1. Poland Stocks

  2. •

    Industrial services

  3. •

    Engineering & construction
PJP Makrum SA

PJP Makrum SA

GGPW:PJP
22.00
PLN
-0.50
(-2.22%)
0.28EPS
66.86P/E
112.48MMarket Cap
PJP Makrum SA
GPW:PJP
(Warsaw Stock Exchange)

Recent

price

22.00

P/E

ratio

66.86

div

yld

1.18%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
PLN
18.68
26.13
25.5
26.33
27.27
21.78
20.58
33.29
43.77
45.46
57.14
52.16
88.99
71.41
74.3
82.32
80.95
Revenue per Share
-1.88
0.18
1.21
0.64
-0.33
-1.47
-0.79
1.75
1.85
0.93
2.49
0.31
4.77
2.95
1.75
1.04
0.28
Basic EPS, GAAP
-0.3
-0.58
0.22
2.51
-2.71
0.49
-0.6
0.21
2.97
0.63
2.41
1.67
3.76
2.42
1.07
3.57
1.7
Free Cash Flow per Basic Share
- -
- -
- -
0.4
0.4
0.6
- -
- -
1.1
0.6
0.6
0.34
- -
0.51
1.4
0.51
0.26
Dividend per Share
16.72
16.92
18.1
20.06
19.28
17.03
15.22
16.85
17.64
18.01
20.02
19.98
24.82
27
27.26
27.78
26.9
Book Value per Share
16.69
16.9
18.09
19.75
18.74
16.54
15.05
10.89
11.66
12.06
14.18
14.2
19.1
21.23
21.52
6.62
5.75
Tangible Book Value per Share
6
6
6
6
6
6
6
6
6
6
6
6
6
6
6
6
6
Basic Weighted Avg Shares
113
157
154
159
164
130
123
199
262
272
342
312
532
427
444
492
483
Sales/Revenue/Turnover
-12.26
-0.35
4.2
2.07
-0.57
2.49
2.7
4.18
5.92
2.66
6.32
0.97
6.7
4.98
2.52
2.49
1.32
Operating Margin (%)
4
3
3
3
3
3
4
4
3
4
5
6
8
8
9
10
10
Depreciation Expense
-11
1
7
4
-2
-9
-5
10
11
6
15
2
29
18
10
6
2
Net Income, GAAP
- -
- -
27.73
6.38
- -
- -
- -
25.53
26.08
33.57
26.52
47.04
19.79
23.06
15.1
32.48
47.94
Effective Tax Rate (%)
-10.05
0.68
4.73
2.43
-1.22
-6.77
-3.83
5.25
4.22
2.04
4.35
0.6
5.36
4.14
2.35
1.26
0.35
Profit Margin (%)
46
49
47
46
47
40
36
17
31
25
28
8
63
87
68
121
53
Working Capital
- -
- -
- -
3
4
3
2
3
4
13
14
17
13
27
9
106
52
LT Debt
101
102
109
110
105
93
91
101
106
108
120
120
148
162
163
166
161
Total Equity
- -
- -
7.47
3.05
- -
- -
- -
11.28
11.05
4.32
11.36
0.75
14.58
6.94
4.03
2.68
1.1
Return on Invested Capital (%)
- -
- -
7.02
3.57
- -
- -
- -
9.93
9.22
4.52
10.23
1.43
16.48
9.41
6.87
3.91
2.04
Return on Capital (%)
-10.69
1.05
6.88
3.53
-1.86
-8.92
-5.13
10.89
10.71
5.21
13.07
1.57
21.3
11.4
6.44
3.77
1.04
Return on Common Equity (%)

Capital Structure

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
116
163
191
LT Borrowings
98
54
45
LT Finance Leases
8
8
8
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
6
6
6
Market Capitalization
87
107
112

Working Capital

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
386
390
419
Cash, Cash Equivalents & STI
14
23
12
Accounts Receivable, Net
84
73
88
Inventories
195
214
234
Total Current Liabilities
265
321
366
Payables & Accruals
- -
- -
- -
ST Debt
116
163
191
Deferred Revenue
- -
- -
- -

Growth Rates

PLN

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.26%
7.13%
1.88%
Free Cash Flow
137.2%
47.05%
232.4%
Net Income, GAAP
96.89%
242.67%
-40.59%
Sales/Revenue/Turnover
17.43%
11.4%
10.8%
Total Cash Common Dividend
- -
- -
-63.57%

Quarterly Revenue

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
102
114
115
113
444
2025
110
109
135
139
492
2026
87
122
- -
- -
- -

Quarterly Earnings Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.46
0.5
0.84
0.87
1.75
2025
0.12
0.33
-0.34
0.94
1.04
2026
-0.32
- -
- -
- -
- -

Quarterly Dividends Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.4
2025
- -
- -
- -
0.26
0.51
2026
- -
- -
- -
- -
- -
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Business
PJP Makrum S.A. PJP Makrum S.A. (PJP.WA) manufactures and sells industrial equipment and provides construction services, operating through segments including loading technology, crushing and grinding machines, automated parking systems, warehouse equipment, and industrial construction. The company produces docking systems such as hydraulic and mechanical dock levellers, loading ramps, dock shelters, sectional industrial doors, and high-speed shutters under the PROMStahl brand, distributed via subsidiaries PROMStahl Polska Sp. z o.o. in Poland, PROMStahl GmbH in Germany, and PROMStahl Ltd. in the UK; crushing and grinding machines including impact crushers, roller-tooth crushers, rotary dryers, and tube mills under the traditional Makrum brand for cement, mining, chemical, and paper industries; MODULO automated parking platforms addressing urban parking challenges; warehouse equipment such as forklifts and racks under the Promlift brand, complemented by IPZ; aluminum facades, joinery, lift-and-slide doors, and fire protection products under Promglass; and steel structures for industrial buildings like production halls, warehouses, office buildings, shopping centers, supermarkets, and residential projects, including installation of thermal, plumbing, ventilation, and air conditioning systems. Headquartered in Bydgoszcz, Poland, with roots tracing to 1868 via the Makrum heritage and formal establishment as a joint-stock company in 1990 following privatization, PJP Makrum S.A. lists on the Warsaw Stock Exchange since 1999 and operates in nearly 40 countries across three continents as part of the IMMOBILE S.A. Capital Group since 2016. Recent developments include the 2017 merger forming the PJP Makrum Industrial Group from PROJPRZEM, MAKRUM, and subsidiaries; the 2020 name change from PROJPRZEM MAKRUM S.A., acquisition of DPS Serwis, and launch of Promlift operations; and 2023 acquisitions of IPZ "PW" and QDS24 companies to bolster warehouse and service capabilities, alongside merger of Modulo Parking Sp. z o.o. and Promlift Sp. z o.o..