Press Release
Windhof - October 22, 2026
Sword Group | Q3 2026 Results
Outperformance in terms of organic growth: +17.1%
Consolidated Revenue: €100.2m
Profitability (EBITDA Margin): 12.0%
Consolidated
Revenue
€287.9m
EBITDA
Margin
12.0%
YTD 2026
KEY FIGURES
The consolidated revenue for the third quarter of 2026 amounted to €100.2 million,
representing an increase of +17.1% at constant scope and +16.6% at constant scope and
exchange rates compared with the third quarter of 2025.
Organic Growth
on a like-for-like basis and at constant
exchange rates
+14.6%
Profitability (EBITDA margin) reached 12.0%, corresponding to €12.0 million.
unaudited figures
The consolidated revenue at 30 September 2026 amounted to €287.9 million,
representing an increase of 14.6% at constant scope and exchange rates compared with
30 September 2025.
Reported figures include the acquisition of CirrusHQ, consolidated from 1 May 2026.
The organic growth calculation excludes CirrusHQ revenue in 2026 and Tipik revenue
in 2025.
Alternative Performance Measures (APMs)
This press release contains Alternative Performance Measures
(APMs) used by the Group to monitor its performance. In
accordance with ESMA Guidelines
(ESMA/2015/1415), a
definition, the method of calculation, a reconciliation with the
consolidated financial statements and an explanation of their
usefulness are provided in the appendix to this document.
For reference, these indicators are also defined on pages 16 and
17 of the 2025 Annual Financial Report.
Q3 2026 ACCOUNTS
€m
Revenue
EBITDA
EBITDA Margin
unaudited figures
2026
100.2
12.0
12.0%
ACCOUNTS AT 30 SEPTEMBER 2026
€m
Revenue
EBITDA
EBITDA Margin
unaudited figures
2026
287.9
34.5
12.0%
2025
91.2
11.0
12.1%
2025
267.0
32.0
12.0%
[1/4]
Agenda
25/01/27
Publication of
Q4 2026 Revenue/10/2
10/03/27
Publication of
FY 2026 Revenue
Sword Group
Sword has 4,000+ IT/Digital specialists
active in 50+ countries to accompany you in
the growth of your organisation in the digital
age.
As a leader in technological and digital
transformation,
solid
Sword
reputation in complex IT & business project
management.
Sword optimises your processes and
enhances your data.
has
a
Sword Group - 2, rue d’Arlon L-8399 Windhof - investorrelations@sword-group.lu
sword-group.com
MarketEuronext ParisCompartment BISIN CodeFR0004180578ICB 9530 Software & Computer ServicesIndicesCAC® SmallCAC® Mid & SmallCAC® All-TradableEN TECH LeadersThe press release will be published on the web sites hereafter: GlobeNewswire/Notified and Sword Group. It was also sentto the “Commission de Surveillance du Secteur Financier (CSSF)” and saved on the Luxembourg Stock Exchange’s website.
Press Release
Windhof - October 22, 2026
ANALYSIS
Sword’s new growth model, resulting from the success of our AI transformation plan, is
delivering results above our expectations.
The strength of our backlog and the performance of our AI, resilience and cloud
offerings ensure the Group’s long-term sustainability.
Our business model is primarily based on organic growth.
Growth in the French-speaking region (Switzerland, France, Quebec) will be driven by
the development of Switzerland and Canada, but not France, as our acquisition objective
in France has been abandoned.
The Group’s M&A policy remains focused on “technology“ acquisitions.
HIGHLIGHTS OF THE QUARTER
This quarter was marked by major contract signings with the European Union and large
Anglo-Saxon companies. These new contracts, combined with the Group’s new offerings,
strongly boosted organic growth. The Group is staying the course in the Middle East
despite the current context.
OUTLOOK
The Group confirms its 2026 annual targets, both in terms of organic growth and profitability.
[2/4]
Consolidated
Revenue
€287.9m
EBITDA
Margin
12.0%
YTD 2026
Organic Growth
on a like-for-like basis and at constant
exchange rates
+14.6%
unaudited figures
Alternative Performance Measures (APMs)
This press release contains Alternative Performance Measures
(APMs) used by the Group to monitor its performance. In
accordance with ESMA Guidelines
(ESMA/2015/1415), a
definition, the method of calculation, a reconciliation with the
consolidated financial statements and an explanation of their
usefulness are provided in the appendix to this document.
For reference, these indicators are also defined on pages 16 and
17 of the 2025 Annual Financial Report.
Agenda
25/01/27
Publication of
Q4 2026 Revenue/10/2
10/03/27
Publication of
FY 2026 Revenue
Sword Group
Sword has 4,000+ IT/Digital specialists
active in 50+ countries to accompany you in
the growth of your organisation in the digital
age.
As a leader in technological and digital
transformation,
solid
Sword
reputation in complex IT & business project
management.
Sword optimises your processes and
enhances your data.
has
a
Sword Group - 2, rue d’Arlon L-8399 Windhof - investorrelations@sword-group.lu
sword-group.com
MarketEuronext ParisCompartment BISIN CodeFR0004180578ICB 9530 Software & Computer ServicesIndicesCAC® SmallCAC® Mid & SmallCAC® All-TradableEN TECH LeadersThe press release will be published on the web sites hereafter: GlobeNewswire/Notified and Sword Group. It was also sentto the “Commission de Surveillance du Secteur Financier (CSSF)” and saved on the Luxembourg Stock Exchange’s website.
3
Press Release
Windhof - October 22, 2026
Appendix | Alternative Performance Measures (APMs)
In accordance with the ESMA Guidelines (ESMA/2015/1415), the Group presents below the
definitions, calculation methods, reconciliations with the financial statements and the rationale for
the usefulness of the main alternative performance measures used in this press release.
The terminology, definitions and calculation methods of these alternative performance measures
are applied consistently over time. They are identical to those used in the Group’s annual and
half-yearly publications.
1. EBITDA
Definition: The EBITDA margin is the ratio of EBITDA to consolidated revenue. EBITDA corresponds
to EBIT («Earnings before interest and taxes excluding non-recurring items» in the consolidated
income statement) plus depreciation and amortisation.
Methodology: EBITDA is a subtotal of the consolidated income statement («Earnings before
interest, taxes, depreciation and amortisation excluding non-recurring items»). It is obtained by
adding depreciation and amortisation to EBIT. Non-recurring items are excluded, as they are
presented below EBIT.
Link with the financial statements: EBITDA and EBIT are presented as subtotals in the consolidated
income statement prepared in accordance with IFRS.
Usefulness: The EBITDA margin makes it possible to assess the Group’s medium-term performance
trend, excluding non-recurring costs. It also makes it possible to assess the Group’s ability to
generate cash from ordinary operations, i.e. its self-financing capacity.
Reconciliation: The Group does not prepare consolidated financial statements at 30 September.
In accordance with paragraph 31 of the ESMA Guidelines, EBITDA is therefore reconciled below
to EBIT, the most directly reconcilable aggregate in the consolidated financial statements. EBIT is
calculated and presented using the same principles as in the consolidated financial statements for
the 2025 financial year (2025 annual financial report, pages 16 and 17).
€m
Revenue
EBIT
+ D e p r e c i a t i o n
and amortisation
EBITDA
EBITDA margin
(EBITDA
/
revenue)
9 mounths 2026
9 mounths 2025
287.9
26.4
8.1
34.5
267.0
25.3
6.7
32.0
Q3 2026
100.2
9.3
2.7
12.0
Q3 2025
91.2
8.7
2.3
11.0
12.0%
12.0%
12.0%
12.1%
2. Organic growth at constant scope and exchange rates
Definition: Organic growth corresponds to the change in the Group’s revenue excluding scope
effects and currency effects. Revenue from acquired or divested companies is excluded, and
exchange rate fluctuations are neutralised. This indicator is an alternative performance measure
that is not directly derived from the financial statements prepared in accordance with IFRS.
Methodology: The reference scope is that at 31 December 2025. Figures are restated to reflect
this scope. Currency effects are neutralised by applying the average exchange rates of the
comparison period. Revenue from acquired or divested entities is excluded over the entire
comparison period to ensure like-for-like comparability.
Q3 2026
- Consolidated growth: +9.9%
- Exchange rate impact: -0.5%
- Scope impact: +7.2%
- Organic growth: +16.6%
Link: Calculated from the Group’s consolidated revenue prepared in accordance with IFRS.
Usefulness: Measures the Group’s actual internal growth, independently of external growth
transactions and exchange rate fluctuations.
YTD 2026
- Consolidated growth: +7.8%
- Exchange rate impact: +0.1%
- Scope impact: +6.7%
- Organic growth: +14.6%
[3/4]
Consolidated
Revenue
€287.9m
EBITDA
Margin
12.0%
YTD 2026
Organic Growth
on a like-for-like basis and at constant
exchange rates
+14.6%
unaudited figures
Agenda
25/01/27
Publication of
Q4 2026 Revenue/10/2
10/03/27
Publication of
FY 2026 Revenue
Sword Group
Sword has 4,000+ IT/Digital specialists
active in 50+ countries to accompany you in
the growth of your organisation in the digital
age.
As a leader in technological and digital
transformation,
solid
Sword
reputation in complex IT & business project
management.
Sword optimises your processes and
enhances your data.
has
a
Sword Group - 2, rue d’Arlon L-8399 Windhof - investorrelations@sword-group.lu
sword-group.