Synektik expects better y/y results for entire financial year and increased contracting

"In the last quarter, sales grew by 24 percent, including 22 percent growth in our largest segment, i.e. sales of medical devices and IT solutions, and (we recorded) 51 percent growth in sales in the radiopharmaceuticals segment," deputy CEO Korecki told the videoconference.

"This growth offset the losses at the beginning of the financial year (...). After nine months of the financial year, sales are at a similar level year-on-year, and we expect dynamic sales growth in the current quarter closing our financial year," he added.

Synektik's deputy CEO continued that after this quarter, the group expects to achieve positive sales growth over the twelve-month period and a positive consolidated revenue.

In the third quarter of 2024/25 financial year (April-June 2025), the group's revenue amounted to PLN 154.2 million (EUR 36.34 mln), and after three quarters it reached PLN 482.1 million (EUR 113.63 mln).

"(...) The first quarter (...), when we had lower sales and the base effect was visible (...), was disrupted, but each subsequent quarter was characterised by an increase in normalised EBITDA and sales," Korecki pointed out.

"We expect this trend to continue in the last quarter. For the whole year, we can say that the results will be significantly better than those achieved in the previous year," he assessed.

Synektik expects further growth in recurring revenue.

"We planned an approximately 50 percent recurring revenue for the last twelve months this year, and this goal has been achieved. (...) In the next year or two, we want to increase this level to approximately 60 percent," said the group's deputy CEO.

At the end of June 2025, the group's backlog was nearly PLN 33 million (EUR 7.8 mln). The value of active offers was PLN 137 million (EUR 32.3 mln). The management board expects more contracts.

"The level of contracting is growing. In the largest programme under the KPO – the National Oncology Network – hospitals have begun the process of public tenders, and more and more of these tenders will be on the market, and there will be more information about the contracts being concluded," Korecki said.

Looking ahead to the next financial year, Synektik is also counting on funds earmarked for the digitisation of hospitals and the National Cardiology Network.

"The level of contracting has grown in each subsequent quarter, and considering the timing related to the expenditure of funds from the national recovery plan KPO – the deadline for their settlement is June 2026 - we expect the greatest impact of these funds and the level of contracting in the first quarter of the new financial year and in the 2025 financial year in general," deputy CEO Korecki assessed.

In July, Synektik adopted a plan to split into two independent entities. The newly created company Syn2bio will take over activities related to research into new pharmaceutical molecules and cardiac markers. The remaining activities will remain with Synektik, and both companies will be listed on the Warsaw Stock Exchange.

As announced by the deputy CEO, the next stage of the process is an expert review, and after receiving the opinion, the company will proceed with the preparation and submission of the Syn2bio prospectus.

When asked whether the planned split will affect Synektik's dividend level, Korecki said that it will not have an impact and that the dividend level will depend on financial results and liquidity.

He added that Syn2bio's personnel issues have not yet been determined.

"There will be new people who will join the management and supervisory bodies," Korecki said.

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