Sword Group Se · EURONEXT:SWP
Sword — H1 2025 Earnings Presentation
52 slides from Sword's earnings presentation, September 2025
Slide 1: H1 2025 Presentation
SWORD GROUP H1 2025 Presentation September 2025 Sword Group - September 25 1
Slide 2: Agenda
At a Glance Organisation Offer Presentations by Division Strategic Plan Figures Sword Group’s Share Financial Key Dates Sword Group 2
Slide 3: At a Glance
At a Glance Sword Group | 3
Slide 4: At a Glance: A global Leader in Technology Transformation
At a Glance A global Leader in Technology Transformation International 1000+ customers 3 offshore | Successful, Growing, Financially Secure Group in over 50 nearshore founded in and Listed 2000 countries support centres Sword Group has been making world-leading organisations more efficient and more
Slide 5: H1 2025 Dependable, digital IT transformation solutions
H1 2025 Dependable, digital IT transformation solutions that reduce costs and increase productivity H1 2025 Consolidated Revenue | €175.8m 3,500+ people | 36 nationalities EBITDA Margin | 12.0% Organic Growth | +12.0% Consolidated Revenue by Region Consolidated Revenue by Market Others (Bank, Financ
Slide 6: Track record
Track record YEAR 2018 2019 2020 2021 2022 (i) 2023 (iii) 2024 H1 2025 Revenue €M 194.3 213.2 212.5 214.6 265.7 281.6 323.0 175.8 % Current EBITDA 14.0% 13.4% 13.9% 13.6% 12.5% 12.3% 12.0% 12.0% % Organic Growth (ii) +18.3% +20.7% +9.2% +21.5% +26.3% +19.0% +15.9% +12.0% Staff at 01/01/xxxx 2,030 2,
Slide 7: Organisation
Organisation Sword Group ] 7
Slide 8: Organisation | Management Team | Operations
Organisation | Management Team | OPERATIONS Jacques MOTTARD CEO EXECUTIVE CHAIRMAN Kevin MORETON Dieter ROGIERS Olivier PERROTEY Nasser HAMMOUD BENELUX | GREECE UK | US SWITZERLAND MIDDLE EAST & INDIA SPAIN | EU PUBLIC INDIA OTHERS PUBLIC SECTOR ENERGY LUXEMBOURG SPAIN LUXURY SECTOR | UN BUSINESS UN
Slide 9: Organisation | Management Team | Central Functions
Organisation | Management Team | CENTRAL FUNCTIONS Kevin MORETON CEO Greg ANDERSON Andrew THOM David HOWE CAIO CISO CSO Glossary: CAIO Chief Artificial Intelligence Officer Stéphanie DESMARIS CISO Chief Information Security Officer CSO Chief Sustainability Officer Head of Communication Sword Group 9
Slide 10: Organisation | Management Team | Finance
Organisation | Management Team | FINANCE Philippe BLANCHE Group CFO Philippe BLANCHE CFO Lalitha BALAKRISHNAN Laurence BLANC Olga SLAMENKAITE Patrick ZBINDEN aa. BeNeLux | Greece | India Consolidation UK | US Switzerland | Middle-East Spain Sword Group 10
Slide 11: Offer
Offer Sword Group | TT
Slide 12: Group's Offer | Software Components & IT Services
Group’s Offer | Software Components & IT Services SERVICES SOFTWARE COMPONENTS Creating Value through technology & improvement Adding Value through innovative software components solutions Application Data & Content AI & Development Analytics Services Automation Infrastructure & Enterprise Cyber Man
Slide 13: Certifications in the Group
Certifications in the Group Information & Environmental Project & Quality Security Technology H&S Management Management Systems ISO 9001: 2015 ISO 27001: 2022 ISO 20000-1: 2018 ISO 45001: 2018 ISO 14001: 2015 Sword Group 13
Slide 14: Presentation by Division
Presentation by Division Sword Group 14
Slide 15: Sword Group | AI Services
Sword Group | AI Services ARTIFICIAL INTELLIGENCE | CYBERSECURITY Typical AI Adoption Timeline Manage Project & Service Management Analyse Explore Business analysis & Service Design Understand the opportunities and key trends around AI, and customer needs. Enable Embed Evolve Develop an AI strate
Slide 16: Sword Group | Cyber Security Services
Sword Group | Cyber Security Services ARTIFICIAL INTELLIGENCE | CYBERSECURITY Your Core Reducing Safeguarding Limiting Ensuring Protecting Priorities Risk Reputation Liability ! Compliance Profitability Our Solution and Approach Enable Embed Evolve Design and implement your cybersecurity roadmap Eff
Slide 17: AI & Cyber | Vision 2028
AI & Cyber | Vision 2028 ARTIFICIAL INTELLIGENCE | CYBERSECURITY Key Objectives AI & Cyber services will contribute 20% of our overall revenue by the end of 2028 AI will help us avoid 10% of the additional cost to support our growth ambitions by 2028 Investments We are investing €1.2m in FY25
Slide 18: Vision 2028 | Progress 2025 | Benelux, Greece, Spain, EU
Vision 2028 | PROGRESS 2025 | SPAIN | EU | GREECE| CANADA GEOGRAHICAL LONG TERM KEY FOOTPRINT POSITIONING SECTORS SWITZERLAND BORDER CONTROL & BORDER CONTROL & SECURITY SECURITY Critical Europeansystems of the EU for Institutions TOP 3 Partner of EUI Critical systems of the EU for border control and
Slide 19: Services and Offerings
Services and Offerings Functional Domain Technical & Business Knowledge Expertise BENELUX | GREECE | SPAIN | EU Large-scale IT Systems EUI IT Market Trends • Software Development & • Cybersecurity & Digital Infrastructure Maintenance • New wins : EIB & Freia • Cloud services • AI, Data&Analytics, Cl
Slide 20: Business Development in 2025
Business Development in 2025 BENELUX | GREECE | SPAIN | EU BORDER CONTROL & PATENTS & IP CUSTOMS & TAXATION PROFESSIONAL SERVICES BUSINESS SECURITY AREA Development & Operational Expand our presence to more Development, IT Service Professional services related to Support of critical EU EU Agencies r
Slide 21: Important Growth Projects and Active Initiatives | 2025
Important Growth Projects and Active Initiatives | 2025 Eu-LISA – Large Scale IT Systems for EU security and border control From a value of €25m over 4 years Upcoming priority BENELUX | GREECE | SPAIN | EU To the new upcoming contract >€45m over 4 years initiatives DIGIT, Staff augmentation service
Slide 22: Vision 2028 | Progress 2025 | Switzerland, Canada
Vision 2028 | PROGRESS 2025 To deliver Vision 2028, we deploy a SECTOR MODEL offering GLOBAL OUTSOURING with an extended INTERNATIONAL NETWORK. SWITZERLAND | CANADA KEY GLOBAL GEOGRAHICAL SECTORS OUTSOURCING FOOTPRINT New significant wins Linking Swiss activities to the rest in strategic industries.
Slide 23: Services and Offerings
Services and Offerings Domain Technical & Business Expertise Knowledge Focus on AI Platform management SWITZERLAND | CANADA Public • Deployment of AI Multi-Agents • Application modernization & UN • Guidance for establishing • Cloud migration sovereign AI systems • IAM & Cybersecurity • Microsoft-rel
Slide 24: Business Development in 2025
Business Development in 2025 SECTOR SWITZERLAND | CANADA PUBLIC SECTOR & UNITED NATIONS New territories (cantons) and international FINANCIAL SERVICES SPORT & EVENTS agencies (UN) M&A process management | Cybersecurity Major sport actors • Application Modernization and Sovereign AI are major trends
Slide 25: Key Projects
Key Projects SWITZERLAND | CANADA Etat de Vaud, Project Governance – Delivery - Operations, Estimated deal value CHF 45m | 5 years Richemont, Master Service Agreement for IT & Digital, Estimated deal value CHF 30m | 5 years Eagle Football Group, Global Outsourcing plan, Estimated deal value CHF 20m
Slide 26: 2025 Swiss Highlights
2025 Swiss Highlights SWITZERLAND | CANADA Sword Day invitation for 7th Oct. 25 in Geneva Publications dedicated to the Public sectors, new wins at Confederation, States (Canton) and Cities Launch of a CAD service center for watchmakers and luxury powered by Sword Tell New signatures and events for
Slide 27: Vision 2028 | Progress 2025 | UK, US, Ireland
Vision 2028 | PROGRESS 2025 To deliver Vision 2028, we have created a SECTOR MODEL supported by a DIGITAL PLATFORM business, with a developed INTERNATIONAL FOOTPRINT. UK | US | IRELAND ENERGY PUBLIC SERVICES FINANCIAL SERVICES Maintaining position in Oil and Focus on local government and Working wit
Slide 28: Services and Offerings
Services and Offerings Domain Technical & Business Expertise Knowledge Data & AI Mergers & Acquisitions Data engineering and information IT optimisation and change management management Workflow process automation and AI Asset transition integration and adoption divestment UK | US | IRELAND
Slide 29: Business Development in 2025
Business Development in 2025 SECTOR ENERGY PUBLIC SECTOR FINANCIAL SERVICES UK | US | IRELAND Maintaining position in Oil and Gas and Focus on transformation using AI and Cyber security and regulation driving develop growing renewables market Digital transformation • Cyber Security demand significan
Slide 30: Key Projects
Key Projects Large utilities company, Network separation (Cyber Sec) of transmissions business Estimated deal value £60m | 5 years UK | US | IRELAND Adura, Cyber Security & IT/IM project scopes, Estimated deal value £20m over 3 years Viaro Energy, Full IT implementation on acquired assets, Estimated
Slide 31: Vision 2028 | Progress 2025 | India, Middle-East, Canada
Vision 2028 | PROGRESS 2025 To realise Vision 2028, we are expanding our Offshore Services into new international markets while reinforcing our presence in the Middle East. Additionally, we will establish specialised practices in high-value technologies and sectors, essential for driving innovation
Slide 32: Services and Offerings
Services and Offerings Domain Technical & Business Expertise INDIA | MIDDLE-EAST | CANADA Knowledge End-to-End Application Services DXP & CMS (Digital eXperience Platorm) • 24/7 Global Managed Services • LifeRay ( AMS/TMA) Shipping • Drupal • Custom Development • Wordpress • T&M Outsourcing Finance
Slide 33: Business Development in 2025
Business Development in 2025 INDIA | MIDDLE-EAST | CANADA SECTOR SHIPPING & TRANSPORT Strengthen our market share in the INTERNATIONAL FOOTPRINT PUBLIC SECTOR & UN shipping & Transport sector Sword Saudi & GCC Focus on Digital transformation New line of projects focused on integrating We will pl
Slide 34: Key Projects
Key Projects INDIA | MIDDLE-EAST | CANADA Dubai Municipality: Secured IBM Maximo Asset Management project | AED6m CMA CGM: revamping the Fleet Management and Vessel Reporting systems | €5m over 2Y GoEasy Canada: 24/7 AMS + Developing the Easyhome platform | $4m over 2 Y Sword Group 34
Slide 35: Strategic Plan 2025-2028
Strategic Plan 2025-2028 Sword Group 35
Slide 36: 2025 - 2028 Objectives | Organic Growth
2025 - 2028 Objectives | Organic Growth Business Plan by forfaitising the a priori effect of accelerators: By achieving double-digit annual organic growth €560 m With Acquisitions c. €700 m 2028 MARKET CAP. >€1 Mrd Sword Group 36
Slide 37: Figures
Figures Sword Group 37
Slide 38: H1 2025 | Key Figures
H1 2025 | Key Figures +12.0% Organic Growth at constant perimeter €175.8m H1 2025 Consolidated Revenue 12.0% EBITDA margin Sword Group 38
Slide 39: H1 2025 | Consolidated Breakdown
H1 2025 | Consolidated Breakdown €m H1 2025 (*) Revenue EBITDA Margin Organic Growth (i) BeNeLux | Greece | Spain | EU 57.3 9.2% +1.6% Locations Switzerland | Canada 55.3 11.6% +13.4% UK | US 53.1 12.7% +24.4% Offshore Global Services 10.1 26.1% +13.5% Centers | Middle East TOTAL 175.8 12.0% +12.0%
Slide 40: H1 2025 | PnL
H1 2025 | PnL (i) (i) With no impact of amortization of backlog acquisition €m H1 2025 Revenue 175.8 Current EBITDA 21.1 | 12.0% Current EBIT 17.7 | 10.1% Non Current Costs 4.0 Financial Costs 1.1 Corporate Tax 2.7 Net Profit after corporate tax (i) 9.8 | 5.6% Sword Group 40
Slide 41: H1 2025 Balance Sheet | Non-Current Assets
H1 2025 Balance Sheet | Non-Current Assets €k 31.12.2024 30.06.2025 ASSETS NON-CURRENT ASSETS Goodwill 79,535 80,810 Other intangible assets 11,632 12,566 Property, plant & equipment 4,573 4,196 Assets related to the right of use 10,603 12,638 Financial assets at fair value through 113 435 other com
Slide 42: H1 2025 Balance Sheet | Current Assets
H1 2025 Balance Sheet | Current Assets €k 31.12.2024 30.06.2025 ASSETS CURRENT ASSETS Trade and other 34,839 46,475 Increase partly due to new contract receivables wins (EU and Scotland) Work in progress 63,027 68,694 Current tax assets 1,185 1,332 Other assets 6,747 6,691 Cash and cash equivalent
Slide 43: H1 2025 Balance Sheet | Financial Debt
H1 2025 Balance Sheet | Financial Debt €k 31.12.2024 30.06.2025 EQUITY AND LIABILITIES EQUITY Share capital 9,545 9,545 Share premiums 70,676 70,676 Reserves 10,420 7,853 Retained earnings 4,807 (22,952) TOTAL EQUITY - GROUP SHARE 95,448 65,122 Non-controlling interests (minority 1,662 1,671 interes
Slide 44: H1 2025 | Net Cash Position
H1 2025 | Net Cash Position (i) H1 2025 No more share deals payments until 2029 Net cash Position on June 30, 2025: €-44.5m H1 exceptional: €-23.5m (Share deals) H1 delays: €-13m H1 acquisitions costs: €-3m (Next acquisitions e.g: Due Diligence) Net cash position “ as usual”: €-5.0m on Jun
Slide 45: H1 2025 | Backlog
H1 2025 | Backlog [31/12/2024] [30/06/2025] Backlog: Backlog: €631.8m €637.9 (21.1 months) (21.3 months) Sword Group 45
Slide 46: H1 2025 Top 10 Clients
H1 2025 Top 10 | Clients Company Location DG Informatics (DIGIT) BeNeLux DG TAXUD BeNeLux 3 1 2 European Parliament BeNeLux Harbour Energy UK The first 10 clients The first client represent 31.1% of represents 7.1% Richemont Switzerland of the H1 2025 the H1 2025 RockRose Energy UK Consolidated Cons
Slide 47: Staff | Details
Staff | Details Staff on 01/01/2025 3,211 New comers +293 M&A (iDELTA) +8 Leavers -168 Staff on 30/06/2025 3,344 (i) (ii) Staff Turnover 10.5% (i) FTE (ii) 3,524 Sword Group 47
Slide 48: Sword Group's Share
Sword Group’s Share Sword Group 48
Slide 49: Share return
Share return +55% +13% +5.5% -6.1% +12.5% 2021 Total Share 2022 Total Share 2023 Total Share 2024 Total Share 2025 Total Share Return (TSR) Return (TSR) Return (TSR) Return (TSR) Return (TSR) 01/01: €31.35 - 31/12: 01/01: €43.65 - 31/12: 01/01: €39.4 - 31/12: 01/01: €39.85 - 31/12: 01/01: €35.7 - 30
Slide 50: Financial Key Dates
Financial Key Dates Sword Group 50
Slide 51: Financial Calendar
Financial Calendar 31 PUBLICATIONS MEETINGS 23/10/2025 12/03/2026 2025 | Q3 Results SFAF Meeting | FY2025 Results 22/01/2026 in Paris 2025 | Q4 Results 11/03/2026 28/04/2026 Annual 2025 | FY Results Shareholders Meeting | 2025 Sword Group 51
Slide 52: Follow Sword
FOLLOW SWORD sword-group.com Sword Group @SwordGroup Sword Group Sword Group | 2 rue d’Arlon L-8399 Windhof - Luxembourg SE capital €9,544,965 - B168244