Synektik (SNTP) Q2 2026 earnings summary

Executive summary

• Half-year revenue reached PLN 441.2 million, up 36% year-over-year, with EBITDA from continuing operations at PLN 118 million, excluding a one-time non-cash profit from the Syn2bio spin-off.

• Net profit from continuing operations increased by 50% year-over-year to PLN 82.9 million, with a one-off gain of PLN 261.3 million from the Syn2bio spin-off.

• Significant new contracts signed totaling PLN 311 million, more than double the previous year, with much of this backlog to be recognized in the second half.

• Paid a record dividend of PLN 91.7 million (PLN 10.75 per share) in February 2026.

• Exclusive agreements signed for new technologies, including HistoSonics Edison system, and expansion into Ukraine with Intuitive.

Financial highlights

• Q2 FY2025 consolidated revenue was PLN 213.2 million, up 71% year-over-year, with medical business up 76% and radiopharmaceuticals up 19%.

• EBITDA for the first half rose 46% to PLN 118 million, with medical devices up 45% and radiopharmaceuticals up 30%.

• Net cash from operating activities was PLN 78.1 million in H1 FY2025.

• Basic earnings per share for the period were PLN 38.85, compared to PLN 5.58 a year earlier.

• One-time profit of PLN 261 million and equity reduction of PLN 304 million due to the Syn2bio spin-off.

Outlook and guidance

• Entered H2 FY2025 with nearly PLN 280 million in backlog and active offers, a 20% year-over-year increase.

• Recurring revenue projected to reach 60% of total revenue in the next two years, driven by services and consumables.

• Anticipated delivery of 35–37 systems for the full fiscal year, up from initial guidance of low 30s.

• Management expects continued growth in medical equipment and IT segments, with seasonally higher revenues in the second half.

• Expansion into Ukraine is planned, focusing on distribution and service of da Vinci robotic systems, with risk mitigation measures in place.