Comp S.A.

Comp S.A. Delivers Record Profitability and Strategic Transformation in 2025, Announces Ambitious Shareholder Returns

Comp S.A., a leading Polish technology group specializing in high-margin IT and cybersecurity services as well as retail-oriented hardware and software, reported robust financial results for the fiscal year 2025, marking the successful completion of its "Next Generation 2022-2025" strategy. The company achieved consolidated net sales revenue of PLN 846.5 million, with a net profit of PLN 76.5 million—nearly double the previous year’s result. EBITDA reached PLN 136.2 million, with an EBITDA margin of 16%, and EBIT stood at PLN 86.5 million, reflecting a margin of 10%. Notably, almost 80% of EBITDA was generated from sources other than fiscal hardware, including integration, specialized software, non-fiscal devices, and services.

The transformation strategy focused on simplifying the group structure, reducing debt, and shifting revenue streams toward recurring, high-margin services and proprietary solutions. As a result, Comp S.A. significantly reduced its reliance on regulatory-driven hardware cycles and improved cash flow management. The company also executed substantial shareholder returns, transferring PLN 45 million to shareholders in 2025 through share buybacks, and announced plans to transfer approximately PLN 70 million in 2026, with a cumulative target of PLN 250 million by 2028.

Key corporate actions in 2025 included a 1:5 stock split, a reduction in share capital through the cancellation of treasury shares, and further buybacks, enhancing liquidity and shareholder value. The group maintained a strong balance sheet, with equity of PLN 488.3 million and a net debt/EBITDA ratio of 0.13, indicating prudent financial management.

Operationally, Comp S.A. reinforced its leadership in special-purpose cybersecurity for the defense and public sectors and expanded its digital solutions for the retail market. The company’s subsidiaries, including Enigma Systemy Ochrony Informacji and NonStop SOC, continued to drive innovation in cryptography, electronic monitoring, and managed cybersecurity services, leveraging regulatory tailwinds such as the NIS2 directive and increased public funding for digital security.

Looking ahead, Comp S.A. launched its new "Security First 2026-2028" strategy, targeting EBITDA growth to PLN 180 million by 2028 and emphasizing resilience, recurring revenues, and continued leadership in regulated markets. The company remains vigilant regarding external risks, including the timing of public tenders, regulatory changes, and geopolitical uncertainties, but reports no material impact from current global conflicts.

Relevance: This article is highly relevant to Comp S.A.’s business profile as it highlights the company’s successful strategic shift toward high-margin, recurring IT and cybersecurity services, strong financial performance, and proactive capital allocation—all of which align with the group’s core strengths and market opportunities.

Audit Report Confirms Compliance and Financial Transparency of Comp S.A. for 2025

The independent auditor's report for Comp S.A. and its Capital Group for the fiscal year ending December 31, 2025, has confirmed the company's compliance with International Financial Reporting Standards (IFRS) and Polish accounting regulations. The audit, conducted by Misters Audytor Adviser Sp. z o.o., concluded that the consolidated financial statements provide a fair and clear representation of the Group's financial position, performance, and cash flows. The report also highlighted the company's adherence to corporate governance standards and the proper implementation of the European Single Electronic Format (ESEF) for financial reporting.

Key areas of focus during the audit included the valuation of intangible assets, such as goodwill, trademarks, and costs of ongoing development projects, which accounted for 31% of the Group's total assets. The auditors assessed the management's assumptions, methodologies, and sensitivity analyses related to these valuations and found no material misstatements. Additionally, the report confirmed that the Group's financial statements were free from significant errors or fraud and that the company has maintained robust internal controls.

The audit also addressed the potential impacts of external factors, such as inflation and geopolitical conflicts, on the company's operations. No significant issues were identified that would require adjustments to the financial statements. Furthermore, the report affirmed that the services provided by the auditing firm were in compliance with Polish law and EU regulations, with no prohibited non-audit services rendered.

The audit findings reinforce Comp S.A.'s strong financial governance and compliance with regulatory standards, aligning with its business profile as a leading provider of IT and cybersecurity services, as well as retail-oriented hardware and software solutions. This transparency and adherence to standards bolster the company's credibility and position in securing public and private sector contracts.

Comp S.A. Misses Out on Major Cybersecurity Tender Due to Higher Bid

In a recently concluded public tender for a large-scale cybersecurity project aimed at enhancing municipal IT infrastructure, Comp S.A. was outbid by a competing firm that offered the lowest bid. The tender, which was part of an EU-funded initiative to bolster cybersecurity across public institutions, was awarded to a foreign competitor. While Comp S.A. submitted a competitive proposal, its bid was ultimately higher than the winning offer, leading to the loss of this significant contract.

The project, valued at approximately €15 million, included the implementation of advanced cybersecurity systems and ongoing maintenance services. This loss highlights the challenges faced by Comp S.A. in securing public procurement contracts, particularly in a competitive landscape where pricing plays a decisive role.

Despite this setback, the company remains well-positioned to benefit from upcoming opportunities driven by the NIS2 directive and increased public funding for cybersecurity initiatives. However, the outcome underscores the importance of strategic pricing and timing in public tenders.

Relevance to Comp S.A.: This development is directly tied to Comp S.A.'s core business in IT and cybersecurity services, emphasizing the competitive pressures in public procurement and the critical role of pricing in securing contracts.

Comp S.A. Announces Share Buyback Program Worth PLN 35 Million

Comp S.A., a leading Polish technology group specializing in IT and cybersecurity services as well as retail-oriented hardware and software solutions, has announced a share buyback program. The company plans to repurchase up to 555,556 shares, representing approximately 2.71% of its total voting rights, at a price of PLN 63 per share. The total value of the buyback is capped at PLN 35,000,028. The buyback will be conducted through a public invitation for shareholders to submit offers for the sale of their shares, with the process set to conclude by April 24, 2026. Trigon Dom Maklerski S.A. will act as the intermediary for the transaction. The primary purpose of the buyback is to potentially cancel the repurchased shares, as per the resolution passed by the company’s General Meeting in 2024 and amended in 2025.

The buyback program aligns with Comp S.A.'s strategic focus on enhancing shareholder value and optimizing its capital structure, which is consistent with its business profile as a technology leader in IT and cybersecurity services and retail solutions.

Comp S.A. Board Recommends Allocation of 2025 Net Profit to Reserve Capital and Announces Share Buyback Plan

The Management Board of Comp S.A., headquartered in Warsaw, has announced its decision to allocate the entire net profit for the fiscal year 2025 to the company’s reserve capital. Additionally, the Board confirmed its intention to transfer a total of PLN 70 million to shareholders in 2026 through a two-phase share buyback program. The first tranche, amounting to approximately PLN 35 million, will be executed shortly after the publication of the 2025 annual financial report, expected after April 15, 2026, and before April 25, 2026. The second tranche is planned for the latter half of 2026, following the pattern of previous years. This initiative aligns with the company’s strategic plan, "Comp 2028 Security First," which outlines its objectives for 2026-2028.

The buyback will be conducted under the authority granted by the resolutions of the Ordinary General Meeting in 2024 and amended in 2025, allowing the Management Board to repurchase the company’s own shares. This move underscores Comp S.A.'s commitment to delivering value to its shareholders while maintaining a robust financial position.

Relevance to Comp S.A.: This announcement highlights Comp S.A.'s strategic focus on financial stability and shareholder value, aligning with its long-term growth objectives under the "Comp 2028 Security First" strategy. It also reflects the company's ability to generate sufficient profits to support both internal investments and shareholder returns.

Comp S.A. Terminates Sustainability Reporting Agreement Following Legal Amendments

Comp S.A. has announced the termination of its agreement with Misters Audytor Adviser Sp. z o.o. regarding the attestation of sustainability reporting for the fiscal year 2025. The decision follows the enactment of the amended Accounting Act on February 27, 2026, which allows companies meeting specific criteria to suspend sustainability reporting obligations for the period between January 1, 2025, and December 31, 2026. The resolution was made by Comp S.A.'s management board on March 16, 2026, after receiving recommendations from the Audit Committee and approval from the Supervisory Board. The termination was finalized on March 31, 2026, through mutual agreement with the auditing firm.

The auditing firm confirmed that the termination was due to regulatory changes and not due to any irregularities in the execution of the agreement. Both parties reached the decision amicably, and the company has submitted the necessary documentation to the Polish Financial Supervision Authority (KNF).

Relevance to Comp S.A. Business Profile

This development is significant for Comp S.A. as it reflects the company's ability to adapt to regulatory changes, potentially reducing compliance costs and allowing it to focus on its core IT and cybersecurity services, as well as retail-oriented solutions.

Comp S.A. Acquires 380,953 Shares in Share Buyback Program

Warsaw-based technology group Comp S.A. has announced the acquisition of 380,953 of its own shares at a price of 63.00 PLN per share on December 19, 2025, as part of its share buyback program. The transaction, conducted under the authorization granted by the company’s General Meeting resolutions, represents approximately 1.86% of the company’s share capital and voting rights. The total nominal value of the acquired shares amounts to 190,476.50 PLN.

The buyback program, initiated on December 8, 2025, received offers from shareholders for a total of 15,119,568 shares, resulting in a reduction rate of 97.48%. Prior to the transaction, Comp S.A. did not hold any treasury shares. Following the acquisition, the company now holds 380,953 shares, which may be subject to cancellation based on future resolutions by the General Meeting. The company clarified that voting rights from these shares will not be exercised at the General Meeting.

Comp S.A. also confirmed that the acquisition did not require notification to the Polish Financial Supervision Authority, as it did not exceed the thresholds outlined in the Public Offering Act.

Relevance: This development aligns with Comp S.A.'s strategic financial management and shareholder value enhancement, which are critical to its operations in IT, cybersecurity, and retail technology solutions.

Cybersecurity Market in Poland Poised for Rapid Growth Amid Rising Threats and Regulatory Changes

The cybersecurity sector in Poland is projected to be one of the fastest-growing segments of the IT market in the coming years, driven by increasing cyber threats, regulatory pressures, and the continued migration of businesses to cloud environments, according to a report by PMR Market Experts. Preliminary data for 2025 indicates that the Polish cybersecurity market could reach a value of PLN 3.5 billion.

Key findings reveal that nearly two-thirds of respondents identified cybersecurity as the top IT investment priority for 2024 and 2025, with 43% considering it the most critical area of IT spending. The report highlights a sharp rise in cybersecurity incidents, with CERT Polska data showing a 62% year-on-year increase in reported cases in 2024, surpassing 600,000 notifications and 103,000 registered incidents, 95% of which were phishing attacks. This trend continued into 2025, with over 550,000 notifications and 200,000 incidents recorded by October.

The report also notes a shift in the market structure, with a declining focus on hardware investments and growing emphasis on services and software, fueled by the adoption of cloud computing and SaaS models. Regulatory changes, particularly the implementation of the EU's NIS2 directive into Polish law, are expanding the scope of organizations required to adopt robust cybersecurity measures. Key sectors such as energy, transport, finance, healthcare, and digital services must now implement risk management systems, report major incidents, and establish dedicated cybersecurity structures.

Artificial intelligence is also emerging as a significant factor in cybersecurity, though its impact remains debated. While 40% of surveyed companies believe AI could reduce their security levels, 23% see it as an opportunity to enhance IT protection.

Relevance to Comp S.A.: The growing cybersecurity market and regulatory changes, such as the NIS2 directive, align with Comp S.A.'s focus on high-margin IT and cybersecurity services, presenting significant opportunities for recurring revenues and expanded market presence.

JT Inwestycje Acquires Over 5% Stake in Comp S.A. Following Merger

Comp S.A., a leading Polish technology group specializing in IT and cybersecurity services, has announced that JT Inwestycje Alternatywna Spółka Inwestycyjna sp. z o.o. has acquired a 5.71% stake in the company following its merger with CE Management Group sp. z o.o. The transaction, finalized on December 18, 2025, resulted in JT Inwestycje holding 1,170,005 shares, granting it a significant voting power within Comp S.A.

Subsequently, JT Inwestycje reduced its stake slightly to 5.56% after selling 29,481 shares during a share buyback program on December 19, 2025. The updated shareholding now stands at 1,140,524 shares, reflecting its adjusted voting rights.

This development highlights the growing interest in Comp S.A., whose diversified portfolio includes high-margin cybersecurity services and retail-oriented hardware and software solutions. The acquisition underscores the strategic importance of Comp S.A. in Poland's technology and cybersecurity sectors.

Relevance: The article is relevant as it demonstrates investor confidence in Comp S.A.'s business model, which benefits from increasing demand for cybersecurity solutions and fiscalization technologies, aligning with the company's growth strategy.

Comp S.A. Announces Notification of Share Disposal by JT Inwestycje Alternatywna Spółka Inwestycyjna

Comp S.A., a leading Polish technology group, has disclosed the receipt of a notification regarding the disposal of shares in the company. The transaction was conducted by JT Inwestycje Alternatywna Spółka Inwestycyjna sp. z o.o., an entity closely associated with Robert Tomaszewski, the President of the Management Board of Comp S.A. The disposal involved 29,481 shares at a price of 63 PLN per share, executed on December 19, 2025, outside the trading system as part of a share buyback program. The notification was submitted in accordance with Article 19(1) of the MAR regulation.

This development is significant for Comp S.A. as it reflects the ongoing financial activities and governance within the company, which are crucial for maintaining transparency and investor confidence in its operations.