Hightech Payment Systems (HPS) H2 2025 earnings summary

Executive summary

• 2025 marked a strategic inflection point with SaaS acceleration, record backlog, and improved financial profile, surpassing all guidance metrics.

• SaaS revenue became the largest stream, with platforms in Canada and Australia driving growth and margin expansion; recurring/regular revenues reached 72.3% of total.

• Backlog reached MAD 1,672M (+89% YoY), providing strong revenue visibility into 2026.

• Operating cash flow increased 5x to MAD 239M, net debt reduced by over 42%, and the balance sheet is at its strongest.

• Full integration of CR2 enhanced offerings, profitability, and group margins.

Financial highlights

• Consolidated revenue reached MAD 1,551M (+22.3% YoY); underlying growth at 10.7% FX neutral.

• EBITDA rose 30% to MAD 286M, margin at 18.4% (up from 17.3% in 2024).

• Net profit increased by over 40% to MAD 106M; earnings per share at MAD 14.3, up 40.5%.

• Operating cash flow surged to MAD 239M (5x 2024); closing cash at MAD 256M, up 25.4%.

• Net debt reduced by over 42%; long-term debt to equity ratio at 55%.

Outlook and guidance

• 2026 organic revenue growth guided at 12–17%, driven by SaaS ramp-up and backlog deployment.

• EBITDA margin expected above 2025 levels, targeting 25–30% by 2027.

• SaaS revenue from existing customers projected to reach MAD 480M by 2027, ~30% CAGR.

• Continued focus on innovation in cloud, AI, and open banking.

• Dividend proposed at MAD 8 per share, up 14.2% year-over-year.