Dominion Hosting Holding (DHH) Q4 2025 earnings summary

Executive summary

• Revenue grew 13% year-over-year to €41.8 million, with 91% recurring revenue and strong expansion in AI infrastructure-related revenues.

• EBITDA increased by 15% to €13.8 million, with margin improving to 34%.

• Net profit rose 25% to €4.6 million; net cash position of €1.3 million and €21.9 million in cash availabilities.

• Recurring revenues exceeded 90%, supported by a diversified B2B customer base and negative net churn.

• Accelerated bookbuilding in December raised funds for M&A and organic growth, issuing 324,000 new shares at €23 each, an 11% premium.

Financial highlights

• Operating cash flow reached €11.2 million, with cash conversion at 81%.

• Tangible investments were €1.18 million (mainly fiber and hardware); intangible investments €0.68 million.

• €3 million invested in right-of-use assets, mainly for data center renewals.

• €7.72 million invested in financial investments, primarily for Teknonet and Evolink acquisitions.

• Net debt/EBITDA remained negative, reflecting a strong balance sheet and net cash position.

Outlook and guidance

• Positive momentum continues into early 2026, with double-digit growth trends persisting.

• Focus remains on disciplined execution, organic growth, and selective M&A, especially in the Italian MSP market.

• Guidance not provided, but organic growth expected to add €2-3 million in revenue and €1 million in EBITDA.

• Well-diversified revenue base and strong financial position provide resilience and visibility.