The Mentzen candidate supports, the president of Mentzen regrets. Business will revive after losing in elections?
One of the leaders of the election polls before the election for the office of the President of the Republic of Poland is also the president of the stock market company, which has just showed better periodic results. Sławomir Mentzen, because we are talking about him, in a letter to shareholders writes that if he does not win the election, he will redirect a significant part of time, attention and energy to his company.
At the beginning, it is worth praising the Mentzen SA company listed on the New Connect market for efficient preparation of the financial statements for the first quarter of 2025. This is one of the first companies in the alternative market, next to it. among others Aqua or GKS GieKSa Katowice companies, which already publish reports for this period. Some companies from the WSE have not even presented the results for the fourth quarter of 2024. Thus, Mentzen SA refers to good practices of companies from abroad and a few issuers from the WSE of the WSE.
On the other hand, it's hard to make it different. After all, it is a law and tax office, whose activities are most based on accounting services and tax consulting. This activity finally generated solid results and for the first time since entering the stock exchange showed an increase in profit. We wrote about the fact that fantastic reported results before the public offer and debut on the WSE disappeared immediately after obtaining the status of a public company, we wrote in the article “Actions Mentzen SA the lowest than the debut. The company caught the resulting runny nose”.
Only as a reminder, let's state that while in all of 2023, when the company was not a public company and operated as the Mentzen SP. PLN in 2022 up to PLN 3 million in 2023, i.e. by 1,400 percent, it was already a Mentzen SA from NewConnect 2024. It ended with profits of 824.4 thousand. PLN, i.e. 73 percent lower by
The resulting runny nose is over?
However, 2025 Mentzen SA began very well, because in the first quarter revenues jumped by 8.3 percent. yard up to PLN 6.2 million. In turn, after two quarters of losses, the company finally reported a profit of PLN 1.288 million. This is a year -on -year growth by about 70 percent. And the first such situation as a public company. What the rights in the results for the second quarter of 2024, i.e. after the debut, also showed net profit, but by 78 percent. lower yard
Positive information in the report actually ends at the results of the ended quarter, which is also written by President Sławomir Mentzen himself.
“As every year, we have a good first quarter, this time clearly better than in 2024. However, I would not attach to these results, the next quarters should be rather worse, and in addition in this quarter we completed several large tax and legal projects that significantly improved our result”-writes the president at the beginning.
In the further part of the report we read that the improvement largely results from the decisions taken in the previous two quarters regarding the reorganization and reduction of employment in the accounting department. However, to a large extent, improvement is the result of the seasonality of tax consultancy services.
“From the very beginning of its communication with the market, the company emphasizes its specialization in the field of broadly understood tax optimization. Such a service is seasonal – the greatest demand falls on January and February each year, when many companies must decide to choose the form of taxation for the next year. Also provided services of the accounting department in the field of financial statements are provided in general – in March. The reasons for the first quarter of each year is always the best quarter for the group, and comparing the first quarter to the remaining quarters is unreliable, “explains the report.
I am for and even against
What can attract the attention of investors is the honesty of President Mentzen, who, however, also positions himself as a politician. This is evidenced by the assessment of the act regarding changes in the method of calculating the health contribution, which President Andrzej Duda is to veto. “This is a good decision, because this act significantly increased the burden for over 100,000 Polish enterprises settling on a lump sum, including many of our clients,” writes rather as a politician Sławomir Menzten.
On the other hand, the president of Mentzen SA sees this negative effects on the company he runs. “However, you have to be aware that if this law came into force, many of these entrepreneurs would have to become our clients again, which would increase the company's revenues. Without this change, it promises to be another year in which the tax law will not change significantly, which will negatively affect the level of income from tax consultancy,” notes Sławomir Menzten again.
This fragment of the letter to the shareholders shows what dilemmas Sławomir Mentzen would have stood if he was elected President of the Republic of Poland, being the largest shareholder of the company who earns on tax changes. However, this is only agonizing, but from the letter of the president of Menzten there is another issue of connecting business with politics.
“The election campaign, which has been taking the vast majority of my time, attention and energy for months, slowly ends. If I do not win these choices, I redirect a significant part of these resources to the company. In a few quarters we will find out whether it will be for the benefit of the company or not” – ends his letter to Sławomir Mentzen shareholders.
Michał Kubicki
