IONOS is developing into the European antithesis of the American cloud giants and impresses with growth and digital sovereignty.
Europe's digital pioneer
IONOS is a German digitalization provider that primarily targets small and medium-sized enterprises (SMEs), the self-employed and organizations. As a reliable partner, the company accompanies its customers from Einstieg to the internet through to a complete cloud infrastructure.
The business model is based on two clearly defined pillars: Web Presence & Productivity and Cloud Solutions.
In the area of Web Presence & Productivity, IONOS offers all the tools required for a professional online presence. This includes domain registration, email and office solutions, web hosting and an AI-based website builder. E-commerce functions, server systems and additional services such as security and optimization tools are also part of the Portfolio.
At the same time, IONOS is driving forward its cloud business. The cloud solutions include public and private clouds, bare-metal servers and fully managed IT infrastructures (managed services). IONOS focuses on high scalability, strong performance and maximum control.
Six million reasons
A key feature of the company is its technological independence: IONOS operates its own infrastructure with over 100,000 servers in around 31 data centers, nine of which it owns. The company also attaches great importance to digital sovereignty: its cloud offerings are 100% GDPR-compliant and hosted in European data centers.
IONOS occupies a special position in the industry: As the European market leader in web hosting with strong cloud momentum, it combines infrastructure expertise with regulatory security. This combination makes the company attractive for customers who value Datenschutztransparency and performance and want to use local providers.
The company has won over more than 6 million customers with this offering.
Convincing figures
IONOS is amazingly successful. In the past three financial years, sales have increased from EUR 1.29 billion to EUR 1.56 billion.
At the same time, profitability has improved.
The operating margin climbed from around 17% to almost 22%. Earnings increased disproportionately from EUR 0.53 to EUR 1.22 per share.
The share price has performed well since Börsengang 2023, making Ionos one of the few success stories among the newcomers to the stock market in recent years.
Is the current correction an opportunity?
The positive development continued in the first nine months. The number of customers increased from 6.32 to 6.53 million.
Sales improved by 6.2% to 980.2 million euros. The adjusted EBITDA The adjusted net profit increased by 20.8% to 368.5 million euros and earnings by 40.6% to 1.35 euros per share.
Net debt was reduced from EUR 855 million to EUR 741 million over the course of the year.
The forecast for the current financial year was confirmed. IONOS is forecasting sales growth of 8% (equivalent to around EUR 1.35 billion), increasing profitability and a 17% rise in EBITDA to EUR 480 million.
In addition, the AdTech business is to be sold. In the first nine months, the division generated EBITDA of EUR 32 million.
It is therefore a division with comparatively low profitability.
Outlook and valuation
"The AdTech business faces exciting challenges and at the same time has great potential. In order to leverage this, we need increasing management attention, which we cannot provide optimally in the long term. In future, we want to concentrate fully on our core business," says Achim Weiß, CEO IONOS Group SE.
According to consensus estimates, earnings are expected to increase by 40% to EUR 1.70 per share this year.
As earnings of EUR 1.35 per share were achieved in the first nine months, this is plausible. There is even a very high probability that expectations will be exceeded.
IONOS therefore has a P/E ratio of 15.6, which is low in relation to the growth rates and the characteristics of the business.
Assuming that the valuation remains at the current level, this results in a 12-month target price of EUR 31.98
Ionos share: Chart from 19.11.2025, price: EUR 26.50 - symbol: IOS | Source: TWS
Ionos has returned to the starting point of the last rally and appears to be attracting interest. If it now manages to rise above EUR 27, the bulls could take control again.
Possible Kursziele are 30 and 32 euros. The next hard Widerstand lies at 36 euros.
However, if the share falls below EUR 25, an extension of the correction towards EUR 23.25 or EUR 21.00 - 21.75 must be expected.
