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Gamma Communications (GAMA) investor relations material
Gamma Communications H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary9 Sep, 2025
Executive summary
Achieved 12% year-over-year revenue growth to £316.6m, with strong contributions from acquisitions and organic expansion, notably in Germany.
Adjusted EBITDA rose 14% to £70.9m, and Adjusted EPS increased 13% to 47.9p, both in line or slightly ahead of expectations.
Maintained a market-leading position in the UK and Germany, with 90% recurring revenue and a consistent gross margin above 50%.
Over £50 million returned to shareholders in H1, with £60 million expected by year-end through dividends and buybacks; interim dividend up 14% to 7.4p.
Profit before tax fell 10% to £43.5m due to £7.3m in exceptional costs, mainly from the Starface acquisition and Main Market listing.
Financial highlights
Revenue rose to £316.6 million (+12% year-over-year); adjusted EBITDA reached £70.9 million (+14%).
Adjusted EPS increased 13% to 47.9p; recurring revenue comprised 90% of total revenue.
Gross profit margin improved to 54.3% (from 52%), driven by high-margin German cloud business.
Net debt position of £21.6 million after Starface acquisition and buybacks, with strong liquidity via £130 million RCF.
Adjusted cash conversion at 90%, with £64.1 million returned to shareholders YTD.
Outlook and guidance
Full-year 2025 adjusted EBITDA expected in line with consensus (£139.4–143.1 million); adjusted EPS slightly ahead.
2026 headwinds of £6 million in gross profit from PSTN and connectivity, offset by £6–8 million in UK operational savings; £3m exceptional restructuring cost.
Confident in long-term growth drivers, including AI, expanded product portfolio, and further European expansion.
UK gross profit headwinds mitigation plan
Address lower-cost cloud solution trend
Future M&A focus given net debt position
UK macro: specific growth drivers to offset headwinds?
Germany M&A: specific criteria for market share growth?
AI monetization: specific products and timeline?
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Next Gamma Communications earnings date
H2 202524 Mar, 2026
Next Gamma Communications earnings date
H2 202524 Mar, 2026
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Frequently asked questions
Gamma Communications plc. Gamma Communications plc is a telecommunications company that provides a range of unified communication services to businesses. The company's offerings include voice, data, and mobile services, as well as cloud-based communication solutions. Gamma serves various sectors, including public sector, healthcare, retail, and financial services, offering products such as hosted phone systems, SIP trunking, and broadband. The company is known for its focus on providing high-quality, reliable communication services tailored to meet the needs of businesses of all sizes. It is headquartered in Newbury, England, and its shares are listed on the LSE.
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