Press Release
Windhof - July 23, 2026
Sword Group | Q2 2026 Results
Consolidated Revenue: €97.0m
Organic Growth (i): +13.7%
Profitability (EBITDA Margin): 12.0%
(i) on a like-for-like basis and at constant exchange rates
KEY FIGURES
The consolidated revenue for the second quarter of 2026 amounted to €97.0 million, representing
an increase of 13.7% at constant scope and exchange rates compared with the second quarter of
2025.
Profitability (EBITDA margin) reached 12.0%, corresponding to €11.6 million.
The consolidated revenue for the first half of 2026 amounted to €187.7 million, representing an
increase of 12.6% at constant scope and exchange rates compared with the first half of 2025.
Profitability (EBITDA margin) also reached 12.0%, corresponding to €22.6 million.
H1 2026 ACCOUNTS
unaudited figures
Consolidated
Revenue
€187.7m
EBITDA
Margin
12.0%
H1 2026
Organic Growth
on a like-for-like basis and at constant
exchange rates
+13.7%
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 (French version; English
version currently being translated).
€m
Revenue
EBITDA
EBITDA Margin
On a like-for-like basis and at constant exchange rates
ANALYSIS
The performance delivered in the first half of 2026 confirms the Group’s growth momentum,
with organic growth of 12.6% and profitability reaching 12.0%, demonstrating Sword’s ability to
combine expansion with sustained profitability.
2025
175.8
21.1
12.0%
2026
187.7
22.6
12.0%
The Group continues to invest across its four areas of expertise: Consulting, Applications, Platforms
and Infrastructure ; while leveraging its three strategic competencies: Artificial Intelligence, Cloud
and Resilience.
The acquisition of CirrusHQ during the period illustrates the Group’s commitment to strengthening
its strategic capabilities through targeted, value-accretive external growth initiatives.
The completion of Pathfinder, the Group’s proprietary AI methodology, now positions Sword
as a leading player in supporting organisations through their transformation towards Artificial
Intelligence.
Supported by a strong backlog and a robust pipeline of opportunities, Sword enters the second
half of the year with confidence.
OUTLOOK
The Group confirms its 2026 full-year objectives, targeting both 12% organic growth and a 12%
profitability level. The first-half performance, together with the outlook for the second half of the
year and beyond, will be discussed in greater detail during the financial presentation scheduled
for September 10 👉Register here.
[1/3]
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.
2
Press Release
Windhof - July 23, 2026
Appendix | Alternative Performance Measures (APMs)
In accordance with ESMA Guidelines (ESMA/2015/1415), the Group presents below the
definitions, calculation methods, links with the financial statements and explanations of the
usefulness of the main Alternative Performance Measures (APMs) used in this press release.
The terminology, definitions and calculation methods of these Alternative Performance Measures
are applied consistently and on a stable basis over time. They are identical to those used in the
Group’s annual and half-yearly publications.
Consolidated
Revenue
€187.7m
EBITDA
Margin
12.0%
H1 2026
1. EBITDA
Definition: Recurring operating income before depreciation and amortisation, excluding
non-recurring items. It corresponds to revenue less purchases, personnel expenses, external
expenses, provisions and other recurring operating expenses, plus reversals of provisions and
recurring operating income.
Methodology: EBITDA is calculated from the consolidated income statement by adding
depreciation, amortisation and impairment charges to recurring operating income and by
neutralising non-recurring items.
Link: EBITDA is calculated based on items from the consolidated income statement prepared in
accordance with IFRS.
Usefulness: To assess trends in operating performance over the medium term and to measure the
Group’s self-financing capacity.
In the absence of published interim financial statements as of the date of this press release, EBITDA
is presented as a management indicator derived from the accounting information currently
available. A detailed reconciliation with IFRS measures will be provided in the Half-Year Financial
Report to be published on August 30, 2026. The calculation principles remain unchanged from
those described in the 2025 Annual Financial Report (pages 16 and 17).
2. Profitability (EBITDA Margin)
Definition: EBITDA / Consolidated revenue.
Methodology: EBITDA margin = EBITDA / consolidated revenue.
Link: The components used to calculate the EBITDA margin (EBITDA and consolidated revenue)
are derived from the consolidated financial statements prepared in accordance with IFRS.
Usefulness: To monitor operating profitability before depreciation and amortisation.
3. Organic growth at constant scope and exchange rates
Definition: Organic growth corresponds to the change in the Group’s revenue excluding scope
effects and exchange rate effects. Revenue from acquired or divested companies is excluded,
and exchange rate variations are neutralised. This indicator is an Alternative Performance Measure
not directly derived from financial statements prepared in accordance with IFRS.
Methodology: The reference scope is that determined as at 31 December 2025. Figures are
adjusted to reflect this scope. Exchange rate effects are neutralised using average exchange rates
for the comparative period. Revenue from entities acquired or divested is excluded over the
entire compared period to ensure consistent comparability.
Q2 2026
H1 2026
- Consolidated growth: +7.4%
- Consolidated growth: +6.8%
- Exchange rate impact: +0.1%
- Exhange rate impact: +0.3%
- Scope impact: +6.2%
- Scope impact: +5.5%
- Organic growth: +13.7%
- Organic growth: +12.6%
Link: Calculated based on the Group’s consolidated revenue prepared in accordance with IFRS.
Usefulness: To measure the Group’s genuine internal growth, independently of external growth
transactions and exchange rate fluctuations.
[2/3]
Organic Growth
on a like-for-like basis at constant
exchange rates
+12.6%
unaudited figures
Agenda
10/09/26
Half-Year Results Presentation Meeting
10am, Lyon + Visioconference
👉 Registration
22/10/26
Publication of
Q3 2026 Revenue
Sword Group
Sword has 3,900+ 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
Market Euronext ParisCompartment B ISIN CodeFR0004180578ICB 9530 Software & Computer ServicesIndicesCAC® SmallCAC® Mid & SmallCAC® All-TradableEN TECH LeadersThe press release will be published on the web sites here after: 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 - July 23, 2026
3
Appendix | Alternative Performance Measures (APMs)
4. Backlog or order book
Definition: Forward-looking operational indicator measuring the Group’s future commercial
activity, expressed in number of months of activity coverage. This indicator is an Alternative
Performance Measure not directly derived from financial statements prepared in accordance with
IFRS.
Methodology: The backlog is calculated by comparing the volume of firm or expected
orders not yet recognised as revenue with the budgeted revenue remaining to be
achieved for the financial year, after deduction of revenue already realised. It includes:
signed orders
at 80%);
contracts in the award process with a shortlisted position (weighted at 50%).
100%); verbal
commitments
(weighted
(weighted
at
Link: Forward-looking operational indicator, not directly derived from financial statements
prepared in accordance with IFRS.
Consolidated
Revenue
€187.7m
EBITDA
Margin
12.0%
H1 2026
Organic Growth
on a like-for-like basis at constant
exchange rates
+12.6%
Usefulness: Indicator used to assess the Group’s commercial visibility and the level of coverage
of future activity.
unaudited figures
Agenda
10/09/26
Half-Year Results Presentation Meeting
10am, Lyon + Visioconference
👉 Registration
22/10/26
Publication of
Q3 2026 Revenue
Sword Group
Sword has 3,900+ IT/Digital specialists
active in 50+ countries to accompany you in
the growth of your organisation in the digital
age.