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Wavestone Announces 9-Month Revenue Growth, Confirms Annual Targets

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Wavestone reported a substantial rise in revenue for the first nine months of the 2024/25 fiscal year, amounting to €698.5 million. This represents a total growth of +54%, with 1% organic growth on a pro forma basis, which considers acquisitions of Q_PERIOR and Aspirant Consulting. In Q3 alone, revenue increased by +37% to €240.6 million, though organic growth showed a slight decline of -1%.

The consultant utilization rate held stable at 73%, with an average daily rate of €937. The order book grew to 4.5 months of work by end-December 2024, reflecting improved sales prospects. As of December 31, 2024, the consulting firm employed 5,990 people with a stable staff turnover rate of 13%.

Despite growing price pressures, Wavestone aims to achieve stable annual revenue and a recurring operating margin of 12.5%. The company anticipates ongoing challenges in Q4 2024/25, attributed to client hesitancy and weak European demand. Despite COO Patrick Hirigoyen's temporary absence due to health issues, the company's management continuity plan remains robust.

R. H.

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