SDC A/S Due Diligence

Run due diligence on SDC A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Independent (Denmark) · www.sdc.dk · 29 vendors

SDC A/S is a full-service IT center that develops and operates efficient and future-proof banking solutions for financial institutions across the Nordic region. The company provides a common Nordic platform adapted to national laws and languages, offering services such as core banking systems, digital banking solutions, and regulatory compliance tools. SDC was founded by a number of small savings banks to facilitate digital bookkeeping.

Resilience scores

Technology vendors

Services catalogue

21 services in catalogue across 7 categories; runs on 29 sub-vendors.

Insights

Last updated 2026-10-11 · revision 19

29 direct vendors, 257 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

10 in-scope frameworks identified; showing 3.

ISAE 3000 (source) — No public evidence

ISAE 3000 is an international assurance standard for non-financial information. It is often used by service organizations in Europe to provide assurance over their control environments, similar to SOC 2 in the US.

PSD2 — No public evidence

The Payment Services Directive 2 (PSD2) applies to payment service providers. SDC, by providing core banking and digital solutions, is a critical enabler of their clients' compliance with PSD2's technical and security requirements.

Evidence: https://pitchbook.com/profiles/company/529340-05, https://netcompany.com/netcompany-to-develop-the-future-of-banking-services-with-sdc/, https://worklinq.com/case/sdc/, https://sycurio.com/knowledge/psd2, https://curity.io/resources/learn/what-is-psd2/

NIS2 (source) — No public evidence

SDC A/S operates in the financial services sector, which is listed as an essential entity under the NIS2 Directive. As a large enterprise operating within the EU, it falls squarely within the directive's scope.

Evidence: https://www.sdchostingandsupport.co.uk/sdc-hosting-and-support-achieves-iso-27001-certification-for-information-security/, https://sdcappsa.com/en/company/security

Financials

Three-year financials

Financial Resilience Score: 6/10

The entity under CVR 39488914 (effectively Netcompany Group consolidating the acquired SDC business) demonstrates strong top-line momentum with a 12.5% revenue CAGR from 2022-2025, reaching DKK 7.89B in FY2025. Revenue growth was broad-based with 10% organic Q4 2025 growth, and the SDC acquisition provides a strategic foothold in the Nordic financial services IT market, estimated at DKK 44B+ with >10% annual growth expected through 2028. Management expects DKK 300-350M in annual cost synergies by 2028 from the SDC integration, and Banking Services margins have already improved from a pro forma 6.4% to 13.3% in Q4 2025. However, profitability has deteriorated sharply, with EBIT falling 28.5% in FY2025 to DKK 562M and net profit nearly halving from DKK 468M to DKK 257M. EBIT margin has compressed from 15.1% in 2022 to 7.1% in 2025. Equity has declined three consecutive years from DKK 3.83B to DKK 3.49B, indicating distributions exceeding retained earnings. The acquired Banking Services business showed a 3.9% pro forma revenue decline in Q4 2025, raising concerns about organic growth of the SDC assets. Guidance was narrowed during 2025, and HR friction risks exist following renunciation of the collective bargaining agreement with Finansforbundet. Overall, a solid growth story coupled with integration-driven margin pressure yields a moderate resilience score.

Key strengths: Revenue CAGR of 12.5% from 2022-2025, Strategic SDC acquisition for DKK 1B creating Nordic financial services foothold, Expected DKK 300-350M annual cost synergies by 2028, Banking Services margin recovery from 6.4% to 13.3% in Q4 2025, Sticky owner-member bank customer base of 120+ Nordic financial institutions, Broad-based 10% organic revenue growth in Q4 2025, Large addressable market of DKK 44B+ growing >10% annually

Risk factors: EBIT declined 28.5% in FY2025 due to integration burden, EBIT margin compressed from 15.1% (2022) to 7.1% (2025), Net profit nearly halved from DKK 468M to DKK 257M in FY2025, Equity eroded three consecutive years, Acquired SDC business shrank 3.9% pro forma in Q4 2025, Guidance narrowed/downgraded during 2025, Labour/union friction from renunciation of Finansforbundet collective bargaining agreement, Integration execution risk through 2028

Revenue by geography

Workforce by country

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