Profil:
Passus SAPassus IT posts PLN 107.5 mln net profit in 2024, up 19.2 pct y/y
Listed IT software producer and solutions provider specialising in cybersecurity Passus posted PLN 107.5 million (EUR 25.1 mln) in revenue in 2024, up 19.2 percent year on year, and an operating profit of PLN 12.3 million (EUR 2.9 mln), up from PLN 4.8 million (EUR 1.1 mln) a year earlier, the company said in a press release.
At the end of 2024, Passus sold its subsidiary Sycope to group's managers.
"In 2023, we were weighed down by Sycope's development costs, in 2024 the results were supported by the sale of this business, so we decided to show cleaned-up results to make it easier for investors to analyse our report," said the CEO of Passus Bartosz Dzirba, quoted in the press release.
"As for the results themselves, they are very satisfactory. As every year, the fourth quarter was crucial for our business. Usually in these last three months of the year we realise more than half of the whole year's sales and most of the margin," he added.
The CEO continued that the group is growing dynamically without paying for it with margin erosion.
"We want to continue this trend in the coming years, strengthening our market position in the cybersecurity and observability segments," CEO Dzirba said.
"We are also looking at opportunities to acquire new integrator competences and enter new market areas. Finding an investor for Sycope will allow us to make investments that are likely to pay off faster and are not as capital-intensive," he added.
Passus' management board said it will recommend paying a total dividend of PLN 3.5 million (EUR 818,300) from its 2024 net profit, which translates into a dividend of PLN 1.96 (EUR 0.46) per share.
mbi/ ao/ han/