olivLaw · European equity research
Unima 2000 Systemy Teleinformatyczne Spółka Akcyjna YRL.WA
Poland · GPW Warszawa · ISIN PLUNMST00014 · Vertical: Listed companies from Poland
Unima 2000 is a Polish company that designs, supplies and integrates telecommunications and information technology environments for businesses, with a focus on advanced IP telephony systems and call center and contact center applications. In fiscal 2022 the group reported a significant pre-tax loss and negative operating cash flow, while the shareholder base is dominated by Euvic IT S.A. with 30.02% of capital, making the financial position worth close monitoring by investors.
At the close of 06 Nov 2026, Unima 2000 Systemy Teleinformatyczne Spółka Akcyjna (YRL.WA) stock was 5.54 PLN (+2.21% on the day), with beta 0.53, 52-week range 5.04–7.54 PLN.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 47.4
- neutral
- Bollinger (20, 2)
- 5.37 – 5.81
- in the lower half of the band · %B 0.38 · band width 7.8%
- SMA 50 / 200
- 5.69 / 5.90
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.05 / -0.05
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.9% | −0.2% | +5.1 pp | — |
| 3 months | −8.0% | −5.4% | −2.6 pp | — |
| 6 months | −6.1% | +4.4% | −10.5 pp | — |
| Year to date | −17.1% | +6.5% | −23.5 pp | — |
| 1 year | −28.1% | +10.0% | −38.0 pp | +5.9% |
| 3 years | −12.3% | +48.6% | −60.9 pp | +1.8% |
| 5 years | +84.7% | +41.4% | +43.2 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 |
|---|---|---|---|
| Revenue | 39.3 m | 33.8 m | 27.3 m |
| Revenue YoY | unavailable | −14.1% | −19.3% |
| Net income | -828.0 k | -742.0 k | -11.2 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -2.1% | -2.2% | -41.2% |
| Free cash flow | 566.0 k | 369.0 k | -8.1 m |
Balance sheet & financial health
Fiscal year 2022 · 31 Dec 2022
- Cash
- 390.0 k PLN
- Financial debt
- 0 PLN
- Net debt
- -390.0 k PLN
- Equity
- 968.0 k PLN
- Total assets
- 13.1 m PLN
- Debt / equity
- 0.00x
- Current ratio
- 0.47x
- ROE
- -178.5%
- ROA
- -59.7%
- FCF margin
- -29.6%
Financial statements (source on every figure)
Revenue and net income (PLN)
Margins
Income statement · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 39.3 m | 33.8 m | 27.3 m | esef· 16 May 2023verified |
| Cost of revenue | 33.8 m | 30.4 m | 27.8 m | esef· 16 May 2023verified |
| Gross profit | 5.5 m | 3.4 m | -525.0 k | esef· 16 May 2023verified |
| Operating income | -647.0 k | -1.3 m | -9.7 m | esef· 16 May 2023verified |
| Interest expense | 185.0 k | 85.0 k | 311.0 k | esef· 16 May 2023verified |
| Pre-tax income | -773.0 k | -1.4 m | -10.0 m | esef· 16 May 2023verified |
| Income tax | 55.0 k | -663.0 k | 1.3 m | esef· 16 May 2023verified |
| Net income | -828.0 k | -742.0 k | -11.2 m | esef· 16 May 2023verified |
Balance sheet · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Cash | 3.0 m | 2.8 m | 390.0 k | esef· 16 May 2023verified |
| Receivables | — | 7.2 m | 4.7 m | esef· 16 May 2023verified |
| Inventories | 316.0 k | 144.0 k | 90.0 k | esef· 16 May 2023verified |
| Current assets | 11.4 m | 14.3 m | 5.4 m | esef· 16 May 2023verified |
| Property, plant & equipment, net | 4.2 m | 4.0 m | 4.1 m | esef· 16 May 2023verified |
| Goodwill | 2.4 m | 2.4 m | 2.4 m | esef· 16 May 2023verified |
| Intangibles (excl. goodwill) | 105.0 k | 58.0 k | 55.0 k | esef· 16 May 2023verified |
| Total assets | 21.9 m | 24.5 m | 13.1 m | esef· 16 May 2023verified |
| Accounts payable | — | 8.1 m | 2.4 m | esef· 16 May 2023verified |
| Long-term debt | 373.0 k | 222.0 k | 0 | esef· 16 May 2023verified |
| Current liabilities | 8.0 m | 11.5 m | 11.4 m | esef· 16 May 2023verified |
| Total liabilities | 9.5 m | 12.9 m | — | esef· 26 Apr 2022verified |
| Equity | 12.4 m | 11.6 m | 968.0 k | esef· 16 May 2023verified |
Cash flow · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 642.0 k | 570.0 k | -7.5 m | esef· 16 May 2023verified |
| Capex | 76.0 k | 201.0 k | 535.0 k | esef· 16 May 2023verified |
| Free cash flow | 566.0 k ≈ | 369.0 k ≈ | -8.1 m ≈ | esef· 16 May 2023derived |
| Investing cash flow | 73.0 k | 21.0 k | 0 | esef· 16 May 2023verified |
| Financing cash flow | 316.0 k | -840.0 k | 5.2 m | esef· 16 May 2023verified |
| Dividends paid | 366.0 k | 0 | — | esef· 26 Apr 2022verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
27% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -169.2% | 0 (vs peers) | 38% |
| Net margin · Quality | -41.2% | 8 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -31.3x | 0 (on a fixed band) | 23% |
| Current ratio · Balance sheet | 0.5x | 0 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality3/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Unima 2000 Systemy Teleinformatyczne Spółka Akcyjna (YRL.WA). Latest full fiscal year: 2022; data up to 2022-12-31.
Figures computed from the financial statements: revenue 27.3 m PLN in 2022; YoY growth -19.3%; net margin -41.2%; ROE -178.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: -169.2%
- Net margin: -41.2%
- Interest coverage: -31.3x
- Current ratio: 0.5x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Poland · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ACP.WAAsseco Poland S.A. | 19.0 bn | 37.8 | 7.8% | 2.9% | +19.8% | +18% / +199% |
| BDX.WABudimex Spółka Akcyjna | 18.9 bn | 35.3 | 41.5% | 6.2% | +8.9% | +18% / +33% |
| BFT.WABenefit Systems Spółka Akcyjna | 18.1 bn | 130.7 | 20.8% | 7.2% | +99.9% | +74% / +221% |
| ASE.WAAsseco South Eastern Europe Spółka Akcyjna | 3.7 bn | 19.6 | 18.1% | 12.0% | +36.5% | +6% / +50% |
| 1AT.WAAtal Spółka Akcyjna | 2.3 bn | 6.4 | 29.8% | 22.2% | −1.3% | +7% / +8% |
| ATT.WAGrupa Azoty Spółka Akcyjna | 1.6 bn | — | -37.9% | -20.8% | −45.1% | −15% / −26% |
| ARH.WAArchicom Spółka Akcyjna | 1.3 bn | 12.1 | 15.9% | 22.1% | −21.6% | +13% / +88% |
| ACT.WAAction S.A. | 999.4 m | 27.2 | 8.3% | 1.5% | +6.1% | +71% / +171% |
| BRS.WABoryszew Spółka Akcyjna | 874.1 m | 8.2 | 6.3% | 1.6% | +8.4% | −25% / −28% |
| AGO.WAAgora Spółka Akcyjna | 588.0 m | — | -14.2% | -9.2% | +15.2% | +37% / +18% |
| AMB.WAAmbra S.A. | 462.9 m | 7.5 | 16.4% | 7.0% | +12.9% | +4% / −33% |
| ATC.WAArctic Paper Spółka Akcyjna | 344.7 m | 1.4 | 16.3% | 7.0% | −27.5% | −40% / −75% |
| ATG.WA"atm Grupa Spółka Akcyjna" | 298.5 m | 11.0 | 8.9% | 11.6% | −22.0% | −11% / +2% |
| ART.WAArtifex Mundi S.A. | 229.7 m | 17.7 | 35.7% | 33.3% | +51.9% | +48% / +14% |
| APN.WAAPLISENS Spółka Akcyjna | 192.4 m | 9.4 | 11.4% | 13.8% | +21.8% | −2% / −22% |
| ALI.WAALTUS Spolka Akcyjna | 158.1 m | 17.3 | 7.9% | 16.9% | +30.3% | +38% / +52% |
| BMC.WABumech Spółka Akcyjna | 156.9 m | — | -3.4% | -3.9% | −40.0% | −36% / −49% |
| BBT.WABoomBit Spółka Akcyjna | 71.9 m | 4.5 | 20.7% | 6.4% | −16.5% | −18% / −56% |
| BBD.WABbi Development S.A. | 54.1 m | 1.1 | 36.0% | 208.3% | +50.2% | +1% / +9% |
| ALG.WAAll in! Games Spółka Akcyjna | 39.6 m | — | — | -156.9% | −72.2% | −27% / −56% |
| BMX.WABioMaxima Spółka Akcyjna | 36.3 m | 62.0 | 1.2% | 1.3% | −67.5% | −31% / −46% |
| 06N.WAMagna Polonia Spółka Akcyjna | 31.1 m | 0.5 | 115.4% | 964.7% | +13.0% | −29% / −43% |
| BCM.WABETACOM Spółka Akcyjna | 26.3 m | 17.3 | 8.0% | 0.9% | +21.3% | +6% / +2% |
| AWM.WAAirway Medix Spółka Akcyjna | 13.8 m | — | -25.8% | -117,400.0% | −97.7% | −26% / −45% |
| ASM.WAAsm Group Spółka Akcyjna | 7.2 m | — | -6.6% | -1.2% | +1.9% | −70% / unavailable |
1- and 3-year price returns: for YRL.WA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Unima 2000 is a Polish company that designs, supplies and integrates telecommunications and information technology environments for businesses, with a focus on advanced IP telephony systems and call center and contact center applications. In fiscal 2022 the group reported a significant pre-tax loss and negative operating cash flow, while the shareholder base is dominated by Euvic IT S.A. with 30.02% of capital, making the financial position worth close monitoring by investors.
SWOT
Strengths
- The integrated offer, covering design, delivery, implementation and service and training, is a strength stated in the report 1.
- Specialisation in IP telephony systems and contact center applications provides a clearly defined technological core 1.
- Shareholding is concentrated, and the majority shareholder could provide decision-making stability given its significant stake 1.
Weaknesses
- Fiscal 2022 was marked by a pre-tax loss and negative operating cash flow, which points to financial pressure 1.
- Frequent management and supervisory board changes in 2022 could reflect organisational instability 1.
- The modest size of the group and the lack of detailed segment data limit transparency about revenue sources 1.
Opportunities
- Demand for IP communications and contact center solutions could grow if businesses continue digitalising 1.
- Expanding maintenance and training services could generate recurring revenue from existing clients 1.
- The subsidiaries Lockus and IQnet could be used to diversify the offer, if group strategy includes these directions 1.
Threats
Risks
- Going concernhigh
Management analysed going-concern risk, but the pre-tax loss and negative cash flow could become problematic if they are not offset 1.
- Liquidity and financinghigh
Reliance on loans and borrowings, visible in financing cash flows, could create tension if the cost or availability of funding changes 1.
- Shareholder concentrationmedium
The majority shareholder can influence strategic decisions, which could affect minority holders if interests do not align 1.
- Management instabilitymedium
Changes to the management and supervisory boards in 2022 could affect the execution of short-term strategy 1.
- Corporate demandlow
If client investment in communications declines, the volume of projects could shrink, with an impact on revenues 1.
Investment thesis
What would need to be true (bull case)
- If digitalisation of corporate communications continues, the company's integrated offer could generate new projects and recurring service revenue 1.
- A stable shareholder base dominated by Euvic IT S.A. could support the execution of a long-term strategy 1.
- Specialisation in IP and contact center solutions could differentiate the company from suppliers offering only components 1.
What would break the thesis
- The pre-tax loss and negative operating cash flow in 2022 could point to a structural problem of profitability and cash generation 1.
- If external financing becomes more costly, liquidity pressure could limit investment and day-to-day operations 1.
- Repeated management changes could reflect governance difficulties that might weigh on investor confidence 1.
What to watch
- Development of the pre-tax loss and operating cash flow compared with 20222023
- Confirmation of going-concern assessment and financing plan2023
- Composition of the executive management and supervisory boardnext 10-K
- Demand trends for contact center and IP solutions2024
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Unima 2000 Systemy Teleinformatyczne S.A., based in Krakow, is the parent company of a group that includes two subsidiaries, Lockus sp. z o.o. and IQnet sp. z o.o. 1. The company operates in the information technology sector and is classified as such by the Warsaw Stock Exchange 1. Its shares are listed on the Warsaw Stock Exchange (GPW) 1.
The offer focuses on advanced telecommunications systems, including IP solutions and sales support applications such as call center and contact center 1. The company designs, delivers and implements its own projects, and also provides an extensive package of service and technical training for client staff 1.
In 2022 there were significant management changes: the chairman of the management board resigned in October 2022 and a supervisory board member was delegated to temporarily perform the duties of president of the management board 1. These changes were followed by a reconfiguration of the supervisory board, including the election of a new chairman 1.
Segments
Market context
The market the company serves is that of information technology for businesses, where demand depends on client investment in communications infrastructure 1. The annual report for 2022 notes that the pandemic affected demand for the group's services, and management analysed the risk of reduced liquidity 1.
The available data are limited to the 2022 annual report and do not include external estimates of market size or growth 1. For this reason, the market analysis remains conditional on the company's internal data.
Trends
- Digitalisation of corporate communicationstailwind
The shift toward IP solutions and contact center platforms could support demand for the company's offer, if clients keep investing in such infrastructure 1.
- Pandemic effects on demandheadwind
The report mentions a possible decline in demand for the group's services in the context of the pandemic, which management analysed when assessing going concern 1.
- Liquidity pressureheadwind
The pre-tax loss and negative operating cash flow show cash pressure, and the company could depend on external financing if this persists 1.
- Shareholder consolidationmixed
The majority stake held by Euvic IT S.A. may influence the company's strategic direction, a factor that could matter to investors depending on how governance evolves 1.
Competitive position
The provided sources do not explicitly name the company's competitors and do not describe its position relative to other telecommunications suppliers 1. For this reason, the competitive analysis is limited to information in the annual report.
The company's stated advantage lies in the full integration of its solutions, from design to implementation and service, which could differentiate its offer from suppliers that deliver only components 1.
- Euvic IT S.A.
Majority shareholder of Unima 2000 with a reported stake of 30.02% of capital at 31.12.2022 1.
- Lockus sp. z o.o.
Subsidiary included in the group's consolidated accounts at the balance sheet date 1.
- IQnet sp. z o.o.
Second subsidiary included in the group's consolidated accounts at the balance sheet date 1.
- Call center and contact center providers
The sources do not name specific competitors; the category refers to other providers of sales support applications, the field in which the company operates 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202216 May 2023
- Annual report 202126 Apr 2022
Sources
- [1] Annual report, fiscal year ended 2022-12-31 (ESEF) · SEC / Unima 2000 Systemy Teleinformatyczne Spółka Akcyjna · 31 Dec 2022
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.