All for One (A1OS) Q4 24/25 earnings summary

Executive summary

• Revenue declined 2% year-over-year to EUR 504 million, with recurring revenues now making up over 53% of total revenue, largely offsetting declines in license and maintenance business.

• The company completed its transformation to an international cloud IT consulting and service provider, focusing on SAP cloud solutions and industry-specific offerings.

• Workforce reduced by 6% to 2,653 employees, incurring EUR 3.3 million in redundancy and severance costs.

• Strong operating cash flow of EUR 39.7 million and free cash flow of EUR 20.3 million, with cash position increasing to EUR 67.3 million.

• Dividend payout ratio proposed at 52%, with a dividend of EUR 1.20 per share.

Financial highlights

• EBIT before M&A effects (non-IFRS) was EUR 26 million, down 24% year-over-year, impacted by EUR 3.3 million in severance and a EUR 2 million impairment from the customer experience business.

• Net income for the period was EUR 11.4 million, a 38% decrease year-over-year.

• Earnings per share declined from EUR 3.70 to EUR 2.32 year-over-year.

• Cash and cash equivalents increased by EUR 4.7 million to EUR 67.3 million; net debt reduced to EUR 43 million.

• Equity ratio improved to 33% from 32% year-over-year.

Outlook and guidance

• Revenue for the next fiscal year is expected between EUR 500 million and EUR 530 million, with EBIT margin before M&A effects targeted at 5.5%-6.5%.

• Management expects further sustained EBIT margin improvement for FY 2026/27.

• Midterm targets include organic growth in the mid-single percentage range and further growth through acquisitions, supported by EUR 49 million in fresh capital raised for M&A.

• Management remains conservative in its outlook due to ongoing geopolitical and market uncertainties.