Teleperformance Se · EURONEXT:TEP
Teleperformance — Teleperformance Ord — FY 2025 Earnings Presentation
43 slides from Teleperformance's earnings presentation, Feb 26, 2026
Slide 1: FY 2025 results
FY 2025 results Paris, February 26, 2026
Slide 2: Disclaimer
Disclaimer All forward-looking statements reflect TP management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For a detailed description of
Slide 3: Key highlights, FY 2025 Results, Future Forward, Outlook & Capital allocation, Q&A
01. 02. 03. 04. 05. Key highlights FY 2025 Results Future Forward Outlook & Q&A update Capital allocation FY 2025 results February 26, 2026 3
Slide 4: Thomas Mackenbrock
Thomas Mackenbrock Deputy CEO FY 2025 results February 26, 2026 4
Slide 5: Key Highlights (1 of 2)
Key Highlights (1 of 2) / 2025 Group revenue: €10,209 million, up +1.3% like-for-like1 excluding the hyperinflation effect, LFL1 +1.0%, reported -0.7% All 2025 objectives met / Core Services: 2025 revenue growth of +2.7% LFL1 (reported -0.8%) in a challenging environment / 2025 Group recurring EBITA
Slide 6: Key Highlights (2 of 2)
Key Highlights (2 of 2) / Following a succession process led by Chairman Moulay Hafid Elalamy, founder and A renewed governance CEO Daniel Julien and Deputy CEO Thomas Mackenbrock, the Board has appointed Jorge Amar, an AI transformation expert, as Chief Executive Officer to supercharge the strategi
Slide 7: Resilient revenue growth in a challenging business environment
Resilient revenue growth in a challenging business environment FY 2025 revenue breakdown by activity and region / Solid growth in EMEA & APAC: +3.8% LFL1 in 2025 (after 3.5% in 2024), supported by the UK, Sub- Specialized Services Saharan Africa, APAC and multilingual hubs 15% Core Services Americas
Slide 8: Well diversified client portfolio with good momentum in key verticals
Well diversified client portfolio with good momentum in key verticals FY25 revenue breakdown by vertical FMCG 2 Other / Strong momentum in: Automotive 3% 3% 3% Healthcare 7% • Public sector and FMCG in both EMEA&APAC and Energy & Utilities the Americas regions with double digit growth 4% Public sect
Slide 9: Strong traction in key business lines of the Future Forward strategic plan
Strong traction in key business lines of the Future Forward strategic plan FY25 revenue breakdown by business line / Strong growth in Data services, Sales and Back- Specialized office/BPO Services 15% / Trust & Safety with revenue decrease Other1 / Care posting growth broadly in line with the overal
Slide 10: New Chief Executive Officer and interim Chief Financial Officer
New Chief Executive Officer and interim Chief Financial Officer Jorge Amar Benoît Gabelle Benoit has been the Deputy CFO of TP Group since 2023 Jorge Amar leads McKinsey’s digital customer-care group and has notably supported the structuring, acquisition and globally. In this capacity, he seeks to t
Slide 11: A renewed Board of directors
A renewed Board of directors / Cooptation of 4 new members1, including Jorge Amar and Thomas Mackenbrock Sheikha Hanadi bint Nasser Al Thani Thomas Mackenbrock A Qatari entrepreneur, investor, and business leader whose Deputy CEO of TP since 1st Oct. 2024, CEO of the Majorel group career embodies th
Slide 12: Key highlights, FY 2025 Results, Future Forward, Outlook & Capital allocation, Q&A
01. 02. 03. 04. 05. Key highlights FY 2025 Results Future Forward Outlook & Q&A update Capital allocation FY 2025 results February 26, 2026 12
Slide 13: Olivier Rigaudy
Olivier Rigaudy Deputy CEO & Group CFO FY 2025 results February 26, 2026 13
Slide 14: Resilient performance in a challenging business environment
Resilient performance in a challenging business environment €m FY25 FY24 €/$ exchange rate (12-month average) €1 = US$1.13 €1 = US$1.08 Revenue 10,209 10,280 Reported growth -0.7% Like-for-like growth exc. hyperinflation1 +1.3% EBITDA before non-recurring items2 2,006 2,096 % of revenue 19.7% 20.4%
Slide 15: Resilient performance in a challenging business environment
Resilient performance in a challenging business environment / Significant negative FX impact (132) +227 • Stronger euro since Q2-25 10,280 362 10,209 • Negative impact from hyperinflation +196 -9.3% LFL / Specialized Services 9,918 • Consolidation of ZP activities since Feb. 1, +2.7% LFL 2025 and Ag
Slide 16: Adverse FX environment in 2025
Adverse FX environment in 2025 -3.5% FX impact on full year revenue from strengthened euro against most currencies 33% 32% 6% 5% 5% 2% 2% 2% 1% 1% 1% 1% 1% Euro US dollar Pound Colombian Indian Egyptian Brazilian Yuan Philippine Turkish lira Canadian Mexican Argentine sterling peso rupee pound real
Slide 17: Recurring EBITA evolution
Recurring EBITA evolution FY25 FY24 / Strong EBITA margin improvement in Recurring EBITA (€m) Specialized Services in H2 €m Margin (%) €m Margin (%) / +210 bps in H2-25 vs. H2-24 mainly Americas 498 12.4% 518 12.4% driven by efficiency measures at LLS Europe, MEA & Asia-Pacific 510 10.9% 515 11.2% /
Slide 18: Recurring EBITA evolution
Recurring EBITA evolution Main drivers in the change in recurring EBITA margin 15.0% -70 bps +5 bps 14.8% +60 bps -15 bps ~ -20 bps / Significant negative FX impact 14.6% / Additional impact of IT costs / Specialized Services: • TLS impact1 offset by ZP contribution • LLS margin improvement contribu
Slide 19: Resilient operating profitability
Resilient operating profitability €m FY 25 FY 24 Revenue 10,209 10,280 / Significant negative FX impacts due to a stronger euro since Q2-25 EBITA before non-recurring items 1,485 1,537 % of revenue 14.6% 15.0% / Lower non-recurring items, despite non-cash Amortization of intangible assets (218) (220
Slide 20: Stable net profit before non-recurring items excluding FX impacts
Stable net profit before non-recurring items excluding FX impacts €m FY25 FY24 / Stable net financing costs, but lower financial result Operating profit 1,055 1,082 due to unfavorable exchange rate gains and losses Financial result (269) (213) / €56m improvement in P&L accounting tax charge o.w. oth
Slide 21: Strong FCF generation in H2 2025
Strong FCF generation in H2 2025 €m FY25 FY24 / Strong FCF generation in H2 2025 Cash flow1 1,064 1,195 • €642m in H2 2025 (vs. €636m in H2 2024) • Sequential improvement in H2 vs. H1 2025 Change in working capital 52 103 thanks to strong working capital Net capital expenditure (246) (214) managemen
Slide 22: Strong balance sheet maintained
Strong balance sheet maintained 3,890 +1023 3,966 (870) +4822 Net debt/EBITDA ratio below 2x while: Lease +3621 Lease 796 783 / Returning 42% of the 2025 FCF to shareholders through: • €114m share buy-back • €248m paid in dividends / Acquiring ZP and establishing AI partnerships Net debt as of Net f
Slide 23: Large and secured access to liquidity
Large and secured access to liquidity • Strong Investment Grade S&P credit rating: BBB • Successful €500 million 5-year bond issuance in January 2025 with an annual coupon of 4.25% Debt by financing source Fixed Debt vs. Variable Debt (post hedging) as of December 31, 2025 as of December 31, 2025 US
Slide 24: Key highlights, FY 2025 Results, Future Forward, Outlook & Capital allocation, Q&A
01. 02. 03. 04. 05. Key highlights FY 2025 Results Future Forward Outlook & Q&A update Capital allocation FY 2025 results February 26, 2026 24
Slide 25: Value Creation Office in full swing to implement Future Forward
Value Creation Office in full swing to implement Future Forward Selected examples 150+ Go-to-market initiatives including verticals growth, A Internal AI Transformation & Efficiency Program win-room activation and seller upskilling Formation of a “Value Creation Office” to fast- 90+ Efficiency initi
Slide 26: Internal AI & Efficiency program
Internal AI & Efficiency program Internal AI Transformation Cost optimization Organizational redesign Deployment of AI across core Structural reduction of SG&A and Simplified structures and operations to increase other direct cost optimization processes efficiency and reduce manual through delayerin
Slide 27: Building AI enabled functional & industry-specific solution suites
Building AI enabled functional & industry-specific solution suites Functional solution suites Industry solution suites Augmenting human talent with AI AI-augmented financial services Hybrid human + agentic CX AI-enabled insurance operations AI-enabled revenue generation Next-gen healthcare augmented
Slide 28: TP.ai FAB with growing momentum
TP.ai FAB with growing momentum 270+ 500+ 25+ 25+ AI projects in 2025 4 … Note: Including existing AI solutions that became part of the respective FAB solution suites FY 2025 results February 26, 2026 28
Slide 29: FAB deployment examples
FAB deployment examples Leading healthcare Large bank Large telco in Global Tech insurer in the U.S in Asia Latin America company Customer Care Contact center Debt Recovery Sales AI-powered medical/policy Deployed an omnichannel AI Programming agentic voice By deploying agentic AI layer on knowledge
Slide 30: FAB Connect: combining humans with agentic AI
FAB Connect: combining humans with agentic AI Overview FAB Connect combines human with DEMO EXAMPLE agentic AI. In addition, FAB Connect’s unique orchestration capabilities are developed to enable Human & AI operations with key differentiations: 1. Leverage TP’s decades of process design expertise 2
Slide 31: FAB Connect: Powered by a responsible AI Control Center
FAB Connect: Powered by a responsible AI Control Center The FAB Connect platform is DEMO EXAMPLE being built to have a “Responsible AI Control Center” with configurable guardrails and real-time alerts to enable proactive risk management, especially in higher-risk industries (e.g., Banking, Healthcar
Slide 32: Sales a strategic growth area
Sales a strategic growth area Lead enablement Intelligent insights Sales rep productivity Support enablement MARKET DYNAMICS TP’s STRATEGY TP’s RIGHT TO WIN TP’s IMPACT €15bn+ addressable outsourced AI + talent + processes Scale and global reach Higher revenue per expert market, growing high single
Slide 33: Ramping up Data Services for AI
Ramping up Data Services for AI Data annotation Data monetization and Model evaluation/training, Data collection Data engineering & labeling licensing RLHF2, preference ranking MARKET DYNAMICS TP’s STRATEGY TP’s RIGHT TO WIN TP’s IMPACT Estimated market growth from 2025 Human-in-the-loop AI at scale
Slide 34: Key highlights, FY 2025 Results, Future Forward, Outlook & Capital allocation, Q&A
01. 02. 03. 04. 05. Key highlights FY 2025 Results Future Forward Outlook & Q&A update Capital allocation FY 2025 results February 26, 2026 34
Slide 35: 2026 financial objectives
2026 financial objectives / Group LFL1 revenue growth: 0%-2%, in an uncertain market context, anticipated Revenue growth soft start in the year with Q1 revenue expected below the yearly guidance range High EBITA margin / Stable recurring EBITA margin at 14.6%2 Strong cash / Net free cash flow genera
Slide 36: Dividends
Dividends Dividend per share (€) ² 5.00 110% Payout 4.501 4.50 4.20 4.00 3.85 3.85 90% 3.50 3.30 70% 3.00 54% 2.50 2.40 2.40 46% 50% 35% 35% 35% 35% 35% 36% 35% 35% 36% 38% 2.00 28% 30% 43% 26% 30% 1.50 1.20 1.30 1.85 1.90 0.92 1.00 0.68 0.80 10% 0.33 0.46 0.50 0.00 -10% 2010 2011 2012 2013 2014 201
Slide 37: Financial ambitions for 2028
Financial ambitions for 2028 SUSTAIN MID SINGLE BALANCE SHEET DIGIT GROWTH STRENGTH WITH HIGH FINANCIAL TARGET FLEXIBILITY 4-6% TARGET ORGANIC CONSOLIDATED LEVERAGE OF 1.2x YEARLY REVENUE GROWTH IN 2028 NET DEBT / EBITDA COST HIGH NET FCF DISCIPLINE TARGET RECURRING GENERATION AND MARGIN EBITA MARGI
Slide 38: Key highlights, FY 2025 Results, Future Forward, Outlook & Capital allocation, Q&A
01. 02. 03. 04. 05. Key highlights FY 2025 Results Future Forward Outlook & Q&A update Capital allocation FY 2025 results February 26, 2026 38
Slide 39: APPENDIX
APPENDIX FY 2025 results February 26, 2026 39
Slide 40: Alternative Performance Measures
Alternative Performance Measures Change in like-for-like revenue: Change in revenue at constant exchange rates and scope of consolidation = (current-year revenue - last-year revenue at current-year rates - revenue from acquisitions at current-year rates) / last-year revenue at current-year rates. EB
Slide 41: Revenue by activity
Revenue by activity Like-for-like LFL excl. FY25 FY24 Revenue (€m) change1 (%) hyperinflation (%) Core Services 8,724 8,791 +2.7% Americas 4,026 4,190 +1.4% Europe, MEA & APAC 4,698 4,601 +3.8% Specialized Services 1,485 1,489 -9.3% TOTAL 10,209 10,280 +1.0% +1.3% Like-for-like LFL excl. Q4-25 Q4-24
Slide 42: Revenue by activity
Revenue by activity Like-for-like LFL excl. Q3-25 Q3-24 Revenue (€m) change1 (%) hyperinflation (%) Core Services 2,143 2,140 +3.9% Americas 969 1,010 +2.4% Europe, MEA & APAC 1,174 1,130 +5.2% Specialized Services 364 380 -12.3% TOTAL 2,507 2,520 +1.5% +1.5% Like-for-like LFL excl. Q2-25 Q2-24 Reve
Slide 43: Impact from hyperinflation in Argentina and Turkey
Impact from hyperinflation in Argentina and Turkey IAS 29 Impact Q1-25 Q2-25 Q3-25 Q4-25 FY25 Like-for-like revenue growth1 (%) +1.7% +1.3% +1.5% -0.6% +1.0% IAS 29 impact on like-for-like revenue growth (%) -0.1% -0.3% 0.0% -0.6% -0.3% Like-for-like growth adjusted for IAS 29 impact (%) +1.8% +1.6%