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SoftwareOne reports 8.4% growth in Q3 2023

SoftwareOne has reported a significant 8.4% YoY growth in Q3 2023, reaching revenues of CHF233.4m. 

The company's adjusted EBITDA also rose by 14.1% to CHF47.9m, maintaining a solid 20.5% margin.

Highlighting the success of its operational excellence programme, the firm exceeded its cost-saving target, achieving CHF27m by September 2023, surpassing the annual goal of CHF15m. 

The EMEA region showed notable resilience, with a 9.6% revenue increase, driven by strong performances in the UK, Netherlands, and Spain.

The company's Microsoft business also segment saw a significant 9% increase in gross billings, reaching USD3.9bn. 

Its software and cloud services grew by 11.4% to CHF112.4m, boosted by the acquisition of ServiceNow partner Beniva.

Adapting to the changing economic landscape, SoftwareOne has revised its 2023 forecast to high single-digit revenue growth, with the adjusted EBITDA margin target remaining at 24-25%. 

Additionally, the company’s dividend payout ratio also remains at 30-50% of the adjusted profit for the year.