New Risk • May 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 12% 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 (12% average weekly change). Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Market cap is less than US$10m (zł20.5m market cap, or US$5.71m). Valuation Update With 7 Day Price Move • May 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to zł51.40, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 6x in the Electric Utilities industry in Poland. Total returns to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł62.40, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 16x in the Electric Utilities industry in Poland. Total returns to shareholders of 112% over the past three years. New Risk • Dec 19
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 9.0% 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 (9.0% average weekly change). Shareholders have been substantially diluted in the past year (75% increase in shares outstanding). Market cap is less than US$10m (zł17.9m market cap, or US$5.00m). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to zł65.60, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 14x in the Electric Utilities industry in Poland. Total returns to shareholders of 82% over the past three years. Duyuru • Dec 04
Wise Energy S.A., Annual General Meeting, Dec 30, 2025 Wise Energy S.A., Annual General Meeting, Dec 30, 2025, at 12:00 Central European Standard Time. Reported Earnings • Dec 01
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł28.5m (down 17% from 3Q 2024). Net income: zł2.50m (up zł4.14m from 3Q 2024). Profit margin: 8.7% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. New Risk • Oct 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 305% 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 Shareholders have been substantially diluted in the past year (75% increase in shares outstanding). Market cap is less than US$10m (zł31.9m market cap, or US$8.68m). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). New Risk • Oct 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: 3.6% Last year net profit margin: 9.8% 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 Shareholders have been substantially diluted in the past year (75% increase in shares outstanding). Market cap is less than US$10m (zł31.1m market cap, or US$8.57m). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin). Reported Earnings • Oct 03
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: zł28.3m (down 31% from 2Q 2024). Net income: zł1.42m (down 22% from 2Q 2024). Profit margin: 5.0% (up from 4.4% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 85% per year, which means it is well ahead of earnings. Duyuru • Aug 25
Wise Energy S.A. to Report First Half, 2025 Results on Sep 26, 2025 Wise Energy S.A. announced that they will report first half, 2025 results on Sep 26, 2025 New Risk • Aug 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł35.9m (US$9.70m) 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 7.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (75% increase in shares outstanding). Market cap is less than US$10m (zł35.9m market cap, or US$9.70m). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł125, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 13x in the Capital Markets industry in Poland. Total returns to shareholders of 402% over the past three years. New Risk • Jun 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 75% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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). Earnings have declined by 7.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (75% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (zł45.2m market cap, or US$12.0m). New Risk • Jun 04
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 12% 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 (12% average weekly change). Earnings have declined by 7.6% per year over the past 5 years. Market cap is less than US$10m (zł32.1m market cap, or US$8.52m). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Jun 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 Earnings have declined by 7.6% per year over the past 5 years. Market cap is less than US$10m (zł26.0m market cap, or US$6.96m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (21% increase in shares outstanding). Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to zł119, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 14x in the Capital Markets industry in Poland. Total returns to shareholders of 756% over the past three years. Reported Earnings • May 05
Full year 2024 earnings released Full year 2024 results: Revenue: zł141.7m (up 272% from FY 2023). Net income: zł9.53m (up 99% from FY 2023). Profit margin: 6.7% (down from 13% in FY 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to zł87.00, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 19x in the Capital Markets industry in Poland. Total returns to shareholders of 488% over the past three years. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to zł86.60, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 11x in the Capital Markets industry in Poland. Total returns to shareholders of 470% over the past three years. Reported Earnings • Nov 29
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: zł34.5m (up zł32.9m from 3Q 2023). Net loss: zł1.64m (loss widened 102% from 3Q 2023). Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł107, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 12x in the Capital Markets industry in Poland. Total returns to shareholders of 357% over the past three years. New Risk • Oct 07
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 Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (zł19.7m market cap, or US$5.01m). Minor Risk Profit margins are more than 30% lower than last year (9.8% net profit margin). Reported Earnings • Oct 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł40.9m (up zł38.3m from 2Q 2023). Net income: zł1.81m (up zł6.38m from 2Q 2023). Profit margin: 4.4% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 61% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 06
ONE S.A., Annual General Meeting, Oct 03, 2024 ONE S.A., Annual General Meeting, Oct 03, 2024. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł106, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 11x in the Capital Markets industry in Poland. Total returns to shareholders of 256% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to zł84.40, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 9x in the Capital Markets industry in Poland. Total returns to shareholders of 225% over the past three years. Duyuru • Jul 08
ONE S.A., Annual General Meeting, Aug 06, 2024 ONE S.A., Annual General Meeting, Aug 06, 2024. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł113, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 15x in the Capital Markets industry in Poland. Total returns to shareholders of 223% over the past three years. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to zł60.00, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 16x in the Capital Markets industry in Poland. Total returns to shareholders of 22% over the past three years. Duyuru • Oct 11
ONE S.A., Annual General Meeting, Nov 06, 2023 ONE S.A., Annual General Meeting, Nov 06, 2023, at 12:00 Central European Standard Time. Duyuru • Feb 03
ONE S.A. to Report Fiscal Year 2022 Results on Apr 17, 2023 ONE S.A. announced that they will report fiscal year 2022 results on Apr 17, 2023 Duyuru • Jun 28
ONE S.A., Annual General Meeting, Jul 29, 2022 ONE S.A., Annual General Meeting, Jul 29, 2022, at 12:00 Central European Standard Time. Reported Earnings • Dec 04
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: zł96.80 loss per share (down from zł22.42 loss in 3Q 2020). Revenue: zł7.72m (up 125% from 3Q 2020). Net loss: zł17.6m (loss widened 381% from 3Q 2020). Revenue was in line with analyst estimates. Reported Earnings • Oct 06
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: zł7.87m (up 4.0% from 2Q 2020). Net loss: zł1.30m (down 134% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 02
New 90-day high: zł49.60 The company is up 254% from its price of zł14.00 on 29 October 2020. The Polish market is up 18% 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. Is New 90 Day High Low • Nov 18
New 90-day low: zł13.10 The company is down 23% from its price of zł17.00 on 17 August 2020. The Polish market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 11% over the same period. Is New 90 Day High Low • Oct 24
New 90-day low: zł14.00 The company is down 48% from its price of zł27.00 on 24 July 2020. The Polish market is down 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 22% over the same period. Is New 90 Day High Low • Oct 06
New 90-day low: zł14.50 The company is down 48% from its price of zł28.00 on 01 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 Capital Markets industry, which is up 14% over the same period.