Netum Group (NETUM) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was EUR 11.2 million, down 2.2% year-over-year, mainly due to a high project volume in early 2024.

• Profitability remained solid despite market challenges, with comparable EBITA at EUR 1.1 million (9.8% of revenue).

• The IT market's low mood persisted, especially in the private sector, but public sector IT projects showed growth potential for H2 2025.

• Strategic focus on AI projects and sustainability initiatives, including a national Facility Security Clearance certificate.

Financial highlights

• Revenue decreased 2.2% to EUR 11.2 million compared to Q1 2024.

• EBITDA fell 24% to EUR 1.1 million (9.9% margin); EBITA dropped 23.4% to EUR 1.1 million (9.8% margin).

• Operating profit was EUR 0.3 million (2.4% margin), down 56.4% year-over-year.

• Net result for the period was EUR -0.1 million (-0.6% of revenue), compared to EUR 0.1 million last year.

• Number of employees at period end was 387, a 1.5% decrease year-over-year.

Outlook and guidance

• 2025 revenue expected between EUR 41–46 million; comparable EBITA guidance at 7–10% of revenue.

• Public sector IT demand anticipated to improve in H2 2025, but price competition remains intense.

• Private sector demand remains uncertain due to geopolitical and economic factors.