SYS-DAT (also known as SysGroup PLC) announced first‑half 2026 results on September 10, showing revenue of €52.3 million, a 15.7% increase year‑over‑year. Organic revenue grew 7.4%, a rate the company expects to maintain through the full year.
EBITDA rose to €10.2 million, up 23.7% from the prior period, lifting the EBITDA margin to 19.6% from 18.3% a year earlier. The organic EBITDA margin stood at 20.3%. Net income reached €3.9 million, a 22.6% gain, translating to a 9.2% net‑income margin after adjusting for purchase‑price allocation effects.
Operating cash flow totaled €12.4 million, representing more than 120% of EBITDA. The balance sheet showed €47 million in liquidity at the end of the semester, down from €48.5 million at the start, reflecting €10.5 million allocated to acquisitions, share buybacks and dividends. M&A payments amounted to €6.6 million, the buyback programme €3.2 million and dividends €1.2 million. Excluding acquisition‑related earnout debt, the net cash position was €16.4 million. R&D spending represented roughly 4% of revenue, with €2 million capitalized out of €2.3 million total capex. The company reported a current ratio of 1.45, a beta of 0.43 and an InvestingPro Financial Health Score of 1.99.
The stock fell 5.46% in the latest session, closing at $25.50, down $1.50 from $27.50. The 52‑week range is $13 to $36.
SYS‑DAT highlighted the broader Italian ICT market, which is expanding at 6.5%‑6.8% annually and is projected to grow at a 6.8% compound annual rate through 2029. The firm serves over 6,000 customers with no major concentration risk; the top ten clients account for 12% of revenue and the top thirty for 21%. Revenue distribution by customer size is 38% from firms with turnover above €50 million, 28% from €10‑50 million, 16% from €2‑10 million and 18% from under €2 million. By sector, manufacturing contributes about 44%, services 27% and commerce 22%, with the remainder split among logistics, healthcare and utilities. Recurring and repeatable fees make up 80% of total revenue.
The company cited progress on its MosAI‑C artificial‑intelligence programme, aimed at internal process optimisation and new customer‑facing features, and outlined its 2026‑2028 business plan. Recent acquisitions include A&C Group, et.ics and Technis Blu, while notable customers and partners mentioned were DRASS, ARAG, RefrigiWear and Asitrade.
Executive commentary underscored the focus on profitable growth, integration synergies and margin expansion, with the CFO noting that sales are outpacing costs, driving the improved EBITDA margin.
