Duyuru • Jun 03
Black Point S.A., Annual General Meeting, Jun 26, 2026 Black Point S.A., Annual General Meeting, Jun 26, 2026, at 14:00 Central European Standard Time. Buy Or Sell Opportunity • Apr 15
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 6.7% to zł0.35. The fair value is estimated to be zł0.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 19
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to zł0.36. The fair value is estimated to be zł0.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Meanwhile, the company became loss making. New Risk • Mar 14
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: zł19m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 63% per year over the past 5 years. Market cap is less than US$10m (zł4.15m market cap, or US$1.11m). Minor Risk Revenue is less than US$5m (zł19m revenue, or US$5.0m). Buy Or Sell Opportunity • Feb 13
Now 23% overvalued Over the last 90 days, the stock has fallen 1.1% to zł0.35. The fair value is estimated to be zł0.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Feb 10
Black Point S.A. to Report Q4, 2025 Results on Feb 13, 2026 Black Point S.A. announced that they will report Q4, 2025 results on Feb 13, 2026 New Risk • Jan 26
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 9.9% 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 (9.9% average weekly change). Earnings have declined by 63% per year over the past 5 years. Market cap is less than US$10m (zł3.36m market cap, or US$949.7k). Buy Or Sell Opportunity • Dec 01
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.4% to zł0.34. The fair value is estimated to be zł0.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 19
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł4.08m (down 28% from 3Q 2024). Net loss: zł151.6k (loss narrowed 35% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Duyuru • Nov 12
Black Point S.A. to Report Q3, 2025 Results on Nov 14, 2025 Black Point S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Reported Earnings • Aug 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł4.08m (down 28% from 2Q 2024). Net loss: zł21.9k (down 115% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 19
Full year 2024 earnings released: zł0.044 loss per share (vs zł0.03 profit in FY 2023) Full year 2024 results: zł0.044 loss per share (down from zł0.03 profit in FY 2023). Revenue: zł22.3m (down 3.8% from FY 2023). Net loss: zł530.6k (down 248% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. New Risk • Nov 29
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 7.9% 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 Dividend is not well covered by earnings and cash flows. Dividend per share is over 28x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 30% per year over the past 5 years. Market cap is less than US$10m (zł6.18m market cap, or US$1.52m). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). New Risk • Nov 24
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: 1.1% Last year net profit margin: 1.7% 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 Dividend is not well covered by earnings and cash flows. Dividend per share is over 28x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 30% per year over the past 5 years. Market cap is less than US$10m (zł7.02m market cap, or US$1.69m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Buy Or Sell Opportunity • Nov 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to zł0.63. The fair value is estimated to be zł0.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Earnings per share has declined by 55%. Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł5.71m (up 11% from 2Q 2023). Net income: zł149.6k (up zł221.1k from 2Q 2023). Profit margin: 2.6% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • Jun 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Dividend per share is over 28x earnings per share. Dividend per share is over 6x cash flows per share. Earnings have declined by 21% per year over the past 5 years. Market cap is less than US$10m (zł9.78m market cap, or US$2.41m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). New Risk • May 20
New major risk - Revenue and earnings growth Earnings have declined by 16% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Dividend per share is over 28x earnings per share. Cash payout ratio: 335% Earnings have declined by 16% per year over the past 5 years. Market cap is less than US$10m (zł9.78m market cap, or US$2.50m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Reported Earnings • May 20
Full year 2023 earnings released Full year 2023 results: Revenue: zł23.2m (down 10% from FY 2022). Net income: zł358.1k (down 59% from FY 2022). Profit margin: 1.5% (down from 3.4% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. New Risk • Apr 24
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 10.0% 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 (10.0% average weekly change). Dividend is not well covered by earnings and cash flows. Dividend per share is over 28x earnings per share. Cash payout ratio: 433% Market cap is less than US$10m (zł8.88m market cap, or US$2.21m). Minor Risks Profit margins are more than 30% lower than last year (1.7% net profit margin). Revenue is less than US$5m (zł18m revenue, or US$4.5m). Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł5.32m (up zł4.62m from 3Q 2022). Net income: zł131.2k (down 24% from 3Q 2022). Profit margin: 2.5% (down from 25% in 3Q 2022). The decrease in margin was driven by higher expenses. New Risk • Oct 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 6.9% 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 Risk Market cap is less than US$10m (zł12.5m market cap, or US$2.98m). Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (6.9% average weekly change). New Risk • Jul 01
New major 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 9.0% 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 Dividend is not well covered by earnings and cash flows. Dividend per share is over 10x earnings per share. Dividend per share is over 8x cash flows per share. Market cap is less than US$10m (zł12.5m market cap, or US$3.07m). Minor Risk Share price has been volatile over the past 3 months (9.0% average weekly change). Duyuru • Jun 04
Black Point S.A., Annual General Meeting, Jun 30, 2023 Black Point S.A., Annual General Meeting, Jun 30, 2023, at 15:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 63% share price gain to zł1.83, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 9x in the Commercial Services industry in Poland. Total returns to shareholders of 201% 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 18% share price gain to zł1.18, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 9x in the Commercial Services industry in Poland. Total returns to shareholders of 94% over the past three years. Duyuru • May 31
Black Point S.A., Annual General Meeting, Jun 24, 2022 Black Point S.A., Annual General Meeting, Jun 24, 2022, at 15:00 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: zł0.16 (down from zł0.18 in FY 2020). Revenue: zł50.6m (flat on FY 2020). Net income: zł1.90m (down 9.9% from FY 2020). Profit margin: 3.8% (down from 4.2% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment deteriorated over the past week After last week's 19% share price decline to zł1.29, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 8x in the Commercial Services industry in Poland. Total returns to shareholders of 202% over the past three years. Upcoming Dividend • Dec 08
Inaugural dividend of zł0.25 per share Eligible shareholders must have bought the stock before 13 December 2021. Payment date: 23 December 2021. The company is not currently making a profit and is not cash flow positive. The company last paid an ordinary dividend in August 2012. The average dividend yield among industry peers is 7.4%. Upcoming Dividend • Dec 02
Inaugural dividend of zł0.25 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 24 December 2021. The company last paid an ordinary dividend in August 2012. The average dividend yield among industry peers is 7.5%. 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: zł12.8m (up 16% from 2Q 2020). Net income: zł611.4k (up 121% from 2Q 2020). Profit margin: 4.8% (up from 2.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 38% share price gain to zł1.75, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 14x in the Commercial Services industry in Poland. Total returns to shareholders of 684% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 18% share price gain to zł1.44, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 13x in the Commercial Services industry in Poland. Total returns to shareholders of 707% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improved over the past week After last week's 15% share price gain to zł1.28, the stock is trading at a trailing P/E ratio of 6.8x, up from the previous P/E ratio of 5.9x. This compares to an average P/E of 14x in the Commercial Services industry in Poland. Total returns to shareholders over the past three years are 617%. Is New 90 Day High Low • Mar 09
New 90-day high: zł1.28 The company is up 24% from its price of zł1.03 on 09 December 2020. The Polish market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Commercial Services industry, which is up 30% over the same period. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS zł0.19 (vs zł0.15 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: zł53.5m (up 8.5% from FY 2019). Net income: zł2.25m (up 28% from FY 2019). Profit margin: 4.2% (up from 3.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 61% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improved over the past week After last week's 16% share price gain to zł1.17, the stock is trading at a trailing P/E ratio of 8.1x, up from the previous P/E ratio of 7x. This compares to an average P/E of 12x in the Commercial Services industry in Poland. Total returns to shareholders over the past three years are 556%. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 17% share price gain to zł1.19, the stock is trading at a trailing P/E ratio of 8.3x, up from the previous P/E ratio of 7.1x. This compares to an average P/E of 11x in the Commercial Services industry in Poland. Total returns to shareholders over the past three years are 472%. Valuation Update With 7 Day Price Move • Nov 26
Market pulls back on stock over the past week After last week's 21% share price decline to zł1.10, the stock is trading at a trailing P/E ratio of 7.6x, down from the previous P/E ratio of 9.7x. This compares to an average P/E of 11x in the Commercial Services industry in Poland. Total returns to shareholders over the past three years are 516%. Is New 90 Day High Low • Nov 19
New 90-day high: zł1.40 The company is up 22% from its price of zł1.15 on 21 August 2020. The Polish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 4.0% over the same period. Valuation Update With 7 Day Price Move • Nov 16
Market bids up stock over the past week After last week's 28% share price gain to zł1.15, the stock is trading at a trailing P/E ratio of 7.5x, up from the previous P/E ratio of 5.8x. This compares to an average P/E of 11x in the Commercial Services industry in Poland. Total returns to shareholders over the past three years are 342%. Is New 90 Day High Low • Oct 30
New 90-day low: zł0.83 The company is down 31% from its price of zł1.20 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 Commercial Services industry, which is up 6.0% over the same period.