Half Year 2024 SoftwareOne Holding Ltd Earnings Call Transcript
Key Points
- SoftwareONE Holding AG (SWONF) delivered solid results with 7% growth in H1 2024, despite macroeconomic uncertainties.
- The company successfully launched a transformed go-to-market model in key markets, targeting the underserved SME segment.
- Adjusted EBITDA grew by over 11%, with a margin of 23%, reflecting a focus on profitable growth.
- The operational excellence program exceeded initial targets, resulting in significant cost savings and productivity improvements.
- Strong regional performance in APAC and NORAM, with growth rates of over 10% and 15% respectively, driven by large customer wins.
- The macroeconomic environment continues to affect clients' purchasing behavior, particularly in the DACH region.
- Public sector application services business in Colombia was impacted by a change in government, leading to revised revenue guidance.
- SG&A expenses increased by 13% in H1, largely offsetting productivity improvements.
- Foreign exchange fluctuations had a negative impact on revenue, reducing it by 2.4 percentage points in H1.
- Net debt position increased to CHF208.7 million as of June 30, 2024, due to outflows including M&A, dividends, and restructuring expenses.
Good morning, and thank you to everyone for joining SoftwareOne H1 2024 results. I'm Anna Engvall, Head of Investor Relations at Software One. Joining me today are Brian Duffy, our CEO; and Rodolfo Savitzky, CFO. In terms of agenda, we will kick off with a summary of our H1 2024 results presented by Brian. Rodolfo would also take us through our financial performance. We will finish the session with q-and-a as usual.
Before handing over to Brian, please let me draw your attention to the disclaimer regarding forward-looking statements and non-IFRS measures on Slide 3.
With that, I will hand over to Brian.
Good morning, everyone, and thank you for joining the call. Let me begin with some key highlights for the first half of the year. In H1, we delivered solid results with 7% growth and an improved margin against the backdrop of continued macroeconomic uncertainty. Our performance was
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