Wiit (WIIT) Q3 2025 earnings summary

Executive summary

• Adjusted revenues rose 9.2% to €125.7M, with recurring revenues up 11.6% to €102.3M, driven by organic growth in Italy and Germany and recent acquisitions.

• Adjusted EBITDA increased 19.5% to €50.9M, with a margin of 40.5% (like-for-like 43.2%).

• Adjusted EBIT grew 17.1% to €26.4M, with a margin of 21.0% (like-for-like 21.8%).

• Net profit rose 15.9% to €14.1M, with profitability improving across all segments.

• Successful bond issuance and refinancing provided funds for M&A and data center expansion, especially in Germany.

Financial highlights

• Organic ARR growth: Italy +7.5%, Germany +2.7%, with higher rates excluding churn.

• Acquisitions (Edge & Cloud, Econis AG, Michgehl & Partner) contributed €25.1M in revenues.

• Adjusted operating costs and personnel costs increased due to acquisitions, nearly offset by synergies.

• Depreciation, amortization, and write-downs rose by €4.4M, reflecting investments and acquisitions.

• Operating cash flow generation of €31.2M.

Segment performance

• Germany: Revenues €67.3M (53.5% of group), EBITDA margin 37.7%, EBIT margin 24.0%.

• Italy: Revenues €43.2M (34.4% of group), EBITDA margin 54.0%, EBIT margin 22.6%.

• Switzerland: Revenues €15.2M (12.1% of group), EBITDA margin 14.9%, EBIT margin 3.1%.

• Germany's gross bookings at end-September were 30% higher than the whole of 2024.

• Organic revenue growth: Italy 7.5% (12.8% excluding HR), Germany 2.7% (9% excluding HR).