Computacenter (CCC) H2 2025 earnings summary

Executive summary

• Achieved strong double-digit growth in gross profit and operating profit for 2025, with outstanding performance in North America and a return to growth in the UK.

• Continued robust free cash flow generation and disciplined capital allocation, supporting strategic investments and acquisitions.

• Major customer base expanded by 27, with significant market share gains in Technology Sourcing and Professional Services.

• Integration Center investments and acquisition of AgreeYa enhanced Professional Services capability in North America.

• Strong balance sheet and record product order backlog position the group well for 2026.

Financial highlights

• Gross invoiced income rose to £13.0bn (+32% YoY), revenue reached £9.2bn (+33.2% YoY), and gross profit increased to £1,144m (+11% YoY).

• Adjusted operating profit grew to £275m (+11.3% YoY), adjusted PBT to £272m (+7% YoY), and adjusted diluted EPS to 175.1p (+9.5% YoY).

• Dividend increased to 74.6p (+5.5% YoY); adjusted net funds rose to £606m (+25.7% YoY).

• Gross profit margin declined to 12.4% from 14.9% due to high-volume, lower-margin Technology Sourcing.

• Free cash flow generation remained strong at £206.9m, with ROCE at 52.2%.

Outlook and guidance

• Committed product orderbook stands at £7.1bn, with growth across all regions.

• Expect further strategic and financial progress in 2026, despite macro and political uncertainties and hardware component shortages.

• Technical guidance for 2026: central costs £60–65m, capex ~£85m, adjusted effective tax rate 29.5–31.5%, and dividend cover 2–2.5x adjusted diluted EPS.