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Amica S.A.
Buy, Hold or Sell?

Should you buy, hold or sell Amica?

I guess you are interested in Amica S.A.. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

Let's analyse Amica

Let's start. I'm going to help you getting a better view of Amica S.A.. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is Amica S.A. even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how Amica S.A. is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Amica S.A.. The closing price on 2023-01-27 was zł87.50 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
Amica S.A. Daily Candlestick Chart
Amica S.A. Daily Candlestick Chart
Summary









1. Valuation of Amica




Current price per share

zł87.50

2. Growth of Amica




Is Amica growing?

Current yearPrevious yearGrowGrow %
How rich?$262.3m$254.9m$8.1m3.1%

How much money is Amica making?

Current yearPrevious yearGrowGrow %
Making money$1.2m$7.3m-$6.1m-499.5%
Net Profit Margin0.5%3.7%--

How much money comes from the company's main activities?

3. Financial Health of Amica




Comparing to competitors in the Furnishings, Fixtures & Appliances industry




  Industry Rankings (Furnishings, Fixtures & Appliances)  


Richest
#144 / 281

Most Revenue
#130 / 281

Most Profit
#182 / 281

Most Efficient
#196 / 281


Summary

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is not making a profit/loss.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is able to pay all its debts with equity.

1.1. Profitability of Amica S.A..

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Amica earns for each zł1 of revenue.

  • Above 10% is considered healthy but always compare Amica to the Furnishings, Fixtures & Appliances industry mean.
  • A Net Profit Margin of -0.9% means that zł-0.01 for each zł1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Amica S.A.:

  • The MRQ is -0.9%. The company is not making a profit/loss.
  • The TTM is 0.5%. The company is not making a profit/loss.
Trends
Current periodCompared to+/- 
MRQ-0.9%TTM0.5%-1.4%
TTM0.5%YOY3.7%-3.3%
TTM0.5%5Y3.2%-2.8%
5Y3.2%10Y4.0%-0.8%
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.9%4.2%-5.1%
TTM0.5%3.5%-3.0%
YOY3.7%5.3%-1.6%
5Y3.2%3.6%-0.4%
10Y4.0%3.9%+0.1%
1.1.2. Return on Assets

Shows how efficient Amica is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Amica to the Furnishings, Fixtures & Appliances industry mean.
  • -0.3% Return on Assets means that Amica generated zł0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Amica S.A.:

  • The MRQ is -0.3%. Using its assets, the company is very inefficient in making profit. -2
  • The TTM is 0.2%. Using its assets, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ-0.3%TTM0.2%-0.5%
TTM0.2%YOY1.4%-1.2%
TTM0.2%5Y1.3%-1.1%
5Y1.3%10Y1.6%-0.4%
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.3%1.2%-1.5%
TTM0.2%1.1%-0.9%
YOY1.4%1.6%-0.2%
5Y1.3%1.1%+0.2%
10Y1.6%1.3%+0.3%
1.1.3. Return on Equity

Shows how efficient Amica is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Amica to the Furnishings, Fixtures & Appliances industry mean.
  • -0.7% Return on Equity means Amica generated zł-0.01 for each zł1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Amica S.A.:

  • The MRQ is -0.7%. Using its investors money, the company is very inefficient in making profit. -2
  • The TTM is 0.5%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ-0.7%TTM0.5%-1.2%
TTM0.5%YOY2.9%-2.4%
TTM0.5%5Y2.7%-2.3%
5Y2.7%10Y3.6%-0.9%
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.7%2.5%-3.2%
TTM0.5%2.8%-2.3%
YOY2.9%3.3%-0.4%
5Y2.7%2.3%+0.4%
10Y3.6%2.5%+1.1%

1.2. Operating Efficiency of Amica S.A..

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Amica is operating .

  • Measures how much profit Amica makes for each zł1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Amica to the Furnishings, Fixtures & Appliances industry mean.
  • An Operating Margin of 2.3% means the company generated zł0.02  for each zł1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Amica S.A.:

  • The MRQ is 2.3%. The company is operating less efficient.
  • The TTM is 2.9%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ2.3%TTM2.9%-0.6%
TTM2.9%YOY5.3%-2.5%
TTM2.9%5Y4.8%-1.9%
5Y4.8%10Y5.3%-0.5%
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ2.3%4.6%-2.3%
TTM2.9%4.4%-1.5%
YOY5.3%6.8%-1.5%
5Y4.8%5.1%-0.3%
10Y5.3%4.1%+1.2%
1.2.2. Operating Ratio

Measures how efficient Amica is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Furnishings, Fixtures & Appliances industry mean).
  • An Operation Ratio of 1.00 means that the operating costs are zł1.00 for each zł1 in net sales.

Let's take a look of the Operating Ratio trends of Amica S.A.:

  • The MRQ is 1.001. The company is inefficient in keeping operating costs low. -1
  • The TTM is 0.992. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ1.001TTM0.992+0.009
TTM0.992YOY0.947+0.045
TTM0.9925Y0.956+0.036
5Y0.95610Y0.946+0.009
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ1.0011.572-0.571
TTM0.9921.533-0.541
YOY0.9471.433-0.486
5Y0.9561.296-0.340
10Y0.9461.091-0.145

1.3. Liquidity of Amica S.A..

1.3. Liquidity
1.3.1. Current Ratio

Measures if Amica is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Furnishings, Fixtures & Appliances industry mean).
  • A Current Ratio of 1.50 means the company has zł1.50 in assets for each zł1 in short-term debts.

Let's take a look of the Current Ratio trends of Amica S.A.:

  • The MRQ is 1.498. The company is just able to pay all its short-term debts.
  • The TTM is 1.510. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ1.498TTM1.510-0.012
TTM1.510YOY1.513-0.003
TTM1.5105Y1.454+0.056
5Y1.45410Y1.395+0.059
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ1.4981.559-0.061
TTM1.5101.546-0.036
YOY1.5131.571-0.058
5Y1.4541.490-0.036
10Y1.3951.270+0.125
1.3.2. Quick Ratio

Measures if Amica is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Amica to the Furnishings, Fixtures & Appliances industry mean.
  • A Quick Ratio of 0.70 means the company can pay off zł0.70 for each zł1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Amica S.A.:

  • The MRQ is 0.701. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.704. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.701TTM0.704-0.003
TTM0.704YOY0.875-0.171
TTM0.7045Y0.563+0.141
5Y0.56310Y0.343+0.220
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7010.612+0.089
TTM0.7040.599+0.105
YOY0.8750.665+0.210
5Y0.5630.627-0.064
10Y0.3430.618-0.275

1.4. Solvency of Amica S.A..

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Amica assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Amica to Furnishings, Fixtures & Appliances industry mean.
  • A Debt to Asset Ratio of 0.54 means that Amica assets are financed with 53.6% credit (debt) and the remaining percentage (100% - 53.6%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Amica S.A.:

  • The MRQ is 0.536. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.539. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.536TTM0.539-0.003
TTM0.539YOY0.518+0.021
TTM0.5395Y0.535+0.004
5Y0.53510Y0.541-0.005
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ0.5360.501+0.035
TTM0.5390.498+0.041
YOY0.5180.488+0.030
5Y0.5350.462+0.073
10Y0.5410.459+0.082
1.4.2. Debt to Equity Ratio

Measures if Amica is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Amica to the Furnishings, Fixtures & Appliances industry mean.
  • A Debt to Equity ratio of 115.7% means that company has zł1.16 debt for each zł1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Amica S.A.:

  • The MRQ is 1.157. The company is able to pay all its debts with equity. +1
  • The TTM is 1.173. The company is able to pay all its debts with equity. +1
Trends
Current periodCompared to+/- 
MRQ1.157TTM1.173-0.016
TTM1.173YOY1.079+0.094
TTM1.1735Y1.160+0.013
5Y1.16010Y1.183-0.024
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ1.1570.992+0.165
TTM1.1731.004+0.169
YOY1.0790.946+0.133
5Y1.1600.934+0.226
10Y1.1830.915+0.268

2. Market Valuation of Amica S.A.

2. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every zł1 in earnings Amica generates.

  • Above 15 is considered overpriced but always compare Amica to the Furnishings, Fixtures & Appliances industry mean.
  • A PE ratio of -64.03 means the investor is paying zł-64.03 for every zł1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Amica S.A.:

  • The EOD is -86.058. Company is losing money. -2
  • The MRQ is -64.027. Company is losing money. -2
  • The TTM is 118.963. Seems overpriced? -1
Trends
Current periodCompared to+/- 
EOD-86.058MRQ-64.027-22.031
MRQ-64.027TTM118.963-182.990
TTM118.963YOY41.001+77.963
TTM118.9635Y53.880+65.083
5Y53.88010Y51.356+2.523
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
EOD-86.05841.468-127.526
MRQ-64.02742.341-106.368
TTM118.96351.189+67.774
YOY41.00149.308-8.307
5Y53.88044.391+9.489
10Y51.35639.577+11.779
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Amica.

  • Lower is better.
  • A PEG ratio of 1 means the market price of the stock and the expected future earnings are on par.

Let's take a look of the Price Earnings to Growth Ratio trends of Amica S.A.:

  • The MRQ is -69.848. Very Bad. -2
  • The TTM is 917.044. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ-69.848TTM917.044-986.892
TTM917.044YOY54.729+862.316
TTM917.0445Y224.825+692.220
5Y224.82510Y146.137+78.688
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
MRQ-69.8480.417-70.265
TTM917.0440.141+916.903
YOY54.7290.054+54.675
5Y224.8250.165+224.660
10Y146.1370.152+145.985

2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Amica is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Furnishings, Fixtures & Appliances industry mean).
  • A PB ratio of 0.44 means the investor is paying zł0.44 for each zł1 in book value.

Let's take a look of the Price to Book Ratio trends of Amica S.A.:

  • The EOD is 0.592. Very good. +2
  • The MRQ is 0.440. Very good. +2
  • The TTM is 3.069. Neutral. Compare to industry.
Trends
Current periodCompared to+/- 
EOD0.592MRQ0.440+0.151
MRQ0.440TTM3.069-2.628
TTM3.069YOY1.052+2.017
TTM3.0695Y1.471+1.598
5Y1.47110Y1.677-0.206
Compared to industry (Furnishings, Fixtures & Appliances)
PeriodCompanyIndustry (mean)+/- 
EOD0.5921.496-0.904
MRQ0.4401.577-1.137
TTM3.0691.966+1.103
YOY1.0522.030-0.978
5Y1.4711.780-0.309
10Y1.6771.445+0.232
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Amica S.A. compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share---0.4431.536-129%2.469-118%2.695-116%2.406-118%
Book Value Growth--0.9971.004-1%1.026-3%1.023-3%1.027-3%
Book Value Per Share--147.860113.700+30%142.658+4%118.878+24%95.429+55%
Book Value Per Share Growth--0.9974.003-75%1.019-2%1.622-39%1.327-25%
Current Ratio--1.4981.510-1%1.513-1%1.454+3%1.395+7%
Debt To Asset Ratio--0.5360.539-1%0.518+4%0.535+0%0.541-1%
Debt To Equity Ratio--1.1571.173-1%1.079+7%1.1600%1.183-2%
Dividend Per Share--3.4802.672+30%5.877-41%2.250+55%1.226+184%
Dividend Per Share Growth--1.0004.018-75%1.245-20%2.205-55%14.803-93%
Eps---1.017-0.311-69%4.121-125%3.080-133%3.177-132%
Eps Growth--0.9170.003+29298%0.792+16%0.9170%1.144-20%
Free Cash Flow Per Share--8.3175.892+41%-5.396+165%3.441+142%2.111+294%
Free Cash Flow Per Share Growth--0.403-2.088+618%-0.168+142%2.878-86%1.789-77%
Free Cash Flow To Equity Per Share--4.9532.021+145%-5.017+201%0.187+2543%0.383+1193%
Free Cash Flow To Equity Per Share Growth--1.6314.547-64%0.013+12720%-13.804+946%-13.410+922%
Gross Profit Margin--16.077-1.099+107%-2.430+115%-2.022+113%-1.791+111%
Intrinsic Value_10Y_max--3465.720--------
Intrinsic Value_10Y_min--158.745--------
Intrinsic Value_1Y_max--70.527--------
Intrinsic Value_1Y_min--9.774--------
Intrinsic Value_3Y_max--422.830--------
Intrinsic Value_3Y_min--34.852--------
Intrinsic Value_5Y_max--1029.428--------
Intrinsic Value_5Y_min--65.752--------
Net Profit Margin---0.0090.005-303%0.037-125%0.032-129%0.040-123%
Operating Margin--0.0230.029-19%0.053-57%0.048-52%0.053-57%
Operating Ratio--1.0010.992+1%0.947+6%0.956+5%0.946+6%
Pb Ratio0.592+26%0.4403.069-86%1.052-58%1.471-70%1.677-74%
Pe Ratio-86.058-34%-64.027118.963-154%41.001-256%53.880-219%51.356-225%
Peg Ratio---69.848917.044-108%54.729-228%224.825-131%146.137-148%
Price Per Share87.500+26%65.10088.775-27%150.000-57%120.033-46%129.184-50%
Price To Total Gains Ratio28.810+26%21.43410.301+108%36.347-41%29.401-27%1127.192-98%
Profit Growth--0.9170.029+3103%0.799+15%0.923-1%1.147-20%
Quick Ratio--0.7010.7040%0.875-20%0.563+25%0.343+104%
Return On Assets---0.0030.002-262%0.014-123%0.013-125%0.016-119%
Return On Equity---0.0070.005-249%0.029-124%0.027-125%0.036-119%
Revenue Growth--1.0651.008+6%1.000+6%1.020+4%1.028+4%
Total Gains Per Share--3.0374.208-28%8.346-64%4.945-39%3.632-16%
Total Gains Per Share Growth--0.806-5.936+836%1.343-40%0.033+2356%19.657-96%
Usd Book Value--262363590.000263126880.0000%254933077.500+3%224165505.240+17%176641728.300+49%
Usd Book Value Change Per Share---0.1030.355-129%0.571-118%0.623-116%0.556-118%
Usd Book Value Per Share--34.20026.299+30%32.997+4%27.496+24%22.073+55%
Usd Dividend Per Share--0.8050.618+30%1.359-41%0.520+55%0.284+184%
Usd Eps---0.235-0.072-69%0.953-125%0.712-133%0.735-132%
Usd Free Cash Flow--14756940.0008881920.000+66%-9714600.000+166%5792145.210+155%3599317.125+310%
Usd Free Cash Flow Per Share--1.9241.363+41%-1.248+165%0.796+142%0.488+294%
Usd Free Cash Flow To Equity Per Share--1.1460.467+145%-1.160+201%0.043+2543%0.089+1193%
Usd Price Per Share20.239+26%15.05820.534-27%34.695-57%27.764-46%29.880-50%
Usd Profit---1804140.0001225890.000-247%7349557.500-125%5852988.675-131%5863790.385-131%
Usd Revenue--195934230.000202347022.500-3%194101177.500+1%181647835.155+8%152116596.090+29%
Usd Total Gains Per Share--0.7020.973-28%1.930-64%1.144-39%0.840-16%
 EOD+3 -2MRQTTM+22 -21YOY+19 -245Y+22 -2110Y+22 -21

3.2. Fundamental Score

Let's check the fundamental score of Amica S.A. based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-15-86.058
Price to Book Ratio (EOD)Between0-10.592
Net Profit Margin (MRQ)Greater than0-0.009
Operating Margin (MRQ)Greater than00.023
Quick Ratio (MRQ)Greater than10.701
Current Ratio (MRQ)Greater than11.498
Debt to Asset Ratio (MRQ)Less than10.536
Debt to Equity Ratio (MRQ)Less than11.157
Return on Equity (MRQ)Greater than0.15-0.007
Return on Assets (MRQ)Greater than0.05-0.003
Total4/10 (40.0%)

3.3. Technical Score

Let's check the technical score of Amica S.A. based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
OpenGreater thanClose87.800
Total1/1 (100.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2021-09-302021-12-312022-03-312022-06-302022-09-30
Income before Tax  28,60012,80041,400-37,5003,900-2,5001,400-7,800-6,400



Latest Balance Sheet

Balance Sheet of 2022-09-30. Currency in PLN. All numbers in thousands.

Summary
Total Assets2,444,600
Total Liabilities1,310,300
Total Stockholder Equity1,132,800
 As reported
Total Liabilities 1,310,300
Total Stockholder Equity+ 1,132,800
Total Assets = 2,444,600

Assets

Total Assets2,444,600
Total Current Assets1,641,300
Long-term Assets1,641,300
Total Current Assets
Cash And Cash Equivalents 132,200
Net Receivables 635,600
Inventory 784,100
Total Current Assets  (as reported)1,641,300
Total Current Assets  (calculated)1,551,900
+/- 89,400
Long-term Assets
Property Plant Equipment 506,400
Goodwill 45,400
Intangible Assets 161,900
Other Assets 145,600
Long-term Assets  (as reported)803,300
Long-term Assets  (calculated)859,300
+/- 56,000

Liabilities & Shareholders' Equity

Total Current Liabilities1,096,000
Long-term Liabilities214,300
Total Stockholder Equity1,132,800
Total Current Liabilities
Short-term Debt 169,200
Short Long Term Debt 140,200
Accounts payable 746,100
Other Current Liabilities 121,600
Total Current Liabilities  (as reported)1,096,000
Total Current Liabilities  (calculated)1,177,100
+/- 81,100
Long-term Liabilities
Long term Debt 102,200
Capital Lease Obligations 71,800
Other Liabilities 69,300
Deferred Long Term Liability 4,700
Long-term Liabilities  (as reported)214,300
Long-term Liabilities  (calculated)248,000
+/- 33,700
Total Stockholder Equity
Common Stock15,600
Retained Earnings 26,600
Other Stockholders Equity 1,090,600
Total Stockholder Equity (as reported)1,132,800
Total Stockholder Equity (calculated)1,132,800
+/-0
Other
Capital Stock15,600
Cash and Short Term Investments 132,200
Common Stock Shares Outstanding 7,671
Liabilities and Stockholders Equity 2,443,100
Net Debt 182,000
Net Invested Capital 1,375,200
Net Tangible Assets 960,100
Net Working Capital 545,300
Short Long Term Debt Total 314,200



Balance Sheet

Currency in PLN. All numbers in thousands.

 Trend2022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-31
> Total Assets 
0
0
0
940,423
796,601
739,632
749,146
780,154
793,101
786,724
834,223
796,893
818,498
849,160
864,880
847,919
842,432
887,810
1,010,305
933,112
1,000,056
1,085,248
1,137,435
1,093,863
1,149,504
1,189,279
1,192,230
1,416,160
1,410,918
1,498,497
1,532,327
1,491,545
1,644,156
1,737,268
1,802,091
1,728,047
1,732,331
1,818,089
1,852,675
1,827,944
1,882,422
1,885,884
2,039,638
1,933,787
1,900,700
1,879,200
2,161,700
2,191,700
2,258,300
2,221,600
2,483,600
2,585,600
2,440,900
2,407,100
2,444,600
2,444,6002,407,1002,440,9002,585,6002,483,6002,221,6002,258,3002,191,7002,161,7001,879,2001,900,7001,933,7872,039,6381,885,8841,882,4221,827,9441,852,6751,818,0891,732,3311,728,0471,802,0911,737,2681,644,1561,491,5451,532,3271,498,4971,410,9181,416,1601,192,2301,189,2791,149,5041,093,8631,137,4351,085,2481,000,056933,1121,010,305887,810842,432847,919864,880849,160818,498796,893834,223786,724793,101780,154749,146739,632796,601940,423000
   > Total Current Assets 
0
0
0
691,189
550,575
475,003
481,759
511,203
515,653
509,035
547,097
465,848
491,184
508,100
501,774
487,112
476,899
533,045
592,259
535,340
603,842
687,242
739,099
684,376
737,040
752,346
744,736
897,196
884,224
963,671
981,764
959,519
1,079,281
1,096,145
1,141,030
1,095,040
1,095,794
1,153,186
1,192,578
1,169,470
1,190,310
1,205,663
1,329,818
1,223,651
1,193,600
1,153,500
1,431,700
1,461,300
1,516,200
1,475,500
1,718,300
1,811,500
1,667,600
1,620,900
1,641,300
1,641,3001,620,9001,667,6001,811,5001,718,3001,475,5001,516,2001,461,3001,431,7001,153,5001,193,6001,223,6511,329,8181,205,6631,190,3101,169,4701,192,5781,153,1861,095,7941,095,0401,141,0301,096,1451,079,281959,519981,764963,671884,224897,196744,736752,346737,040684,376739,099687,242603,842535,340592,259533,045476,899487,112501,774508,100491,184465,848547,097509,035515,653511,203481,759475,003550,575691,189000
       Cash And Cash Equivalents 
0
0
0
44,649
106,941
50,099
32,523
26,473
32,544
21,110
39,485
22,959
10,356
14,145
12,509
75,191
33,795
36,381
20,670
25,690
20,904
28,326
39,193
55,684
69,789
60,966
31,848
66,580
65,928
74,675
69,566
85,314
96,907
57,677
73,306
91,555
95,127
44,670
84,685
76,044
67,080
59,299
78,564
95,694
80,600
159,000
227,300
267,000
232,500
107,600
73,000
59,900
62,700
88,600
132,200
132,20088,60062,70059,90073,000107,600232,500267,000227,300159,00080,60095,69478,56459,29967,08076,04484,68544,67095,12791,55573,30657,67796,90785,31469,56674,67565,92866,58031,84860,96669,78955,68439,19328,32620,90425,69020,67036,38133,79575,19112,50914,14510,35622,95939,48521,11032,54426,47332,52350,099106,94144,649000
       Short-term Investments 
0
0
0
2,301
2,624
1,787
4,858
3,201
72
913
10,269
15,545
7,603
7,095
8,449
11,662
16,426
0
12,436
2,064
4,862
4,409
3,706
2,767
5,099
3,816
11,194
9,384
11,675
10,958
10,566
9,183
11,362
10,088
9,248
12,004
13,881
12,833
11,639
10,964
2,405
2,773
794
25
2,300
1,600
800
0
0
0
4,300
0
0
0
0
00004,3000008001,6002,300257942,7732,40510,96411,63912,83313,88112,0049,24810,08811,3629,18310,56610,95811,6759,38411,1943,8165,0992,7673,7064,4094,8622,06412,436016,42611,6628,4497,0957,60315,54510,269913723,2014,8581,7872,6242,301000
       Net Receivables 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
669,800
565,300
523,500
498,700
701,500
746,800
666,100
637,900
810,100
878,400
689,100
607,800
635,600
635,600607,800689,100878,400810,100637,900666,100746,800701,500498,700523,500565,300669,800000000000000000000000000000000000000000000
       Other Current Assets 
0
0
0
471,852
289,287
258,697
281,826
298,884
279,075
258,409
272,767
252,229
289,984
249,003
276,307
244,841
242,392
265,569
326,283
306,965
330,366
351,266
420,250
395,099
402,322
364,472
401,089
474,301
436,010
471,749
535,237
526,061
564,609
559,591
612,640
584,293
554,934
603,786
633,960
634,949
632,405
622,675
764,568
659,672
660,600
588,000
786,600
772,800
762,500
737,600
919,800
940,000
807,800
706,800
725,000
725,000706,800807,800940,000919,800737,600762,500772,800786,600588,000660,600659,672764,568622,675632,405634,949633,960603,786554,934584,293612,640559,591564,609526,061535,237471,749436,010474,301401,089364,472402,322395,099420,250351,266330,366306,965326,283265,569242,392244,841276,307249,003289,984252,229272,767258,409279,075298,884281,826258,697289,287471,852000
   > Long-term Assets 
0
0
0
249,234
246,026
264,629
267,387
268,951
277,448
277,689
287,126
331,045
327,314
341,060
363,106
360,807
365,533
354,765
418,046
397,772
396,214
398,006
398,336
409,487
412,464
436,933
447,494
518,964
526,694
534,826
550,563
532,026
564,875
641,123
661,061
633,007
636,537
664,903
660,097
658,474
692,112
680,221
709,820
710,136
707,100
725,700
730,000
730,400
742,100
746,100
765,300
774,100
773,300
786,200
803,300
803,300786,200773,300774,100765,300746,100742,100730,400730,000725,700707,100710,136709,820680,221692,112658,474660,097664,903636,537633,007661,061641,123564,875532,026550,563534,826526,694518,964447,494436,933412,464409,487398,336398,006396,214397,772418,046354,765365,533360,807363,106341,060327,314331,045287,126277,689277,448268,951267,387264,629246,026249,234000
       Property Plant Equipment 
0
0
0
111,003
108,045
113,459
116,557
175,709
180,018
185,645
191,984
196,349
201,336
205,085
233,360
235,647
233,296
238,711
252,714
254,091
251,446
256,029
261,998
232,316
239,240
255,571
263,267
276,534
276,603
280,864
290,780
306,813
327,238
349,120
366,861
367,094
377,106
380,473
392,397
402,222
435,744
431,823
435,967
444,951
442,500
443,900
444,000
446,400
469,700
453,600
469,400
497,800
512,500
493,900
506,400
506,400493,900512,500497,800469,400453,600469,700446,400444,000443,900442,500444,951435,967431,823435,744402,222392,397380,473377,106367,094366,861349,120327,238306,813290,780280,864276,603276,534263,267255,571239,240232,316261,998256,029251,446254,091252,714238,711233,296235,647233,360205,085201,336196,349191,984185,645180,018175,709116,557113,459108,045111,003000
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
22,903
23,348
0
26,272
23,724
23,740
23,746
23,775
23,893
23,637
23,788
23,850
45,599
45,609
43,392
41,637
42,598
41,538
41,628
42,006
39,639
40,046
41,239
40,431
40,492
41,556
40,086
41,296
41,062
41,900
41,500
41,900
43,000
44,500
43,100
43,900
44,200
44,300
44,400
45,400
45,40044,40044,30044,20043,90043,10044,50043,00041,90041,50041,90041,06241,29640,08641,55640,49240,43141,23940,04639,63942,00641,62841,53842,59841,63743,39245,60945,59923,85023,78823,63723,89323,77523,74623,74023,72426,272023,34822,903000000000000000
       Intangible Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
17,147
18,177
21,700
21,560
22,577
22,373
23,703
23,266
24,975
24,273
24,329
23,942
92,960
85,597
91,482
84,172
87,217
86,869
104,759
106,474
103,937
104,103
106,895
104,468
105,082
109,060
103,797
131,882
132,368
135,800
132,500
133,700
138,100
120,400
140,100
142,500
148,600
131,200
153,700
161,900
161,900153,700131,200148,600142,500140,100120,400138,100133,700132,500135,800132,368131,882103,797109,060105,082104,468106,895104,103103,937106,474104,75986,86987,21784,17291,48285,59792,96023,94224,32924,27324,97523,26623,70322,37322,57721,56021,70018,17717,147000000000000000
       Other Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
99,700
92,200
91,900
88,200
90,800
119,300
106,800
129,600
127,400
121,900
84,900
144,100
145,600
145,600144,10084,900121,900127,400129,600106,800119,30090,80088,20091,90092,20099,700000000000000000000000000000000000000000000
> Total Liabilities 
0
0
0
663,812
506,490
460,647
453,334
475,392
486,345
505,195
538,073
436,059
443,918
471,994
463,471
426,951
403,965
512,046
563,846
461,901
519,689
615,793
616,711
559,938
571,217
632,594
621,047
822,592
787,214
883,357
882,667
814,795
938,062
1,031,189
1,072,037
980,582
965,387
1,019,925
1,046,341
993,161
999,586
1,038,193
1,151,008
1,011,338
950,900
911,700
1,150,300
1,123,200
1,131,400
1,126,600
1,365,300
1,442,700
1,305,400
1,269,400
1,310,300
1,310,3001,269,4001,305,4001,442,7001,365,3001,126,6001,131,4001,123,2001,150,300911,700950,9001,011,3381,151,0081,038,193999,586993,1611,046,3411,019,925965,387980,5821,072,0371,031,189938,062814,795882,667883,357787,214822,592621,047632,594571,217559,938616,711615,793519,689461,901563,846512,046403,965426,951463,471471,994443,918436,059538,073505,195486,345475,392453,334460,647506,490663,812000
   > Total Current Liabilities 
0
0
0
564,462
393,716
344,220
322,769
412,253
463,830
442,373
390,799
365,132
401,065
438,873
424,198
371,137
345,052
451,160
508,381
410,303
470,213
565,152
570,951
493,801
501,261
552,680
539,141
629,460
608,947
713,006
718,868
671,628
784,414
850,091
873,341
799,807
776,653
856,645
881,194
843,692
832,082
878,536
989,247
867,838
786,400
735,200
966,400
967,600
971,900
968,500
1,178,200
1,228,200
1,092,200
1,052,100
1,096,000
1,096,0001,052,1001,092,2001,228,2001,178,200968,500971,900967,600966,400735,200786,400867,838989,247878,536832,082843,692881,194856,645776,653799,807873,341850,091784,414671,628718,868713,006608,947629,460539,141552,680501,261493,801570,951565,152470,213410,303508,381451,160345,052371,137424,198438,873401,065365,132390,799442,373463,830412,253322,769344,220393,716564,462000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
325,200
267,457
362,170
410,699
60,678
66,373
98,123
115,398
49,404
55,887
58,314
63,829
76,509
95,240
100,648
111,024
74,537
101,916
152,739
231,806
124,932
131,908
135,915
189,384
126,286
187,314
222,021
272,012
190,349
150,000
119,000
99,700
89,200
107,100
146,100
211,600
207,000
264,900
155,800
169,200
169,200155,800264,900207,000211,600146,100107,10089,20099,700119,000150,000190,349272,012222,021187,314126,286189,384135,915131,908124,932231,806152,739101,91674,537111,024100,64895,24076,50963,82958,31455,88749,404115,39898,12366,37360,678410,699362,170267,457325,200000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
107,300
110,100
151,200
186,100
181,000
238,000
128,300
140,200
140,200128,300238,000181,000186,100151,200110,100107,30000000000000000000000000000000000000000000000000
       Accounts payable 
0
0
0
0
0
0
0
0
399,431
384,421
0
328,584
0
366,022
323,200
0
0
0
0
228,861
215,086
236,797
245,294
293,534
242,759
274,241
247,575
355,228
282,339
315,470
295,925
366,761
361,057
371,635
333,493
498,138
364,494
416,360
395,479
465,163
374,787
389,149
393,537
412,196
357,200
394,600
572,700
649,700
633,900
630,100
792,300
851,500
645,600
702,100
746,100
746,100702,100645,600851,500792,300630,100633,900649,700572,700394,600357,200412,196393,537389,149374,787465,163395,479416,360364,494498,138333,493371,635361,057366,761295,925315,470282,339355,228247,575274,241242,759293,534245,294236,797215,086228,8610000323,200366,0220328,5840384,421399,43100000000
       Other Current Liabilities 
0
0
0
564,462
393,716
344,220
322,769
412,253
64,399
57,952
390,799
36,548
401,065
72,851
100,998
45,937
77,595
88,990
97,682
115,260
185,365
229,173
208,968
150,863
202,615
220,125
223,970
194,827
231,368
284,113
288,503
213,485
298,845
311,122
292,233
166,227
280,251
297,755
287,172
242,735
269,981
265,768
258,454
220,109
273,300
161,400
214,600
169,600
165,900
138,000
104,200
122,400
124,700
142,200
121,600
121,600142,200124,700122,400104,200138,000165,900169,600214,600161,400273,300220,109258,454265,768269,981242,735287,172297,755280,251166,227292,233311,122298,845213,485288,503284,113231,368194,827223,970220,125202,615150,863208,968229,173185,365115,26097,68288,99077,59545,937100,99872,851401,06536,548390,79957,95264,399412,253322,769344,220393,716564,462000
   > Long-term Liabilities 
0
0
0
99,350
112,774
116,427
130,565
63,139
22,515
62,822
147,274
70,927
42,853
33,121
39,273
55,814
58,913
60,886
55,465
51,598
49,476
50,641
45,760
66,137
69,956
79,914
81,906
193,132
178,267
170,351
163,799
143,167
153,648
181,098
198,696
180,775
188,734
163,280
165,147
149,469
167,504
159,657
161,761
143,500
164,500
176,500
183,900
155,600
159,500
158,100
187,100
214,500
213,200
217,300
214,300
214,300217,300213,200214,500187,100158,100159,500155,600183,900176,500164,500143,500161,761159,657167,504149,469165,147163,280188,734180,775198,696181,098153,648143,167163,799170,351178,267193,13281,90679,91469,95666,13745,76050,64149,47651,59855,46560,88658,91355,81439,27333,12142,85370,927147,27462,82222,51563,139130,565116,427112,77499,350000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
149,700
123,000
133,600
131,600
133,400
0
0
0
0
0
0
0
0
00000000133,400131,600133,600123,000149,700000000000000000000000000000000000000000000
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
41,900
51,800
56,200
59,500
58,200
63,000
70,300
69,300
69,30070,30063,00058,20059,50056,20051,80041,90000000000000000000000000000000000000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
7,100
0
6,500
5,800
5,200
0
5,200
4,700
4,7005,20005,2005,8006,50007,10000000000000000000000000000000000000000000000000
> Total Stockholder Equity
0
0
0
276,609
290,109
278,983
295,810
304,977
306,914
281,677
296,458
361,141
374,887
377,610
402,011
421,619
439,157
402,826
447,258
472,217
481,356
470,455
521,717
535,218
579,542
557,892
572,391
594,848
624,993
616,352
650,931
678,517
707,391
707,293
731,233
747,227
766,606
797,639
805,441
834,138
882,035
845,689
886,549
920,232
947,600
965,400
1,009,100
1,066,000
1,124,200
1,092,200
1,116,300
1,140,700
1,133,300
1,135,700
1,132,800
1,132,8001,135,7001,133,3001,140,7001,116,3001,092,2001,124,2001,066,0001,009,100965,400947,600920,232886,549845,689882,035834,138805,441797,639766,606747,227731,233707,293707,391678,517650,931616,352624,993594,848572,391557,892579,542535,218521,717470,455481,356472,217447,258402,826439,157421,619402,011377,610374,887361,141296,458281,677306,914304,977295,810278,983290,109276,609000
   Common Stock
0
0
0
17,475
17,475
17,475
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,551
15,600
15,600
15,600
15,600
15,600
15,600
15,600
15,600
15,600
15,600
15,600
15,60015,60015,60015,60015,60015,60015,60015,60015,60015,60015,60015,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55115,55117,47517,47517,475000
   Retained Earnings Total Equity0000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 0000000000000000000000000000000000000000000000000000000
   Capital Surplus 0000000000000000000000000000000000000000000000000000000
   Treasury Stock00000-24,20000-25,700-30,0000-30,000-30,000000000000000000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
271,576
285,121
282,731
297,142
298,238
295,249
291,838
286,065
290,247
291,769
332,596
347,836
351,189
356,251
352,792
357,129
349,789
347,502
413,032
440,131
431,215
455,350
475,492
458,342
454,532
455,942
509,404
511,280
515,028
518,534
576,559
581,766
565,786
567,641
718,928
698,767
691,352
725,241
792,734
801,241
800,789
811,900
806,300
894,400
906,400
930,300
1,004,500
1,005,400
996,700
985,700
1,085,700
1,090,600
1,090,6001,085,700985,700996,7001,005,4001,004,500930,300906,400894,400806,300811,900800,789801,241792,734725,241691,352698,767718,928567,641565,786581,766576,559518,534515,028511,280509,404455,942454,532458,342475,492455,350431,215440,131413,032347,502349,789357,129352,792356,251351,189347,836332,596291,769290,247286,065291,838295,249298,238297,142282,731285,121271,576000



Balance Sheet

Currency in PLN. All numbers in thousands.




Cash Flow

Currency in PLN. All numbers in thousands.




Income Statement

Currency in PLN. All numbers in thousands.