Nasdaq CopenhagenIFRS · EUR

Twoday Holding Denmark ApS

Twoday Holding Denmark ApS is a Denmark-based digital services group that provides technology consulting and software solutions through its consolidated group structure. The company serves organizations that need reliable, long-lived digital systems and supports a range of business and public-sector use cases across the Nordic and broader European market.

Revenue391m EUR
+0.9 %y/y
Operating profit (EBIT)-30.6m EUR
−293.6 %y/y
EBIT margin-7.8%
−11.9 ppy/y
Net income-97.3m EUR
−162.8 %y/y
Free cash flow15.5m EUR
+414.2 %y/y

Fiscal year 2025 · change from previous year

Development 2024–2025

-1000100200300400m EUR2024: 388 m EUR2024: EBIT 16 m EUR20242025: 391 m EUR2025: EBIT -31 m EUR2025391-31
RevenueOperating profit (EBIT)

Business

Share of revenue
Digital consulting20 %

Advisory services that help clients define technology roadmaps, architecture, and digital transformation priorities.

Custom software development35 %

Build-to-spec software projects, integrations, and application delivery for client-specific needs.

Managed services20 %

Ongoing support, maintenance, and operational services for enterprise applications and platforms.

Data and cloud services15 %

Data engineering, cloud enablement, and related platform work that supports modern IT environments.

Industry solutions10 %

Sector-focused digital solutions tailored to customer workflows in public services and vertical industries.

Customers

Twoday sells primarily to organizations that need external technology expertise to design, build, and maintain business-critical digital systems. The annual report references sectors such as manufacturing, energy, and public services, indicating a mix of private and public-sector customers that value reliability, usability, and long-term support. Its work is typically bought by clients seeking recurring delivery capability rather than one-off software products.

Manufacturing

Buys digital solutions that support operational efficiency, workflow automation, and production-related systems.

Energy

Buys technology services for data, operational systems, and process improvement use cases.

Public services

Buys reliable digital platforms and application support for citizen- and employee-facing services.

Enterprise clients

Buys consulting, development, and managed services for mission-critical business applications.

Strategy

Twoday's strategy is centered on delivering dependable digital solutions that solve recurring business problems for clients across sectors. The report emphasizes technical expertise, long-term usability, and impact, suggesting a focus on sticky client relationships, repeat delivery, and trusted implementation capacity. Maintaining governance discipline and access to group funding also supports continuity in a services model that depends on working capital, talent, and project execution.

Deepen recurring client relationshipsMedium term

A services model is strengthened by repeat work, renewals, and long-duration customer accounts.

Expand sector coverageMedium term

Serving several industries reduces concentration and broadens the addressable market.

Preserve delivery quality and governanceShort term

Client trust in mission-critical digital work depends on execution consistency and oversight.

Geography

Twoday Holding Denmark ApS is headquartered in Denmark and operates as part of a Nordic digital services platform. The report excerpt does not provide a formal revenue split by country, but the business context points to Denmark as the core base and the broader Nordic region as the main operating area. Geographic exposure matters because demand, delivery capacity, and customer relationships are closely tied to local-language and local-market service delivery.

Risks

The main risks stem from project execution, customer concentration, and the dependence on skilled employees to deliver complex digital services. As a consulting and software services business, Twoday is also exposed to demand cyclicality, competition for talent, and the risk that clients delay discretionary technology spending. Group financing and acquired subsidiaries add complexity to capital structure, consolidation, and integration, while foreign-currency and lease/accounting judgments can affect reported results.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Talent retention and availability1Project execution and delivery risk2Customer demand cyclicality3Group financing dependence4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Talent retention and availabilityImpact: HighLikelihood: High

    The business relies on skilled consultants and developers to deliver billable work.

    Exposure: Service capacity and utilization

  2. Project execution and delivery riskImpact: HighLikelihood: Medium

    Digital consulting and software work depends on meeting scope, timing, and quality expectations.

    Exposure: Custom development and managed services

  3. Customer demand cyclicalityImpact: HighLikelihood: Medium

    Clients can defer IT projects or reduce discretionary spending when budgets tighten.

    Exposure: Consulting and implementation revenue

  4. Group financing dependenceImpact: MediumLikelihood: High

    The report notes funding from the sole shareholder through shareholder loans, increasing structural dependence.

    Exposure: Liquidity and capital structure

Accounting

Judgemental items
Revenue recognition timing

Services and project work may be recognized over time or at milestones, affecting comparability across periods.

Impact: Revenue and gross profit timing

Consolidation of subsidiaries

Subsidiaries are consolidated from acquisition date, changing reported scale and goodwill-related balances.

Impact: Revenue, assets, and goodwill

Foreign currency translation

Foreign-currency balances are translated into the group functional currency, affecting equity and results.

Impact: Equity and FX gains/losses

Lease accounting

Office and operating leases create right-of-use assets and lease liabilities that affect leverage metrics.

Impact: EBITDA, assets, and liabilities

Publicly listed companies with a comparable business focus.

Last updated: 24/10/2026

Twoday Holding Denmark ApS (XCSE) – Financial Analysis & Key Metrics – Clarifo