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Wiit Investor Presentation 2026
4197_rns_2026-05-13_4a7daea6-2534-49ac-be05-0ce48de28d40.pdf
Investor Presentation
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WIIT 30®
1996 • 2026
A European Serial Acquirer in Cloud.
Capital Allocation at its Best.
Investor Presentation: Q1 2026 Results
13 May 2026
Financials: Q1 2026 Results
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Investor Presentation
Q1 2026 Results
Financial Highlights Q1 2026
41.4 M€
Revenue Adjusted +0.7% vs Q1 2025(41.1 M€)
34.4 M€
ARR*+0.9% vs Q1 2025 (34.1 M€)
90.9% of Tot. Revenue
High revenue visibility and predictability
17.2 M€
Adj EBITDA +9.0% vs Q1 2025 (15.8 M€)
Margin 41.6%
38.4% in Q1 2025
+320bps
9.4 M€
Adj EBIT +21.1% vs Q1 2025 (7.8 M€)
Margin 22.7%
18.9% in Q1 2025
+380 bps
4.1 M€
Adj Net Profit (4.3 M€) in Q1 2025
Financial Income and Expenses at -€ 3.4 million, up by €1.2 million compared with the previous year. This amount is mainly attributable to interest on bond loans. Financial income amounted to €1.2 million
137.5 M€
Adj Net Debt** 156.2 M€ at 31 December 2025
**Excluding the IFRS 16 effect of €15.5 million (€12.4 million in FY2025) and including the valuation of Treasury shares held in portfolio of approx. €99.8 million based on the market value as at 31 March 2026 (market value as at 31 December 2025 €56.1 million).
*ARR: revenues reported related to Q1 2026 from recurring services of companies operating in the Cloud and Cyber Security market in Italy (WIIT S.p.A.), Germany (WIIT AG, M&P, exc. Gecko) and Switzerland (Econis AG).
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Investor Presentation
Q1 2026 Results
Key Figures by Country
| Adj. Revenues | Italy
15.4 M€
37.2% of Group Revenues | Germany
21.8 M€
52.6% of Group Revenues | Swiss
4.2 M€
10.2% of Group Revenues | Group
41.4 M€ |
| --- | --- | --- | --- | --- |
| ARR* | 14.4 M€
89.9% of the total Revenues | 16.6 M€
94.3% of the total Revenues ex Gecko | 3.4 M€
80.9% of the total Revenues | 34.4 M€
90.9% of the total Revenues |
| Adj. EBITDA | 8.4 M€
54.2% EBITDA Margin
Vs 48.9% in Q1 2025 | 8.1 M€
37.1% EBITDA Margin
Vs 36.6% in Q1 2025 | 0.7 M€
18.2% EBITDA Margin
Vs 14% in Q1 2025 | 17.2 M€
41.6% EBITDA Margin
Vs 38.4% in Q1 2025 |
| Adj. EBIT | 4.2M€
27.0% EBIT Margin
Vs 18.8% in Q1 2025 | 4.9 M€
22.8% EBIT Margin
Vs 22.8% in Q1 2025 | 0.3 M€
7.0% EBIT Margin
Vs 0.4% in Q1 2025 | 9.4 M€
22.7% EBIT Margin
Vs 18.9% in Q1 2025 |
*ARR: revenues reported related to Q1 2026 from recurring services of companies operating in the Cloud and Cyber Security market in Italy (WIIT S.p.A.), Germany (WIIT AG, M&P, exc. Gecko) and Switzerland (Econis AG).
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Investor Presentation
Q1 2026 Results
Q1 2026 ARR*
m€
Group organic Recurring Revenues (ARR)*: +0.9% vs Q1 2025, of which:
- Italy: 14.4 M€: +7.7% organic
- Germany 16.6 M€: -4.1%
- Switzerland 3.4 M€ broadly in line with Q1 2025
The churn effect is mainly attributable to the strategic decision in Italy and in Germany to focus the portfolio on high value-added contracts with higher margins, in line with the premium positioning of the offering.
*ARR: revenues reported related to Q1 2026 from recurring services of companies operating in the Cloud and Cyber Security market in Italy (WIIT S.p.A.), Germany (WIIT AG, exc. Gecko) and Switzerland (Econis AG).
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Investor Presentation
Q1 2026Results
Q1 2026 Adj EBITDA*: strong profitability
Focus on Cloud services, the level of optimization achieved in the organization of processes and operational services, cost synergies, and the continued improvement in margins of the acquired companies
> Adj EBITDA Margin - Germany
Germany 37.1% (36.6% in Q1 2025). The margin exc. Gecko is 39.1% (38.8% in Q1 2025).
> Adj EBITDA Margin - Italy
Italy 54.2% (48.9% in Q1 2025), registering a significant progress VS Q1 2025, due to the continuous focus on higher value-added services.
- The Adjustment at activities for extraordinary M&A transactions for €70K, costs related to financial instrument-based incentive plans for €0.2 million, personnel reorganization costs of approximately €69K, and other non-recurring costs of €0.2 millionEBITDA level as at 31 March 2026 refers to the effects arising from scouting.
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Investor Presentation
Q1 2026 Results
Q1 2026 Adj EBIT*: significant margin improvement
Significant progress compared to the previous year, confirming the Group's ability to generate profitability and leverage the efficiency measures implemented.
Depreciation, amortisation and write-downs amounted to approximately 7.8M€, decreasing by 0.2M€ compared to the previous year.
-
Adj EBIT Margin – Germany
22.8% (22.8% in Q1 2025) -
Adj EBIT Margin – Italy
27.0% (18.8% in Q1 2025) -
The Adjustment applied at EBIT level as at 31 March 2026 refers to the above-mentioned adjustments at EBITDA level and to amortization relating to the PPA ("Purchase Price Allocation") arising from the acquisitions, amounting to €1.2 million
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Investor Presentation
Q1 2026 Results
Q1 2026 CAPEX: Well invested asset base
- Maintenance Capex
- Growth Capex
- Right of Use
> Utilization rate of premium cloud data center: 51% in Italy and 53% in Germany. Opportunity to double revenues without extra investments in CAPEX
> Growth Capex 20% of the total value of new contracts
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Investor Presentation
Q1 2026 Results
Q1 2026 Net Financial Position bridge
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Investor Presentation
Q1 2026 Results
FY2020/Q1 2026 Net Financial Position and leverage trend
Adj NFP - Restated Bond 2030* NFP Reported
243.9 M€ Net Debt as of March 31st 2026
137.5 M€ Adj. Net Debt Restated Bond 2030 as of March 31st 2026
Adj Leverage - Restated Bond 2030* Leverage (NFP/EBITDA)
3.6 x Leverage as of March 31st 2026
2.3 x Adj. Leverage Restated Bond 2030 as of March 31st 2026
- Net Debt excluding IFRS16 of 13.8 M€ and including the treasury shares value as 31 March 2026 of 90.8 M€. Adj. Ebitda excluding IFRS16
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Investor Presentation
Q1 2026 Results
(*) Alessandro Cozzi and his own companies
Shareholders' Structure
As at May 08, 2026
No. Shares 28.020.660
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