Mo-Bruk S.A. | March 2025

 In this analysis, we’re going to explore a dirty but clean business. That’s strange, isn’t it? This business is both causing huge emissions, but it also helps to keep Poland astray from waste. We are diving into Mo-Bruk, a Polish company that specializes in waste management. It focuses on the recovery of waste to make it reusable in other products. 

How on earth did I stumble upon this company? Every so often, you are in this mood where you’re playing with screeners, hoping to find some new gems. The average FCF margin of this company over the last 5 years is 27%, the 10-year revenue CAGR is 20% and the average ROIC in recent years is a whopping 53%. 

At today's prices, the company is worth around €300 million, so too small to invest in for big investment firms. Besides, there surely are smaller firms that simply don’t want to invest in a business that doesn’t score the best on ESG terms. To me, it seems like an absolute ‘must-research’. Let’s see if this company can actually be a gem.

PS: Don’t expect many fancy photos; Mo-Bruk just isn’t that type of company.  

Disclaimer:
Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.

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