Reported Earnings • Jun 01
First quarter 2026 earnings released: EPS: zł0.13 (vs zł0.12 in 1Q 2025) First quarter 2026 results: EPS: zł0.13 (up from zł0.12 in 1Q 2025). Revenue: zł6.09m (up 7.4% from 1Q 2025). Net income: zł1.26m (up 8.7% from 1Q 2025). Profit margin: 21% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Duyuru • May 27
BBI Development S.A., Annual General Meeting, Jun 23, 2026 BBI Development S.A., Annual General Meeting, Jun 23, 2026. Reported Earnings • Dec 02
Third quarter 2025 earnings released: zł0.09 loss per share (vs zł0.12 loss in 3Q 2024) Third quarter 2025 results: zł0.09 loss per share (improved from zł0.12 loss in 3Q 2024). Revenue: zł3.72m (up 7.6% from 3Q 2024). Net loss: zł907.0k (loss narrowed 28% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł5.75, the stock trades at a trailing P/E ratio of 61.2x. Average trailing P/E is 22x in the Capital Markets industry in Poland. Total returns to shareholders of 49% over the past three years. Reported Earnings • Sep 30
Second quarter 2025 earnings released: zł0.45 loss per share (vs zł0.28 loss in 2Q 2024) Second quarter 2025 results: zł0.45 loss per share (further deteriorated from zł0.28 loss in 2Q 2024). Revenue: zł8.06m (up 72% from 2Q 2024). Net loss: zł4.45m (loss widened 60% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 25
BBI Development S.A. to Report First Half, 2025 Results on Sep 29, 2025 BBI Development S.A. announced that they will report first half, 2025 results on Sep 29, 2025 Reported Earnings • Jun 02
First quarter 2025 earnings released: EPS: zł0.12 (vs zł0.48 loss in 1Q 2024) First quarter 2025 results: EPS: zł0.12 (up from zł0.48 loss in 1Q 2024). Revenue: zł5.67m (up 138% from 1Q 2024). Net income: zł1.16m (up zł5.99m from 1Q 2024). Profit margin: 20% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Duyuru • May 26
BBI Development S.A., Annual General Meeting, Jun 20, 2025 BBI Development S.A., Annual General Meeting, Jun 20, 2025. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to zł4.53, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 11x in the Capital Markets industry in Poland. Total loss to shareholders of 32% over the past three years. Reported Earnings • Dec 01
Third quarter 2024 earnings released: zł0.12 loss per share (vs zł2.04 profit in 3Q 2023) Third quarter 2024 results: zł0.12 loss per share (down from zł2.04 profit in 3Q 2023). Revenue: zł3.45m (down 2.4% from 3Q 2023). Net loss: zł1.26m (down 106% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Oct 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł38.4m (US$9.83m) This is considered a major risk. Companies with a small market capitalization 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 High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (zł38.4m market cap, or US$9.83m). Minor Risk Revenue is less than US$5m (zł16m revenue, or US$4.0m). New Risk • Oct 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Revenue is less than US$5m (zł16m revenue, or US$4.0m). Market cap is less than US$100m (zł41.0m market cap, or US$10.6m). Reported Earnings • Sep 27
Second quarter 2024 earnings released: zł0.28 loss per share (vs zł0.89 profit in 2Q 2023) Second quarter 2024 results: zł0.28 loss per share (down from zł0.89 profit in 2Q 2023). Net loss: zł2.78m (down 131% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 04
First quarter 2024 earnings released: zł0.48 loss per share (vs zł0.049 loss in 1Q 2023) First quarter 2024 results: zł0.48 loss per share (further deteriorated from zł0.049 loss in 1Q 2023). Net loss: zł4.83m (loss widened zł4.33m from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Duyuru • May 25
BBI Development S.A., Annual General Meeting, Jun 18, 2024 BBI Development S.A., Annual General Meeting, Jun 18, 2024. New Risk • Apr 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł40.0m (US$9.94m) This is considered a major risk. Companies with a small market capitalization 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 High level of non-cash earnings (26% accrual ratio). Market cap is less than US$10m (zł40.0m market cap, or US$9.94m). New Risk • Feb 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% 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 Risk High level of non-cash earnings (26% accrual ratio). Minor Risk Market cap is less than US$100m (zł44.0m market cap, or US$11.0m). Duyuru • Feb 03
BBI Development S.A. to Report Q3, 2024 Results on Nov 29, 2024 BBI Development S.A. announced that they will report Q3, 2024 results on Nov 29, 2024 Reported Earnings • Nov 30
Third quarter 2023 earnings released: EPS: zł2.04 (vs zł0.05 in 3Q 2022) Third quarter 2023 results: EPS: zł2.04 (up from zł0.05 in 3Q 2022). Net income: zł20.6m (up zł20.1m from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 02
Second quarter 2023 earnings released: EPS: zł0.89 (vs zł0.35 loss in 2Q 2022) Second quarter 2023 results: EPS: zł0.89 (up from zł0.35 loss in 2Q 2022). Revenue: zł14.0m (up 418% from 2Q 2022). Net income: zł8.96m (up zł12.5m from 2Q 2022). Profit margin: 64% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 04
BBI Development S.A., Annual General Meeting, Jun 27, 2023 BBI Development S.A., Annual General Meeting, Jun 27, 2023, at 12:00 Central European Standard Time. Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: zł0.05 (vs zł0.24 loss in 3Q 2021) Third quarter 2022 results: EPS: zł0.05 (up from zł0.24 loss in 3Q 2021). Revenue: zł9.51m (up 401% from 3Q 2021). Net income: zł462.0k (up zł2.86m from 3Q 2021). Profit margin: 4.9% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 04
Second quarter 2022 earnings released: zł0.35 loss per share (vs zł0.17 loss in 2Q 2021) Second quarter 2022 results: zł0.35 loss per share (further deteriorated from zł0.17 loss in 2Q 2021). Net loss: zł3.55m (loss widened 102% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Duyuru • May 26
BBI Development S.A., Annual General Meeting, Jun 21, 2022 BBI Development S.A., Annual General Meeting, Jun 21, 2022, at 11:00 Central European Standard Time. Reported Earnings • May 03
Full year 2021 earnings released: zł0.63 loss per share (vs zł0.36 profit in FY 2020) Full year 2021 results: zł0.63 loss per share (down from zł0.36 profit in FY 2020). Revenue: zł20.9m (down 75% from FY 2020). Net loss: zł6.42m (down 275% from profit in FY 2020). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues miss analyst expectations Third quarter 2021 results: Revenue: zł1.90m (down 71% from 3Q 2020). Net loss: zł2.40m (down zł2.76m from profit in 3Q 2020). Revenue missed analyst estimates by 10.0%. 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 4% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 30
Second quarter 2021 earnings released: zł0.17 loss per share (vs zł0.68 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: zł3.90m (down 76% from 2Q 2020). Net loss: zł1.76m (down 126% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 03
First quarter 2021 earnings released: zł0.14 loss per share (vs zł0.22 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: zł11.5m (down 76% from 1Q 2020). Net loss: zł1.39m (down 162% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 17% share price gain to zł4.80, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 10x in the Capital Markets industry in Poland. Total loss to shareholders of 16% over the past three years. Is New 90 Day High Low • Jan 07
New 90-day high: zł4.12 The company is up 21% from its price of zł3.40 on 09 October 2020. The Polish market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 16% over the same period. Reported Earnings • Dec 01
Third quarter 2020 earnings released: EPS zł0.03 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: zł6.62m (up 159% from 3Q 2019). Net income: zł366.0k (up zł2.43m from 3Q 2019). Profit margin: 5.5% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 05
New 90-day low: zł3.30 The company is down 7.0% from its price of zł3.54 on 06 August 2020. The Polish market is down 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 21% over the same period. Is New 90 Day High Low • Oct 09
New 90-day low: zł3.40 The company is down 9.0% from its price of zł3.74 on 10 July 2020. The Polish market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 9.0% over the same period. Reported Earnings • Sep 30
First half earnings released Over the last 12 months the company has reported total losses of zł34.9m, with losses widening by 68% from the prior year. Total revenue was zł77.9m over the last 12 months, up by zł66.6m from the prior year. Is New 90 Day High Low • Sep 24
New 90-day low: zł3.45 The company is down 13% from its price of zł3.97 on 26 June 2020. The Polish market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 18% over the same period.