adesso (ADN1) investor relations material

Executive summary

• Achieved 13% year-over-year revenue growth for both Q3 and the nine-month period, reaching €1,084.1 million after nine months, with Q3 revenue at €374.6 million.

• EBITDA rose 17% to €77.9 million for the nine months, with Q3 contributing €40.8 million and a margin of 10.9%.

• Earnings per share improved by 519% to €0.99 for the first nine months.

• Employee count increased by 9% to over 11,100, with 44% of growth abroad, mainly at SmartShore locations.

• Sustained sales and EBITDA growth at 10-year CAGRs of 24% and 26%, respectively.

Financial highlights

• Gross profit after nine months rose 10% to €913.2 million; personnel expenses increased 11% to €736.1 million.

• Earnings before taxes increased from €7.3 million to €12.9 million; tax quota at 52%.

• Free cash flow for nine months was €-69.4 million, mainly reflecting increased working capital.

• Net cash position at the end of Q3 was €-135.5 million, with cash and cash equivalents at €45.2 million.

• Equity ratio declined to 22.8% from 26.1% a year earlier.

Outlook and guidance

• Full-year sales expected near the upper end of €1.35–1.45 billion, with EBITDA forecasted at €105–125 million.

• EBITDA margin target for the year is 8%+, with a long-term goal of 11–13%.

• One additional working day in Q4 2025 is expected to support further earnings growth.

• Q4 expected to bring necessary sales and EBITDA to achieve guidance, though Q4 EBITDA may be slightly lower than Q3 due to seasonality.