Q2 2026 Trifork Group AG Earnings Call Transcript
Key Points
- Returned to double-digit organic growth, with an underlying 23% organic growth in the Products segment.
- Products now generate more than half of the group's EBITDA, with a 21% EBITDA margin in Q2.
- Strong momentum in public sector, particularly in Denmark, with a high win rate on bids.
- Successful execution of the Verdane partnership, realizing a EUR 23 million gain and proposing a DKK 3 dividend.
- Increasing enterprise AI adoption, with 90% of customers now allowing AI use, and new contracts like Nykredit and Kamstrup extension.
- Organic growth is still modest, and the company is still exiting unwanted business areas, which may weigh on growth.
- Services segment margins are under pressure due to deliberate investment in senior consultants and business development.
- North America (especially the U.S.) continues to show negative growth, with a shift in focus to Canada.
- Capital expenditure increased due to data center expansion, though tied to customer contracts, it may strain cash flow.
- M&A activity is limited due to high risk of acquiring struggling companies, so growth relies more on organic efforts.
Thank you, everyone. Thank you, Frederik. So I'm actually very happy about what we announced this morning, and we are looking forward to take you through the highlights of our Q2 and also what we can say about the near future. So first of all, we are back into double-digit organic growth. It's still a modest double-digit organic growth. I believe we can do better.
And if you remember what I've been saying in the past quarters about that we have an underlying growth of things we want to focus on. But because of the large changes and disruptions globally, there are also things that we have abandoned doing business in.
And as you can see and have followed over the past quarters, we have maintained growth and we believe that once we are finished removing the parts that we don't want to continue doing business on, then we will see higher organic growth because at this point in time, I see a lot of market opportunities for Trifork in public, public in Denmark, in Canada, in Spain, in Switzerland, some
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