Infotel (INF) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 revenue stable at €70.0m, with a minor -0.5% year-over-year decrease due to one fewer working day.

• Nine-month 2025 revenue at €216.4m, down -1.4% year-over-year, reflecting a slowdown in the earlier decline.

• Initial signs of recovery in several sectors, with positive trends expected for year-end.

Financial highlights

• Q1 2025 revenue: €75.4m (-4.6% YoY); Q2: €71.0m (+1.3% YoY); Q3: €70.0m (-0.5% YoY).

• Services revenue for Q3: €65.9m (-0.6% YoY); Software revenue: €4.0m (+0.5% YoY).

• Software revenue for nine months: €11.1m (+13.3% YoY).

• Orlando software suite generated €1.3m in Q3 and €3.6m in nine months (+28.6% YoY).

• IBM royalties in Q3: €1.7m.

Outlook and guidance

• Anticipates gradual resumption of growth and improved profitability in H2 2025 compared to H1.

• Positive signs for year-end, with new projects in preparation at major accounts.