GDANSK (Reuters) -Polish medical laboratory operator Diagnostyka reported on Thursday an 80.9% year-on-year jump in its full-year net profit, mainly due to higher test volumes and a rise in average
Diagnostyka Sees Significant Profit Increase from Test Volumes
GDANSK (Reuters) -Polish medical laboratory operator Diagnostyka reported on Thursday an 80.9% year-on-year jump in its full-year net profit, mainly due to higher test volumes and a rise in average test prices.
The result was in line with a preliminary estimate of 223.3 million zlotys ($59.46 million).
WHY IT'S IMPORTANT
The results mark Diagnostyka's first earnings report since its February debut on the Warsaw Stock Exchange, with an offering valued at 1.70 billion zlotys in the exchange's first IPO of 2025.
CONTEXT
Diagnostyka controlled 22% of Poland's laboratory testing market in 2023, ahead of competitors Grupa Alab with 9% and Synevo, owned by Sweden's Medicover , with 4%, according to company data.
In April the medical laboratory operator acquired a 51% stake in Eurodiagnostic, which manages mobile diagnostic imaging laboratories, for about 23 million zlotys.
BY THE NUMBERS
Full-year operating revenue rose 23.6% year-on-year to 1.97 billion zlotys, driven by organic growth propelled by a 14.8% increase in test volumes and a 7.3% rise in average test prices, the company said.
On Tuesday, Diagnostyka's management recommended a dividend of 3.13 zlotys per share for 2024.
($1 = 3.7552 zlotys)
(Reporting by Julia Kotowska and Rafal W. Nowak; Editing by Susan Fenton)
