74software · EURONEXT:74SW
74software — Investor Presentation (January 2026)
80 slides from 74software's investor presentation, January 2026
Slide 1: Investor Deck January 2026
Investor Deck January 2026 74Software
Slide 2: Disclaimer
Disclaimer FORWARD LOOKING STATEMENT This presentation contains forecasts that may be subject to various risks and uncertainties concerning the Company’s future growth and profitability. The Company highlights that contract signatures, which represent investments for customers, are historically more
Slide 3: Agenda
Agenda 01 Who We Are 02 What We Do 03 FY 2024 Highlights & 2025 YTD Performance 04 Looking to 2025 and Beyond 05 Appendices
Slide 4: Who We Are
Who We Are 74Software
Slide 5: Birth of 74Software
Birth of 74So,ware 2001 2005 2011 2012 - 2017 2018 2020 2021 2023 Axway created to Axway becomes Axway spins Axway strengthens its offering SBS AI-based SBS stands SBS leads in Core structure key player in off and lists on portfolio through several becomes a SaaS banking out in digital Banking and O
Slide 6: Entering a New Era…
Entering a New Era… A LISTED CENTRAL ENTITY SERVING ITS ENTERPRISE SOFTWARE PORFOLIO COMPANIES LEVERAGING A PORTFOLIO OF RECOGNISED BRANDS AND LEADING PRODUCTS WITH ALWAYS THE SAME PURPOSE: To be an independent technology provider that sustainably grows enduring value, based upon trust, for our cust
Slide 7: With Solid Foundations
With Solid Foundations EURONEXT PARIS - MAIN EURONEXT ELIGIBILITY COMPARTMENT B INDICES Bloomberg : 74SW:PW CAC Technology SRD Reuters : 74SW.PA Euronext Tech Croissance PEA Market Capitalization Euronext PEA-PME 150 PEA-PME At 17/12/2025: c. €1163m Euronext Tech Leaders PARIS, FRANCE EURONEXT LISTI
Slide 8: Faithful to our Roots and Culture
Faithful to our Roots and Culture OUR OUR OUR EMPLOYEES CUSTOMERS SHAREHOLDERS Making our Group Delivering brilliant Building a predictable and the place to be customer experience profitable long-term project We invest in culture, leadership and We design our products and services We focus on sustai
Slide 9: Delivering More Together
Delivering More Together ENHANCED EQUITY STORY, EXPANDED STOCK COVERAGE STRONGER SHARED CORE FUNCTIONS, BETTER SERVICE & FINANCIAL STRENGTH TO THE BRANDS, LOWER COST STRONGER MARKET VISIBILITY & OPERATIONAL FIREPOWER OPPORTUNISTIC COMMERCIAL SYNERGIES DRIVING UPSELL & BROADER MARKET ACCESS ELEVATED
Slide 10: Historical Performance
Historical Performance Revenue Profit on (€m) Operating Activities (€m) 500 100 450 Revenue 90 Profit on Operating Activities 400 AXWAY 12M + SBS 4M à 80 350 AXWAY STANDALONE 70 Business Model Transition 300 60 250 50 200 40 150 30 100 20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2
Slide 11: Mergers and Acquisitions Strategy
Mergers and Acquisitions Strategy -APAK -Delta -SAB -Luminosity -Tieto FS UK -October -Fidor Solutions -Callatay & Wouters 11
Slide 12: Corporate Responsibility
Corporate Responsibility SOCIAL BUSINESS CONDUCT ENVIRONMENT CUSTOMERS & USERS § Invest constantly in our products § Define a carbon trajectory and and guarantee their relevance § Standardise business conduct implement Science-Based and performance § Promote employee well-being charters and practice
Slide 13: Capital Structure at 31/12/2025
Capital Structure at 31/12/2025 PASQUIER ODIN TREASURY MANAGERS PUBLIC FAMILY FAMILY SHARES SHARES 41.70% 11.07% 0.68% 1.19% 0.65% 43.15% 1.56% VOTING RIGHTS 41.41% 16.14% 0.55% 1.39% 0.80% 39.70% SHAREHOLDERS’ AGREEMENT 29,746,194 Shares outstanding 55.29% of shares outstanding / 60.30% of voting r
Slide 14: What We Do
What We Do 74Software
Slide 15: Capitalizing on our Recent Successes
Capitalizing on our Recent Successes TO BUILD A ROBUST SOFTWARE HOUSE WITH TRIED-AND-TESTED RECIPES PRODUCT PORTFOLIO INTEGRATION BANKING APP • Managed File Transfer (MFT) • Integrated Products • API Management (APIM) • Modular products • B2B Integration • Financing products • Specialised products •
Slide 16: Managed File Transfer
Managed File Transfer SECURE MANAGED FILE TRANSFER OPERATIONS Tightest Security Automate and meet SLAs Managed Cloud Services for MFT Scalable Hybrid Deployment Protect organizations from Use automated workflows to Spend less time managing a technical Deploy as a flexible subscription operations dis
Slide 17: B2B Integration
B2B Integration SECURE, API-ENABLED EDI IN THE CLOUD Better Responsiveness Global Compliance B2B Communications Fully Containerized Cut manual involvement Solutions for B2B and B2G Connect to all your partners Containerized deployments and shorten response times eInvoice compliance as well quickly a
Slide 18: Amplify API Management
Amplify API Management IT COMPLEXITY HAS MET ITS MATCH Open Platform Developer Independence Full Lifecycle Zero Duplication Discover, reuse, and govern Speed API and app development Manage the entire API lifecycle: Automatically detect new APIs across multiple gateways, by giving DevOps the freedom
Slide 19: Financial Accounting Hub
Financial Accounting Hub DIGITAL FINANCE TRANSFORMATION Accelerate accounts closing, ensure data accuracy, and comply with all regulations. Digital transformation, operational excellence, and accurate data for the entire company. Event Storage of Storage accounting entries Audit Trail Reconciliation
Slide 20: SBS Product Portfolio
SBS Product Portfolio From tried-and-tested core banking systems to payments, lending, and specialized financing solutions INTEGRATED BANKING PRODUCTS Proven core platforms – leaders in Francophone Africa, French mid-market and Benelux retail, delivering resilient full-service BANKING COMPONENTS Fra
Slide 21: Integrated Banking Products
Integrated Banking Products PROVEN CORE PLATFORMS · RELIABLE · SCALABLE · ENDORSED BY LEADING BANKS 220+ FUNCTIONAL OVERVIEW African banks entrust us with their data — over 70 % market share in Francophone Africa § End-to-end core banking for retail and commercial § Payments functionality with treas
Slide 22: Banking Components
Banking Components LENDING (CREDIT & RISK) · CARDS & PAYMENTS · RELIED ON BY TIER-1 BANKS FUNCTIONAL OVERVIEW 5 of 5 Of Tier 1 banks in France use SBS § Lending: lending solutions o Full coverage of the credit lifecycle (servicing to collection, through collateral and provisioning) o Configurable wo
Slide 23: Modular Banking Products
Modular Banking Products NEXT-GEN DIGITAL CORE · CLOUD-NATIVE · COMPOSABLE · DRIVING MODERNIZATION FUNCTIONAL OVERVIEW ~40% Of payments in France processed § Progressive transformation with modular adoption in accounts, lending, payments through SBS solutions and compliance § Native Digital Engageme
Slide 24: Financing Products
Financing Products ASSET FINANCE · SPECIALIZED SOLUTIONS · TRUSTED BY MARKET LEADERS FUNCTIONAL OVERVIEW $87B Financing transactions processed annually, including 4.6M vehicles § End-to-end digital lending covering credit, origination, servicing and collections § Automated processing of assets and l
Slide 25: 74Software Incubation Zone
74So,ware Incubation Zone REGULATORY REPORTING Public cloud SaaS solution for the new European IREF regulation. 230+ SaaS IREF sold (109 live across 57 banks). From Spark To Scale DIGITAL ENGAGEMENT PLATFORM Mobile-first SaaS platform for individuals and SMEs. 4 clients signed, 1 live as first adopt
Slide 26: FY 2024 Highlights & 2025 YTD Performance
03 FY 2024 Highlights & 2025 YTD Performance
Slide 27: FY 2024
FY 2024 74Software
Slide 28: A Strong Start Together!
A Strong Start Together! FY 2024 2024 proforma revenue of €690.0m with organic growth of 5.6% (AXW +3.4% / SBS proforma +7.8%) 2024 proforma profit on operating activities of €94.0m or 13.6% of revenue Axway at record-high NPS, excellent Employee Engagement, with its most profitable year, at the top
Slide 29: 2024 Key Figures
2024 Key Figures FY 2024 Proforma basis except if otherwise noted € 690 m Annual Revenue 56 + . % Organic Growth 13 .6 % Margin on Operating Activities § ARR Axway: €246m § ARR Growth Axway: 7.4% § Axway: 20.9% § ARR SBS: €225m § ARR Growth SBS: 11.8% § SBS: 6.9% 5.7% Unlevered FCF 2 .87 X Leverage
Slide 30: 2024 Proforma Income Statement
2024 Proforma Income Statement FY 2024 @5@R @5@R @5@T WDABAD"a =XCV$BAfKALiNaO(N C(lADO(N S@"$IFG$d$S@"$VeV S@"$IFG$d$R"$VeV Imnao$VOafNaLAf( !" #$AB$C(EF !" #$AB$C(EF !" #$AB$C(EF G,GI.$C/L/MN/ OP5F5 ROSFP TSPF5 !"#$A&C"(#(&"E&*+,+I.+ /012O 10124 542/ UC,VV$WC,X=G RR>F> O?F5# T@5F@ OPFT# @TSFA A@FO
Slide 31: Revenue Breakdown by Type
Revenue Breakdown by Type FY 2024 Reporting structure for revenues explained Product revenue 79% (vs. 79%) of total revenue Maintenance & Support Customer-managed Subscriptions Own-managed Subscriptions Licenses Services 28% (vs. 34%) 27% (vs. 22%) 17% (vs. 16%) 7% (vs. 8%) 21% (vs. 21%) Recurring r
Slide 32: Revenue Breakdown by Product and Region
Revenue Breakdown by Product and Region FY 2024 15% 5% Managed File Transfer 12% 42% 5% 28% 18% B2B Integration 12% API Management 30% Specialised Products 25% Titre du graphique 21% 22% 2023 12% 20% 14% 18% 25% Financing Products Modular Products 19% Integrated Products 2024 10% Banking Components
Slide 33: Margin on Operating Activities
Margin on Operating Activities FY 2024 77.3% 19.7% 65.0% 25.4% 17.4% 8.6% 13.6% of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. '500 '28 '449 '450 '420 '400 '350 '300 in €m '250 -'175 '200 '150 -'120 '100 '94 -'59 '50 '0 Services Gross Profit Research Research & & General & General & Profit
Slide 34: Margins on Operating Activities
Margins on Operating Activities FY 2024 '300 81.9% 2.8% 73.3% 18.6% 25.0% 8.9% 20.9% '250 71.3% 24.9% 57.2% 31.4% 10.5% 8.3% 6.9% of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. '250 '27 '207 '241 '1 '242 '200 '180 '200 '150 -'61 in €m
Slide 35: Cashflow
Cashflow FY 2024 IFRS consolidated basis (12m Axway + 4m SBS) – SBS generates most of its cashflow in first half of the year! Delta 2024 2024 2023 vs. 2023 12m Axway Reported in €m 4m SBS 12m Axway Axway + 4m SBS Axway Operating cashflow 31.7 -7.1 39.0 32.1 6.9 o/w change in NWC -37.1 -12.6 -24.5 -32.9
Slide 36: Balance Sheet
Balance Sheet FY 2024 IFRS consolidated 400 195 350 -19 300 195 4 292 250 in €m 200 128 150 100 92 50 32 41 17 -304 -9 0 Acquisition Debt Debt 31.12.2024 Cash 31.12.2023 Capital Increase Other Financing CF Other Investing CF Debt 31.12.2023 RCF Movement Operating CF Acquisition Debt Purchase SBS Cas
Slide 37: H1 2025
H1 2025 74Software
Slide 38: Sustained Momentum Reinforces Long-Term Objectives
Sustained Momentum Reinforces H1 2025 Long-Term Objectives H1 2025 revenue of €344.0m, up 6.5% organically (AXW +8.9% / SBS +5.0%) and 6.2% in total Marked improvement in margin on operating activities, up 585bps to 12.0% of revenue (€41.3m) Strong H1 commercial momentum across both Axway and SBS, u
Slide 39: H1 2025 Key Figures
H1 2025 Key Figures H1 2025 € 344 m Revenue 65 + . % Organic Growth 12 .0 % Margin on Operating Activities § ARR Axway: €256m § ARR Growth Axway: 11.8% § Axway: 16.6% § ARR SBS: €233m § ARR Growth SBS: 10.9% § SBS: 7.9% 22 .2 % Unlevered FCF 1 .83 X Leverage ratio € . 0 20 Earnings per Share § Befor
Slide 40: H1 2025 Income Statement
H1 2025 Income Statement H1 2025 aFGBDd(Fe$R5RP aFGBDd(Fe$R5RP aFGBDd(Fe$R5RA =eABAe"F C(NAeO(l @C$IfK$L$@C$XMX ImnFd$XOFolFGAo( !" #$AB$C(EF !" #$AB$C(EF !" #$AB$C(EF GHGI.$C/L/MN/ OPPF5 OROFS TPUFV !"#$A&C"(#(&"E&*+,+I.+ /0012O& /00420& /5526& WCHXX$=CH>?G RRUFT @@FO# R5@FS @OFS# T5PFV V5FA# ST+*$
Slide 41: H1 2025 Revenue Breakdown by Type
H1 2025 Revenue Breakdown by Type H1 2025 Product revenue at 81% of H1 2025 total revenue (vs. 77% H1 2024) Maintenance & Support Customer-managed Subscriptions Own-managed Subscriptions Licenses Services 27% (vs. 30%) 29% (vs. 24%) 20% (vs. 17%) 6% (vs. 6%) 19% (vs. 23%) Recurring revenue at 75% of
Slide 42: H1 2025 Revenue Breakdown by Product
H1 2025 Revenue Breakdown by Product H1 2025 17% 18% 23% 18% 19% 24% 40% 44% 17% 20% 9% 11% 21% 48% 48% 23% H1 24 H1 25 Managed File Transfer B2B Integration Financing Products Modular Products API Management Specialised Products Integrated Products Banking Components 42
Slide 43: H1 2025 Annual Recurring Revenue (ARR)
H1 2025 Annual Recurring Revenue (ARR) H1 2025 Strong ARR growth for both brands 270 270 11,8% 11,8% 12,0% 12,0% 260 260 10,9% 10,4% 10,4% 250 250 9,4% 10,0% 10,0% 240 8,4% 240 230 7,2% 7,4% 8,0% 230 8,0% 6,6% 220 220 6,0% 6,0% 210 210 200 4,0% 200 4,0% 190 190 2,0% 2,0% 180 180 170 0,0% 170 0,0% Q4
Slide 44: H1 2025 Margins on Operating Activities
H1 2025 Margins on Operating Activities H1 2025 Gross Profit Profit on Op. Activities 66.3% of Revenue 12.0% of Revenue 83.2% 7.0% 74.9% 20.3% 26.8% 11.3% 16.6% 71.6% 19.3% 58.4% 32.9% 10.7% 6.8% 7.9% of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of
Slide 45: H1 2025 Cashflow Statement
H1 2025 Cashflow Statement H1 2025 !"#$ABC(EAFG"GHIH.G /0A1N1F /0A1N1O !$".?HATUE":A !"#$% 4OF(5GE"6H FSF TUE": TUE":AFG".;"C(.H /0A1FAAe#CA/0A1O <=H6"G>.?A@"#$5C(E ABCD aFCA FaCB 0FCN cAaACA !"#$%&CDE*$+D$,-. //01 N30P N/05 N05 R$N708 !"#$!9&*:$!W*:C9+DE$%C<&=>!# 7P05 50P N?0N 8N0/ R$8/0@ d.eH#G>.?A
Slide 46: Accelerated Deleveraging in H1 2025
Accelerated Deleveraging in H1 2025 H1 2025 100 90 90 80 -5 -9 70 60 Net debt reduced by €58m in H1 2025 in €m 50 40 30 -42 20 16 -16 -1 10 0 Operating Cashflow Inv. CF Inv. CF Fin. CF Fin. CF FX and Other Net Change in Cash Capex Capitalized R&D Debt repayment Other 31/12/2024 30/06/2025 31/12/2024
Slide 47: 2025
03 2025 74Software
Slide 48: Q3 & 9M 2025 – Group Revenue
Q3 & 9M 2025 – Group Revenue Q3 2025 =>$;:G;?AB@GAGB>GBCABD);:9)?a)BQ;$Bb • Continued momentum =1B-R-S =1B-R-S e):$?B h;i$Ba(B in market demand and =1B-R-2 !"#$#% D;)9);c$ @Gd:$:Gb f;)#:g f;)#:g sales execution !"#$AB'()*G ,-./ 0,.1 02.O 2.2P ,.,P • Axway and SBS both 'Q'B'()*GB OR., ,0.2 ,/.0 1.,P
Slide 49: Quarterly Revenue – Axway
Quarterly Revenue – Axway Q3 2025 aA>"')"?D(b")>c$#C+(#d(Q)*)+A)(eD(=Df)(@(ABC>D aP(393T a3(393T a-(393T Mg(393T !"#$#% !"#$AB'(")*)+A) ,-./ LM.2 ,-.M 3P,.3 Q)BA""R+S(")*)+A) ,3.P LM.T ,P./ 3P-.9 !"#$%&C()*(&(+*$,$-.//!0) M2O2 M4O5 MMO5 RSOM !"#$8.U)!:*0;:&(&<*=$-.>U+0C/)C!( 2RO? 2RO4 2@O? MR4O? $$$
Slide 50: Quarterly Revenue – SBS
Quarterly Revenue – SBS Q3 2025 B%>"')"?C(A")>D$#a+(#b(Q)*)+%)(cC(=Cd)(@(;A; BL(2.2P B2(2.2P B<(2.2P Te(2.2P !"#$#% !"#$%B'(")*)+%) ,,-. /L-/ ,,-M 2.3-P Q)B%""R+S(")*)+%) P/-T PT-P PM-3 L/P-/ !"#$%&C()*(&(+*$,$-.//!0) M2O4 M5OR M5OS S8O5 !"#$U.:)!;*0<;&(&=*>$-.?:+0C/)C!( @OS 8OS 4OM 5ROA $$$$$$$$$$$
Slide 51: Looking to 2025 and Beyond
Looking to 2025 and Beyond 74Software
Slide 52: Disciplined Execution. Strategic Capital Allocation.
Disciplined Execution. Strategic Capital Allocation. DELIVERING CONSISTENT PROFITABLE GROWTH SHIFTING TO A PURE SOFTWARE MODEL § +1–3% growth, recurring and resilient § +3–5% growth, product-led, planned reduction § Margin >21%, consistently sustained in services contribution § Working capital impro
Slide 53: A Future of Dynamic Performance
A Future of Dynamic Performance Driven by both organic expansion and strategic acquisitions 2024 2025 2027 UPGRADED FY OUTLOOK Organic growth now ~4%, top of the initial range GUIDANCE GUIDANCE AMBITION AXW + 4 Months SBS 74Software 3 Years Plan ≈ € 460 m Ambition Revenue €461.9m Achieved ≈ € 700 m
Slide 54: Appendices
Appendices 74Software
Slide 55: FY 2024
FY 2024 74Software
Slide 56: Change in Revenue
Change in Revenue FY 2024 '800 '700 '19 '690 '210 -'1 '600 '500 '125 '7 '0 '462 Revenue in €m '400 '319 '11 '300 '200 '100 '0 Growth Axway Growth SBS (4m) IFRS cons. 2024 Growth SBS (8 m) Proforma 2024 Axway 2023 SBS 2023 (4m) Consolidation, FX SBS 2023 (8m) Consolidation, FX 56
Slide 57: Revenue Breakdown by Portfolio Company & by Type
Revenue Breakdown by Portfolio Company & by Type FY 2024 ,<,5(!"#A#"B? ,<,5(!"#A#"B? ,<,5(!"#A#"B? ,<,5(!"#A#"B?( !"#$#% CDa?F =c= d#+;#@S$?CS#+ 25=#ACa?") !"#$ABC(")*)+A) ,-./- ,L1/2 31/P( L55/1 R)BA""S+T(")*)+A) ,9./2 ,15/2 31/P( 5-P/9 !"#$%&C()*(&(+*$,$-.//!0) &'() *+,(* -.('# */)(' !"#$M.2)!O*04
Slide 58: Revenue Breakdown by Geography
Revenue Breakdown by Geography FY 2024 5O5/ 5O5< 5O5< FA@:? e-f:gT9$ B-A&A-": '(;@:@(> c-AD@d c-AD@d !" #$A&$'(E* G,-A.( /0M*2 2O*P# /OM*5 /0O*0 5*R# 5*0# !"#$%&'()F +,-.K 01.02 +,3.1 +,3.1 4+.K2 4+.K2 !"#$56 ,7.7 +7.82 31., 1U.3 +1.02 +8.82 S"(-T9:; 0RO*5 50*M# 0<2*< 0<2*< 0O*5# 0O*5# =T>>?($G:;@$A
Slide 59: Annual Recurring Revenue (ARR)
Annual Recurring Revenue (ARR) FY 2024 Strong ARR growth for both companies Axway SBS '300 +7.4% '300 +11.8% '284 '250 '40 '246 '250 '17 '225 '215 '200 -'79 '200 -'7 in €m in €m '150 '150 '100 '100 '50 '50 - - Recurring Upfront New business, ARR Recurring Upfront New business, ARR Revenue Subscripti
Slide 60: Margin Analysis
Margin Analysis FY 2024 @T@W @T@= /PABAP", /PABAP", Nn,0e( V@"$ilm$X$V@"$DGD V@"$ilm$X$V@"$DGD !" #$AB$C(EF !" #$AB$C(EF !" G,I.I$/A.01I !"#$%&'(")*)+%) ,--./ 01.12 ,/0.- 03.-2 P(56.0 S(,1 8)"*9&):(")*)+%) /-6.; 5/.52 /<-./ 5;.62 P(//.3 P(,1 NA1,O$P(E(05( RSTFT R9VFW X$=>FR NA1,O$?AI1I$AB$P(E(05( @W
Slide 61: Margin Analysis – Portfolio Companies
Margin Analysis – Portfolio Companies FY 2024 S;SR S;SD C(FAP1(n No,0c( idl,m idl,m !" #$AB$C(EF !" #$AB$C(EF !" G,I.I$/A.01I !"#$%&'(")*)+%) ,-./- 0-/12 ,0,/3 00/P2 5(11/P 5(61 S)"*8&)9(")*)+%) .P/0 1:/-2 .6/P 11/32 ;(:/< ;(P0 NA1,O$P(E(05( RSTF9 RVTF; <$V;F9 NA1,O$=AI1I$AB$P(E(05( 99F; 9>FS <$;F9
Slide 62: Margin Analysis – Portfolio Companies
Margin Analysis – Portfolio Companies FY 2024 T9T@ T9TR /PABAP", /PABAP", Nm,0e( >Tl$CGC >Tl$CGC !" #$AB$C(EF !" #$AB$C(EF !" G,I.I$/A.0MI !"#$%&'(")*)+%) ,-./0 12/-3 ,P1/5 06/S3 8(.-/5 9(.,5 :)"*;&)<(")*)+%) ..6/, P6/-3 20/- ,2/,3 8(.,/0 8(.,5 NAM,O$P(E(05( RSTF9 RRRFV ;$T<F9 NAM,O$=AIMI$AB$P(E(05(
Slide 63: Balance Sheet
Balance Sheet FY 2024 !"!O$ !"!O$ !"!#$A&CD$ !"!#$A&CD$ CNPF5MN/$ EVL+;N CNPF5MN/$ EVL+;N EF+,FI./LMN/ EF+,FI./LMN/ RSTL9 RSTL9 !"#$A !"#$A &CCD)"FG#,-C-!./01-G 2O456 7T95: ;#77656 </G=#>#C/G=#-?)!./1-"FG @A75A# @7B5T# @#2A5T CF=-,#C),,-"F#/GG-FG 7:75O 4254 ;#BO5B D!"/"C!/1#a-0F 2O759 O254 ;#7OO56 &
Slide 64: H1 2025
H1 2025 74Software
Slide 65: H1 2025 Change in Revenue
H1 2025 Change in Revenue H1 2025 400 +8.9% +5.0% +6.5% 350 9 344 12 175 0 324 -1 300 250 Revenue in €m 200 150 149 100 50 0 Axway H1 2024 SBS H1 2024 Consolidation Proforma H1 2024 Growth Axway Growth SBS Consolidation, FX H1 2025 65
Slide 66: H1 2025 Revenue Breakdown by Portfolio Brand & by Type
H1 2025 Revenue Breakdown by Portfolio Brand & by Type H1 2025 FH(2L2- FH(2L2- ?#'@A( J"9@GT&( FH(2L21 !"#$#% S)c#"')$ S)<'@')$ d"#D'e d"#D'e !"#$A&'(")*)GA) H-./. H.L/1 H2O/P O/5R HL/1R S)&A""TG9(")*)GA) H-H/: H2P/O H2P/H HL/PR HH/-R !"#$%&C()*(&(+*$,$-.//!0) M2OM 45O6 45O4 SM8O49 SM:O69 !"#$;.<)!=
Slide 67: H1 2025 Revenue Breakdown by Geography
H1 2025 Revenue Breakdown by Geography H1 2025 F2$/0/P F2$/0/R F2$/0/R cA@:? f-g:hT9$ C-A&A-": '(;@:@(> d-Aa@e d-Aa@e !" #$A&$'(E* GH-A.( /0M*2 O0*P# /05*0 /05*/ /*P# /*R# !"#$%&'()F ++,- .K,+0 ++,1 ++,1 23,.0 23,.0 !"#$45 67,1 8U,70 66,K 6-,3 6,U0 U,10 S"(-T9:; <5*5 /2*5# OP*O OR*O 22*<# 25*P# =T>>
Slide 68: H1 2025 Margin on Operating Activities
H1 2025 Margin on Operating Activities H1 2025 77.8% of Rev. 15.9% of Rev. 66.3% of Rev. 27.1% of Rev. 18.3% of Rev. 8.9% of Rev. 12.0% of Rev. 250 10 228 218 200 150 in €m - 93 100 - 63 50 41 - 31 0 Product Services Gross Research & Sales & General & Profit on Gross Profit Gross Profit Profit Devel
Slide 69: H1 2025 Margin Analysis – 74Software
H1 2025 Margin Analysis – 74SoNware H1 2025 l<$9T9S l<$9T9> NmH0e( /PABAP"H !" #$AB$C(EF !" #$AB$C(EF !" GHI.I$/A.01I !"#$%&'(")*)+%) ,-./. -0/12 ,1-/3 3P/-2 5(60/6 5(1P0 S)"*8&)9(")*)+%) P1/. 0-/P2 3:/, ,6/,2 ;(00/, ;(1P0 NA1HO$P(E(05( RSSFT R9RFV ;$9TF< NA1HO$=AI1I$AB$P(E(05( <<>FV <<?F< @$<F9 ACB
Slide 70: H1 2025 Margin Analysis – Portfolio Brands
H1 2025 Margin Analysis – Portfolio Brands H1 2025 lR$=T=V lR$=T=F C(dAP1(o NpH0e( ifmHn ifmHn !" #$AB$C(EF !" #$AB$C(EF !" GHI.I$/A.01I !"#$%&'(")*)+%) ,-./. 01/,2 ,.3/P 05/02 6(,S/0 6(,.- 8)"*9&):(")*)+%) ,5/P ,3/12 ,0/S ,S/S2 ;(3/5 ;(,.- NA1HO$P(E(05( RSTF9 RV9F; <$R=FR NA1HO$>AI1I$AB$P(E(05( VTF
Slide 71: H1 2025 Margin Analysis – Portfolio Brands
H1 2025 Margin Analysis – Portfolio Brands H1 2025 lR$9F9T lR$9F9; /PABAP"H NmH0H( CGC CGC !" #$AB$C(EF !" #$AB$C(EF !" GHI.I$/A.01I !"#$%&'(")*)+%) ,-./. .0/12 ,,1/3 P./52 6(,S/5 6(.3S 8)"*9&):(")*)+%) 0P/5 35/32 5./; -3/52 <(,;/5 <(.3S NA1HO$P(E(05( RSTF9 RV;F9 <$SF= NA1HO$>AI1I$AB$P(E(05( V?F? V@
Slide 72: H1 2025 Balance Sheet
H1 2025 Balance Sheet H1 2025 !"#$A$&# D5#$A$R !"#$A$&# D5#$A$R CDEF# CDEF# +SNITP CDEF# CDEF# +SNITP +HI.H/LMNOPM +HI.H/LMNOPM +HI.H/LMNOPM +HI.H/LMNOPM !"#$A !"#$A &CCD)"FG#,-C-!./01-G 2O456 27T59 :#O45; </G=#>#C/G=#-?)!./1-"FG :965;# :O@5O# :#@45O AF=-,#C),,-"F#/GG-FG @2T5T @B@57 C#2@5O D!"/"C!/1
Slide 73: Headcount
Headcount H1 2025 T.+9:;<H= !"#"$#A"A& !C#CA#A"A( )*+H-. !"#$A& '(EE* '(E+E ,-+ ./�M23 'PE 'P- ,- .302(,(52M060M -7+ --8 ,*' 90::;&(!23<(,(.6#0M2 ='+ ='P 8 /L/12 (O$45 (O464 7C"6 73
Slide 74: Leadership
Leadership 74Software
Slide 75: Gouvernance
Gouvernance 11 Members 4 Nationalities 40% Women 8 Meetings 97% Attendance 75
Slide 76: Executive Committee
Executive Committee PATRICK DONOVAN ERIC BIERRY ROLAND ROYER TOBIAS UNGER JULIA SIEPMANN Chief Executive Officer Deputy CEO CEO of Axway Chief Financial Officer Chief Human Resources Officer United States - France CEO of SBS France Switzerland United Kingdom France 9 members XAVIER REBEUF PAUL FRENC
Slide 77: Glossary and Alternative Performance Measure
Glossary and Alternative Performance Measure § Axway ARR: Annual Recurring Revenue – Expected annual billing amounts from all active maintenance and subscription agreements. § SBS ARR: Annual Recurring Revenue – Monthly recurring revenue (MRR) for the last month of the reporting period multiplied by
Slide 78: Notes
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Slide 79: Notes
74Software Hl
Slide 80: 74Software
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