SNP Schneider-Neureither & Partner (SHF) Q2 2025 earnings summary

Executive summary

• Revenue grew 20% year-over-year to €138.9 million in H1 2025, with record Q2 revenue and strong contributions from all business segments and regions except JAPAC.

• Order entry increased 15% to €155.2 million in H1 2025, driven by large projects, robust SAP S/4HANA and RISE with SAP business, and a 27% CAGR over three years.

• EBIT improved 19% year-over-year in Q2 and reached €14.8 million in H1 2025, despite negative one-off effects and FX losses.

• Confirmed 2025 guidance, with strong operational progress, stable backlog, and new Supervisory Board following Carlyle transaction.

• Acquired remaining EXA AG shares, now owning 100%, and completed integration; Trigon Group fully consolidated since May 2024.

Financial highlights

• Q2 2025 revenue up 17% year-over-year to €72.3 million, marking the highest quarterly revenue.

• H1 2025 EBITDA rose 13% to €20.0 million, with a margin of 14.4%; net income increased 9% to €8.6 million.

• EBIT margin stable at 10.7%; gross profit margin improved to 91.7% in H1 2025.

• Operating cash flow was negative in Q2 due to bonus payments, but improved to €5.4 million for H1.

• Book-to-bill ratio above 1, indicating backlog stability.

Outlook and guidance

• 2025 guidance confirmed: revenue €270–280 million, EBIT €30–34 million, book-to-bill ratio >1.

• Anticipates improved performance in APAC in H2, supported by new office in Singapore and partner momentum.

• Pipeline and market conditions support confidence in meeting full-year targets.