Skarbiec Holding hopes for return of dividends in 2026; continues to discuss acquisitions

"We believe that the implementation of our current and future activities will consistently build the position and market value of Skarbiec Group in the long term. In addition, the acquisition work finalised this year, as well as product and cost restructuring activities, in the opinion of the management, will allow us to return to the payment of dividends to Skarbiec Holding shareholders as early as 2026," said CEO Piotr Szulec, quoted in the press release.

Skarbiec said that in the first half of the 2024/2025 financial year (started July 1, 2024), the group's consolidated net profit amounted to approximately PLN 24.4 million (EUR 5.83 mln), against a net loss of approximately PLN 107,000 (EUR 25,584) in the prior year period. Consolidated revenue from sales of services amounted to approximately PLN 72.2 million (EUR 17.26 mln), up from approximately PLN 33.6 million (EUR 8.03 mln) in the previous financial year.

"The second half of 2024 was marked by the continuation of a number of development and restructuring activities both at group level and in the subsidiary, Skarbiec TFI. These include activities in the area of acquisitions, introduction of new sales and product solutions, tidying up of the Skarbiec TFI fund base, as well as consistent implementation of cost optimisation in the broader business activity," CEO Szulec said.

"We consistently strive for a situation in which we will achieve operating profit irrespective of the amount of the success fee charged. The very good result presented in the reported period was achieved mainly thanks to the variable fee earned by managers on our open-ended investment funds," he added.

As reported in the press release, the group continued discussions related to potential acquisitions of other entities.

According to the CEO, the acquisition of Noble Securities brokerage house is part of the group's plans to offer a wide range of investment products and services, and its finalisation will also allow for a significant diversification of revenue sources, as well as significant cost synergies.

"The signing of the agreement to acquire Noble Securities does not close Skarbiec Holding's activity on the M&A market. Skarbiec Group continues to analyse the situation in the investment fund company industry and, in particular, investment product distributors. We continue to actively pursue discussions in this area," Szulec added.

Skarbiec said that in the second half of 2024, the reconstruction of the structure of funds available in the offer of Skarbiec TFI, a mutual funds subsidiary of Skarbiec Holding, was being carried out.

"This work is intended to stabilise and at the same time improve performance at the operational level of the Society. These activities included merging a large proportion of open-ended funds. Ultimately, this is expected to lead to a significant reduction in the number of funds in the product palette of Skarbiec TFI and systematisation of the companies' product offering," CEO Szulec explained.

The latest project in the area of product and cost optimisation is the launch of the exit process from Poland's employer-sponsored pension plans PPK.

At the end of 2024, the launch of the new Skarbiec24 transaction and communication platform was also finalised.

Skarbiec recalled that the current financial year will end after six quarters in December 2025. From 2026, Skarbiec Holding's subsequent annual reporting periods will coincide with calendar years.

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