A successful quarter is behind us, bringing significant growth for the entire Group, as clearly seen in the financial results at the end of September. In the third quarter alone, adjusted EBITDA year-on-year increased by 30%, reaching PLN 36.2 million, while net profit exceeded PLN 16.8 million. This is three times more than the result for the third quarter of the previous year. It's worth noting that since the beginning of the comparative period until now, we haven't made any acquisitions, so this record-breaking quarter is solely attributed to organic growth - says Jakub Dwernicki, CEO of cyber_Folks.
Cumulatively, since the beginning of the year, cyber_Folks Group's revenues have exceeded PLN 347 million, a 24% increase compared to the same period last year. Net profit has risen from PLN 22.8 million to PLN 50.6 million (122% growth), and adjusted EBITDA has increased by 43% to PLN 102.8 million.
We possess extensive expertise in the operational areas we operate in: online presence, business automation, and communication. We're the top choice for clients who value comprehensive competence and understanding of conducting business online, especially in the e-commerce sector. This year, we're placing even more emphasis on developing our own solutions. The foundation of our strong market position lies in adapting to changes, analyzing trends, and creating innovative products - adds Jakub Dwernicki.
For the past few months, the _Stores online store creator has been available, allowing customers to create their own online stores in just a few simple steps. The product is rapidly evolving, gaining more customers each month. In October alone, we acquired over 100 new online stores. Currently, cyber_Folks is working on new products that harness the potential of artificial intelligence in automating operations and online presence for small and medium-sized enterprises.
In July of this year, the merger process between R22 and cyber_Folks was finalized. One of the goals of creating a single strong brand is to provide a comprehensive response to the needs of investors and clients, as well as to simplify the Group's structure. Currently, over 350,000 customers in over 100 countries benefit from cyber_Folks' services.
In October, cyber_Folks, as the first Polish technology company listed on the Warsaw Stock Exchange, launched the Investor Benefits Program. This initiative aims to increase engagement among current shareholders and customers. Program participants will receive a range of benefits, including discounts on services and access to free SEO monitoring and website services.
The name change to cyber_Folks and the launch of the Investor Benefits Program are strategic initiatives that demonstrate the areas of focus we want to concentrate on. We aim to build a strong brand and strong relationships with the Group's stakeholders. For many years, we have demonstrated that it is possible to grow very dynamically while also making money and paying dividends to investors. We consistently aim to share profits with our shareholders in the form of regular dividends. In September this year, shareholders received over PLN 13 million PLN. We increase this amount every year. - says Robert Stasik, Vice President of cyber_Folks.