2.800 apartments in the entire 2023 as realistic, and the developer may spend around PLN 200 million (EUR 45.6 million) on land purchases this year. Reported Earnings • Sep 12
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł348.3m (down 26% from 2Q 2022). Net income: zł90.6m (up 19% from 2Q 2022). Profit margin: 26% (up from 16% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Germany. New Risk • Jul 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 4.0% per year for the foreseeable future. High level of non-cash earnings (27% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €11.65, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Consumer Durables industry in Germany. Total returns to shareholders of 114% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €13.12 per share. Buying Opportunity • Jun 22
Now 20% undervalued Over the last 90 days, the stock is up 28%. The fair value is estimated to be €13.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 41%. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings is forecast to decline by 5.7% per annum over the same time period. Upcoming Dividend • Jun 14
Upcoming dividend of zł5.00 per share at 12% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 03 July 2023. Trailing yield: 12%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.8%). Reported Earnings • May 18
First quarter 2023 earnings released First quarter 2023 results: Revenue: zł189.5m (down 53% from 1Q 2022). Net income: zł54.1m (down 50% from 1Q 2022). Profit margin: 29% (up from 27% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Nov 19
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł378.0m (flat on 3Q 2021). Net income: zł67.1m (down 8.6% from 3Q 2021). Profit margin: 18% (down from 19% in 3Q 2021). Revenue is expected to decline by 15% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in Germany are expected to grow by 4.9%. Duyuru • Jul 26
Atal Provides Sales Guidance for the Second Half of 2022 Atal provided sales guidance for the second half of 2022. For the second half, the company expected apartment sales to roughly match the 1,340 apartments sold in first half of 2022. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €7.18, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Consumer Durables industry in Germany. Total loss to shareholders of 20% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €12.86 per share. Duyuru • Jun 15
Atal Announces Dividend, Payable on July 4, 2022 Atal will pay out PLN 6 dividend per share or a total of PLN 232.3 million, in line with management recommendation, Rights will be set on June 23 and the payment made on July 4, 2022. Upcoming Dividend • Jun 15
Upcoming dividend of zł6.00 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 04 July 2022. Trailing yield: 7.6%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.2%). Reported Earnings • May 23
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł406.4m (up 41% from 1Q 2021). Net income: zł109.0m (up 125% from 1Q 2021). Profit margin: 27% (up from 17% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 18% compared to a 7.5% growth forecast for the industry in Germany. Duyuru • May 20
Atal S.A., Annual General Meeting, Jun 14, 2022 Atal S.A., Annual General Meeting, Jun 14, 2022, at 11:00 Central European Standard Time. Duyuru • Apr 21
Atal to Offer Dividend Payment Atal plans to offer shareholders a dividend payment of PLN 6 per share. Duyuru • Dec 19
Atal Introduces 199 Apartments in Wroclaw-Based Project Atal introduced 199 apartments in a Wroclaw-based project to its offer. Reported Earnings • Nov 20
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł378.8m (up 76% from 3Q 2020). Net income: zł73.5m (up 135% from 3Q 2020). Profit margin: 19% (up from 14% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Sep 05
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: zł364.3m (up 35% from 2Q 2020). Net income: zł67.7m (up 136% from 2Q 2020). Profit margin: 19% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 23
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: zł287.4m (up 55% from 1Q 2020). Net income: zł48.5m (up 117% from 1Q 2020). Profit margin: 17% (up from 12% in 1Q 2020). The increase in margin was driven by higher revenue.