Beneficial results for MakoLab in the first quarter. The company will pay a dividend.

Recent reports from MakoLab indicate its strong financial position. In the first quarter of 2024, the company achieved revenues of 18.4 mln PLN and positive profitability indicators, including the EBITDA of 2.1 mln PLN and the net profit of 1.4 mln PLN. The company's annual report confirmed the results for 2023 presented in the fourth-quarter report. The company plans to pay shareholders the dividend from last year's profit and expects growth in the coming years - mainly through the implementation of artificial intelligence tools and methods in its service offerings as well as its operational activities.

In the published report for the first quarter of 2024, MakoLab reported sales of 18.4 mln PLN. This is 7% less than in the same period of the previous year. Export services, which accounted for 74% of revenues, continue to dominate MakoLab's activities. The company achieved the profit of sales of 1.9 mln PLN (10% of revenues), the EBITDA of 2.1 mln PLN (11% of revenues), and the net profit of 1.4 mln PLN (8% of revenues). The latter was negatively impacted by the strengthening of the Polish zloty against foreign currencies, resulting in a loss on financial activities.

We are satisfied with the results achieved in the first quarter, says CEO Wojciech Zieliński. The lower sales compared to 2023 is primarily the effect of a 'high base.' The first quarter of last year was exceptionally good both historically and within the entire year of 2023. We are still experiencing a slowdown in the 'software house' services sector, so we are pleased that, thanks to cost control, we maintain decent profitability indicators. This is the result of the work of the entire MakoLab team, for which I thank them.

A recently published annual report for 2023 confirmed the results published in mid-February, including sales of 72.2 mln PLN (a 5% increase year-over-year), the EBITDA of 5.4 mln PLN, and a net profit of 2.1 mln PLN. The company informed in reports that the Management Board and the Supervisory Board recommend paying the dividend from the profit for 2023 amounting to 838.4 thousand PLN (39% of net profit, 0.12 PLN per share). Thus, the company intends to continue its current policy of sharing profits with the shareholders.

In the annual report, the company's Management Board declares that its goal for 2024 and the following years is further revenue and profitability growth. This is to be achieved primarily through the implementation of artificial intelligence methods and tools on both the service offering and operational activities.

Since the beginning of the year, we have been systematically working to implement artificial intelligence into our service offerings and to automate and streamline internal processes, adds CEO Zieliński. We want to showcase the first results in the summary of the second quarter. One element of this transformation is seeking partners who will complement our competencies and solutions, allowing us to grow faster together.

27th May 2024
3 min. read

Martin Kanaan

Head of Marketing and Business Development

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