Sword Group (SWP) H1 2025 TU earnings summary

Executive summary

• Achieved 12.1% organic revenue growth in Q2 2025 and 12.0% in H1 2025 on a like-for-like basis, in line with the 2028 Business Plan.

• Profitability remained stable, with all indicators pointing to an acceleration in the second half of the year.

• Backlog remains high, supporting strong visibility for upcoming quarters.

• External growth strategy is progressing, with several acquisition targets under advanced evaluation.

Financial highlights

• Q2 2025 consolidated revenue: €90.3m, up 12.1% year-over-year on a like-for-like basis.

• H1 2025 consolidated revenue: €175.8m, up 12.0% year-over-year on a like-for-like basis.

• Q2 2025 EBITDA margin: 12.0% (€10.8m); H1 2025 EBITDA margin: 12.0% (€21.1m).

Outlook and guidance

• Reaffirmed commitment to the 2028 Business Plan.

• Anticipates acceleration in business dynamics and profitability in H2 2025.

• Upcoming half-year results and outlook to be detailed at the September 10 financial meeting.