On August 27th, Sirma Group Holding presented its financial results for the first half of 2025 during a webinar hosted by the company’s top management, including Tsvetan Alexiev, CEO, and Yordan Nedev, CFO.
As one of the leading Bulgarian software companies, Sirma reports a 27% increase in sales revenues for the first half of 2025, reaching BGN 57.7 million. This is according to the company’s interim consolidated financial report for the period ended June 30, 2025.
The Company continues its sustainable development with stable year-on-year growth and an increase in all key financial indicators. The results align with its strategic goals of achieving a turnover of EUR 100 million within the next 2-3 years and a successful listing on the Frankfurt Stock Exchange by early 2026. Additionally, the financial results indicate a 46.6% increase in earnings before interest, taxes, and depreciation (EBITDA). Net profit for the period exceeded BGN 1 million.
Europe remains the most important market in which the company operates. Sales on the Old Continent accounted for 78.3% of its revenues. The second most important market is North America with 11.4%, and the third is the United Kingdom with 7.7%.
Among Sirma’s diverse range of services, the sales structure by segment shows that systems integration remains the leading segment, accounting for 39.2% (BGN 29,596 million). This is followed by IT services at 21.2% (BGN 12,256 million) and the financial industry at 14.6% (BGN 8,444 million).
Regarding the nature of the recurring revenue streams, the chart below presents their split by service type.
Read the detailed report here.
During the discussion, Tsvetan Alexiev, CEO of Sirma Group, shared,
The biggest challenge that technology companies are facing today is the rapid adoption of artificial intelligence (AI). At Sirma, we are preparing for this new reality by implementing a series of strategic actions. We have begun developing the Sirma Enterprise AI platform, which will serve as an ecosystem of agents and a foundation for various AI-based tools. The first version is scheduled to be ready by September 15, and we will conduct internal testing before releasing it to our customers. We also are designing an architecture that utilises local large language model (LLM) models to address our customers’ concerns about sensitive data being stored on servers outside the EU when using AI solutions. Our third strategic initiative is to offer comprehensive AI-based services as software-as-a-service (SaaS) on a subscription basis.
If you need more information, please contact Stanislav Tanushev, Investor Relations Director at Sirma (ir@sirma.com).
