ALSO Holding AG Confirms 2024 Targets Based on H1 Results

ALSO Holding AG, a leading ICT provider, has reaffirmed its targets for 2024 following its H1 performance. The company has set short-term EBITDA targets between 265 to 305 million euros and aims to maintain a short-term ROCE above 25 percent. The first half of the year showed an operating EBITDA of 106 million euros, reflecting a 2.1% EBITDA margin. Cloud revenues surged by 25%, reaching 662 million euros.

Despite a 7% revenue decline to 5.1 billion euros, due to reduced consumer spending in Germany, Poland, and the Netherlands, ALSO maintained strong financial health. The company reported a cash position of 643 million euros and a free cash flow of 173 million euros.

Key investments included IT infrastructure, digital platforms, AI-enabled applications, and M&A activities. The company expects market conditions to improve in the latter half of 2024 and foresees growth through recent acquisitions in Italy, Austria, Scandinavia, and the Czech Republic.

CEO Wolfgang Krainz emphasized the growth potential in the IT sector and the company's strategic focus, bolstered by financial stability, to meet short- and medium-term goals.