As expected, a large proportion of the EBITDA was generated in the second half of the year: 85.7 million Euro (previous year: 67.1 million Euro) following 37.8 million Euro in the first half of 2025. Among the reasons are calendar-related effects due to the distribution of available working days throughout the year. Profitability, measured by the EBITDA margin, rose to 8.4 per cent in 2025 (previous year: 7.4 per cent). This is primarily attributable to improved utilisation of staff and licence sales in the insurance product business. Consolidated profit after tax rose significantly to 17.5 million Euro (previous year: 4.2 million Euro).
Prudent staff expansion
In terms of staff expansion, adesso slowed the pace of growth in 2025 and will continue to follow this approach. The average number of full-time equivalents (FTE) rose by 8 per cent to 10,841 in 2025, and thus once again at a lower rate than revenue. By the end of the year, the number of FTE had increased by 9 per cent compared with the previous year to 11,298. 40 per cent of this growth was attributable to international operations, particularly the SmartShore locations where adesso’s international delivery centres are based. Personnel costs per FTE rose moderately by 3 per cent. In absolute terms, they rose by 11 per cent to 986.5 million Euro, growing at a slower rate than revenue.
Public administration remains the largest segment; healthcare and utilities show the highest growth
Demand for adesso’s IT services remains high in the wake of the digital transformation of businesses. As in the previous year, the ‘Public Administration’ sector, with revenue well above 200 million Euro, is the segment with the highest revenue, having grown by a further 11 per cent. The ‘Cross Industries’ division, which encompasses several sectors, also recorded annual revenue of well over 200 million Euro. The established core sectors “Insurance” and “Banks/Financial Services” recorded strong growth rates of 20 and 9 per cent respectively. The highest growth rates were achieved by the “Healthcare” sector at 30 per cent and “Utilities” at 24 per cent. All four of these sectors achieved revenues in excess of 150 million euros each.
