Sygnity's final results for the fiscal year FY2022/23, which began on 1 October 2022 and ended on 31 December 2023, were consistent with the preliminary results. We expect a neutral reaction from investors.
▪ In the fifth quarter of the 15-month FY'22/23 reporting period, Sygnity generated revenue of PLN 65.8m, marking a 6 increase from the corresponding year-ago period.
▪ Gross margin for the quarter was 36.8% vs. 38.1% a year earlier and 32.0% on average in January-September 2023.
▪ SG&A expenses amounted to PLN 9.4m vs. PLN 9.9m a year earlier.
▪ Other operating activities produced a gain of PLN +0.3m in Q5 vs. PLN +0.2m the year before.
▪ EBITDA came in at PLN 17.4m after a 7% y/y rebound.
▪ EBITDA margin reached 26.4% after a small y/y rise.
▪ Pre-tax profit approximated PLN 15.8m.
▪ After a tax credit of ca. PLN 4.4m (PLN 2.0m current tax credit + PLN 2.4m deferred tax credit), net profit for 5Q'22/23 came in at PLN 20.2m.
