Synektik (SNTP) Q4 2024 earnings summary

Executive summary

• Achieved consolidated revenue of PLN 625m for Q1–Q4 FY2023, up 40% year-over-year.

• Adjusted EBITDA reached PLN 146m, a 50% increase year-over-year.

• Adjusted net result rose 50% to PLN 107m for the period.

• Significant growth in recurring revenue, driven by equipment, IT solutions, and radiopharmaceuticals.

Financial highlights

• Q4 FY2023 revenue was PLN 142m, up 4% year-over-year.

• Q4 FY2023 adjusted EBITDA was PLN 35.2m, up 11% year-over-year.

• Q4 FY2023 adjusted net result increased 27% year-over-year.

• EBITDA margin for equipment, IT, and services segment at 28%; radiopharmaceuticals segment at 36%.

• Positive operating cash flow of PLN 88.1m for Q1–Q4 FY2023.

Outlook and guidance

• Secured orders worth PLN 360m in FY2023; backlog at PLN 36.1m as of September 2024.

• Active offers valued at PLN 141.5m at period end, with a significant portion converted to contracts.

• Extension of distribution agreement with Intuitive to 2029 and expansion into Baltic markets.

• Partnership with Hologic as exclusive distributor in Poland for diagnostic devices.