WOOD Flash – 4iG: 1Q25 results review – 11% yoy increase in reported EBITDA, in line with our estimate
On Friday (30 May), 4iG reported its 1Q25 results, with sales of HUF 171.5bn (up 9% yoy, 4% below our estimate), EBITDA of HUF 60.1bn (up 11% yoy, in line with our estimate) and a net loss of HUF 3.7bn (vs. the HUF 16.7bn net loss in 1Q24 and our PLN 0.3m net loss forecast). The miss vs. our estimate on the bottom line resulted from higher-than-expected income tax, which came in at HUF 5.3bn. The lower yoy net loss was driven partially by the gain on FX of HUF 4.8bn recorded in 1Q25 (vs. the HUF 9.6bn FX loss in 1Q24). We see the results as neutral, as the sales and EBITDA were in line with our expectations, while the miss on the bottom line was driven by higher-than-expected income tax.4iG Nyrt. 4iG Nyrt, formerly Freesoft Szoftverfejleszto es Szamitatechnikai Szolgaltato Nyrt is a Hungary-based company engaged in providing software products and consultancy. The Company's activities include development and implementation of specific, custom-made software systems, document management, knowledge management, portal and collaboration applications, complex services for business needs in the areas of implementation, support and consultation, intranet- and Internet-based development, services, graphical and creative design, and consultation, design, development and implementation of mobile business applications, as well as operation, support, outsourcing, application service provision (ASP), application portfolio management (APM), hosting and other services. The Company has three subsidiaries: Axis Consuling 2000 Kft, BankSoft Kft and HUMANsoft Kft.
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