ALSO revenue nears €7bn in H1
The 35 per cent increase was driven by the company’s cloud operations and Westcoast acquisition
Swiss distie ALSO revenue surged 35 per cent in H1 FY25, reaching €6.9bn (£5.98bn) from €1.8bn the year before.
The massive increase was reportedly driven by the company’s portfolio and cost optimisation, as well as by the acquisition of distribution powerhouse Westcoast in February.
The company’s digital platforms (cloud, IoT, cybersecurity, virtualisation, AI) also fuelled this momentum, with the cloud platform going through a 34 per cent surge in unique users to 5.5m, bringing its revenue to €845m, a 22 per cent rise from €662m last year.
The increase in cloud revenue is partly fuelled by the firm’s expansion into the US market last year.
By crossing the Atlantic, ALSO aimed to reach the US’s “90 million commercial unique users”, as well as its total addressable ICT market of $1.5tn.
ALSO’s standalone revenue went up eight per cent, reflecting significant progress from the same period last year as the company’s earnings dropped seven per cent in H1 FY24.
Net sales soared 27.8 per cent, from €4.28bn to €5.93bn year-on-year.
The distribution group also achieved a reported EBITDA of €125.69m in the first half of the year, compared to €94.1m last year.
Return on capital employed (ROCE) stood at 11.8 per cent.
Following these results, the company now expects EBITDA to reach between €285m and €325m in FY25, and ROCE to rise to 17 per cent.
In the medium term, the organisation intends for EBITDA to range from €425m and €525m, with ROCE at 25 per cent.
“We thank our resellers, vendors, suppliers, shareholders, and especially our employees for their support,” said Wolfgang Krainz, CEO of ALSO.
The buyout of Westcoast and its subsidiaries earlier this year for €552.72m (£479.54m) contributed to €1.31bn to net sales, €20.88m to EBITDA, and €2.53m to consolidated net profit.
This move, which the distie claims has made him Europe’s largest tech provider, also represents “a wonderful opportunity to chase [TD SYNNEX] down,” according to Westcoast’s former UK MD Alex Tatham.