Slide 1: 9M/Q3 2025 results
Earnings Call, 20 November 2025, online 9M/Q3 2025 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 highlights 2. Financials 3. Guidance 4. Q&A 5. Appendix NFON AG ｜ EARNINGS CALL
Slide 4: New Management Board
BUSINESS HIGHLIGHTS New Management Board Andreas Wesselmann has been Chief Executive Officer of NFON Alexander Beck has been Chief Financial Officer of the NFON since 1 October 2025, after having served as Chief Technology Group since 1 October 2025. Officer since January 2024. He brings extensive f
Slide 5: Executing growth – empowered by AI
BUSINESS HIGHLIGHTS Executing growth – empowered by AI Bits & Pretzels Executive Dinner Awards & Recognition “From Europe with Intelligence” • Europe’s leading founders’ festival with • Exclusive European executive event in • NFON was named Manufacturer of the Year strong NFON presence and brand Mun
Slide 6: Never miss a call again. Nia FrontDesk – your AI assistant
BUSINESS HIGHLIGHTS Never miss a call again. Nia FrontDesk – your AI assistant Answer & qualify Offer smart Natural language Made in Europe, calls fallbacks quality for Europe “How can I help?” → understands If a person isn’t available: ASR/TTS* multilingual, optimised Hosted in the EU, GDPR- intent
Slide 7: Financials
Financials NFON AG ｜ EARNINGS CALL
Slide 8: Solid top-line growth in 9M 2025
KEY FINANCIAL FIGURES Solid top-line growth in 9M 2025 Result 9M 2025 Revenue up by 2.7% to EUR 66.0 million Total revenue in 9M 2025 compared to 9M 2024. Adjusted EBITDA of EUR 8.7 million, Adjusted EBITDA 3.5% below 9M 2024. NFON AG ｜ EARNINGS CALL
Slide 9: Revenue growth driven by strong project business
DEVELOPMENT OF REVENUE IN EUR MILLION Revenue growth driven by strong project business +2.7% 87.3 • Total revenue increased by 2.7% to EUR 66.0 million (9M 2024: EUR 64.3 million). 80.8 82.3 6.2 5.2 81.1 • Recurring revenues rose by 1.9% to EUR 61.8 7.2 77.1 million (9M 2024: EUR 60.6 million), repr
Slide 10: Gross margin continues to develop positively
DEVELOPMENT OF COST OF MATERIALS (adj.) 1 IN EUR MILLION AND GROSS MARGIN 2 Gross margin continues to develop positively – 6.3% • Material expenses decreased by 6.3% to EUR 9.1 million (9M 2024: EUR 9.7 million), reflecting lower hardware sales and an improved cost mix. • Gross profit increased by 4
Slide 11: Personnel expenses in line with strategic focus
ADJUSTED 1 PERSONNEL EXPENSES IN EUR MILLION Personnel expenses in line with strategic focus +6.7% • Personnel expenses increased by 9.9% to EUR 28.2 million (9M 2024: EUR 25.6 million). 36.4 34.8 33.4 • The average number of employees rose to 427 (9M 2024: 415), mainly due to the integration of bot
Slide 12: Adjusted EBITDA remains solid
ADJUSTED EBITDA IN EUR MILLION Adjusted EBITDA remains solid -3.5% • EBITDA decreased by 6.8% to EUR 7.7 million (9M 2024: EUR 8.2 million). • Adjusted EBITDA declined by 3.5% to EUR 8.7 12.3 million (9M 2024: EUR 9.1 million). 1.5 o The decrease mainly reflects planned OpEx investments in personnel
Slide 13: Reinvesting into strategic growth
CASH FLOW FOR FUTURE SUCCESS IN EUR MILLION Reinvesting into strategic growth • Operating cash flow amounted to EUR 4.9 million (9M 2024: EUR 5.1 million), slightly below prior year due to timing effects in receivables 4.9 and provisions. • Investing cash flow at EUR –4.7 million (9M 2024: EUR –12.3
Slide 14: Guidance
Guidance NFON AG ｜ EARNINGS CALL
Slide 15: Environment and priorities
OUTLOOK Environment and priorities Economic environment Strategic priorities – H2 2025 Market growth Macroeconomic volatility Accelerate growth focus Ongoing inflation and geopolitical Operational through AI-powered uncertainty are dampening demand, innovations aligned with efficiency customer needs
Slide 16: 2025: Outlook adjusted but strategic priorities unchanged
OUTLOOK KEY FINANCIAL FIGURES 2025: Outlook adjusted but strategic priorities unchanged Result 2024 Outlook 2025 (August) Outlook 2025 (November) Mid-term 2027e We expect total We expect total revenue to grow Total revenue EUR 87.3 million 3 to 5% revenue to grow in the 1.0 to 2.5% double-digit % ra
Slide 17: Q&A
Q&A NFON AG ｜ EARNINGS CALL
Slide 18: Thank you
THANK YOU for your time and attention Corporate.nfon.com ir- info@nfon.com NFON AG ｜ EARNINGS CALL
Slide 19: Appendix
Appendix NFON AG ｜ EARNINGS CALL
Slide 20: Investment highlights
MOMENTUM – INNOVATION – VALUE Investment highlights Leading market position in Europe We combine strong market positioning with a resilient business model that remains stable amid geopolitical volatility. 1 Attractive market environment We operate in a high-growth market with strong momentum – espec
Slide 21: Financials 9M '25 reported
FINANCIAL HIGHLIGHTS Financials 9M ‘25 reported kEUR 9M 2025 2025 2024 Change Revenue 65,993 64,269 +2.7% Revenue growth supported by stable recurring revenues and sustained partner channel performance. Recurring revenue 61,768 60,603 +1.9% Adj. EBITDA 8,741 9,056 -3.5% Adjusted EBITDA demonstrating
Slide 22: Seat development reflecting challenging market environment
DEVELOPMENT OF NUMBER OF SEATS (‘000) AND ARPU Seat development reflecting challenging market environment –2.6% • Total number of seats decreased yoy by 656 665 665 2.6% to 648,211 (9M 2024: 665,730). 634 648 o Lower order intake compared with the previous year, with a stable churn rate (0.5% in bot
Slide 23: Customer acquisition costs in line with strategic focus
DISTRIBUTION COST AND MARKETING EXPENSES IN EUR MILLION Customer acquisition costs in line with strategic focus • There were higher expenses in sales, particularly in marketing. Distribution cost Marketing expenses • Sales expenses increased by 1.9% to EUR 9.2 million (9M 2024: EUR 9.0 million). +1.
Slide 24: 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 technology environment and in senior executive positions • Proven
Slide 25: Share at a glance
NFON ON THE CAPITAL MARKET Share at a glance 13.3 Share information 4.0 31.9 ISIN DE000A0N4N52 6.0 WKN A0N4N5 Segment Prime Standard/Telecommunication Shares 16.6 million (29 March 2021) 7.0 Type of shares No-par-value bearer shares Voting rights Each share entitles the holder to one vote Trading se
Slide 26: Financial calendar
INVESTOR RELATIONS ACTIVITIES AT A GLANCE Financial calendar 26/02 Preliminary Group financial results FY 2025 16/04 Group Annual Report FY 2025 & Sustainability Report 21/05 Quarterly statement January–March 2026 24/06 Annual General Meeting 2026 20/08 Half-year financial report 2026 19/11 Quarterl
Slide 27: 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 VP Investor Relations & reporting and project management Sustainability • Previous experience includes: Deutsche Bahn, Kirchhoff Consult NFON AG
Slide 28: 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 29: NFON AG ｜ EARNINGS CALL
NFON AG | EARNINGS CALL NFON