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CCC S.A. (Market cap: PLN 6.06bn/EUR 1.41bn) – The revitalization of the Polish footwear powerhouse

Business description CCC S.A. was formally established in 1999 and has been listed on the Warsaw Stock Exchange since 2004. With over 15,000 employees and operations in 23 countries, 90 e-commerce platforms, and 979 physical stores, the company is the leading footwear retailer in Central and Eastern Europe. Since its debut on the WSE, CCC […]

Update: XTPL S.A. (Market cap PLN 341m / EUR 78m)

Progress in 2023 & results  2023 has been a very successful year for XTPL. The company signed various new distribution agreements (e.g. with Detekt Technology for Taiwan, with CWI Technical Sales & Ontos Equipment System INC for North America) and received new patents (e.g. in Malaysia, US, Germany, China, Vietnam). While the number of Delta […]

Our take on Poland after the recent elections

On October 15, 2023, the parliamentary election were held in Poland. The incumbent socially conservative political party, Law and Justice (PiS) faced strong opposition primarily from the Civic Coalition (KO), representing the centre to centre-left. The voter turnout reached 74.4%, marking the highest in the history of Third Polish Republic since 1989. Although PiS had […]

Analysis: Oponeo.pl (Market cap: EUR 137.1m) vs. Delticom (EUR 31.9m) – The two leaders in European online tire sales

This blog post marks the beginning of a series of analyses focused on Polish companies and their listed direct German counterparts. In this installment, we will delve into the examination of Oponeo.pl S.A., a company listed on the main market of the Warsaw Stock Exchange since 2007, and Delticom AG, headquartered in Hannover. Delticom AG […]

Update: XTPL S.A. (Market cap PLN 295m/EUR 65.6m)

New orders & financials so far in 2023 In Q1/23, XTPL generated revenues of PLN 3 million from sales of products and services, representing a significant year-on-year growth of 219.9%. Revenues from grants amounted to PLN 605k (compared to PLN 689k in Q1/22). The gross margin stood at 60.4% (compared to -29.4% in Q1/22). After […]

Emerging Europe is not just Poland:  An overview over other stock exchanges in the region

With currently 777 listed companies (main regulated market + the alternative NewConnect segment), a combined market capitalization of PLN 1.3tr/EUR 285.9bn and a daily turnover of PLN 1.1bn/EUR 249.1m, the Warsaw Stock Exchange is by far the largest and most liquid stock exchange in Emerging Europe.  Given the economic catchup potential of the region, other […]