SoftwareOne Holding Reports Profit Swing and Reaffirms 2023 Targets

By Andrea Figueras

SoftwareOne Holding, the Swiss software and cloud-services provider, has reported a significant swing to profit in the first half of the year. This positive outcome can be attributed to higher revenue and lower costs. Furthermore, the company has expressed confidence in its ability to achieve its 2023 targets.

In the first half, SoftwareOne recorded a profit of 33.8 million Swiss francs ($38.5 million), an impressive turnaround from the loss of CHF63.3 million in the same period last year.

During the second quarter, adjusted earnings before interest taxes depreciation and amortization slightly decreased to CHF72.1 million from CHF75.8 million in the previous year. Additionally, there was a marginal 0.6% decline in quarterly revenue, which stood at CHF267.4 million.

However, it is important to note that most markets experienced revenue growth. The Europe, Middle East, and Africa region contributed the most to overall sales, while Asia-Pacific demonstrated the strongest growth at 23.5%. The only region that faced a decline in revenue was Latin America with a 9.2% decrease.

Looking ahead, SoftwareOne remains optimistic and has kept its guidance intact. The company anticipates double-digit revenue growth, assuming constant currency exchange rates, and aims for an adjusted Ebitda margin between 24% and 25% for the entire year. This outlook is contingent upon the absence of any significant negative impact from the macroeconomic environment.