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    Chemicals - Specialty
Polwax S.A.

Polwax S.A.

PWX.WA
Polwax S.A.PL flagWarsaw Stock Exchange
1.07
PLN
+0.00
- -
65.71MMarket Cap
Polwax S.A.
PWX.WA
(Warsaw Stock Exchange)

Recent

price

1.07

P/E

ratio

- -

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
10.57
11.3
12.15
12.6
12.06
26.98
20.93
15.15
8.8
10.72
8.17
3.08
2.1
3.47
Revenue per Share
0.88
0.98
1.03
0.89
0.73
1.7
-5.4
0.21
0.15
0.27
-1.26
-0.37
-0.2
-0.1
Basic EPS, GAAP
-0.3
1.61
0.96
0.7
0.53
0.13
0.38
0.62
0.19
0.1
0.56
0.05
-0.29
-0.66
Free Cash Flow per Basic Share
0.18
0.44
0.53
0.46
- -
- -
- -
- -
- -
0.08
0.2
- -
- -
- -
Dividend per Share
0.9
1
1.05
0.91
0.75
1.75
-5.35
0.32
0.2
0.32
-1.21
-0.32
-0.15
-0.01
Book Value per Share
2.29
2.84
3.31
3.71
4.43
11.78
6.29
6.13
3
3.2
1.74
1.01
0.81
1.26
Tangible Book Value per Share
23
23
23
23
23
10
10
14
31
31
31
62
62
46
Basic Weighted Avg Shares
241
258
281
295
283
278
216
217
272
331
252
190
130
161
Sales/Revenue/Turnover
10.77
10.24
10.57
8.94
8.28
7.92
8.7
4.68
3.12
6.46
1.83
-2.45
-10.83
-4.22
Operating Margin (%)
3
3
4
5
5
5
4
4
3
3
3
3
2
3
Depreciation Expense
20
22
24
21
17
18
-56
3
5
8
-39
-23
-12
-5
Net Income, GAAP
17.78
19.35
19.3
19.41
19.3
19.28
- -
36.33
19.56
22.9
- -
- -
- -
95.07
Effective Tax Rate (%)
8.28
8.68
8.5
7.09
6.07
6.32
-25.78
1.4
1.76
2.51
-15.46
-11.97
-9.34
-2.88
Profit Margin (%)
31
39
38
45
51
7
25
53
60
66
50
34
35
45
Working Capital
10
5
1
- -
14
- -
- -
- -
- -
- -
1
1
15
- -
LT Debt
53
65
77
87
104
122
66
89
94
99
54
62
50
59
Total Equity
- -
18.88
22.27
18.77
14.93
11.9
- -
5.92
5.97
14.56
- -
- -
- -
- -
Return on Invested Capital (%)
- -
31.84
41.94
41.31
36.6
35.4
- -
121.71
27.97
73.65
- -
- -
- -
-644.91
Return on Capital (%)
- -
103.31
100.91
91.26
88
98.1
- -
- -
87.74
102.8
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
3
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
1
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
62
62
62
Market Capitalization
41
62
63

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
83
88
109
Cash, Cash Equivalents & STI
30
1
1
Accounts Receivable, Net
3
12
11
Inventories
31
61
83
Total Current Liabilities
49
58
64
Payables & Accruals
- -
- -
- -
ST Debt
3
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-0.05%
-7.7%
-19.48%
Free Cash Flow
-20.86%
-79.94%
-717.73%
Net Income, GAAP
-107.51%
-105.02%
-46.73%
Sales/Revenue/Turnover
-5.55%
-6.55%
-31.73%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
27
25
66
72
190
2025
9
13
- -
- -
130
2026
15
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.16
- -
-0.03
- -
-0.37
2025
-0.06
- -
- -
- -
-0.2
2026
-0.1
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Polwax S.A. (PWX.WA), Poland's largest and one of Europe's leading paraffin producers, manufactures and distributes refined and renewable paraffin, waxes, and specialty paraffin-based compositions; anti-corrosion agents; anti-caking agents for fertilizers; casting waxes; hot-melt adhesives; wood and paper impregnation products; micro-crystalline waxes; food contact waxes for production and packaging; plant protection products; rubber industry formulas; model masses; candle production waxes including wick coatings, decorative blends, and dipping waxes such as Isowax and LWK 64/68; ready-made grave candles, table candles, and container candles produced at its Czechowice-Dziedzice facility; and other industrial products for applications in fertilizer, rubber, food, paper and packaging, varnishes, paints, construction materials, wood processing, explosives, investment casting, automotive, and furniture industries. Founded in 1999 with formal incorporation in 2012 as a joint-stock company, Polwax S.A. maintains headquarters at ul. 3 Maja 101 in Jaslo, Poland, and operates primarily in Europe with a workforce of approximately 197-213 employees, emphasizing innovation through in-house R&D laboratories, modern production processes, and an integrated management system certified to ISO 9001, 14001, 45001, and 17025 standards. In 2024, Mostostal Zabrze S.A. completed the acquisition of a 49.92% stake in Polwax through the subscription of 30.8 million new shares for PLN 30.8 million following a May letter of intent, due diligence, and regulatory approvals including from Polish competition authorities, marking a strategic alliance that enhances Polwax's position under significant influence from the construction and energy sector player as part of Mostostal Zabrze's 2023-2026 diversification strategy; the company also signed a major 2024 paraffin raw material supply agreement with Aramco Fuels Poland valued at nearly PLN 30 million covering 25-30% of production needs, renewed its factoring facility with ING Commercial Finance Polska S.A. in May 2025, reached an amicable settlement with Mostostal Zabrze and Orlen Projekt in June 2025, and continues portfolio expansion toward industrial applications including fertilizers, food contact, wood emulsions, and rubber formulas while maintaining candle market presence. Polwax S.A. lists on the Warsaw Stock Exchange main market since its 2017 IPO and reports to the Materials sector's Specialty Chemicals industry, serving diverse B2B customers across industrial segments with a focus on quality, ecological production, and customer-specific formulations.