48/2025・Trifork Group: Interim report for the three and nine months ending 30 September 2025

Core Insights - Trifork Group reported a Q3 revenue growth of 4.7% with improved profit margins, driven by significant contract wins and a focus on product and platform development [1][4][6] - The company secured an eight-year contract worth EUR 20 million with the Danish Health Data Authority, highlighting its capability in building secure national systems [2] - Trifork is leveraging AI to enhance operational efficiency and deliver value to clients, engaging in discussions with large organizations to unlock underutilized data [3] Financial Performance - In Q3 2025, Trifork Group's revenue reached EUR 49.3 million, a 4.7% increase from Q3 2024, entirely organic [6] - Adjusted EBITDA for Q3 2025 was EUR 7.4 million, resulting in a margin of 15.0%, up from 11.3% in Q3 2024 [6] - EBIT for Q3 2025 amounted to EUR 3.4 million, with a margin of 6.9%, compared to 2.4% in Q3 2024 [6] Segment Performance - The Trifork Segment's adjusted EBITDA was EUR 7.9 million in Q3 2025, with a margin of 16.0%, up from 12.3% in Q3 2024 [6] - Revenue from the Inspire sub-segment increased by 9.7% to EUR 0.9 million, while the Build sub-segment saw a decline of 2.7% to EUR 33.6 million [6] - The Run sub-segment experienced a revenue increase of 27.3% to EUR 14.8 million, with an adjusted EBITDA margin of 32.2% [6] Future Outlook - The financial outlook for full-year 2025 has been narrowed, with revenue expected between EUR 217.5 million and EUR 222.5 million, indicating total growth of 5.6% to 8.0% [5][13] - Organic revenue growth is anticipated in the range of 4.2% to 6.6% [13] - Adjusted EBITDA for the Trifork Segment is projected to be between EUR 32.0 million and EUR 34.5 million [13]