Income Statement

Earnings Waterfall
Newag SA

Income Statement
Newag SA

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Income Statement
Currency: PLN
Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
14
3
0
6
15
7
0
0
11
0
0
0
9
0
0
0
9
0
0
0
12
0
0
0
16
0
0
0
14
0
0
3
10
10
0
19
34
30
0
24
28
17
0
0
15
0
0
0
Revenue
681
N/A
694
+2%
785
+13%
969
+23%
901
-7%
971
+8%
920
-5%
774
-16%
1 035
+34%
905
-13%
843
-7%
791
-6%
559
-29%
650
+16%
623
-4%
673
+8%
790
+17%
744
-6%
883
+19%
861
-2%
1 022
+19%
1 044
+2%
1 028
-1%
1 040
+1%
896
-14%
1 024
+14%
1 084
+6%
1 159
+7%
1 320
+14%
1 324
+0%
1 102
-17%
1 209
+10%
918
-24%
842
-8%
927
+10%
858
-7%
964
+12%
1 042
+8%
1 048
+1%
1 019
-3%
1 231
+21%
1 178
-4%
1 362
+16%
1 684
+24%
1 589
-6%
1 741
+10%
1 863
+7%
2 223
+19%
Gross Profit
Cost of Revenue
(545)
(561)
(623)
(762)
(719)
(780)
(754)
(645)
(844)
(743)
(700)
(664)
(477)
(539)
(525)
(569)
(688)
(653)
(761)
(740)
(821)
(840)
(816)
(803)
(692)
(768)
(796)
(829)
(949)
(967)
(807)
(929)
(744)
(681)
(756)
(717)
(816)
(861)
(841)
(814)
(968)
(932)
(1 074)
(1 342)
(1 255)
(1 346)
(1 431)
(1 638)
Gross Profit
136
N/A
133
-2%
162
+22%
207
+28%
181
-12%
191
+5%
167
-13%
129
-23%
191
+49%
162
-15%
143
-12%
127
-11%
82
-35%
111
+35%
97
-12%
103
+6%
102
-1%
91
-11%
121
+33%
121
0%
201
+66%
203
+1%
212
+4%
237
+12%
204
-14%
255
+25%
288
+13%
330
+15%
371
+12%
357
-4%
295
-17%
279
-5%
174
-38%
161
-7%
171
+6%
141
-17%
148
+5%
181
+22%
207
+14%
205
-1%
263
+28%
247
-6%
288
+17%
341
+19%
335
-2%
395
+18%
432
+10%
585
+35%
Operating Income
Operating Expenses
(67)
(66)
(69)
(72)
(66)
(75)
(93)
(98)
(103)
(95)
(74)
(65)
(66)
(66)
(69)
(67)
(69)
(60)
(54)
(51)
(75)
(72)
(82)
(84)
(75)
(82)
(90)
(103)
(98)
(114)
(87)
(84)
(98)
(81)
(99)
(101)
(95)
(95)
(96)
(102)
(120)
(128)
(157)
(156)
(172)
(179)
(172)
(189)
Selling, General & Administrative
(57)
(58)
(60)
(61)
(64)
(66)
(82)
(87)
(71)
(69)
(55)
(52)
(72)
(73)
(73)
(69)
(67)
(71)
(69)
(70)
(75)
(72)
(76)
(78)
(79)
(78)
(81)
(83)
(90)
(91)
(90)
(93)
(93)
(96)
(99)
(100)
(97)
(97)
(102)
(106)
(116)
(126)
(131)
(136)
(137)
(143)
(152)
(160)
Other Operating Expenses
(10)
(8)
(9)
(9)
(3)
(9)
(11)
(11)
(32)
(26)
(19)
(13)
6
7
5
2
(2)
11
15
19
(0)
0
(7)
(6)
4
(4)
(10)
(19)
(8)
(22)
4
9
(5)
15
0
(1)
2
3
4
4
(4)
(1)
(26)
(19)
(35)
(36)
(20)
(29)
Operating Income
69
N/A
67
-3%
94
+40%
135
+44%
115
-15%
116
+1%
74
-37%
30
-59%
88
+193%
67
-24%
69
+4%
62
-11%
17
-73%
45
+166%
29
-36%
36
+24%
33
-7%
31
-6%
67
+114%
69
+4%
126
+81%
131
+4%
130
-1%
153
+18%
129
-16%
173
+34%
197
+14%
227
+15%
273
+20%
244
-11%
209
-14%
195
-6%
76
-61%
80
+5%
72
-10%
41
-43%
54
+32%
87
+62%
111
+28%
103
-7%
143
+39%
119
-17%
131
+10%
186
+42%
163
-12%
216
+32%
260
+21%
396
+52%
Pre-Tax Income
Interest Income Expense
(13)
(17)
(16)
(12)
(12)
(11)
(12)
(14)
(9)
(12)
(13)
(10)
(6)
(12)
(9)
(13)
(7)
(10)
(12)
(11)
(8)
(13)
(14)
(17)
(13)
(22)
(22)
(22)
(12)
(11)
(15)
(11)
(11)
(16)
(19)
(29)
(32)
(37)
(36)
(28)
(25)
(17)
(11)
(8)
2
(2)
1
(1)
Non-Reccuring Items
(3)
0
0
0
(0)
0
0
0
1
0
0
0
2
0
0
0
12
0
0
0
2
0
0
0
1
0
0
0
(18)
0
0
(0)
18
(1)
0
(0)
0
1
0
(3)
(1)
(5)
0
(2)
(2)
(1)
(1)
0
Total Other Income
(6)
(1)
(4)
(7)
(3)
(1)
1
3
(4)
0
0
0
(4)
0
0
0
(3)
0
0
0
(4)
0
0
0
(7)
0
0
0
(4)
0
0
0
(4)
(3)
(3)
(1)
(0)
4
4
1
(4)
(6)
(6)
(8)
(12)
(8)
(11)
(10)
Pre-Tax Income
47
N/A
48
+3%
74
+54%
117
+59%
100
-15%
104
+4%
62
-40%
19
-69%
76
+296%
55
-28%
56
+2%
53
-7%
9
-83%
33
+269%
20
-39%
23
+15%
35
+49%
21
-40%
55
+165%
59
+6%
116
+98%
118
+2%
116
-2%
136
+18%
110
-19%
151
+37%
175
+16%
206
+17%
238
+16%
232
-3%
194
-17%
184
-5%
79
-57%
60
-25%
50
-17%
10
-80%
22
+119%
54
+149%
78
+44%
73
-7%
113
+56%
92
-19%
114
+24%
169
+49%
150
-11%
205
+36%
249
+22%
385
+54%
Net Income
Tax Provision
(10)
(9)
(16)
(24)
(21)
(22)
(13)
(4)
(12)
(13)
(3)
(1)
2
3
(6)
(6)
(5)
(4)
(12)
(13)
(22)
(24)
(23)
(25)
(18)
(25)
(34)
(37)
(19)
(18)
(2)
(4)
(8)
(4)
(6)
2
1
(6)
(9)
(10)
(18)
(8)
(12)
(23)
(28)
(44)
(43)
(71)
Income from Continuing Operations
37
39
58
94
78
82
49
15
65
42
54
51
11
36
15
17
30
17
44
46
93
95
92
111
92
126
141
169
219
214
191
179
71
56
44
11
23
48
69
63
95
84
101
146
123
161
206
314
Income to Minority Interest
(0)
(0)
(0)
(0)
(0)
0
0
0
(0)
0
0
0
0
0
0
0
0
0
0
0
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
0
0
0
0
0
0
0
(0)
(0)
0
0
0
(0)
(0)
(1)
(1)
(1)
(1)
Net Income (Common)
37
N/A
38
+5%
58
+50%
93
+62%
78
-16%
82
+5%
49
-40%
15
-70%
65
+335%
42
-35%
54
+29%
51
-5%
11
-78%
36
+224%
15
-60%
17
+18%
30
+73%
17
-42%
44
+153%
46
+5%
93
+104%
94
+1%
92
-2%
111
+20%
89
-20%
123
+38%
139
+13%
167
+20%
219
+31%
108
-50%
85
-21%
74
-14%
72
-3%
56
-21%
44
-22%
12
-73%
23
+94%
48
+112%
69
+42%
63
-8%
95
+51%
84
-12%
101
+20%
145
+44%
122
-16%
160
+31%
205
+28%
313
+53%
EPS (Diluted)
0.81
N/A
0.85
+5%
1.28
+51%
2.08
+63%
1.74
-16%
1.83
+5%
1.1
-40%
0.33
-70%
1.44
+336%
0.93
-35%
1.2
+29%
1.14
-5%
0.25
-78%
0.81
+224%
0.33
-59%
0.39
+18%
0.66
+69%
0.39
-41%
0.97
+149%
1.01
+4%
2.07
+105%
2.1
+1%
2.05
-2%
2.47
+20%
1.98
-20%
2.74
+38%
3.09
+13%
3.7
+20%
4.86
+31%
2.4
-51%
1.89
-21%
1.63
-14%
1.59
-2%
1.25
-21%
0.98
-22%
0.26
-73%
0.51
+96%
1.07
+110%
1.52
+42%
1.4
-8%
2.12
+51%
1.87
-12%
2.24
+20%
3.23
+44%
2.72
-16%
3.55
+31%
4.55
+28%
6.96
+53%