adesso increases sales by 13% to EUR 1.1 billion after nine months and EBITDA by a disproportionate 17% to EUR 77.9 million / Consolidated net income significantly improved to EUR 6.2 million (previous year: EUR 2.5 million) / Forecast for the full year reaffirmed

• Growth and increased profitability despite difficult overall economic situation
• EBITDA of EUR 77.9 million within the expected range, of which EUR 40.8 million in the third quarter of 2025
• Earnings per share significantly improved at EUR 0.99 (previous year: EUR 0.16)
• One additional working day in the fourth quarter of 2025 compared to the previous year

With today's presentation of its Quarterly Statement Q3 2025, adesso underscores its full-year targets, forecasting further growth in sales and operating profit (EBITDA) despite the challenging economic environment. Sales increased by 13% to EUR 1,084.1 million, exclusively through organic growth. Demand for adesso's digitalisation services remained at a good level, although the expected catch-up effects from the public sector are still pending. The number of full-time equivalent employees (FTE) increased by 9% to 11,111 as of the reporting date, which is still disproportionately low compared to the increase in sales. 44% of the growth in personnel is attributable to the expansion of the workforce abroad, particularly at the SmartShore locations. In line with demand, the material expense ratio remains high, mainly due to the addition of external employees and partners in projects. While the higher average utilisation of the company's own employees in the first half of 2025 had a positive effect compared to the weaker previous year, the level of the stronger prior-year quarter was reached in the third quarter of 2025. Following a significantly improved first half of 2025, with 13% sales growth the third quarter of 2025 also delivered an increased contribution to earnings to EUR 40.8 million (previous year: EUR 38.9 million). Cumulative EBITDA reached EUR 77.9 million after nine months (previous year: EUR 66.5 million). The EBITDA margin thus improved slightly to 7.2% after the first nine months (previous year: 6.9%). In view of the sales and earnings growth achieved, the Management Board confirms its full-year forecast ranges. Sales is likely to be at the upper end of the range of EUR 1.35 to 1.45 billion. With an additional working day in the final quarter, the Management Board expects EBITDA to be within the range of EUR 105 to 125 million.

Thanks in part to its advantageous industry diversification, adesso is able to continue its rapid growth trajectory even in a demanding market environment and challenging economic climate. Its consulting and software development services are meeting with solid demand as companies continue their digitalisation efforts. Sales increased year-on-year in all core industries with the exception of automotive (-7%). Sales grew particularly strongly in the healthcare (+26%), utilities (+24%) and insurance (+20%) industries. In the public sector, the largest core industry in terms of sales, the catch-up effects have not yet materialised as expected. After the first nine months of 2025, adesso recorded growth of +7% to EUR 164.0 million in the industry. Looking ahead, and especially in 2026, growth in the industry is expected to accelerate again as a result of the German government's investment package.

At 14%, the sales growth achieved is mainly attributable to the German market. Sales abroad increased by 8%. Even though sales with customers in Switzerland picked up again in the third quarter, the decline of 5% or EUR 4.6 million in absolute terms after nine months is weighing on the otherwise dynamic development of foreign markets. Business expanded particularly strongly in Turkey (30%), Austria (29%) and Italy (26%). In absolute terms, EUR 177.5 million was generated outside Germany. The expansion of the locations in India was successfully continued.

In the first nine months of 2025, the number of full-time equivalents rose by only 7% on average for the period. As a result, personnel expenses also increased at a rate that was disproportionately low compared to sales, rising by 11% to EUR 736.1 million (previous year: EUR 664.7 million). This corresponds to a moderate 3% increase in personnel costs per FTE, with annualised gross profit per FTE also rising by 3% compared with the same period of the previous year, from EUR 111 thousand to EUR 114 thousand. This fundamentally positive development is offset by a 28% increase in material costs to EUR 170.9 million (previous year: EUR 133.8 million) after nine months, which is significantly disproportionate to sales, primarily due to the use of external project staff and partners. Other operating expenses grew by only 3% to EUR 114.9 million (previous year: EUR 111.3 million), thereby increasing margins.

Income tax expense increased to EUR 6.7 million (previous year: EUR 4.9 million). The calculated tax rate based on pre-tax earnings is 52% (previous year: 67%). The high calculated tax rate is influenced by non-capitalised deferred taxes and constant, non-deductible expenses. After deduction of tax expenses, consolidated earnings for the first nine months of 2025 improved significantly to EUR 6.2 million (previous year: EUR 2.5 million). Earnings per share amounted to EUR 0.99 (previous year: EUR 0.16).

Net debt increased from EUR -101.5 million in the previous year to EUR -135.5 million as of the reporting date. This is primarily due to the expenditure for the share buyback programme from the fourth quarter of 2024 onwards, the full acquisition of minority interests in two subsidiaries, and earn-out payments in the first half of 2025, which together amounted to around EUR 40 million.

Working capital increased slightly disproportionately to sales by 15% to EUR 249.5 million compared to previous year.

In view of the renewed high earnings contribution in the third quarter of 2025 and an overall stabilisation in capacity utilisation following a significantly improved first half of the year, the Executive Board believes the company is on track to comfortably meet its forecasts for the year as a whole.

The full quarterly statement, as well as a table comparing key performance indicators over a period of several years, is available at www.adesso-group.de/en/ in the Investor Relations section.

adesso Group

With more than 11,100 employees and expected annual sales of more than EUR 1.35 billion in 2025, adesso Group is one of the largest German IT service providers with outstanding growth opportunities. At its own locations in Germany, other locations in Europe and the first locations in Asia, as well as at numerous local customers adesso offers consulting and software development services for optimising core business processes. adesso also offers ready-to-use software products for standard applications. The development of an own, industry-specific product portfolio opens up additional growth and earnings opportunities and is another key element of the adesso strategy. adesso was recognised as a Top Employer in 2025 and as the best employer in its size category in Germany across all industries in 2023 and 2020. After having already achieved first place among IT employers in 2016, 2018 and 2020, adesso was ranked first again in 2023.