Selvita S.A. (SLV) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was PLN 342.2 million, a 1% decrease year-over-year, mainly due to currency effects and lower Drug Discovery segment sales.

• EBITDA (excluding incentive scheme) was PLN 55.8 million, down 24% year-over-year, with margin at 16% versus 21% in 2023.

• Net loss (excluding incentive scheme) was PLN -2.9 million, compared to a net profit of PLN 28.8 million in 2023.

• The company completed the acquisition of PozLab and launched a new biologics drug discovery division in 2024.

• Backlog as of March 2025 was PLN 218.2 million, up 11% year-over-year.

Financial highlights

• Total assets at year-end were PLN 642.1 million; equity was PLN 321.9 million.

• Cash at year-end was PLN 22.5 million, with additional credit lines available.

• Current ratio was 1.14, quick ratio 1.08, reflecting strong liquidity.

• Net debt to equity ratio was 0.92.

• Major customers accounted for 22% of total revenue.

Outlook and guidance

• Backlog for 2025 is up 11% year-over-year, with strong momentum in both Drug Discovery and Drug Development segments.

• Management expects the first half of 2025 to be significantly stronger than the same period last year, but notes macroeconomic and geopolitical uncertainties.

• Planned CAPEX for 2025 is limited to PLN 10 million, with no major infrastructure investments before 2027.