Verisure Group (VSURE) Q1 2025 earnings summary

Executive summary

• Revenue grew 11% year-over-year in Q1 2025, reaching €920m, with strong cost management driving 13% growth in Adjusted EBIT.

• Customer portfolio expanded by 8.3% to over 5.7 million, with 217,114 new installations in the quarter.

• Attrition rate improved by 20bps year-over-year to 7.5%, with LTM attrition at 7.4%, reflecting enhanced customer retention.

• S&P upgraded credit outlook from "stable" to "positive" in April 2025.

• Continued investment in product and service innovation to support premium positioning.

Financial highlights

• Adjusted EBITDA rose 12% year-over-year to €419m; margin increased to 45.5%.

• Adjusted EBIT reached €230.5m, up 13% year-over-year; margin improved to 25.1%.

• Annualized Recurring Revenue (ARR) grew 11% to €3,225m.

• Cash flow from operating activities declined 11% to €334m; capex increased 9% to €239m.

• Net debt rose 3% to €7,680m; available liquidity at quarter-end was €414m.

Outlook and guidance

• Continued focus on portfolio growth, cost discipline, and deleveraging trajectory.

• Management highlights resilience and high-quality growth model, with sustained low attrition and improving unit economics.

• Optimism for future growth, citing significant room for increased penetration in existing markets.