Action (CRI) Creotech Instrmn Forum Analyses

Hello my dears,

We had a little barbecue in the garden at the weekend. Matteo from Italy and Jakub from Poland traveled all the way here.

And the conversations between the young investors naturally focused on companies from their countries.

When it came to the IPO of Space X, Jakub came up with an exciting Polish space player.

His words were:

"We in Poland can do space, profitably and with great margins"

My dears, that naturally made us curious. Obtaining company estimates was not that easy.

(Therefore all without guarantee)

Today I'm asking you for lots of comments and opinions on

$CRI

PS. The RSI is at the upper edge, so it should be worth waiting to enter the market.

Creotech Instruments SA is a Poland-based company operating in the space sector. The company is a provider of space technologies and specializes in the development and manufacture of electronic products and IT systems, such as systems based on imaging of Earth observation systems and UAV (Unmanned Aerial Vehicle) technology for monitoring high-altitude obstacles for manned and unmanned aerial vehicles, as well as the development of specialized electronics and hardware that can be used in areas such as quantum computers, quantum cryptography, quantum physics and high-energy physics laboratories and microsatellites.

Number of employees: 297

Creotech Instruments S.A. is Poland's largest integrator and manufacturer of satellitessatellites, satellite systems and subsystems and specializes in advanced projects in the space sector. The company offers end-to-end satellite missionsdedicated systems and technologies used in highly demanding space-related applications.

The company operates own electronics manufacturing facilities and a small satellite integration infrastructurethat meet the stringent requirements for technologies developed for use in space. ESA-certified dedicated production lines together with clean rooms enable Creotech Instruments to carry out comprehensive projects - from concept and design to subsystem production and integration of complete satellites and advanced satellite mission systems.

The Creotech Instruments portfolio includes more than 40 projects using the company's solutions that have been successfully completed for the space sector. sector.

One of the company's most important achievements is the proprietary HyperSat satellite platformwhich serves as the basis for various types of space missions, including Earth observation, scientific and communication missions. This technology enables the development of advanced projects tailored to customer needs and diverse operational, research and technological objectives.

Creotech Instruments cooperates with scientific institutions, industrial partners and space sector organizations in Poland and abroad. It is also the largest Polish partner of the European Space Agency.

Since 2022 Creotech Instruments has been listed on the main market of the Warsaw Stock Exchange as the first Polish company from the space technology sector to be listed.

2018

Unmanned aerial systems, a new business segment

CreoScan, a new brand from Creotech Instruments, offers a range of solutions for automated drone operations management in public spaces.

2023

Mission to the moon

The European Space Agency (ESA) selected the offer of a Polish consortium led by Creotech Instruments to prepare Phase 0/A of the most important European mission in the field of lunar mapping. We are tasked with preparing the overall design of the mission and developing a satellite based on our proprietary HyperSat microsatellite platform.

2024

Creotech Instruments develops six research probes for an ESA space mission

The European Space Agency has selected us to design six radiation-resistant space probes for the 0.5 billion euro scientific mission "Plasma Observatory". This is the first M-class mission in which a Polish company is the supplier of complete space probes.

Creotech has joined the sWIG80 index

PptxGenJS Presentation

Creotech Instruments kündigt seine Entwicklungsstrategie bis 2029 an, unterstützt von einer geplanten Kapitalbeschaffung von etwa 100 Millionen Euro – Creotech

Creotech Instruments secures a 52 million euro ESA contract to build the Polish satellite constellation CAMILA

Creotech Instruments sichert sich einen ESA-Auftrag über 52 Millionen Euro zum Bau der polnischen Satellitenkonstellation CAMILA - Creotech

Creotech Instruments schließt die Abspaltung ab – Creotech Quantum-Börsengang für den 17. April 2026 geplant – Creotech

Creotech Instruments schließt sich einer strategischen Initiative an, um den Zugang zu Satellitendaten in der gesamten Drei-Meere-Region zu erweitern – Creotech

Creotech Instruments und Eutelsat gründen Partnerschaft für sichere Satellitenkonnektivität in Europa – Creotech

Creotech Instruments unterzeichnet einen Vertrag für Phase B1 des RAVEN-Projekts – Creotech

Volle Umlaufbereitschaft der HyperSat-Plattform über alle Satelliten der PIAST-Konstellation – Creotech

Creotech Instruments leitet die europäische Mission zum Mond – Creotech

Creotech Instruments startet Expansion mit einer orbitalen Überwachungskamera – erster internationaler Vertrag unterzeichnet – Creotech

Polnisch-spanische Zusammenarbeit im Orbit: Creotech Instruments unterzeichnet Kooperationsvereinbarung mit Satlantis - Creotech

Creotech Instruments gründet eine Tochtergesellschaft für Drohnenanwendungen und Satellitendatenverarbeitung

Creotech Instruments meldet Rekordergebnisse im ersten Quartal: fast das Vierfache des Umsatzwachstums im Jahresvergleich

Distribution of turnover by business area:

2025 (PLN)

Space Projects 146 million

Electronics Production 2.56 million

Satellite data and Unmanned Aerial 1.5 million

Unallocated Revenues/Costs 3000 k

Geographical distribution of revenue:

2025 (PLN)

Poland 112 million

European Union 37.52 million

Other Countries 4.31 million

🧠 Juan summary - valuation & finance (Creotech)

1) Hyper-growth meets first normalization 2026-2027 sales and earnings explode, 2028 growth flattens out. This is typical for companies switching from project to platform sales. However, the basis remains massively higher than in 2025.

2) Margins show: The business model is working EBITDA margin increases significantly in 2026→2027 (31.8% → 34.0%) before falling slightly in 2028. This is not an alarm - rather a sign that 2027 was an outlier top.

3) Cash flow remains strong - even in the "cooling off year" 2028 Free cash flow remains positive and stable (57 → 79 → 72m PLN). This is unusually good for a space tech company unusually good.

4) Net debt? Negative. Creotech is sitting on net cash (-154 → -240 → -322 m PLN). This gives strategic freedom and massively reduces risk.

5) ROE shows the true power 30 % → 40 % → 26 % Even in 2028, this is still elite level.

6) Valuation: 2027 is the sweet spot P/E ratio falls from 2026 to 2027 dramaticallybecause EPS explodes. In 2028 it rises slightly because earnings decline. The pattern is typical for companies that enter a normal year after a "super year".

7) Overall picture Creotech is not a "story stock", but a real real scaling company with: