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SeSa (SES) investor relations material
SeSa Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary18 Dec, 2025
Executive summary
Launched the 2026-2027 Industrial Plan, emphasizing organic growth, digital transformation, and skills development, with a strategic shift from M&A-driven to organic growth.
Achieved consolidated revenues and other income of €1,600.4 million in 1H 2026, up 11.6% year-over-year reported and 5.5% pro-forma, with EBITDA of €114.4 million (+11.4% Y/Y reported, +6.0% Y/Y pro-forma).
Group EAT Adjusted reached €45.4 million (+13.2% Y/Y reported, +7.6% Y/Y pro-forma), and reported net profit was €34.4 million (+19.4% Y/Y reported, +5.6% Y/Y pro-forma).
Growth was mainly driven by Green VAS (+25.6% Y/Y), Business Services (+6.8% Y/Y), and ICT VAS (+2.1% Y/Y), while SSI showed resilience despite weaker demand in some sectors.
Transformation plan advanced, focusing on digital integration, skills development, and sustainable growth, with strong acceleration in 2Q 2026.
Financial highlights
2Q 2026 revenues and other income were €754.6 million (+16.0% Y/Y reported, +9.4% Y/Y pro-forma), with EBITDA of €53.7 million (+16.6% Y/Y reported, +8.4% Y/Y pro-forma).
Net financial expenses improved by 11.6% Y/Y in 1H 2026 and by 15.5% Y/Y in 2Q 2026, reflecting lower interest rates and cost optimization.
Net financial position (NFP) as of 31 October 2025 was €119.0 million net debt, improving from €122.1 million at 31 October 2024 pro-forma, after €140 million LTM investments and €35 million LTM dividends and buy-back.
Shareholders' equity increased to €501.9 million as of 31 October 2025.
Consolidated reporting net profit reached €34 million, up 19.4% year on year.
Outlook and guidance
Guidance for FY ending 30 April 2026 confirmed: revenue growth of +5% to +7.5%, EBITDA growth of +5% to +10%, and Group EAT Adjusted growth of ~10% vs FY 2025 pro-forma.
Positive order backlog and strong sector trends expected to support performance in the coming quarters, with backlog up 25% in November.
Overperformance in ICT distribution and Digital Green; Business Services in line; SSI expected to recover in H2.
CapEx guidance of €80 million for the year, including €35 million M&A and €50-55 million CapEx.
Annual M&A investments to decline to €30 million, CapEx at ~€50 million per year, and payout ratio increased to 40% (dividend of €1/share and €25 million buyback program).
Digital Green VAS growth drivers and outlook
Drivers of Net Financial Expenses improvement?
Sesa's strategic digital transformation focus
New plan's capital allocation strategy
Outlook for SSI sector recovery
Impact of increased buyback and share cancellation
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Q3 202612 Mar, 2026
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Frequently asked questions
SeSa S.p.A. provides information technology solutions, including software, hardware, cloud services, and system integration. The company serves enterprise customers, with a focus on digital transformation and managed services. It partners with leading technology vendors and supports clients across various sectors. The company is headquartered in Empoli, Italy, and its shares are listed on the BIT.
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