10 Segment reporting
As disclosed in the Annual Report 2025, following the acquisition of Crayon at the beginning of July 2025, operating segments were reassessed in the second half of 2025. Given Crayon’s significant presence in the Nordics and the CEE, the former rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE.
For management purposes, SoftwareOne is organized by geographical areas, with seven operating segments:
- DACH (Germany, Austria and Switzerland)
- WEMEA (Western Europe, including Middle East and Africa)
- Nordics (Northern Europe)
- CEE (Central and Eastern Europe)
- NORAM (USA, Canada)
- LATAM (Latin America)
- APAC (Asia Pacific)
No operating segments have been aggregated to reportable segments.
The Co-CEO’s are the Chief Operating Decision Makers (CODM). They assess each of the reported segments separately for the purpose of evaluating performance and allocating resources. Revenue and adjusted EBITDA are the key performance indicators used by SoftwareOne for internal management and monitoring purposes. The group allocates revenue and expenses to regions based on the end customer’s headquarter domicile since the region is responsible for the global client relationship. There are no intersegment revenues. Different average exchange rates are used in management reporting than for group consolidation purposes.
The segment reporting presents revenue, third party service delivery costs, personnel expenses, other operating expenses net (after operating income) and EBITDA. The group’s financing (including finance income and finance expenses) and income taxes are managed on a group basis and are not allocated to the reportable segments.
The segment totals are reconciled to the figures reported in the interim condensed consolidated income statement (“Total” column) as follows:
- “Group” includes the group cost centers and shared services costs.
- “FX & Consolidation” eliminates the effect of using differing average foreign exchange rates in the segment reporting and consolidation effects.
- “Other” includes other reconciling items that are not allocated to the segments and group in internal reporting. They consist of costs affecting comparability in operating expenses such as Crayon integration and transaction costs, other integration costs as well as M&A and earn-out expenses, and non-recurring items related to the restructuring of the LATAM region. The comparative period includes other non-recurring items which mainly relate to income from the release of provisions and restructuring expenses associated with SoftwareOne's cost reduction program. Additionally, the column “Other” includes an adjustment for differences in accounting policies of IFRS 16 that are not reflected in the segments, an adjustment for the upfront recognition of multi-year licensing contracts in which the end customer has the right to change the software reseller during the contract term, and, to a limited extent, minor reconciliation items.
- "Removal Crayon H1" eliminates the income statement of Crayon group for the comparative period, comparable with pro-forma presentation.
For the six months ended June 30, 2026
in CHF million | DACH | WEMEA | Nordics | CEE | NORAM | LATAM | APAC | Total segments | Group | FX & Consoli- dation | Other | Total |
Revenue | 180.4 | 169.9 | 133.5 | 42.2 | 92.6 | 49.3 | 151.0 | 818.9 | 6.3 | 0.1 | –7.0 | 818.3 |
Third-party service delivery costs | –4.0 | –5.4 | –2.5 | –5.0 | –2.6 | –3.5 | –15.5 | –38.5 | –0.5 | 0.1 | 0.1 | –38.8 |
Personnel expenses | –77.7 | –78.2 | –67.8 | –20.0 | –52.2 | –28.1 | –61.7 | –385.7 | –91.9 | - | –14.8 | –492.4 |
Operating expenses, net (after operating income) | –22.3 | –25.4 | –11.5 | –8.1 | –16.2 | –13.3 | –18.6 | –115.4 | 2.1 | –0.3 | 11.9 | –101.7 |
EBITDA1) | 76.4 | 60.9 | 51.7 | 9.1 | 21.6 | 4.4 | 55.2 | 279.3 | –84.0 | –0.1 | –9.8 | 185.4 |
1)EBITDA from segment reporting reconciled to earnings before net financial items, taxes, depreciation and amortization.
The most relevant reconciliation items in the “Other” column were related to adjustments for items affecting comparability in operating expenses and further accounting-related adjustments:
in CHF million | Integration, M&A and earn-out costs | Crayon transaction costs | Crayon integration costs | Other non-recurring items2) | IFRS 16 leases | IFRS 15 upfront revenue recognition | Remaining | Total Other |
Revenue | - | - | - | - | - | –5.0 | –2.0 | –7.0 |
Third-party service delivery costs | - | - | - | - | - | - | 0.1 | 0.1 |
Personnel expenses | –1.4 | - | –13.0 | –0.2 | - | 0.2 | –0.4 | –14.8 |
Operating expenses, net (after operating income) | –0.2 | 0.7 | –3.9 | –0.5 | 14.4 | - | 1.4 | 11.9 |
EBITDA1) | –1.6 | 0.7 | –16.9 | –0.7 | 14.4 | –4.8 | –0.9 | –9.8 |
1)EBITDA from segment reporting reconciled to earnings before net financial items, taxes, depreciation and amortization.
2)Other non-recurring items include costs for LATAM restructuring of CHF 0.7 million.
For the six months ended June 30, 2025
in CHF million | DACH | WEMEA2)3) | Nordics2) | CEE2) | NORAM | LATAM | APAC3) | Total segments | Removal Crayon H1 | Group | FX & Consoli- dation | Other | Total |
Revenue | 172.5 | 157.6 | 106.6 | 37.7 | 92.7 | 46.0 | 131.2 | 744.3 | –270.5 | 15.1 | –0.7 | –1.6 | 486.6 |
Third-party service delivery costs | –3.8 | –7.4 | –2.4 | –3 | –2.9 | –2.6 | –9.3 | –31.4 | 10.0 | –0.1 | 0.7 | 0.6 | –20.2 |
Personnel expenses | –88.0 | –92.9 | –64.4 | –18.3 | –60.0 | –32.5 | –69.9 | –426.0 | 189.8 | –47.5 | –2.7 | –21.2 | –307.6 |
Operating expenses, net (after operating income) | –12.3 | –7.3 | –9.7 | –9.8 | –14.6 | –6.1 | –8.9 | –68.7 | 35.7 | –40.1 | 2.5 | –3.2 | –73.8 |
EBITDA1) | 68.4 | 50.0 | 30.1 | 6.6 | 15.2 | 4.8 | 43.1 | 218.2 | –35.0 | –72.6 | –0.2 | –25.4 | 85.0 |
1)EBITDA from segment reporting reconciled to earnings before net financial items, taxes, depreciation and amortization.
2)Former rEMEA region has been restructured into Nordics, WEMEA and CEE in the second half of 2025; figures were restated.
3)Middle East subregion was moved from APAC to WEMEA in the second half of 2025; figures were restated.
The most relevant reconciliation items in the “Other” column were related to adjustments for items affecting comparability in operating expenses and further accounting-related adjustments:
in CHF million | Integration, M&A and earn-out costs | Crayon transaction costs | Crayon integration costs | Cost reduction program | Other non-recurring items2) | IFRS 16 leases | IFRS 15 upfront revenue recognition | Remaining | Total Other |
Revenue | - | - | - | - | - | - | –2.0 | 0.4 | –1.6 |
Third-party service delivery costs | - | - | - | - | - | - | - | 0.6 | 0.6 |
Personnel expenses | –2.7 | - | - | –17.0 | - | - | - | –1.5 | –21.2 |
Operating expenses, net (after operating income) | –0.4 | –12.3 | –2.6 | –2.1 | 4.4 | 14.4 | 0.2 | –4.8 | –3.2 |
EBITDA1) | –3.1 | –12.3 | –2.6 | –19.1 | 4.4 | 14.4 | –1.8 | –5.3 | –25.4 |
1)EBITDA from segment reporting reconciled to earnings before net financial items, taxes, depreciation and amortization.
2)In addition to costs associated with the strategic review, other non-recurring items include income of CHF 4.7 million from released legal provisions, recorded as other operating income
Additional geographical information
Germany, the US, Switzerland and Norway are the main geographical markets for SoftwareOne and represent approximately 35% of revenue. Revenue is reported based on the customer's headquarter domicile:
in CHF million | Germany | US | Norway | Switzerland | Other countries | Total |
Revenue for the six months ended June 30, 2026 | 112.0 | 69.1 | 54.4 | 47.8 | 535.0 | 818.3 |
In the comparative period, Germany, the US, Switzerland and the Netherlands were SoftwareOne’s main geographical markets, together accounting for 46% of revenue.
in CHF million | Germany | US | Switzerland | Netherlands | Other countries | Total |
Revenue for the six months ended June 30, 2025 | 98.3 | 52.3 | 38.9 | 34.0 | 263.1 | 486.6 |
SoftwareOne generated 38% of total revenues with our customer Microsoft (comparative period: 37%). The revenue derives from all segments. Microsoft is our only customer aggregating more than 10% of our total revenues.