SoftwareONE Holding AG Reports Strong Q1 2024 Performance

SoftwareONE Holding AG, a provider of software and cloud solutions, reported a solid start to 2024, with group revenue increasing by 7.4% in constant currency and 3.1% in reported currency, totaling CHF 246.9 million. The company reiterated its full-year guidance, underpining their steady performance amidst a challenging economic backdrop. Adjusted EBITDA grew by 18.8% to CHF 45.4 million, with an improved margin of 18.4% due to ongoing cost control efforts.

The North American (NORAM) region demonstrated significant growth, with revenue up by 26.4% in constant currency, driven by major client acquisitions. Additionally, the company's strategic "Vision 2026" aimed at expanding margins and strategic growth, is progressing as planned, with a focus on becoming a leading Copilot partner for Microsoft, targeting a USD 100 million revenue.

SoftwareONE's approach for 2024 includes sustaining revenue growth between 8-10% and achieving an adjusted EBITDA margin between 24.5-25.5%. Their successful quarter was supported by robust performances in key markets including APAC and EMEA, and strong momentum in cloud and software services. Despite a stabilized market, the outlook for 2024 remains positive based on their year-to-date performance.