ELT GPW sWIG80 Periodic report · PAP Biznes
Elektrotim SA (ELT) · Q2 2026 results and valuation
Share price: 60.40 zł · 2026-11-10
Results Q2 2026 vs Q2 2025 · year over year · published 15 Sep 2026 and 9 Sep 2025
Net income down 57.0% year on year. The language turned more upbeat.
Only a basic analysis is available for this company at the moment.
1 · Numbers
−57.0%
Net income vs Q2 2025
Net income 3.1M vs 7.3M
Revenue −6.8%
2 · How the report reads
More upbeat
Language tone vs last period
Report language: typical for a company report — more upbeat than in Q2 2025.
Weak signal: formal report language, not a call.
3 · What stood out
Elektrotim SA faces risks to cash flows and higher projected financial costs due to potential increases in WIBOR reference interest rates.
Valuation
Is Elektrotim SA undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 4.7% growth a year (3-year revenue growth), the model's fair value is 28.62 zł a share — the stock trades 111% above it. Today's price assumes 15.2% growth a year.
Current price
60.40 zł
close of 2026-11-10
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+15.2% for 10 yrs
Fair value / share
28.62 zł
Buy below
21.46 zł
Price vs fair value
Overvalued 111%
Price vs buy-below price
Overvalued 181%
Read between the lines
-
Dropped
The Group faces risks to cash flows and higher projected financial costs due to potential increases in WIBOR reference interest rates.
Source quote
“The above financial instruments expose the Group to cash flow risk and the risk of an increase in projected financing costs due to an increase in reference interest rates (WIBOR).”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q2 2025.
Typical for a company report — more upbeat than in Q2 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.
Full figures
PLN · PAP Biznes report (2026-09-15)
| Metric | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | 188.9M | 202.7M | −6.8% |
| Gross profit | 19.8M | 24.9M | −20.5% |
| Operating income | 5.1M | 10.6M | −52.4% |
| Net income | 3.1M | 7.3M | −57.0% |
| EPS | 0.33 | 0.73 | −54.8% |
| P/E today 21.1 | 20.1 | 9.1 | +11.0 |
Topics
Topics are drawn from the full report text, not management commentary.
Most discussed now
- No clear topics this period.
Faded since Q2 2025
- Dropped ELEKTROTIM Capital Group identifies and monitors a number of financial risks, including currency risk, interest rate risk, liquidity risk…
- Dropped The Group employs rational guarantee management, increases working capital value, and diversifies sales segments, focusing on high-margin…
- Dropped What resulted from the current commitment of financial resources in the production cycle.
- Dropped (-) (reported in the item "Other liabilities", while the reclassification reduced the amount of equity) and the net profit generated in the…
Latest announcements
Official filings, newest first.
- Informacja o uzasadnieniu przez KIO unieważnienia czynności wyboru oferty ELEKTROTIM S.A. na modernizację dwutorowej linii 110 kV - Jaworzno 1 - Siersza - Włodzimierz - Trzebinia - Jaworzno 1 - Trzebinia · ESPI 46/2026
- Informacja o wyborze oferty ELEKTROTIM S.A. przez PGE Energetyka Kolejowa na modernizację podstacji trakcyjnej 20kV Szopienice · ESPI 45/2026
- Half-year report · ESPI periodic
- Informacja o zawarciu umowy z PGE Dystrybucja S.A. na "Przebudowę linii 110 kV na terenie działalności PGE Dystrybucja S.A. Oddział Białystok - 2 części" · ESPI 44/2026
- Informacja o wyborze ofert przez TAURON Nowe Technologie S.A. O/Wrocław na "Bieżącą konserwację i eksploatację infrastruktury oświetleniowej na obszarze działania Spółki TAURON Nowe Technologie w trybie pogotowia oświetleniowego - część 1 województwo doln · ESPI 43/2026
- Informacja o zawarciu umowy z PORR Government Services Poland Sp. z o.o. na wykonanie instalacji elektrycznych w ramach inwestycji Munitions Storage Area, Powidz Air Base · ESPI 42/2026
- Informacja o zawarciu umowy z PSE S.A. na rozbudowę rozdzielni 220 kV w stacji 220/110 kV Leśniów dla przyłączenia instalacji fotowoltaicznej Niedźwiedź oraz podmiotów zewnętrznych · ESPI 41/2026
- Informacja o zawarciu umowy z ORLEN Termika S.A. - Budowa i przyłączenie do sieci przesyłowej PSE S.A. nowej rozdzielni wnętrzowej 110kV w EC Żerań · ESPI 40/2026