Nfon Ag · XETR:NFN
Nfon — H1 2026 Earnings Presentation
28 slides from Nfon's earnings presentation, Aug 20, 2026
Slide 1: H1 2026 results
Earnings Call, 20 August 2026, online H1 2026 results NFON AG ｜ EARNINGS CALL
Slide 2: Presenting today’s speakers
WHO YOU HAVE ON THE CALL TODAY Presenting today’s speakers Andreas Wesselmann Alexander Beck CEO CFO NFON AG ｜ EARNINGS CALL
Slide 3: Presentation chapters
Presentation chapters 1. Business update 2. Financials 3. Guidance 4. Q&A 5. Appendix NFON AG ｜ EARNINGS CALL
Slide 4: AI is reshaping business comms faster than anticipated
MARKET ENVIRONMENT & TRANSFORMATION AI is reshaping business comms faster than anticipated Demanding macro backdrop AI shift accelerates What this means for NFON • Euro area GDP growth expected at • 38% of organisations pilot agentic AI – • Market and commercial traction 0.5% in 2026¹ only 11% use i
Slide 5: Accelerating NFON into an AI-first, scalable platform business
STRATEGIC TRANSFORMATION Accelerating NFON into an AI-first, scalable platform business Technology & solutions Go-to-market AI-first operating model • One integrated technology platform • Stronger partner activation • AI embedded across all functions • Ownership of core AI capabilities • Simplified
Slide 6: Turning execution into stronger performance
OUTLOOK AND EXECUTION Turning execution into stronger performance WH AT I S H OL DI N G P E R FO RM AN CE BACK ? WH AT I S WO R KI N G ? WH AT DO W E N EED T O ACCE LE R ATE? € x Cautious customer investment ✓ Strategic growth areas gaining traction ＞ Translation of innovation into customer value x
Slide 7: Financials
Financials NFON AG ｜ EARNINGS CALL
Slide 8: Recurring revenue model remains resilient in a challenging H1
KEY FINANCIAL FIGURES* Recurring revenue model remains resilient in a challenging H1 Revenue Adjusted EBITDA Key financial Down Down performance indicators 3.8% 22.9% to EUR 42.5 million to EUR 4.4 million Rec. revenue Share rec. revenue Seats Blended ARPU Other financial Down Up Down Up performance
Slide 9: Revenue impacted by weaker core business and lower project volumes
DEVELOPMENT OF REVENUE IN EUR MILLION Revenue impacted by weaker core business and lower project volumes • Total revenue decreased by 3.8% to -3.8% EUR 42.5 million (H1 2025: EUR 44.2 million). 89.1 87.3 82.3 7.1 • Recurring revenue decreased by 3.0% to 6.2 EUR 40.0 million (H1 2025: EUR 41.3 millio
Slide 10: Gross margin slightly lower amid revenue decline
DEVELOPMENT OF MATERIALS EXPENSES (adj.) 1 IN EUR MILLION AND GROSS MARGIN 2 Gross margin slightly lower amid revenue decline • Gross profit decreased by 4.2% to EUR 36.4 million (H1 2025: EUR 38.0 million), with the gross profit margin slightly decreasing to 85.6% from 86.1%. • Material expenses we
Slide 11: Adjusted personnel expenses stable year-on-year
ADJUSTED 1 PERSONNEL EXPENSES IN EUR MILLION Adjusted personnel expenses stable year-on-year +0.1% • Personnel expenses increased slightly by 0.7% to EUR 19.0 million (H1 2025: EUR 18.9 million). • The average number of employees increased to 35.5 427 (H1 2025: 422), mainly reflecting the continued
Slide 12: Adjusted EBITDA affected by lower revenue and gross profit
ADJUSTED EBITDA IN EUR MILLION Adjusted EBITDA affected by lower revenue and gross profit –22.9% • EBITDA decreased significantly to EUR 3.7 million 12.6 (H1 2025: EUR 4.9 million). 12.3 1.2 • Adjusted EBITDA declined to EUR 4.4 million (H1 1.5 2025: EUR 5.7 million). o The decline primarily reflect
Slide 13: Positive operating cash flow supports investment activity
CASH FLOW FOR FUTURE SUCCESS IN EUR MILLION Positive operating cash flow supports investment activity • Operating cash flow increased slightly to EUR 2.8 million (H1 2025: EUR 2.5 million), supported by a more favourable working-capital development. 2.8 • Investing cash flow amounted to EUR –5.7 mil
Slide 14: Guidance
Guidance NFON AG ｜ EARNINGS CALL
Slide 15: Updated 2026 outlook reflects slower conversion into financial performance
OUTLOOK KEY FINANCIAL FIGURES Updated 2026 outlook reflects slower conversion into financial performance Result 2025 Outlook April 2026 Outlook August 2026 Total EUR 89.1 million Low to mid EUR 84.5 – 86.0 million revenue single-digit % range growth Adjusted EUR 12.6 million Slightly above EUR 9.5 –
Slide 16: Q&A
Q&A NFON AG ｜ EARNINGS CALL
Slide 17: Thank you
THANK YOU for your time and attention Corporate.nfon.com ir- info@nfon.com NFON AG ｜ EARNINGS CALL
Slide 18: Appendix
Appendix NFON AG ｜ EARNINGS CALL
Slide 19: Seat development reflecting challenging market environment
DEVELOPMENT OF NUMBER OF SEATS (‘000) AND ARPU Seat development reflecting challenging market environment –4.2% • Total number of seats decreased by 4.2% to 629,869 (H1 2025: 657,584), mainly reflecting short- 656 665 658 term effects from portfolio streamlining and 647 simplification, alongside cau
Slide 20: Customer acquisition costs in line with strategic focus
DISTRIBUTION COST AND MARKETING EXPENSES IN EUR MILLION Customer acquisition costs in line with strategic focus • Sales expenses decreased by 6.5% to EUR 5.7 million (H1 2025: EUR 6.1 million) in line Distribution cost Marketing expenses with lower overall revenue as well as targeted cost control. •
Slide 21: Reasons to invest in NFON
MOMENTUM – INNOVATION – VALUE Reasons to invest in NFON Attractive market environment We operate in a growing European market, with strong momentum in Germany in particular. Trusted partner in Europe We combine digital sovereignty with European values, data protection and technological independence,
Slide 22: Company performance over time at a glance
10-YEAR BUSINESS DEVELOPMENT IN EUR THOUSAND Company performance over time at a glance Income statement 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Revenues 89,065 87,336 82,339 80,792 75,893 67,602 57,117 43,028 35,654 30,388 20,951 Change from the previous year (%) 2.0 6.1 1.9 6.5 12.3
Slide 23: Our Management Board
MEET THE TEAM Our Management Board Andreas Wesselmann Alexander Beck CEO CFO • At NFON since 2024 • At NFON since 2025 • > 20 years of experience in an international working • > 20 years of experience across retail, FMCG, software and environment and in senior executive positions within the technolo
Slide 24: Share at a glance
NFON ON THE CAPITAL MARKET Share at a glance 14.1 Share information 4.0 ISIN DE000A0N4N52 38.1 6.0 WKN A0N4N5 Segment Prime Standard/Telecommunication Shares 16.6 million (29 March 2021) Type of shares No-par-value bearer shares 8.3 Voting rights Each share entitles the holder to one vote Trading se
Slide 25: Financial calendar
INVESTOR RELATIONS ACTIVITIES AT A GLANCE Financial calendar 19 Nov. Q3 2026 quarterly statement 23 Nov. German Equity Forum NFON AG ｜ EARNINGS CALL
Slide 26: Investor Relations contact and more…
STAY IN TOUCH Investor Relations contact and more… • At NFON since 2023 Friederike Thyssen • > 15 years of experience in investor relations, sustainability reporting and VP Corporate Affairs & project management Investor Relations • Previous experience includes: Deutsche Bahn, Kirchhoff Consult NFON
Slide 27: Disclaimer
Disclaimer This publication contains forward-looking statements regarding NFON AG or the NFON Group and its subsidiaries, including assessments, estimates and forecasts regarding the financial position, business strategy, plans and objectives of the management and future operations of NFON AG and th
Slide 28: NFON AG ｜ EARNINGS CALL
NFON AG ｜ EARNINGS CALL