ALSO Holding AG

ALSN

Equity

ISIN CH0024590272 / Valor 2459027

SIX Swiss Exchange (2026-05-28)

CHF 178.00+1.02%

ALSO Holding AG
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About company

ALSO Holding AG is a prominent technology provider for the Information and Communication Technology (ICT) industry. Established and headquartered in Emmen, Switzerland, the company operates a business model that integrates logistics, financial services, and supply services across the ICT sector. ALSO's business strategy, introduced in 2011 and dubbed "MORE," focuses on sustainable profitable growth, maintaining a solid capital structure, and enhancing profitability. This strategy encompasses securing the company's achievements, expanding its ecosystem, and maintaining a dominant position in developed markets. ALSO serves a wide range of customers and vendors, leveraging its extensive network to distribute ICT products and solutions effectively.

Summarized from source with an LLMView SourceSector: Technology

Revenue and gross profit

Net sales before PvA rose to €15,243.9m in 2025 (from €10,963.2m in 2024). Gross profit increased to €898.6m, representing 7.6% of net sales before PvA.

EBITDA, EBIT and margins

EBITDA was €286.1m (EBIT €211.7m). EBITDA represented 31.8% of gross profit. Management states EBITDA objectives were met and operational levers (MORE/WIN, platforms, efficiency measures) drove the result.

Net profit and EPS

Net profit Group amounted to €109.6m (2025) and earnings per share were CHF 8.10. Net profit as a percentage of net sales before PvA was 0.9%.

Balance sheet and cash

Total assets were €5,202.8m and equity €1,264.1m (equity ratio 24.3%). Cash and cash equivalents stood at €829.9m. The company reports net financial debt/EBITDA of –0.51, reflecting a net‑cash position and a strengthened financial structure (including a borrower’s note loan).

Dividend, share and capital markets

The Board will propose a dividend of CHF 5.30 per share for 2025 (proposal to AGM on 18 March 2026), the 14th consecutive increase. ALSO’s share closed at CHF 215.00 on 31 Dec 2025 (≈ –4% vs 2024); market cap ~CHF 2,762.5m.

Guidance and medium‑term targets

For 2026 ALSO guides EBITDA of €300–340m and ROCE >20%. Medium‑term targets (taking acquisitions into account) remain EBITDA €425–525m and ROCE >25%.

Strategy and operational initiatives

Management highlights continued focus on platform growth (ALSO Cloud Marketplace and “as‑a‑service” offers), harmonisation/migration to SAP S/4, increased AI usage to boost efficiency, strict working capital discipline and targeted acquisition integration (aiming for positive cashflow within 24 months).

Capital allocation and risks

ALSO emphasises capital discipline and cashflow stability as central priorities; equity ratio declined versus prior year due to balance sheet growth, but liquidity and working‑capital controls are presented as mitigants against cyclical volatility in the IT market.

Summarized from source with an LLMView Source

Key figures

-31.9%1Y

-5.02%3Y

-33.3%5Y

Performance

47.8%1Y

35.8%3Y

33.4%5Y

Volatility