9M 2025 Financial Highlights
Adjusted Revenues at Euro 125.7 million, +9.2% vs 9M 2024 (Euro 115.2 million)
The increase was driven by the growth in reported ARR revenues, which amounted to Euro 102.3 million, up +11.6% compared to 9M 2024 (Euro 91.7 million), of which +4.9% was organic growth (+10.3% gross of churn effect), broken down as follows: Italy Euro 40.9 million, accounting for 91.2% of total revenues, showing a strong improvement compared to 9M 2024 (83.6%), with organic growth of +7.5% (+12.8% gross of churn effect and clean-up of non core revenues); Germany Euro 51.6 million, representing 94.0% of total revenues ex-Gecko (98.3% in 9M 2024 and 96.1% in FY 2024), showing growth of +9.1% compared to 9M 2024, of which Euro 47.1 million from organic revenues +2.7% (+9.0% gross of ordinary and extraoridnary churn effect); Switzerland: Euro 9.8 million, equal to 64.4% of total revenues (68.9% in 9M 2024).
9M 2025 Financial Highlights
125.7 mln
REVENUES
Revenues of Euro 125.7 million, +9.2% compared to 9M 2024 (Euro 115.2 million). Reported Group ARR Revenues of Euro 102.3 million, +11.6% vs H1 2024 (Euro 91.7 million)
50.9 mln
ADJUSTED EBITDA
Adjusted EBITDA of Euro 50.9 million, +19.5% compared to 9M 2024 (Euro 42.6 million). Group margin in revenue at 40.5% (37.0% in 9M 2024) still affected by the dilutive effect of the consolidation of the business unit Edge&Cloud, Econis AG, and Michgehl & Partner, whose synergies began to materialize during the nine months and whose full impact is expected over the next quarters. The “like-for-like” margin stood at 43.2%, up 619basis points vs 9M2024
14.1 mln
ADJUSTED NET ADJUSTED
Adjusted Net Profit of Euro 14.1 million, +15.9% compared to 9M 2024 (Euro 12.2 million)
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