Wiit (WIIT) Q2 2025 earnings summary

Executive summary

• Adjusted revenues rose 17.3% to €85.3M in H1 2025, driven by organic growth and acquisitions in Italy, Germany, and Switzerland.

• Recurring revenues increased 19.1% to €69.3M, representing 88.4% of total revenues.

• Profitability improved with adjusted EBITDA up 30.3% to €34.8M and adjusted net profit up 37.1% to €10.0M.

• Major contract renewals and new agreements in Italy and Germany, including multi-year deals up to €9.8M, supported growth.

• CEO highlights record profitability in Italy and visible synergy benefits in Germany.

Financial highlights

• Adjusted EBIT grew 33.0% to €18.5M, with EBIT margin at 21.6% (23.4% like-for-like).

• Adjusted EBITDA margin reached 40.8% (45.4% like-for-like), up from 36.7% in H1 2024.

• Net debt adjusted stood at €178.2M as of June 30, 2025, up from €163.0M at year-end 2024.

• Net financial debt including IFRS 16 was €224.1M as of June 30, 2025.

• Operating cash flow was €19.1M; cash and equivalents at period end: €12.3M.

Outlook and guidance

• Continued focus on cloud, SaaS, PaaS, and IaaS solutions, with emphasis on cybersecurity and process automation.

• Ongoing M&A activity in the D-A-CH region to support European expansion.

• Management confirms business plan targets, citing high contract visibility and recurring revenue base.

• Evaluating debt capital market opportunities ahead of €150M bond maturity in October 2026.