Hansen Technologies (HSN) H2 2025 earnings summary

Executive summary

• Achieved operating revenue of $392.5 million for FY25, up 11.2% year-over-year, at the top end of guidance, with strong growth in Communications & Media and Energy & Utilities segments.

• Underlying EBITDA increased 20.9% to $111.7 million, with margins at 28.5%, reflecting improved efficiency and cost discipline.

• Underlying NPAT-A/NPATA up 43% to $56.9 million, and NPAT more than doubled, supported by powercloud integration and tax asset recognition.

• Communications and media vertical grew 15% year-over-year, driven by major contract wins.

• Continued disciplined R&D investment, with $34.5 million spent, focusing on AI, cloud, and automation.

Financial highlights

• Operating revenue: $392.5 million, up 11.2% year-over-year; three-year CAGR of ~6%.

• Underlying EBITDA: $111.7 million, up 20.9%; Cash EBITDA: $93.4 million, margin 23.8%.

• Underlying NPAT-A/NPATA up 43% to $56.9 million; NPAT up 105.7% year-over-year.

• Communications & Media revenue up 15% to $171.3 million; Energy & Utilities up 8.3% to $221.2 million.

• EMEA region now represents 68% of business, with 22% year-over-year growth and strong licence revenue growth of 21.8%.

Outlook and guidance

• Targeting organic revenue growth of 5%-7% CAGR over the medium term, with Underlying EBITDA margin of 30% or above.

• FY26 revenue growth will be impacted by lower license revenue, but recurring revenue and margins are expected to rise.

• No major one-off restructuring costs anticipated in FY26; cost efficiencies expected from AI adoption.

• Sector tailwinds include decarbonisation mandates, smart-grid rollouts, digital transformation, and 5G expansion.

• Pipeline remains robust across all verticals and geographies, with increased investment in sales and marketing.