Synektik (SNTP) Q2 2025 earnings summary

Executive summary

• Revenue for the group in H1 2024/25 was PLN 327.8m, down 9% year-over-year, while EBITDA rose 4% to PLN 80.9m and net income reached PLN 47.6m, up 1%.

• The group maintained strong profitability, with EBITDA margin increasing to 24.7% from 21.6% year-over-year.

• The company continued to expand its recurring revenue base, especially in medical equipment and IT services, and executed a record dividend payout of PLN 70.4m.

Financial highlights

• Operating profit (EBIT) was PLN 69.8m, up 2% year-over-year; EBITDA from continuing operations was PLN 80.9m, up 4%.

• Net cash from operations was PLN 46.3m, while net cash outflow was PLN 28.8m, mainly due to the dividend.

• Total assets increased 18% to PLN 380.2m; equity rose 8% to PLN 167.1m.

• The company ended the period with a cash surplus over financial liabilities of PLN 20.8m.

Outlook and guidance

• Key growth drivers include increased sales of medical equipment, IT and service revenues, and expansion in surgical robotics in Poland, Czechia, Slovakia, and the Baltics.

• Management expects further growth in recurring revenues and continued development of the radio-pharmaceutical segment.

• The group is focused on commercializing its innovative cardiac marker and expanding its product portfolio.