Diagnostyka (DIA) Q2 2025 earnings summary

Executive summary

• Revenue grew 22.5% year-over-year in Q2 2025, reaching PLN 593.4 million, driven by higher diagnostic test volumes and price increases.

• Net profit attributable to owners rose 14.5% year-over-year to PLN 63.8 million.

• Recurring EBITDA increased 24.5% year-over-year to PLN 152.9 million, with margin improvement to 26.0%.

• Dividend payout at 50% of group profits, totaling PLN 111.7 million (PLN 3.31 per share) for 2024.

• Three acquisitions completed in laboratory diagnostics and diagnostic imaging.

Financial highlights

• Diagnostic test volume reached 43.7 million in Q2 2025, up 7.7% year-over-year.

• B2B revenue grew 26.0% year-over-year; B2C revenue up 16.8% year-over-year.

• Operating expenses rose 22.3% year-over-year, slightly below revenue growth.

• Recurring EBITDA margin improved by 0.5 pp to 26.0% in Q2 2025.

• Net profit margin was 11.3% in Q2 2025.

Outlook and guidance

• 2025 revenue expected to grow in the low 20s percent year-over-year.

• Average test selling price projected to increase in the low teens percent year-over-year.

• Diagnostic test volume anticipated to grow at a high single-digit percent year-over-year.

• Recurring EBITDA margin for 2025 anticipated to be close to 2024 levels, with some margin pressure from wage increases.

• CapEx (excluding M&A) projected at PLN 100–150 million; M&A CapEx at PLN 80–100 million.