Switzerland · Delayed Price · Currency is CHF SoftwareOne Holding AG Earnings Call Transcripts
Fiscal Year 2025
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2025 saw transformational growth with the Crayon acquisition, driving revenue up 1.4% like-for-like and strong Q4 momentum. Adjusted EBITDA margin improved to 20.9%, with further margin and revenue growth expected in 2026, supported by AI, CSP, and channel expansion.
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Q3 2025 saw a return to growth with revenue up 0.6% year-over-year and adjusted EBITDA rising 18.1%, driven by Crayon integration and cost synergies. CSP and services momentum offset direct business declines, and 2025 guidance for flat revenue and >20% EBITDA margin is confirmed.
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Revenue declined in H1 2025 due to Microsoft incentive changes and North American challenges, but cost control improved EBITDA margins. Integration with Crayon is on track, with early cost synergies realized and a return to growth expected in Q3. Guidance for 2025 is flat revenue growth and EBITDA margin above 20%.
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Q1 2025 saw a 5.7% revenue decline but improved profitability from cost savings, with NORAM underperforming while APAC excelled. The Crayon merger is on track, and strong H2 recovery is expected as Microsoft incentive headwinds ease.
Fiscal Year 2024
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2024 saw modest revenue growth and margin pressure amid macro headwinds and GTM disruptions, but decisive cost reductions and organizational changes set the stage for a strong 2025. The Crayon combination is expected to deliver significant synergies and value creation.
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A major acquisition will combine two complementary global software and cloud providers, creating a market leader with over 200,000 customers in 70+ countries. The deal, valued at NOK 172.5 per share for Crayon, targets significant cost and revenue synergies, with EPS accretion expected by 2026 and strong support from key stakeholders.
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Q3 2024 saw 3% revenue growth and a 16.6% adjusted EBITDA margin, both below expectations due to GTM execution issues and macro headwinds. A CHF 50 million cost savings program is underway, with revised 2024 guidance for 2%-5% revenue growth and 21%-23% EBITDA margin.
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Revenue growth and margin guidance were revised downward due to lower vendor incentives, sales execution issues, and a cautious spending environment. Strategic focus is on customer engagement, cost alignment, and adapting to Microsoft incentive changes, with double-digit growth targeted for 2026.
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Delivered 7% revenue growth and improved margins in H1 2024, with strong regional and business line performance despite macro headwinds. Guidance was revised slightly lower due to DACH and Colombia, but margin targets and Vision 2026 ambitions remain on track.