Gigas Hosting Sa · BME:GIGA
Gigas Hosting Sa — H1 2026 Earnings Presentation
20 slides from Gigas Hosting Sa's earnings presentation, Oct 21, 2026
Slide 1: Presentación Resultados Primer Semestre 2026 Gigas Hosting, S.A.
OTRA INFORMACIÓN RELEVANTE PRESENTACIÓN RESULTADOS PRIMER SEMESTRE 2026 GIGAS HOSTING, S.A. 21 de octubre de 2026 En cumplimiento con lo dispuesto en el artículo 17 del Reglamento (UE) nº 596/2014 sobre abuso de mercado y en el artículo 227 de la Ley 6/2023, de 17 de marzo, de los Mercados de Valore
Slide 2: Investors Presentation H1 2026 Results
Investors Presentation H1 2026 Results 21st October 2026
Slide 3: Main highlights H1 2026
Main highlights H1 2026 Recurring revenues held at €34.9M (€34.8M in H1 2025). The decline from €37.1M reflects only the absence of non- recurring services and grants Transformation in execution: after renewing leadership and portfolio in 2025, H1 2026 delivered on three levers: higher- value own pr
Slide 4: Transformation process
Transformation process A half-year of executing the transformation In 2025 we renewed our leadership, redefined our portfolio and adjusted our operating structure to grow in the highest-value segments H1 2026 put that strategy into execution through three levers: Higher-value own products: new sol
Slide 5: The market opportunity
The market opportunity From perception to real adoption in Spanish SMEs Gigas Barometer 2026 with Ipsos, based on 1,300 interviews with technology and business leaders: • 79% of SMEs see themselves as digitalized, but only 9% show solid adoption of cloud, AI and cybersecurity • 52% still keep their
Slide 6: Higher-value own products
Higher-value own products New solutions in the three areas of fastest-growing enterprise demand 1. Managed Cybersecurity: g-Cyberprotect consolidated commercially • Cybersecurity training platform added (Feb) • ENS High certification (Feb), aligned with NIS2 and DORA 2. Artificial Intelligence: own
Slide 7: Indirect channel and own technology
Indirect channel and own technology Indirect channel: a new Partner Program Milestones Partners act as resellers or agents and manage clients, offers and services on • H1 2026: Partner Program designed their own from a Partner Portal. Two profiles: • H1 2026: Gyper migration under way • ICT Channel:
Slide 8: Competitive advantage
Competitive advantage We compete on mission-critical solutions, not on price • Own technology: we control and evolve our virtualization platform (Gyper) and operate 9 datacenters in Iberia, Latin America and the US, serving more than 4,500 corporate clients • Integrating AI into our business process
Slide 9: H1 2026 P&L highlights
H1 2026 P&L highlights €M H1 26A H1 25A Revenue 34.9 37.1 Recurring revenue: 100% Cloud 10 10 Telco 24.9 26.7 €34.9M, stable vs €34.8M Grants – 0.5 in H1'25 Direct costs (16.2) (16.1) Direct margin 18.7 21.0 Direct margin % 53.6% 56.6% Personnel costs (7.0) (7.1) Operating profit turns Corporate cos
Slide 10: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA fell to €5.7M due to lower one offs, but underlying recurrent business stays flat Adjusted EBITDA, H1 2025 and H1 2026 EBITDA change vs H1'25: out of which non recurring revenue €9,4M and revenues related to –€2.3M corporate M&A customer fell €8,1M €2.2M, while costs
Slide 11: Adjusted EBITDA bridge, H1-25 to H1-26
Adjusted EBITDA bridge, H1-25 to H1-26 Adjusted EBITDA fell to €5.7M due to lower one offs, but underlying recurrent business remains stable +3.7 9.4 Stable recurring core 8.1 −1.3 −1.1 5.7 −0.1 +0.1 5.7 Amounts in €M H1 2025 One-off Lost client * H1 2025 Core margin Opex H1 2026 OnMóvil H1 2026 inc
Slide 12: CAPEX
CAPEX CAPEX of €5.2M, 85% invested in growth, fully covered by operating cash flow CAPEX (€M) and CAPEX as % of revenue Growth CAPEX (€3.7M in H1'25): Gyper, Biblion, Datum, g- €4.4M Cyberprotect and Telco growth in Portugal % Revenues +11.5% +14.9% Maintenance CAPEX (€0.7M in €5,2M €0.8M H1'25): re
Slide 13: Balance sheet Jun/2026
Balance sheet Jun/2026 Structural Balance asset clean-up: €11.4M of intangibles replaced by €15.5M of financial consideration –19% ASSETS (€k) 30.06.2026 31.12.2025 EQUITY AND LIABILITIES (€k) 30.06.2026 31.12.2025 NON-CURRENT ASSETS 110,108 120,277 EQUITY 31,000 32,116 Net bank debt down to Intangi
Slide 14: H1-2026: From EBITDA to Free Cash Flow
H1-2026: From EBITDA to Free Cash Flow €7.7M Operating Cash Flow became €9.2M Free Cash Flow in H1 2026 Free Cash Flow bridge, H1 2026 (€M) +6.7 9.2 +2.8 7.7 −5.2 5.7 −0.8 Adj. EBITDA Restructuring Change in WC Operating Cash Capex M&A & Other* Free Cash Flow costs & Other Flow *Includes €7.5M proce
Slide 15: Debt & cash evolution
Debt & cash evolution 4.2M€ syndicate loan amortized Jun25 to Jun26 (with a further 3.75M€ amortized in July26) Leverage down to 1.97x adj. EBITDA as net financial debt falls 19% to €26.5M Net financial debt / adj. EBITDA (LTM) Debt and cash position Debt (€M) H1-26 YE-25 Var% -0.7x R&D and Bank Deb
Slide 16: Strong Cash Generation
Strong Cash Generation The business generated €7.7M Operating Cash Flow in H1 2026, 43% above H1 2025…. ….and €9.2M Free Cash Flow (€1.7M excluding the OnMóvil proceeds, +€4.9M vs H1 2025) Operating Cash Flow (€M) Free Cash Flow bridge (€M) Investing cash flow from (8.6) to +1.5 with the OnMóvil sal
Slide 17: Corporate Events
Corporate Events: Gaining sharper focus and a healthier balance sheet Sale of OnMóvil Sale of Ignitar Syndicated loan novation June 26, 2026 July 31, 2026 July 28, 2026 • Non-core, no cloud synergies; • Non-core asset that drew • Extended Maturity to 2031 • Sold 100% at attractive resources and focu
Slide 18: Conclusion and outlook
Conclusion and outlook Since June 30: the roadmap keeps delivering • September: Partner Program, Datum and cloud-to-cloud Disaster Recovery launched • Gyper migration in its final phase, substantially reducing our exposure to VMware licensing H2 2026 priorities Impact expected from H2 2026, stronger
Slide 19: 2026 End of year guidance
2026 End of year guidance New perimeter after the OnMóvil sale: the April 2026 guidance no longer applies • Net revenues €64–67M for 2026 • Adjusted EBITDA €11–13M Cost optimization initiative in Q4 to improve the 2027 operating margin, alongside the traction of cloud products • EBITDA growth of 10–
Slide 20: Thank you
Thank you [email protected] [email protected]