Wiit (WIIT) Q2 2026 earnings summary

Executive summary

• H1 2026 revenues were €81.8M, down 4.1% year-over-year, but only 1.8% lower on a comparable basis due to a €2M one-time effect in H1 2025; recurring revenues (ARR) grew 0.8% to €68.8M, now 91.8% of total revenue.

• Adjusted EBITDA reached €34.2M (41.8% margin), down 1.55% year-over-year but up 4.5% on a comparable basis; adjusted EBIT was €18.4M (22.5% margin), nearly flat year-over-year but up 11.7% on a comparable basis.

• Adjusted net profit was €7.9M, down from €10M in H1 2025, mainly due to higher financial expenses from a new bond issue.

• The Group maintained strong recurring revenues, robust liquidity, and continued M&A and digital transformation initiatives.

Financial highlights

• Italy contributed €30.3M in adjusted revenue (37.1% of group), Germany €43.3M (52.9%), and Switzerland €8.2M (10%).

• ARR as a share of revenue: Italy 91.2%, Germany 95.1%, Switzerland 80.4%.

• EBITDA margin: Italy 54.8%, Germany 36.9%, Switzerland 19.7%.

• Adjusted net financial position (debt): €-173.6M (vs. €-156.2M at Dec 31, 2025); net leverage ratio at 2.9x post-treasury share cancellation.

• Cash flow from operating activities was €20.2M, up from €19.1M in H1 2025.

Outlook and guidance

• Full-year market consensus is confirmed: €175M sales and €72M EBITDA expected.

• H2 is typically stronger than H1, with additional revenue expected from contracts signed in H1.

• Strategic focus on high value-added contracts in Italy and Germany, supporting premium positioning and margin improvement.

• Cloud services market growth, digital transformation, and cybersecurity remain key drivers; ongoing M&A and monetization of German data centers to fund growth.

• Marginal exposure to Russia, Ukraine, and Middle East; no material risk expected.