Conscia A/S

Denmark · owned by Nordic Capital (Denmark) · conscia.com · 70 vendors

Conscia is a European IT infrastructure company that designs, builds, secures, and runs digital infrastructure for organizations. The company specializes in cybersecurity, networking, hybrid cloud, and observability solutions with managed services.

Resilience scores

Disruption prediction

Conscia A/S has an estimated 11% probability of disruption in the next 6 months.

31 of Conscia A/S's 70 vendors monitored for disruptions.

Technology vendors

Services catalogue

2 services in catalogue across 2 categories; runs on 70 sub-vendors.

Insights

Last updated 2026-09-15 · revision 76

70 direct vendors, 436 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 8/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Conscia A/S exhibits strong foundational elements for migration readiness. Their internal tech stack and product offerings demonstrate a clear embrace of modern, cloud-native architectures, including multi-cloud capabilities (Azure, AWS), containerization (Kubernetes is referenced for 'resilient stateful Kubernetes platforms'), and software-defined networking (Cisco ACI). Services like 'Conscia Cloud (IaaS / Managed Hybrid Cloud)' and 'Secure SD-WAN as a Service' further indicate architectural flexibility and experience with workload portability. Financially, their consistent revenue growth provides the necessary capital to fund complex migration initiatives. The extensive list of key technology partners (e.g., Cisco, Palo Alto Networks, Microsoft, Broadcom/VMware, Dynatrace, Splunk) and the reported 'Vendor Geographic Diversity: 12 unique countries' suggest a diverse vendor ecosystem, which typically reduces vendor lock-in and provides flexibility in choosing migration paths and tools. However, the regulatory environment presents notable challenges. Conscia is 'Partially Compliant' with GDPR, and has 'Assessment Required' statuses for NIS2 and DORA. These regulations, along with general data residency requirements (especially with AWS usage and GDPR's data transfer restrictions), will add significant complexity, cost, and legal considerations to any large-scale migration, particularly when moving sensitive customer or internal data across borders or to new cloud environments. While the technical capabilities are strong, ensuring full compliance and addressing these regulatory requirements will be a critical and potentially time-consuming aspect of any migration strategy.

Compliance

9 in-scope frameworks identified; showing 3.

NIS2 (source) — Assessment Required

Conscia provides managed ICT services, including cybersecurity and networking, to clients in critical sectors like finance, healthcare, and utilities across the EU. With over 1700 employees and revenue exceeding EUR 600M, it meets the size criteria and likely qualifies as an 'Important' or 'Essential' entity.

Non-compliance can lead to substantial fines and direct liability for management. As a provider of critical ICT services, any service disruption due to a security incident could have a cascading effect on their clients, many of whom are in essential sectors.

Evidence: https://conscia.com/about-us/, https://conscia.com/press-releases/conscia-announces-strategic-rebrand/, https://www.nordiccapital.com/portfolio-cases/investments/conscia/, https://conscia.com/ie/press-releases/conscia-reports-record-earnings-in-2024-25-driven-by-strong-growth-in-cybersecurity-service-revenue-and-acquisitions/, https://conscia.com/service/cns/, https://conscia.com/

CER Directive — Assessment Required

The CER Directive runs parallel to NIS2, covering non-cyber resilience. As Conscia services entities that are in-scope for CER (e.g., energy, health), they may have downstream obligations related to ensuring the physical security and resilience of their service delivery.

The CER Directive focuses on the physical resilience of critical entities. As an ICT service provider, Conscia's direct obligations are likely minimal unless they operate critical data center infrastructure. The primary risk would be indirect, through client requirements.

Evidence: https://msppartners.io/company/conscia-a-s/, https://www.preqin.com/data/profile/asset/conscia-a-s/110796, https://conscia.com/about-us/, https://www.nordiccapital.com/portfolio-cases/investments/conscia/, https://conscia.com/ie/press-releases/conscia-reports-record-earnings-in-2024-25-driven-by-strong-growth-in-cybersecurity-service-revenue-and-acquisitions/, https://conscia.com/press-releases/conscia-group-announces-conscia-ireland-and-conscia-uk/

DORA (source) — Assessment Required

Conscia provides cybersecurity and critical digital infrastructure services to clients in the European financial sector. This makes it a potential ICT third-party service provider under the Digital Operational Resilience Act, which applies to financial entities and their key technology partners.

If deemed a 'critical ICT third-party provider' by EU regulators, Conscia would face direct oversight and significant compliance obligations. Failure to comply could result in penalties and exclusion from servicing the financial sector, impacting a key market.

Evidence: https://conscia.com/about-us/, https://www.nordiccapital.com/portfolio-cases/investments/conscia/, https://conscia.com/ie/press-releases/conscia-reports-record-earnings-in-2024-25-driven-by-strong-growth-in-cybersecurity-service-revenue-and-acquisitions/, https://conscia.com/service/managed-services/managed-security-services/conscia-cyberdefense/, https://cpl.thalesgroup.com/blog/compliance/dora-compliance-for-financial-services-key-insights-and-solutions, https://www.akamai.com/glossary/what-is-dora

Financials

Three-year financials

Financial Resilience Score: 6/10

Conscia A/S demonstrates strong top-line and EBITDA momentum, with revenue nearly doubling over five years and reaching DKK 5,701M in 2024/25 (+25% YoY). Normalized EBITDA hit an all-time high of DKK 718M (+41% YoY), with margins expanding to ~12.6%. Cash flow generation is a particular strength, with cash conversion of 149% in 2022/23 and 158% in 2023/24, indicating efficient working capital management and tailwinds from managed-services deferred revenue. The company benefits from Nordic Capital's private equity backing, providing M&A firepower and financial stability. However, the company reported net losses in each of the last three disclosed years (DKK -99M, -64M, -103M), reflecting the costs of an aggressive M&A strategy, integration expenses, higher interest rates from PE-related financing, and amortization of acquired intangibles. Statutory equity, EBIT, and net debt figures are not publicly disclosed, limiting full visibility into the balance sheet. The heavy reliance on 'normalized' EBITDA (excluding M&A and non-recurring items) as the headline metric warrants caution. Strategic diversification across 10+ European countries, a growing services/managed-services base (Services segment +42% in 2024/25, managed services +95%), top-decile customer and employee NPS (66-77), and structural tailwinds from cyber/NIS2 regulation support resilience. Vendor concentration (historically Cisco-heavy) and integration risk from 7+ acquisitions in 18 months remain key concerns.

Key strengths: Revenue nearly doubled over 5 years with 19% CAGR, Normalized EBITDA reached record DKK 718M in 2024/25 (+41% YoY), Strong cash conversion (149-158%) driven by managed-services model, Growing recurring revenue base with Services +42% and managed services +95% in 2024/25, Nordic Capital PE backing provides M&A firepower, Geographic diversification across 10+ European countries, Top-decile customer and employee NPS scores (66-77), Structural tailwinds from cybersecurity and NIS2 regulation

Risk factors: Reported net losses in each of the last three years (DKK -64M to -103M), Heavy M&A activity (7+ deals in 18 months) creates integration and goodwill risk, Undisclosed leverage; higher interest rates flagged as drag on net result, Vendor concentration risk with historical Cisco dependency, Low-margin hardware/software pass-through inflates headline revenue, Talent scarcity and wage inflation in cybersecurity engineering, Limited public disclosure of EBIT, equity, and net debt

Revenue by product/service

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