Synektik Group increased its revenue by 89% year on year to PLN 292.3 million in the third quarter of the 2025 financial year. EBITDA rose by 72% to PLN 71.5 million.
During the first nine months of the financial year, the Group’s sales increased by more than half to PLN 733.4 million, while EBITDA climbed by 55% to nearly PLN 190 million. The record results were driven primarily by higher sales of advanced medical equipment and the continued expansion of recurring revenue across both business segments.
Synektik’s consolidated net profit from continuing operations increased by 80% in the third quarter, reaching PLN 55.1 million.
The Group’s total net profit for the first nine months amounted to PLN 386.4 million. Nearly PLN 138 million came from continuing operations, representing a 61% year-on-year increase. The remaining amount included, among other items, the results of the operations transferred to Syn2bio.
Medical equipment sales reach a record level
The segment responsible for the sale of advanced medical devices and IT solutions delivered another exceptionally strong quarter, supported by record equipment sales and growing recurring revenue.
Recurring revenue generated from the supply of consumables and accessories, as well as service activities, increased by 26% in the third quarter to PLN 103.6 million. Over the first nine months of the financial year, it rose by 28% to PLN 291 million.
Revenue from medical equipment sales tripled during the quarter to PLN 175.3 million. Across the first three quarters of the financial year, equipment revenue increased by 86% to PLN 401.6 million.
Strong contract sales and recurring revenue resulted in the segment’s total quarterly revenue doubling to PLN 278.9 million. EBITDA generated by the segment increased by 78% year on year to PLN 76.1 million.
For the first nine months of the financial year, the segment’s revenue rose by 56% to PLN 692.5 million, while EBITDA increased by 57% to PLN 197.1 million.
Radiopharmaceutical revenue grows over nine months
Synektik’s radiopharmaceutical segment generated revenue of PLN 13.4 million in the third quarter, compared with PLN 14.8 million in the corresponding period of the previous financial year.
Over the first nine months, the segment increased its sales by 7% to PLN 40.9 million.
Sales of the Group’s proprietary products, including basic and specialised radiopharmaceuticals supplied under long-term contracts, continued to rise. This supported further growth in the Group’s recurring revenue.
The segment recorded EBITDA of PLN 3.6 million in the third quarter and PLN 12.3 million during the first nine months. Both figures were lower than in the corresponding periods of the previous year, partly due to higher product logistics costs.
Synektik enters final quarter with a strong pipeline
Cezary Kozanecki, founder and CEO of Synektik, said the Group had completed another intensive and successful period, achieving record financial results.
“The sales and operating results generated over the past nine months are not only record-breaking but also exceed our best full-year results achieved to date,” Kozanecki said.
He added that the company was continuing to work on increasing its value in both the short and long term.
Synektik entered the final quarter of the financial year with a combined backlog and active bids for equipment deliveries in Poland and foreign markets worth more than PLN 200 million. According to Kozanecki, the company is gradually converting these opportunities into sales and completed contracts.
In line with its development strategy, Synektik is investing in the geographical and product diversification of its operations, which the Group sees as key pillars of its long-term growth.
International sales already account for more than 20% of the Group’s total revenue.
“By consistently implementing our development plans in the Czech and Slovak markets, continuing our expansion in the Baltic states and launching operations in Ukraine, we expect to systematically increase both the value of exports and the share of international sales in the Group’s total revenue in the coming years,” Kozanecki said.
Group maintains net cash position after record dividend
Dariusz Korecki, Vice-President of Synektik Group, said the company’s business model allows it to invest in further development while also sharing the profits it generates with shareholders.
In the first half of the 2025 financial year, the company paid a record dividend of nearly PLN 92 million. Despite the payment, Synektik ended the third quarter with cash exceeding its interest-bearing liabilities by almost PLN 36 million.
“We are investing consistently and carefully in building markets for the innovative products offered by the Group. We are also developing our proprietary solutions, including in the area of information technology, while looking for new business opportunities through both organic growth and mergers and acquisitions,” Korecki said.
He added that Synektik has the organisational, commercial and financial capabilities required to remain at the forefront of the technological transformation of healthcare in Central Europe.
“We have the potential to continue increasing Synektik’s value in the coming years while remaining among the leaders of the healthcare technology revolution in the region,” Korecki concluded.
Source: CEO.com.pl
