1. Poland Stocks

  2. •

    Industrial services

  3. •

    Engineering & construction
ZUE S.A.

ZUE S.A.

GGPW:ZUE
11.85
PLN
-0.25
(-2.07%)
0.34EPS
36.76P/E
277.74MMarket Cap
Dec 02Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
18.63
27.97
23.54
14.89
18.06
36.16
43.26
39.14
36.97
40.01
63.25
52.95
41.07
41.05
Basic EPS, GAAP
0.33
0.46
0.75
0.04
0.01
-2.73
0.16
0.18
0.51
0.71
0.91
0.47
0.48
0.33
Free Cash Flow per Basic Share
-0.02
2.77
4.41
-1.65
0.82
-0.96
-2.56
0.39
4.51
-2.06
5.61
-5.26
0.2
3.05
Dividend per Share
0.03
- -
- -
0.33
- -
0.01
0.02
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
8.31
8.75
9.49
9.19
9.2
6.44
6.6
6.79
7.3
7.88
8.73
9
9.49
9.59
Tangible Book Value per Share
6.36
6.82
7.67
7.4
7.43
4.69
4.61
4.81
5.23
5.79
6.68
6.99
7.5
8.08
Basic Weighted Avg Shares
22
23
23
23
23
23
23
23
23
23
23
23
23
23
Sales/Revenue/Turnover
411
644
542
343
416
833
996
901
851
921
1,457
1,219
946
940
Operating Margin (%)
0.89
2.55
5.49
-0.35
0.03
-9.38
0.74
1
1.58
1.83
1.79
1.57
2.22
1.95
Depreciation Expense
8
9
9
10
10
11
13
13
13
14
15
16
16
16
Net Income, GAAP
7
11
17
1
- -
-63
4
4
12
16
21
11
11
8
Effective Tax Rate (%)
24.97
24.42
22.2
68.55
73.97
- -
44.07
57.4
23.06
21.8
26.97
11.18
20.23
29.3
Profit Margin (%)
1.79
1.65
3.17
0.24
0.07
-7.54
0.38
0.47
1.38
1.78
1.44
0.88
1.16
0.81
Working Capital
94
93
104
91
76
1
21
38
48
41
120
86
107
107
LT Debt
10
5
11
9
11
15
26
16
14
24
72
44
39
40
Total Equity
191
201
216
209
209
147
150
155
166
181
200
206
218
220
Return on Invested Capital (%)
2.18
4.86
8.19
0.02
0.19
- -
2.53
2.58
6.5
7.81
9.75
6.61
6.94
5.09
Return on Capital (%)
4.34
4.94
7.65
0.6
0.29
- -
2.47
2.49
6.51
7.98
9.01
5.25
5.36
3.71
Return on Common Equity (%)
3.97
5.43
8.24
0.38
0.15
-35.26
2.53
2.8
7.34
9.49
11.13
5.31
5.23
3.55

Capital Structure

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
16
15
16
LT Borrowings
- -
- -
- -
LT Finance Leases
39
38
40
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
23
23
23
Market Capitalization
283
285
278

Working Capital

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
420
404
505
Cash, Cash Equivalents & STI
28
29
50
Accounts Receivable, Net
134
77
93
Inventories
41
42
95
Total Current Liabilities
313
303
398
Payables & Accruals
- -
- -
- -
ST Debt
16
15
16
Deferred Revenue
- -
- -
- -

Growth Rates

PLN

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.77%
7.1%
5.43%
Free Cash Flow
-20.97%
48.92%
-103.85%
Net Income, GAAP
-2,040.81%
39.5%
2.7%
Sales/Revenue/Turnover
11.69%
4.41%
-22.43%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
300
301
304
298
1,219
2025
180
223
288
255
946
2026
148
249
- -
- -
- -

Quarterly Earnings Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.27
-0.01
0.17
0.47
2025
-0.21
0.46
-0.02
0.26
0.48
2026
-0.18
0.28
- -
- -
- -

Quarterly Dividends Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Wieslaw Nowak
Full Time Employees
765
Sector
Industrial services
Industry
Engineering & construction
Address
Kazimierza Czapinskiego Street No. 3 Kraków MA Poland 30-048
IPO Date
Oct 1, 2010
Website
grupazue.pl
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Business
ZUE S.A. is a Poland-based general contractor specializing in the construction, modernization, and maintenance of railway, tramway, and energy infrastructure. Founded in 1991 and headquartered in Kraków at ul. Kazimierza Czapińskiego 3, the company operates primarily in Poland with expansions into Slovakia and Romania; it serves public transport authorities, railway operators, and urban infrastructure projects through its subsidiaries including PRK S.A., P.B.I. Energopol sp. z o.o., Railway gft Polska sp. z o.o., and Biuro Projektów Komunikacyjnych w Poznaniu sp. z o.o. The ZUE Capital Group delivers comprehensive turnkey solutions encompassing design, engineering, production, and execution of tram lines, railway systems, catenary networks and substations, tram tracks, power supply systems, earthworks, track beds, drainage systems, stations, depots, control rooms, lighting fixtures, street traffic lights, medium- and low-voltage electric networks, fiber optic wiring, communication networks, infrared systems, tram switch controllers, switch heating products, and tram switch drives; it also provides ongoing maintenance services for tracks, catenary, powering systems, and urban lighting. Recent developments include the October 2025 signing of a letter of intent with a significant Ukrainian partner for cooperation, a new infrastructure project contract awarded in October 2025, issuance of series G shares with set pricing in October 2025, strategic expansion into the defence sector announced on October 1, 2025, letters of intent for collaborations including with JRH AS and financing partnerships in early October 2025, acquisition of over 93% of P.B.I. Energopol sp. z o.o. in 2022 adding road, hydrotechnical, and water-sewage capabilities, entry into the Romanian market in 2022 with a dedicated branch, merger with Przedsiębiorstwo Robót Komunikacyjnych w Kraków S.A. in 2013, and a major Slovak contract worth over EUR 33 million in 2014.