Diagnostyka reports very strong results for Q3 2025 Recurring EBITDA exceeded PLN 152 million
Diagnostyka, the leading medical diagnostics provider in Poland, has reported its results for Q3 2025, posting further revenue growth and strengthening its position as a leader in laboratory and imaging diagnostics. Operating revenue reached PLN 615.1m (+26.6% y/y), while Recurring EBITDA came in at PLN 152.2m (+22.3% y/y). Net profit attributable to equity holders of the parent company amounted to PLN 78.1m (+52.5% y/y). Free cash flow (FCF) of PLN 127.6m confirms the Group’s strong financial fundamentals and its ability to finance growth from its own resources.
The dynamic increase in the number of tests performed, the steady rise in the average price in laboratory diagnostics, and the continued expansion in imaging diagnostics were the main drivers behind Diagnostyka’s very strong results in the third quarter. And the reasons why we can say – once again – that we have delivered a successful quarter. We are consistently implementing our vision of building a comprehensive diagnostic ecosystem that genuinely improves the quality and length of patients’ lives by supporting effective prevention. An important part of our efforts is also strengthening the area related to health longevity – a modern approach to prevention. At Diagnostyka, we want to democratise the idea of longevity, emphasising the importance of essential preventive tests in the pursuit of a long and healthy life
In the past quarter, Diagnostyka recorded an increase in test volumes to 43.0 million, representing growth of 10.9% y/y. At the same time, the average price per test rose by 14.5% y/y, driven by a favourable product mix and the consolidation of entities in the imaging diagnostics segment. The Group consistently executed its growth strategy, strengthening its position in both laboratory and imaging diagnostics while expanding its scale of operations through continued organic growth supported by acquisitions.
The very strong financial results for the third quarter confirm the stability of our business model and the effectiveness of our operational efforts. The key driver of financial performance improvement remained organic growth supported by the consistent execution of our M&A strategy. The high level of free cash flow maintains our ability to finance development and acquisitions from our own resources, while also providing comfortable room to continue sharing generated profits with our shareholders. We are keeping our debt levels under control, maintaining the net debt/EBITDA ratio at a very safe 1.7x
In Q3 2025, a state-of-the-art laboratory was opened in Rzeszów, strengthening the availability of diagnostic services in the region. During the past quarter, the Group continued its active acquisition strategy, completing five transactions – three in laboratory diagnostics and two in imaging diagnostics. The key acquisitions were the purchase of 100% of shares in NZOZ Pracownia Genetyki Nowotworów Sp. z o.o. and 51% of shares in VITA-SKAN Sp. z o.o., which enhance the Group’s capabilities in advanced genetic and imaging diagnostics.
Expansion in the imaging diagnostics market remains a strategic priority for the Group in the coming years.
Imaging diagnostics remains one of the most rapidly growing segments of the medical market, which is why we are consistently strengthening our position in this area. The market is still highly fragmented, creating room for further consolidation. We plan to continue selective acquisitions, focusing on companies that enhance our capabilities and scale of operations
On 30 April 2025, the “Profilaktyka 40 Plus” programme, funded by the National Health Fund (NFZ), came to an end. In its place, a new initiative – the “Moje Zdrowie” programme – was launched in May, based on different organisational principles. Diagnostyka does not act as a direct provider under this programme, which makes it impossible to precisely determine its impact on the Group’s sales performance. However, publicly available information indicates that the new programme enjoys strong interest among patients, which directly translates into increased interest in preventive testing.
In its cooperation with the healthcare system, the Group has signed 16 contracts this year with the National Health Fund (NFZ) under the Cervical Cancer Prevention Programme, ensuring coverage across all voivodeships. Diagnostyka operates modern laboratories specialising in cytology and molecular diagnostics as well as liquid-based cytology (LBC), supported by an experienced and highly skilled team. This has positioned the company as a leading partner for the healthcare system within the programme.
On 19 September 2025, Diagnostyka’s shares were included in the mWIG40 index, which brings together mid-cap companies listed on the Warsaw Stock Exchange. mWIG40 is one of the key indices of the Warsaw market and is widely used as a benchmark by investment funds – both active and passive (ETFs and index funds).
The capital market is an integral part of our growth strategy. Inclusion in the mWIG40 index is a testament to the Company’s consistent development and its increasingly strong position among issuers listed on the Warsaw Stock Exchange
The full report for the third half-year of 2025 is available here.
