ALSO boosts earnings: developing into a technology provider
| 26 July, 2019
In the first half of 2019 the ALSO Group generated an EBITDA of EUR 64.4 million, a 15 percent increase before application of IFRS 16. Sales were up by 14 percent to EUR 4.8 billion, which means that further market shares were gained in the highly competitive IT business.
These results are due to the ongoing structural optimization project and to improvements in gross profit and acquisitions. At a market development of plus 4.6 percent (according to Context) ALSO was able to gain significant market shares. The new Centers of Competence made a significant contribution towards this growth. All three business models developed positively: Supply +13.8 percent, Solutions +15.8 percent and As-a-Service +12.7 percent. After application of IFRS 16, EBITDA in the first half of 2019 totaled EUR 76.3 million, a 36.2 percent improvement.
Overall, the growth of IT-as-a-Service / ALSO Cloud-Business has continued to accelerate. In the first half of 2019 it grew from EUR 62 million to EUR 97 million, a year-on-year increase of 56 percent. The number of IT seats increased from 2.3 million to 2.9 million, an increase of 23 percent in the number of seats managed directly by ALSO and of 30 percent in the number managed by our partners.