The cyber_Folks group presented estimated results for the fourth quarter of 2023. During the reported period, sales revenues amounted to PLN 132.4 million (a 17.5% year-on-year increase), adjusted EBITDA reached PLN 38.4 million (a 20.7% year-on-year increase), and cash flows from operating activities totalled PLN 43.1 million (a 36.9% year-on-year increase). As aresult of the annual revision of the Warsaw Stock Exchange indices, cyber_Folkshas significant chances of advancing to the mWIG40 index.
- The results of the reported quarter once again showcased the power of our purely organic business growth, which saw key revenue and profit metrics increase by around 20% annually. There was a significant rise in sales to small and medium-sized enterprises in the prepaid model, translating into a very high conversion of EBITDA into cash flows from operating activities, which grew year-on-year by nearly 40% – said Robert Stasik,Vice President and CFO of cyber_Folks.
In the fourth quarter of 2023, estimated sales revenues amounted to PLN132.4 million (a 17.5% year-on-year increase), adjusted EBITDA stood at PLN38.4 million (a 20.7% year-on-year increase), and cash flows from operating activities reached PLN 43.1 million (a 36.9% year-on-year increase).
In the entire year of 2023, estimated sales revenues increased by 22.4%year-on-year, reaching almost PLN 480 million. During this time, adjusted EBITDA amounted to PLN 141.3 million (a 36.4% year-on-year increase), whilecash flows from operating activities grew by 40.8% year-on-year, reaching PLN136.9 million.
The final values will be presented in the individual and consolidated annual reports for the year 2023, scheduled for publication on March 26th of this year.
According to analysts' calculations that have emerged in the public domain, cyber_Folks has a 60% chance of advancing to the mWIG40 index - an index comprising 40 leading firms listed on the Polish stock exchange - as aresult of the annual revision of the Warsaw Stock Exchange indices. Everything depends on the date chosen by the Warsaw Stock Exchange for the capitalization criterion from the week between February 12th and 16th.
- If the date chosen is February12th, 15th, or 16th, cyber_Folks will most likely advance. Of course, these are just estimates from brokerage houses; the final composition of the indices will be revealed on February 29th. Even in the event of an unfavorable outcome,considering the improving parameters month by month in both market capitalization and trading volumes, moving to the mWIG40 should be a matter of the nearest quarters. – says Robert Stasik,Vice President and CFO of cyber_Folks – From the beginning, as the management, we have been working on increasing the value of the business, financial results, and at the same time, we place strong emphasis on investor relations. Our progress in successive indices is a result of this effort – he adds.