Conscia reports record earnings in 2024/25 driven by strong growth in cybersecurity, service revenue and acquisitions

In the financial year 2024/25, we grew our Service business segment by 42% from 1,122 mDKK to 1,592 mDKK, with managed services increasing by 95% to a new all-time high. Services now account for a clear majority of our commercial activity. These results are fully aligned with Conscia’s strategic priority to strengthen our cybersecurity offering and scale managed services to build Europe’s leading secure digital infrastructure partner.

Group revenue for the year amounted to 5,701 mDKK, up 25% from the previous year, with net revenue (group revenue excluding pass-through costs within hardware and software sales and software subscriptions) increasing by 34%. This was driven by strong sales execution and commercial momentum across the Group. While performance was particularly strong in the Service segment, the Solution segment also contributed with solid growth of 19%.

Our normalised EBITDA reached 718 mDKK, up 41% compared to last year. The underlying business was very strong, and we now see clear results from our strategic shift to a more service-oriented business model.

The normalised EBITDA margin was a satisfactory 13% when measured against total Group revenue and reached an all-time high of 25% when measured on net revenue basis.

M&A to build a European leader

During the year, we took major steps to strengthen our European leadership, adding scale, local presence and expert capabilities. Early in the year, Conscia acquired Kanari Group in Norway, a specialist in observability and performance monitoring. This was followed by the acquisition of PlanNet21 in Ireland, strengthening Conscia’s presence across both Ireland and the UK. Both companies have already been fully integrated.

In the Netherlands, the acquisition of Open Line, a leader in Managed Cloud services, created a powerhouse for mission-critical cloud delivery when combined with Conscia Netherlands. In the Benelux region, we also entered the Belgian market with the acquisition of Silta, and we expanded in the United Kingdom through the acquisition of ISN. Most recently, on 1 October 2025, Conscia completed the acquisition of Danish cybersecurity specialist Dubex, further strengthening our European leadership in cybersecurity.

“It has been a transformative year for Conscia,” says Erik Bertman, Group CEO of Conscia. “Our strategic shift towards cybersecurity and managed services is now firmly established, and we have substantially expanded our geographical footprint. We are growing our recurring revenue base, delivering sustained EBITDA improvement, and securing progress for our customers by solving their increasingly complex digital infrastructure challenges across Europe. This is what it means to build a European leader.”

With material organic growth and acquisitions, we welcomed many new colleagues and continued to build Conscia as a great place to work. Through our Network of Knowledge, our customers in every country now benefit from the deep expertise of more than 1,700 employees across the Group in cybersecurity, networking, sovereign cloud, public cloud and observability.

Our Net Promoter Scores from customers and employees were both 66, placing us in the top 10% of our industry, and giving us confidence that we remain a trusted and relevant partner and employer in the years to come.

We have also repositioned our brand to reflect our mission and strategy across all markets. A brand built on trust and to secure progress for our customers and society as a whole where digital infrastructure plays an increasingly important role. “We have created real momentum in the business – commercially, in operations, and culturally,” adds Erik Bertman. “We are proud of what we have achieved together this year, and we look forward to continuing to establish Conscia as Europe’s leading secure digital infrastructure partner combining cybersecurity and managed services.”

Outlook 2025/26

Conscia has entered the 2025/26 financial year well-positioned in attractive and resilient markets, supported by several structural growth drivers. These include heightened cybersecurity demands, the ongoing transition to hyper-converged infrastructure and software-defined networking, accelerated cloud adoption, and increased awareness of the financial impact of network disruptions. For 2025/26, Conscia expects to achieve normalised EBITDA growth of 50–55% compared to 2024/25. The full year impact of the acquisitions during 2024/25 will be a material part of this growth, in addition to the expectation for material organic growth.