Synektik (SNTP) Q1 2025 earnings summary

Executive summary

• Total consolidated revenue for Q1 FY2024 was PLN 203.1m, down from PLN 271.3m year-over-year.

• Net profit reached PLN 33.1m, compared to PLN 34.7m in the same period last year.

• EBITDA was PLN 46.4m, with normalized EBITDA margin rising to 25.1% from 19.6% year-over-year.

• Strong growth in recurring revenues, up 62% to PLN 68.1m, and radio-pharmaceutical segment sales up 22% to PLN 12.1m.

Financial highlights

• Operating profit for Q1 FY2024 was PLN 41.5m, down from PLN 45.4m year-over-year.

• Net cash from operating activities was PLN 109.7m, compared to PLN 122.0m a year earlier.

• Total assets increased to PLN 485.0m as of Dec 31, 2024, from PLN 375.3m at Sep 30, 2024.

• Equity rose to PLN 223.1m, up from PLN 190.0m at the end of September 2024.

• Book value per share increased to PLN 26.16.

Outlook and guidance

• Management expects continued growth in medical equipment, IT, and service sales, driven by new product launches and increased healthcare spending.

• Expansion in surgical robotics in Poland, Czechia, Slovakia, and the Baltics is anticipated.

• Recurring revenue growth is expected from a larger installed base and higher utilization.

• No financial forecasts for FY2024 have been published.