SoftwareONE (SWON) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 revenue reached CHF 387.7 million, up 12.9% like-for-like and 67.4% reported year-over-year, with growth across all regions and business lines.

• Adjusted EBITDA rose 32.8% to CHF 79.4 million, with margin up 3.4 percentage points to 20.5%; reported EBITDA increased to CHF 71 million.

• Integration of Crayon progressing ahead of plan, with over CHF 80 million in run rate cost synergies achieved and on track for CHF 100 million by year-end.

• Strategy execution and synergy realization are driving profitability and sustained growth momentum, supported by strong demand for cloud, data, AI, and cybersecurity services.

• Broad-based momentum across all business lines and regions, with NORAM returning to growth and APAC, Nordics, and CEE showing double-digit increases.

Financial highlights

• Q1 2026 revenue reached CHF 387.7m, up 67.4% year-over-year; gross sales were CHF 3,659.1m, up 35%.

• Reported EBITDA rose to CHF 71.0m from CHF 26.7m, with margin improving to 18.3% from 11.5%.

• Adjusted EBITDA was CHF 79.4m, up 73.9% year-over-year, with margin at 20.5%.

• Cost reductions of CHF 14 million from synergy program offset by inflation and variable compensation; FX tailwind of CHF 17 million, but overall FX had a negative impact of 9.2pp on group revenue.

• Total Adjusted OpEx at CHF 308 million, broadly flat year-over-year despite inflation.

Outlook and guidance

• 2026 revenue growth outlook raised to mid-to-high single-digit percentage at constant currency; margin guidance above 23% maintained.

• Dividend payout ratio targeted at 30-50% of adjusted profit for the year.

• CHF 100 million run-rate cost synergies targeted by end of 2026.

• Integration expenses for 2026 expected at CHF 7.4 million per quarter; no integration expenses anticipated in 2027.

• Corporate tax rate for modeling set at 30%.