The publicly-listed producer of radiopharmaceuticals and supplier of advanced medical solutions generated a record-breaking EBITDA of PLN 80.9 million in H1 2024 (October 2024 – March 2025) and a net profit of PLN 55.2 million on continuing operations. The Group’s revenue totaled nearly PLN 328 million with almost half of that figure in the form of recurring revenue.
The segment consisting of supplying medical equipment and IT solutions and providing maintenance and measurement services posted revenue of PLN 304.3 million in H1 2024. The segment’s recurring revenue surged upwards by 64% yoy to PLN 145.5 million. The segment’s EBITDA rose 8% yoy to PLN 82.8 million, while EBITDA climbed 4.4 percentage points to 27.2%.
The revenue generated by the radiopharmaceuticals segment grew 5% yoy to PLN 23.6 million (net of intragroup transactions). In the past half year the Group expanded the sales of its core radiopharmaceuticals by 9% to the record-breaking level of PLN 12.6 million coupled with a 16% increase in the sales of special radiopharmaceuticals (to PLN 4.8 million). This segment wrapped up the first part of the year with EBITDA of PLN 7.7 million.
In March of this year the Management Board of Synektik SA made the directional decision to launch the project of dividing the Group. As part of this process, the Group’s research and development activity in the field of research into new and innovative radiopharmaceuticals conducted by the Center for Research into New Particles including the cardio marker project is to be spun off into a separate publicly-listed company. In connection with commencing the spinoff project the method of presenting the Group’s results has been modified. The statement on comprehensive income for H1 of this year presents revenue and expenses on continuing operations, i.e. operations that will remain in Synektik SA. The net result on the operations of the Center for Research into New Particicles, which totaled PLN -7.6 million in H1 is presented as the result on spun-off operations.
“The 2024 financial year has been a landmark year for the Synektik Group in corporate and business terms. In the first half of the year we launched operations in the Baltics, we paid out a record-breaking dividend exceeding PLN 70 million and we kicked off work to divide the Group. Concurrently, we have pursued our path for dynamic business growth on an unwavering basis whereby we have delivered record-smashing financial results. We can currently posit that the latter half of the year will entail an extraordinary amount of diligent effort and business success, especially in the segment consisting of supplying medical equipment and solutions. We are active participants in the process of modernizing the Polish healthcare sector, which is accelerating, and which involves spending the funds allocated by the National Recovery and Resilience Program. We have entered the latter half of the year with more than PLN 220 million worth of projects related to the sales of medical equipment, where the Group’s overall sales potential in the next fifteen or so months is substantially higher, even several times higher”, remarks Cezary Kozanecki, Synektik’s founder and CEO.
The Group’s expansion executed steadily for more than 8 years in the distribution of innovative therapeutic equipment is bearing fruit not only in the form of climbing equipment sales but also in the form of the Group’s rapidly-growing recurring revenue associated with the greater demand for the consumable materials and accessories for the medical equipment the Synektik Group supplies to its clients. The rapid growth of the robotic surgery market in Poland, the Czech Republic and Slovakia is one of the driving forces. In the most recent quarter 8.1 thousand surgical procedures were conducted in these countries with the assistance of da Vinci systems (the Synektik Group is their sole distributor in these countries), which was up by roughly 60% versus one year ago. The number of procedures using the assistance of da Vinci in this region shot up by approximately 64% to nearly 27 thousand in the last 12 months. In the past half year the Synektik Group sold and installed 12 da Vinci systems in Poland, the Czech Republic and Slovakia. As at the end of March 2025, the Group provided maintenance care to 100 da Vinci systems.
Dariusz Korecki, Vice-President of Synektik highlights that the Group has the potential to grow dynamically not only in robotics but also across a broader array of therapeutic and diagnostic products. “We are involved in the process of modernizing health care across the region on many planes. In particular, we offer and supply advanced radiological and diagnostic equipment and IT solutions to clients as part of the investment processes associated with implementing the National Recovery Program. We are steadily working on enlarging our product offering to include the leading innovative solutions offered by third-party producers and our own proprietary solutions”, remarks Dariusz Korecki.
