Swiss technology firm SoftwareOne reported on Wednesday that it incurred a net loss of 1.6 million Swiss francs in 2024 due to exceptional restructuring expenses. This was a downturn from the 21.4 million franc profit posted in 2023. Despite the setback, SoftwareOne's full-year revenue reached 1.015 billion Swiss francs ($1.12 billion), slightly higher than the 2023 figures.
The company is set to finalize its acquisition of Crayon Group in June, earlier than initially projected for the third quarter. The acquisition deal, valued at $1.4 billion, was agreed upon in December when SoftwareOne announced its plans to buy its Norwegian competitor.
By the end of 2024, SoftwareOne had achieved annualized cost savings of 58 million francs, surpassing the original target of 50 million francs by the second quarter of 2025. Consequently, the cost-saving goal was raised to 70 million francs.
Looking ahead to 2025, SoftwareOne's CEO Raphael Erb stated that the focus would primarily be on integrating Crayon, with no significant acquisitions planned. However, Erb mentioned that there could be consideration for smaller bolt-on acquisitions.
Erb expressed optimism regarding potential challenges from new U.S. administration tariffs, highlighting SoftwareOne's presence in over 60 countries. He emphasized the company's ability to operate locally and bill in local currencies, as well as its strategic position within the rapidly growing cloud and hyperscaler market. Erb stated, "We're operating in an environment where the cloud and the hyperscalers are continuing to grow fast. And I think that's something we can benefit from."
The exchange rate at the time was $1 = 0.9036 Swiss francs.