SNP Schneider-Neureither & Partner (SHF) Q4 2025 earnings summary

Executive summary

• Revenue increased by 16% year-over-year to €296.8m, with order entry up 11% to €345.2m and a book-to-bill ratio above one, indicating backlog growth.

• EBIT surged 66% to €47.4m, with an EBIT margin of 16%, driven by increased software sales and operational efficiency.

• Software revenue reached approximately €186.0m, now representing more than half of total business and doubling over three years.

• All regions reported growth, with EMEA/NEMEA showing a particularly strong 36% year-over-year increase.

• Maintained strong liquidity with operating cash flow at €30.2m and cash position of €46.2m.

Financial highlights

• Revenue growth outpaced cost increases, supporting strong EBIT development.

• Negative FX effects, mainly from dollar movements, impacted results by €5.5m–€8.7m.

• Operating gains declined due to the absence of prior-year settlement gains.

• Cash flow was affected by a significant one-off payment in 2024 and increased receivables, but is expected to normalize.

• Net income rose 56% to €31.5m; EPS (undiluted) improved by €1.59 to €4.37.

Outlook and guidance

• For 2026, expects book-to-bill ratio above one, mid- to high single-digit revenue growth, and low double-digit EBIT growth.

• Service segment growth is expected to be low single-digit as focus shifts to scaling through partners and software.