Synektik, a listed provider of advanced medical technologies and producer of radiopharmaceuticals, closed the first half of its 2025 financial year with the highest results in its history. In the period from October 2025 to March 2026, the Synektik Group increased revenue by 35% to PLN 441.2 million, while EBITDA rose by 46% year on year to PLN 118.0 million. The dynamic improvement in the company’s performance was driven by rapidly growing recurring revenues in both business segments, as well as higher sales of medical equipment.
The Group’s consolidated net profit from continuing operations for the first half of the 2025 financial year increased by more than half to PLN 82.9 million. Total net profit for the period amounted to PLN 331.3 million, including the results of the business separated into Syn2bio and the accounting gain on the spin-off of that activity, amounting to PLN 261.3 million.
Medical equipment remains the main growth driver
The segment covering sales of advanced medical devices and IT solutions remains the main engine of the Group’s growth, closing another period with strong double-digit increases in both sales and profit.
Sales of medical equipment, IT solutions and service activities in the first half of the financial year rose by 36% year on year to PLN 413.6 million, excluding intra-group transactions. Segment EBITDA increased by 46% to PLN 121.0 million.
The radiopharmaceuticals segment also recorded a solid period. Revenue from this area of activity increased by 17% to PLN 27.5 million, excluding intra-group transactions, while segment EBITDA rose by 13% to PLN 8.7 million.
A key area of value growth for the Group is its rising recurring revenue, generated from supplies of consumables and accessories, services and sales of radiopharmaceuticals under long-term contracts with clients. In the first half of the year, recurring revenue from both business segments increased by 28% to PLN 208.2 million.
Synektik points to strong operating and financial performance
“We have a number of reasons to be satisfied with the operating and financial results achieved in the past half-year. By consistently implementing our strategic business assumptions, we are dynamically developing in the key areas of our activity, increasing sales and, among other things, improving profitability thanks to the operating leverage effect,” says Cezary Kozanecki, President and founder of Synektik.
He emphasises that the Group is successfully developing markets for the innovative medical technologies it offers. This not only generates solid sales revenue, but also increases the stream of recurring revenue, including from the supply of consumables for devices distributed by the Group.
According to Kozanecki, Synektik has grounds to expect continued business growth in the coming quarters and years.
“We have reasons to believe that the second half of the year will also be marked by dynamic development of our business. This will be supported, among other things, by the ongoing intensive modernisation of Poland’s healthcare system using funds from the National Recovery Plan. We are continuing our geographical expansion, growing south of Poland’s border, working on the first deliveries of medical equipment to the Baltic markets, and preparing for the full launch of operations in Ukraine as a distributor of da Vinci systems,” he says.
He adds that product and geographical diversification, combined with rising recurring revenue and its growing share in the Group’s results, provides a solid foundation for increasing the Group’s value in the coming years.
Contract value more than doubled
In the first half of the 2025 financial year, the Group secured contracts for medical equipment deliveries worth PLN 311 million. This was more than twice the total value of orders obtained in the corresponding period of the 2024 financial year.
Synektik entered the second half of the year with a backlog of equipment deliveries and active sales projects worth a total of nearly PLN 280 million.
“After an intensive spring, an extremely busy summer awaits us. Thanks to a systematically developed and strengthened team, as well as the growing efficiency of the organisation, we can successfully compete for new orders, execute a record pipeline of projects and work on bringing further innovative products to the market,” says Dariusz Korecki, Vice-President of Synektik.
One of these products is the Edison system, designed to enable completely non-invasive and highly effective destruction of liver tumours and other soft tissues.
Strong financial foundations
Korecki also points to the strong financial foundations of the Group’s business.
“In the past half-year, Synektik S.A. paid shareholders a dividend in a record amount of PLN 91.7 million, or PLN 10.75 per share. In addition, as part of the completed process of separating the Group’s research and development activity in innovative radiopharmaceuticals into the listed company Syn2bio S.A., we equipped it with funds securing its financial needs,” he says.
Thanks to solid operating cash flows, Synektik ended the half-year with net debt below 0.1 times the Group’s EBITDA for the last 12 months and with the prospect of solid positive cash flows in the coming quarters.
Source: CEO.com.pl
