NTI Group’s reported H1 financials were affected by significantly fewer multi-year agreements up for renewal in our software division but we still show strong underlying results.
Revenue for the first half of 2026 amounted to 70.5 mEUR, a decrease of 4.5% compared with H1 2025 (73.7 mEUR). Adjusted EBITDA came in at 20.3 mEUR against 26.1 mEUR, a decline of 22.5%, with the adjusted EBITDA margin at 28.8% (H1 2025: 35.5%). The decline in reported revenue year-over-year was driven by a low share of multi-year renewals in our third-party software business for 2026 compared to 2025. We are however pleased to note that demand for our own NTI software solutions and our service offerings remained strong through the first half of 2026.
When looking at our underlying proforma performance on an accrued basis, the accrual revenue increased 2.4% and accrual adjusted EBITDA increased 12.5% compared to H1 2025 which emphasis the strong underlying commercial performance in our business which is combined with strict cost controlling.
The FY 2026 outlook is maintained compared to the outlook set out in the Annual report 2025 and the Q1 interim report. We continue to expect revenue growth in the range of 0-5%, based on constant exchange rates and an adjusted EBITDA margin of 30-35%.