SeSa (SES) Q4 2025 earnings summary

Executive summary

• FY 2025 revenues reached €3,356.8 million, up 4.6% year-over-year, with EBITDA at €240.7 million, up 0.5% year-over-year, and a strong second half and Q4 performance despite challenging market conditions.

• Group adjusted net profit (EAT) for FY 2025 was €95.8 million, down 9.9% year-over-year, impacted by higher amortization and financial charges.

• Net financial position (net cash) stood at €158.4 million, reflecting significant investments and shareholder returns.

• Workforce grew 14.8% to 6,532, mainly via acquisitions, with growth concentrated in Business Services, Digital Green, and Software and System Integration.

• The Group continues to focus on digital innovation, sustainability, and long-term value creation, with a strong ESG commitment.

Financial highlights

• FY 2025 revenues: €3,356.8 million (+4.6% Y/Y); EBITDA: €240.7 million (+0.5% Y/Y); EBITDA margin: 7.2%.

• Q4 2025 revenues: €839.9 million (+3.1% Y/Y); Q4 EBITDA: €64.1 million (+8.2% Y/Y), margin at 7.6%.

• Adjusted EBIT for FY 2025 was €185.4 million, down 3.8% year-over-year; adjusted net profit margin at 2.9%.

• Reported net profit was €67.4 million, down 18.8% year-over-year.

• Dividend per share: €1.00 for FY 2025.

Segment performance

• ICT Value-Added Solutions revenues were €2,075.5 million, down 3.4% year-over-year; EBITDA €90.0 million, down 5.8%.

• Digital Green VAS revenues rose 42.9% to €343.8 million; EBITDA up 13.6% to €24.5 million.

• Software and System Integration revenues increased 6.4% to €875.7 million; EBITDA margin 10.8%.

• Business Services revenues grew 34.7% to €153.5 million; EBITDA up 50.9% to €27.3 million, margin at 18%.

• GreenSun Srl contributed €83.7 million in H1 2025 revenues and €5.2 million in EBITDA.