Revenue at PLN 283 million in H1 2025 – Stable EBITDA and Strong Export Position

Key information on the Ailleron Group’s results for the first half of 2025:

• Ailleron Group closed the first half of 2025 with sales revenue of PLN 283.2 million, up 14% y/y. Export sales reached PLN 216.3 million, representing over 76% of total revenue. This is the result of consistent international expansion, particularly in the Technology Services segment, which accounts for 87% of the Group’s revenue.
• Operating profit (EBIT) amounted to PLN 26.0 million, lower than in H1 2024, mainly due to the amortization of customer relations after the number8 acquisition (–PLN 4.2 million) and the cost of the ISOP stock option program in SM Romania and Moldova (–PLN 1.7 million). EBITDA remained stable at PLN 37.5 million, close to last year’s level.
• Net profit amounted to PLN 23.2 million compared to PLN 24.7 million in the same period of 2024.
• The Technology Services segment, operating under Software Mind, generated revenue of PLN 247.6 million (+15% y/y) and operating profit of PLN 28.6 million, achieving a 12% operating margin.
• The FinTech segment recorded revenue of PLN 34.4 million, with an operating result of –PLN 3.2 million. Excluding the one-off effect of a settlement with Pekao SA in 2024, the segment shows improved operational efficiency.
• The Group maintains a strong liquidity position – cash stood at PLN 57.6 million at the end of June.

Ailleron is now a global technology company with Polish roots, delivering solutions to the most demanding clients worldwide. The first-half results show we are on the right track – we are growing, investing, and developing. I believe our focus on quality, innovation, and partnerships will allow us not only to maintain momentum but also to strengthen our position in the domestic market, which – despite its maturity – still needs fresh ideas and technological stimulus.

In H1 2025, Ailleron Group generated revenue of PLN 283.2 million, up nearly 14% y/y – an increase of over PLN 33.7 million compared to H1 2024. Growth was driven by both organic development and the full consolidation of acquired companies, including Core3 and number8.

Group EBITDA reached PLN 37.5 million, holding steady year-on-year, confirming operational stability despite rising costs and one-off impacts. Operating profit (EBIT) stood at PLN 26.0 million, while net profit was PLN 23.2 million (compared to PLN 24.7 million in H1 2024). Solid operating profitability was maintained, though net profit was burdened by amortization of customer relations after the number8 acquisition (PLN 4.2 million), ISOP costs (PLN 1.7 million), and negative FX differences from intra-group loans (PLN 5.1 million). A positive impact came from the valuation of the CALL option in Software Mind CF SRL, which increased financial income by PLN 17.2 million.

Revenue growth of 14% y/y and stable EBITDA demonstrate the efficiency of our segments, especially Technology Services. The impact of amortization and the ISOP program was expected and included in our plans. We are focused on further scaling our business and maintaining cost discipline. This provides a good starting point for further efficiency improvements in the second half of the year. In the coming months, we are concentrating on strengthening the FinTech segment.

At the end of June 2025, Ailleron Group held PLN 57.6 million in cash, ensuring a comfortable liquidity position and flexibility for further investment plans. Compared to year-end 2024 (PLN 103.4 million), cash decreased mainly due to payments related to M&A transactions, including the purchase of minority stakes in subsidiaries and investments in business development. Despite this, the Group’s financing structure remains stable, and its debt level is safe and well-controlled.

In H1 2025, Ailleron Group also initiated a strategic review of options regarding its stake in subsidiary Software Mind. The process is being carried out in cooperation with Enterprise Investors – Software Mind’s capital partner – and aims to maximize shareholder value and further strengthen the Group’s position in key business segments.

The interim report for the first half of 2025 is available for download here. (Polish only)

Ailleron SA is a capital group listed on the Warsaw Stock Exchange. Its subsidiary Software Mind provides software development services to innovative companies from Western Europe and the United States (including from Silicon Valley) and – under the Amplitiv brand – to the telecommunications industry. Software Mind is developed jointly with Enterprise Investors – one of the largest private equity funds in Central and Eastern Europe. Ailleron focuses on comprehensive software development services for banks, leasing companies, FinTech and other organizations, mainly in the financial industry in Europe and Southeast Asia. It creates innovative IT solutions based on cloud technology and artificial intelligence. Ailleron’s clients include banks such as CitiBank, ING, Santander, BNP Paribas, Standard Chartered and Credit Agricole. With a global reach spanning over 40 countries, the Ailleron Group serves more than 200 clients and employs a strong team of over 1,800 specialists. International markets contribute to a remarkable 75% of the Group’s revenue, demonstrating its truly global impact.