Sword Group: 21.7 Months of Order Book, but a Major Strategic Shift
Sword Group validates its 2025 performance and confirms sustained growth momentum. With a revenue of €357.7 million and an EBITDA margin of 12%, the group demonstrates solid fundamentals, bolstered by an impressive 21.7-month order book. However, this visibility comes with a major strategic turn: following the divestiture of Tipik, Sword must now demonstrate its ability to maintain its 12% growth trajectory in 2026 through new external operations, while accelerating its digital transformation around artificial intelligence.
Financial Performance in 2025
As of December 31, 2025, Sword Group recorded a consolidated revenue of €357.7 million, supported by an organic growth of 12.3% at constant scope and exchange rates. This progress is accompanied by stable consolidated profitability, with an EBITDA margin maintained at 12%, representing €42.9 million. These figures reflect the group's ability to accelerate its core business while preserving its margins, a balance that is often challenging in the IT services sector where price pressures are recurrent.
The Strength of the Order Book
Sword's real asset lies in its exceptionally extensive order book, covering 21.7 months of activity based on the 2026 targets. This visibility is generally seen as a factor of stability and predictability for investors. It allows the group to project its revenues with high confidence. However, this strong position comes with an implicit question: will this visibility be enough to sustain growth after integrating the divestiture of Tipik? Indeed, having sold this strategic entity, the group now needs to identify new acquisition targets to prevent the backlog from naturally eroding without new growth drivers.
Ambitions for 2026
For 2026, Sword has a clear ambition: to maintain an organic growth of 12%. This trajectory can be achieved through new acquisitions, which the group plans to prioritize in its strategic priorities. The annual meeting this Thursday, March 12 in Paris, therefore takes on crucial importance: the group will present its 2028 strategic plan, with artificial intelligence as a key pillar. This shift towards AI is intended to open new prospects for the group and strengthen its value proposition to clients. A dividend of €2 per share will be proposed at the general meeting on April 28, 2026, signaling continued confidence in cash generation. A major challenge: Sword will need to demonstrate that the AI transformation does not dilute its margins and effectively contributes to the announced growth.
