**Summary of Computacenter PLCs 2025 Final Results**
**Financial Performance Highlights**
**Revenue Growth** Computacenter PLC reported a 32.0% increase in revenue to £9,193.9 million in 2025, driven by strong performance in Technology Sourcing and Services.
**Gross Profit** Gross profit rose by 10.5% to £1,144.1 million, despite a decline in gross margin due to high-volume Technology Sourcing activity in North America.
**Adjusted Operating Profit** Adjusted operating profit increased by 11.3% to £274.7 million, with significant growth in North America and the UK, partially offset by weaker performance in France.
**Adjusted Profit Before Tax** Adjusted profit before tax grew by 7.1% to £272.0 million.
**Dividend** The final dividend was increased by 7.6%, bringing the total dividend growth to 5.5% at 74.6p per share.
**Regional Performance**
**North America** Outstanding performance with both enterprise and hyperscale customers, leading to nearly doubled profits and accounting for nearly 40% of the Group’s adjusted operating profit.
**UK** Returned to growth, benefiting from a more targeted approach and greater customer proximity.
**Germany** Delivered a stronger second half, supported by public sector recovery, achieving a result similar to 2024.
**France** Disappointing performance due to reduced hardware volume in the public sector and challenging market conditions.
**Strategic and Operational Highlights**
**Customer Growth** Added 27 major customers, reaching a total of 215, the highest growth in five years.
**Professional Services** Strong revenue growth of 8.8% in constant currency, driven by the UK and North America.
**Managed Services** Modest decline in revenue, with an improved pipeline of opportunities.
**Product Order Backlog** Increased to £7.1 billion, up 200.3% year-on-year, driven by strong Technology Sourcing orders in North America and the UK.
**Capital Allocation**
**Investments** £46.2 million invested in Group-wide initiatives to improve capabilities and secure future growth.
**Acquisition** Completed the acquisition of AgreeYa for US$120 million, enhancing professional services capabilities in North America and India.
**Dividend Policy** Maintained a dividend cover of 2-2.5x adjusted diluted EPS, with a 5.5% increase in total dividend.
**Outlook**
**Strong Position** Exited 2025 with a record committed product order backlog of £7.1 billion across all geographies.
**Challenges** Aware of macroeconomic uncertainties, hardware component shortages, and political environment but confident in navigating these challenges.
**Expectations** Anticipate further strategic and financial progress in 2026, enhanced by the AgreeYa acquisition.
**CEO Commentary**
Mike Norris, CEO, highlighted the strong performance in 2025, driven by growth in major customers and both Technology Sourcing and Services. He emphasized the outstanding performance in North America, the return to growth in the UK, and the plans to improve performance in France. Norris also noted the strong cash generation and strategic acquisitions, positioning the company well for 2026.
**Financial Metrics**
**Adjusted Net Funds** Increased by 25.7% to £606.0 million, reflecting strong cash generation.
**Net Funds** Rose by 20.8% to £426.2 million.
**Operating Profit** Increased by 1.4% to £241.2 million.
**Profit Before Tax** Decreased by 2.5% to £238.5 million due to exceptional items.
**Strategic Focus**
**Target Market Customers** Focus on large corporate and public sector organizations.
**Service Line Scale** Build competitive advantage in Technology Sourcing, Professional Services, and Managed Services.
**Empower People** Enhance customer-facing capabilities and operational efficiency.
**Conclusion**
Computacenter PLC demonstrated robust financial and operational performance in 2025, with significant growth in key regions and strategic initiatives. Despite challenges, the company is well-positioned for continued progress in 2026, supported by a strong order backlog, strategic acquisitions, and a focus on customer relationships and operational efficiency.