MakoLab announces growth in 2023

On 14th February, MakoLab S.A. presented its results for the fourth quarter of 2023. The company ended last year with a 5% year-on-year growth in sales, which achieved results that were 30% higher. The EBIDTA reached a value close to that obtained the previous year. The company was awarded three new ISO certificates. Plans for 2024 focus on intensifying the use of artificial intelligence tools in the services MakoLab provides and its in-house operations. Piotr Ignaczak, the company’s CTO, will be joining the Management Board in March.

MakoLab S.A.’s report for the fourth quarter of 2023 contains positive information about the company’s revenues and profitability. Despite the slowdown observed in the software house sector, revenues totalled 72.3 mln PLN, an increase of 5% on 2022. Exports remain the company’s driving force, with a 79% share of sales, although domestic sales for the same quarter reached 25%. The automotive and financial sectors continued to bring in the highest revenues. The company’s cost management was effective, thanks to which, the sales results totalled 4.6 mln PLN representing a 30% increase on 2022. The EBIDTA reached a value of 5.3 mln PLN, falling by 4%. The report states that this is primarily the result of writing down at-risk or overdue receivables. The net profit bore additional financial loss in the form of negative exchange rate differences caused by the zloty’s marked rise in the final quarter of the year. As a result, the company’s profits totalled 2.2 mln PLN, representing a year-on-year fall of 40%.

After very good first five months, we had a difficult second half of the year. We did not replace ending projects with new ones of appropriate scale. As a result, sales in the entire second half of the year were lower than last year, although in the fourth quarter it slightly exceeded it. We had to adjust the quantity and structure of employment to current project needs, as well as limit other expenses. We did this cautiously, remembering that rebuilding resources is very difficult. I am pleased, above all, with the achieved profitability indicators in this difficult year. The fact that despite the slowdown in our industry, we achieved year-over-year revenue growth, is a success of the entire MakoLab team, to whom I am grateful.
says MakoLab CEO, Wojciech Zieliński

During Q4 of 2023, the company was awarded the ISO 9001, 14001 and 45001 certificates of compliance with the corresponding norms, having previously attained ISO 27001.

Compliance with regulations is becoming a 'must' for companies like MakoLab. We assess that in the near future, those who fail to demonstrate compliance with information security principles, have a quality management system, and have implemented policies in the ESG area will fall out of the market. Today, this provides a competitive advantage primarily in winning large projects for global brands.
says Wojciech Zieliński

This year will see MakoLab intensifying its work on the use of artificial intelligence tools. The company already provides commercial services in the field of process automation. Work is also in progress on increasing the efficiency of its software development and maintenance processes, as well as routine, daily tasks. Leading these changes is Piotr Ignaczak, MakoLab’s CTO, who has been appointed to the Management Board by the Supervisory Board with effect from 1st March 2024.

See the MakoLab Q4 report (Polish only)

Read more about Piotr Ignaczak’s appointment to the Management Board (Polish only)

19th February 2024
3 min. read

Martin Kanaan

Head of Marketing and Business Development

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