MakoLab hits record quarterly sales and notes a year-on-year rise in profitability

In its Q4 2024 report, MakoLab announced record quarterly sales of PLN 20.7 million, a 16% increase on the same period in 2023. The company closed sales for 2024 at PLN 72,332,000, representing a slight increase in comparison with the preceding year.

Annual profitability indicators improved significantly. The EBITDA result was PLN 5,857,000, compared with PLN 5,376,000 for 2023, and the net profit was PLN 4,039,000, compared with PLN 2,174,000 for 2023.

The company’s quarterly report highlighted two innovative deployments created for a joint Kruba Group and Renault Polska project, Renew Factory. One is a module that leverages artificial intelligence (AI) to identify vehicle damage shown in photographs and the other is a mobile application for verifying a used vehicle’s technical status and generating a Digital Used Car Certificate. Both have led to significant improvements in the efficacy and efficiency of Renew Factory’s processes.

MakoLab also produced a proof of concept commissioned by a leading European premium car manufacturer for a management solution that handles roles, permissions and data access for users of multiple, coexisting IT systems. The tool solves the problem of controlling permission granting in complex, multi-system environments, which is particularly crucial to ensuring their security.

In addition, the company announced marketing and sales activities relating to AI-based services. Despite the enormous popularity of the term ‘AI’ itself, clients are still treading cautiously when it comes to implementation and are looking for AI-appropriate business applications.

The full Q4 report can be found at https://makolab.com/investor-relations/komunikaty/mako-lab-raport-kwartalny-za-iv-kwartal-2024 (Polish only)

Translated from the Polish by Caryl Swift