Switzerland's ALSO Holding H1 net profit rises on AI demand
Switzerland's ALSO Holding H1 net profit rises on AI demand
Overview
Switzerland ICT distributor's H1 2026 revenue rose 21% yr/yr to 8.3 bln EUR
Net profit for H1 2026 up 61% to 69 mln EUR, driven by demand for high-performance tech
EBITDA climbed 29% as cloud and operational efficiency boosted margins
Outlook
ALSO confirms 2026 EBITDA guidance of 300 mln to 340 mln euros
Company expects 2026 ROCE above 20%
Visibility for H2 remains limited due to geopolitical and demand uncertainties
Result Drivers
HIGH-PERFORMANCE TECH DEMAND - Co said revenue growth was driven by rising demand for computing capacity, data volumes and AI technologies
CLOUD BUSINESS GROWTH - Cloud revenue rose 31%, supported by more unique users and higher monetisation per user
OPERATIONAL EFFICIENCY - Productivity improvements, logistics optimisation and efficiency initiatives supported EBITDA growth and margin improvement
Company press release: ID:nEQ50Y7nfa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Sales |
| EUR 8.30 bln |
|
H1 Net Income |
| EUR 69 mln |
|
H1 EBITDA |
| EUR 162 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the computer hardware peer group is "buy"
Wall Street's median 12-month price target for Also Holding AG is CHF221.50, about 7.8% above its July 20 closing price of CHF205.50
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 11 three months ago
Reuters Recommended Reads
July 20 - Switzerland's Belimo H1 revenue rises on data center demand
July 20 - Could AI chip boom make ASML Europe's first trillion-dollar firm?
July 21 - Switzerland's Schindler H1 EBIT margin rises; reaffirms outlook
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)