EQS-News: H1 25/26: Challenging environment and significant changes in IT market // Revised forecast // Programme to boost competitiveness 

H1 25/26: Challenging environment and significant changes in IT market // Revised forecast // Programme to boost competitiveness 

• Revenue of EUR 250.4 million (H1 24/25: EUR 257.6 million), down 3% on prior year; Cloud and services growth at 3%; Software and support revenue down 8%
• Share of recurring revenues increases to 53% (H1 24/25: 52%)
• EBIT margin before M&A effects (non-IFRS) falls to 2.8% (H1 24/25: 5.4%); EBIT before M&A effects (non-IFRS) falls to EUR 6.9 million (H1 24/25: EUR 14.0 million)
• Adjusted EBIT before M&A eEffects (non-IFRS) at EUR 9.4 million
• Thomas Herbst to become COO
• All for One approves »Precision«, a programme to boost competitiveness; Annual cost savings of up to EUR 20 million
• Revision of forecast for 25/26

Filderstadt, 7. May 2026 – All for One Group SE, a leading international IT, consulting and service provider focusing on SAP solutions and services, generated sales revenue of EUR 250.4 million (H1 24/25: EUR 257.6 million) in the 6-month period 25/26 based on preliminary unaudited figures, 3% down on the prior-year figure. Demand for IT services remains strong; however, against a backdrop of persistent economic and geopolitical uncertainty, customers – particularly in German-speaking countries – are postponing and scaling back their investment decisions. This reluctance has recently been further exacerbated by the escalation of the war in Iran; a short-term rebound is not currently in sight.

Revenue in the 2nd quarter of 25/26 rose by 1% to EUR 124.6 million (Q2 24/25: EUR 123.3 million) as a result of the initial consolidation of the »apsolut Group« from March 2026. Adjusted for this effect, revenue would have fallen by 2%. EBIT before M&A effects (non-IFRS) fell to EUR 0.3 million (Q2 24/25: EUR 3.0 million).

In the 1st half of 25/26, external factors led to a decline in consulting revenue (down 3%) and a significant drop in software and support revenue (down 8%). Recurring revenue stood at EUR 133.2 million, just below the prior-year level, and accounted for 53% (52% in the same period last year) of total revenue. In terms of cloud and services revenue, the ongoing trend towards the cloud continued, with a 3% increase to EUR 75.7 million. Influenced by the postponement of IT projects and lower revenue from licences and commissions, EBIT before M&A effects (non-IFRS) halved to EUR 6.9 million in the 6-month period 25/26 (H1 24/25: EUR 14.0 million). This corresponds to an EBIT margin before M&A effects (non-IFRS) of 2.8% (5.4% in the same period last year).

In order to present the operational performance for the current financial year in a more comparable manner, the company also reports an adjusted EBIT before M&A effects (non-IFRS), from which significant one-off costs are excluded. Adjusted EBIT before M&A effects (non-IFRS) for the 6-month period 25/26 stands at EUR 9.4 million.

In the 1st half of 25/26, revenue in the »Germany« segment fell by 4% to EUR 200.3 million (H1 24/25: EUR 208.6 million), primarily due to lower consulting utilisation. The segment result stood at EUR 10.7 million (margin 5.3%). In the »Rest of Europe«, revenue rose slightly to EUR 61.6 million (H1 24/25: EUR 60.4 million); the segment result fell to EUR 2.1 million (margin 3.5%). The »Rest of World« segment remains small in terms of volume but is developing steadily and profitably. Revenue here rose to EUR 7.0 million (H1 24/25: EUR 5.9 million) due to the consolidation of the »apsolut Group« from March 2026, with a segment profit of EUR 0.6 million (margin 8.6%).

The equity ratio as at 31 March 2026 stood at 25% (30 Sep 2025: 33%). The number of employees rose to 3,073 as at 31 March 2026 following the acquisition of the »apsolut Group« (31 Mar 2025: 2,723).

Successful M&A strategy and integration – Thomas Herbst to become COO

At the start of 2026, the All for One Group successfully implemented its M&A strategy and significantly expanded its international presence and portfolio in the areas of SAP procurement and cybersecurity through the acquisition of the international »apsolut Group« and a minority stake in the Austrian cybersecurity provider BrightFlare FlexCo. This makes All for One one of the few providers worldwide to offer comprehensive coverage of the entire SAP Business Suite portfolio.

Following the acquisition of the »apsolut Group« and its ongoing successful integration, the All for One Group is expanding its senior management team.. With effect from 1 July 2026, Thomas Herbst will become the new Chief Operating Officer and, in this role, will be responsible for the Group’s entire consulting business. »With Thomas Herbst, we have found the ideal candidate for the important role of Chief Operating Officer. Thomas is an experienced manager and professional in international consulting and key account business – both of which are of strategic importance to us. The addition of Thomas to the Group Executive Management sends a strong signal – to the market, SAP and our team«, said Michael Zitz, CEO of All for One.

Geopolitical situation and changes in the IT market

External factors such as the weak economic growth in German-speaking countries due to geopolitical factors and the growing tensions surrounding Iran are weighing on All for One’s performance. At the same time, structural market changes are forcing IT service providers to adapt quickly.

All for One believes the IT services market is at a turning point: with Agentic AI, value creation is shifting significantly away from mere implementation towards integrated data and process architectures, as well as confident, governance-backed operations. Where autonomous systems take over tasks directly within end-to-end processes, the demands for consistent data, clear authorisations, stable interfaces and audit-proof processes increase – with ERP remaining the stable foundation.

As expected, SAP is taking the next major steps towards autonomous business management: Joule as a central AI assistant, a comprehensive expansion of the Business Suite for cross-functional process execution, industry-specific AI apps with integrated process and regulatory knowledge, and an AI platform for data, context and governance. Of particular relevance to the midmarket and large existing customers: AI scenarios are set to become accessible for selected ECC and on-premise environments in the future, thereby opening up a pragmatic path to realising the added value of AI sooner and successfully managing the transformation to the cloud.

For All for One, this opens up new growth opportunities based on a consistent »build-deploy-run« approach, featuring expanded AI consulting and transformation services, proprietary AI agents and products, the expansion of managed and AI governance services, and cybersecurity offerings. Companies are increasingly evaluating software and services based on measurable business benefits – key performance indicators such as the degree of automation, turnaround times, error rates and the quality of autonomous decisions are taking centre stage. All for One addresses this shift with clean-core strategies, open and model-agnostic architectures, and scalable service packages to guide customers quickly to demonstrable results. This is intended to sustainably increase both recurring revenue and profitability. All for One continues to see significant potential in the migration of new and existing customers to S/4HANA and in the implementation of SAP Cloud applications.

At the same time, All for One is improving internal process efficiency through the widespread use of AI, for example with its proprietary All41-GPT, department-specific AI applications and agents. In addition, AI-supported support processes and AI software development are leading to further significant productivity gains.

The IT sector is increasingly focusing its core business on AI, led by SAP, which is positioning itself as an »AI company«’. This is changing All for One’s revenue streams as well as the requirements for skills and capacity. Extensive process, cloud and AI capabilities for the evaluation and implementation of vendor innovations, the rapid deployment of scalable cloud services, and the development of AI industry applications and customer-specific use cases are now becoming key success factors for All for One in an increasingly international environment.

Programme to boost competitiveness

Against this backdrop, the management board has approved a programme called »Precision« to enhance competitiveness. The aim is to drive forward the AI and cloud transformation more quickly more profitably and in a way that is tailored to specific needs and sectors.

The programme involves the realignment of the delivery model and go-to-market strategy, the creation of synergies within management structures, the systematic reduction of staff and operating costs, and the accelerated integration of the »apsolut Group« as the foundation for comprehensive end-to-end consulting and further internationalisation. To this end, a redundancy scheme is planned, among other measures, and will be implemented in the near future. In addition, a scalable delivery setup will be expanded with greater use of nearshore and offshore resources, the organisation will be restructured into a global sales organisation, and increased investment will be made in AI resources and development.

As part of these planned comprehensive measures, the company expects to incur one-off expenses of up to EUR 20 million in the 25/26 financial year.

»To ensure the consistent implementation of our »One Plan 2030«, we are now using our operating model to reorganise our processes and structures in a forward-looking and more efficient manner – with the aim of becoming the world’s leading SAP partner for midmarket companies in our core industries and target markets«, explains Michael Zitz.

Revision of forecast for 25/26

Against this backdrop, All for One is revising its forecast for the current financial year 25/26 based on the information currently available. Although the annual targets were confirmed in the interim statement for the 1st quarter of 25/26 despite deteriorating market conditions, the 2nd quarter of 25/26 (January to March 2026), including the »apsolut Group«, fell short of expectations. For the financial year 25/26, the company now expects consolidated revenue, including the »apsolut Group«, to be in the range of EUR 500 to 530 million from March 2026 onwards (previously excluding the »apsolut Group«: EUR 500 to 530 million). An EBIT before M&A effects (non-IFRS), including one-off expenses, of EUR 0 with a fluctuation range of EUR 5 million is expected (previously: EUR 27.5 to 34.5 million).

Assuming market conditions remain unchanged, the »Precision« programme is expected to have a positive impact of up to EUR 20 million per year on EBIT before M&A effects (non-IFRS) from autumn 2026 onwards.

About All for One Group SE

All for One Group is an international IT, consulting, and service provider with a strong focus on SAP solutions. With a clear commitment to transforming technology into tangible business success, the industry-specialised company supports and assists its more than 4,500 midmarket customers – including many family-owned businesses – in their journey to the cloud. All for One Group is the leading SAP partner in Central and Eastern Europe for both conversion to SAP S/4HANA and SAP cloud business.

In financial year 2024/25, All for One Group generated revenue of EUR 504 million. The company, headquartered in Filderstadt near Stuttgart, is listed in the Prime Standard of the Frankfurt Stock Exchange.

www.all-for-one.com/ir-english