Denmark · Delayed Price · Currency is DKK Trifork Group AG Earnings Call Transcripts
Fiscal Year 2026
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Double-digit organic growth and expanding product margins drove strong Q2 results, with AI and data sovereignty fueling demand in both public and private sectors. Strategic divestments and disciplined capital allocation support a robust balance sheet and continued margin improvement.
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Q1 2026 delivered 8% organic growth and 27% EBITDA growth, driven by a product-led strategy and strong public sector wins. Product revenue rose to 45% of total, with margins improving and guidance maintained for 7%-11% organic growth for the year.
Fiscal Year 2025
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Record revenue of EUR 221 million in 2025 with 7% organic growth and strong Q4 margin improvement. Product revenue rose to 35% of total, driven by demand for AI and data solutions. 2026 guidance targets EUR 230–240 million revenue and further margin gains.
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Q3 saw 25% growth in platforms and products, strong public sector wins, and improved margins. Full-year revenue is set to break records, with EBITDA close to historic highs and cost savings fully realized in Q4.
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Revenue grew 5.1% in Q2 and 9.5% for H1 2025, with strong Run segment growth offsetting declines in Build and Inspire. Full-year guidance is maintained, with H2 expected to deliver higher revenue and margins through cost savings and pipeline conversion.
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Q1 2025 saw record revenue with 14.1% growth, driven by a shift to product-led, recurring revenue and strong public sector wins. Margins are set to improve in H2 as cost savings take effect, and guidance is maintained despite macro risks.
Fiscal Year 2024
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2024 delivered modest growth with Q4 recovery, driven by strong U.S. performance and a shift to product-led business. 2025 guidance targets 10%-15% growth, supported by cost-saving measures and a robust pipeline. Labs and Run segments showed strong profitability.
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Revenue and EBITDA for 2024 are expected to be flat or lower than 2023, with significant cost-saving measures underway. Growth is driven by U.S. and public sector contracts, while automotive and construction remain weak. A one-off gain is possible from cyber business deconsolidation.
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Q2 2024 saw a 7% organic revenue decline and lower EBITDA, prompting a guidance cut to 5% growth and a 14.1-15.8% margin. Public sector wins and Labs growth support a positive outlook for 2025-2027, while cyber protection remains a drag.