Slide 1: Half Year Financial Report January - June 2025
No Image Half Year Financial Report January - June 2025 14.8.2025 Esa Harju, CEO Mervi Kerkelä-Hiltunen, CFO
Slide 2: Disclaimer
No Image Disclaimer This presentation has been prepared by the Company. The information on which it is based has not been independently verified by any other person. This presentation is not intended to provide the basis of any investment decision and should not be considered as a recommendation by
Slide 3: Teleste Broadband Networks
Teleste Broadband Networks International technology company building a networked and safe society while minimizing environmental impacts. Public Safety and Mobility Value Drivers • We enable fast broadband services • We guide smooth public transport • We ensure safety in public spaces
Slide 4: Our businesses and customers
No Image Our businesses and customers Broadband Networks Public Safety and Mobility Other NAM customers In public transportation Our customers serve 100 million 1.5 billion passengers using our Internet-users technology annually
Slide 5: H1 2025 highlights, H1 2025 financial review
No Image H1 2025 highlights H1 2025 financial review
Slide 6: Key Figures Q2 2025
No Image Key Figures Q2 2025 Orders received and net sales increased. Profit improved significantly. EUR million 4-6 2025 4-6 2024 change 1-6 2025 1-6 2024 change 1-12 2024 Net sales 35.9 29.5 21.5 % 68.0 66.1 2.9 % 132.5 Adjusted EBITDA 3.4 1.6 116.0 % 6.1 4.6 31.7 % 9.3 Adjusted EBIT 2.2 0.4 384.4
Slide 7: Orders received Q2 2025
No Image Orders received Q2 2025 Orders grew by 47.7%, driven by both business segments Orders received Orders received by business units, 1-6 2025 EUR million Public Safety and Mobility 38% (42%) Broadband Networks 62% (58%) Broadband Networks order intake increased by 36.9%, driven by both Europ
Slide 8: Net Sales Q2 2025
No Image Net Sales Q2 2025 Net sales increased by 21.5%, driven by North America growth Net sales Net sales, 1-6 2025 EUR million 45,0 40,1 40,0 35,9 35,0 29,5 30,0 25,0 20,0 15,0 10,0 5,0 0,0 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Slide 9: Adjusted operating result Q2 2025
No Image Adjusted operating result Q2 2025 Adjusted EBIT and EBIT improved significantly Adjusted EBIT EBIT EUR million EUR million 2,2 2,0 2,0 2,0 1,0 0,6 0,4 1,0 0,1 0,0 0,0 -0,1 -1,0 -1,0 -2,0 -2,0 -3,0 -3,0 -4,0 -4,0 -5,0 -5,0 -6,0 -6,0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023
Slide 10: Market outlook for 2025
Market outlook for 2025 Broadband Networks: • Demand in the European market is expected to remain at the previous year's level. The first investments in DOCSIS 4.0 have started during 1H 2025. • The North American investments in DOCSIS 4.0 technology are expected to significantly increase market dem
Slide 11: Financial outlook for 2025 (unchanged)
Financial outlook for 2025 (unchanged) Teleste estimates revenue for 2025 to be between 135 and 150 million euros, with adjusted operating profit in the range of 4 to 7 million euros. United States import tariffs continue to create uncertainty and may impact profitability in the short term.
Slide 12: Long-term strategic growth targets until 2030
Onko valmius laittaa tällainen Mervi / BoD Long-term strategic growth targets until 2030 Press release 22.4.2025 The company aims for: • Profitable growth in both of Teleste's business segments (Broadband Networks and Public Safety and Mobility). • An average annual revenue growth of 10% until 203
Slide 13: H1 2025 financial review
No Image H1 2025 highlights H1 2025 financial review
Slide 14: Teleste Group, H1 2025
No Image No Image Teleste Group, H1 2025 Orders received and net sales increased. Profit improved significantly. EUR million 4-6 2025 4-6 2024 Change 1-6 2025 1-6 2024 Change 2024 Net sales 35.9 29.5 21.5 % 68.0 66.1 2.9 % 132.5 Adjusted EBITDA 3.4 1.6 116.0 % 6.1 4.6 31.7 % 9.3 Adjusted EBITDA, % 9
Slide 15: Group Financials, H1'2025
No Image Group Financials, H1’2025 Orders received Q2’25 Net Sales Q2’25 Net Sales by geography H1’25 Cumulative Adjusted EBIT H1’25 • Order intake continued strong in both segments. Broadband Networks growth was driven by North America with continuing recovery in Europe, and Public Safety and Mobil
Slide 16: Operating segments H1 2025
No Image No Image Operating segments H1 2025 Broadband Networks had strong growth and profitability improved. Public Safety and Mobility had strong order intake and significant profitability improvement. Broadband Networks 4-6 2025 4-6 2024 Change 1-6 2025 1-6 2024 Change 2024 Net sales, MEUR 22.6 1
Slide 17: Broadband Networks, H1'2025
No Image Broadband Networks, H1’2025 Orders received Q2’25 Net Sales Q2’25 Net Sales by geography H1’25 Cumulative Adjusted EBIT H1’25 • Order intake continued strengthening in North America and also in Europe. • Net Sales increase primarily due to deliveries of 1.8 GHz DOCSIS 4.0 -compliant intelli
Slide 18: Public Safety and Mobility, H1'2025
No Image Public Safety and Mobility, H1’2025 Orders received Q2’25 Net Sales Q2’25 Net Sales by geography H1’25 Cumulative Adjusted EBIT H1’25 • The order intake strengthened significantly year-on-year in Q2’25 +67.3% and in H1’25 +19.2%. Orders from train manufacturers showed particularly strong gr
Slide 19: Balance sheet June 2025
No Image No Image Balance sheet 30 June 2025, EUR million Net working capital at similar level year-on-year, interest bearing net debt decreased Assets Equity and liabilities Intangibles decreased 4,9 million due 128,1 to impairment on R&D capitalizations 128,1 122,7 122,7 in Q4 2024. Equity Net
Slide 20: Cash flow from operations
No Image Cash flow from operations Operative cash flow in H1 2025 was released due to higher net sales and successful collections from customers Cash flow from operations EUR million -7,8 9,8 M€ Q2 2025 operative cash flow was 10 EUR 4.9M due to positive effects from net working capital and 4,9 5
Slide 21: Cash flow H1 2025
No Image Cash flow H1 2025: Working capital released due to improved Net sales and successful collection. Operating activities Investing activities Financing activities 1,9 2,0 12,3 0,1 0,4 1,0 0,2 8,8 3,7 0,9 Cash Profit for Cash flow Change in R&D CAPEX Leasing Bank 21 loans Changes in Cash 31.12.
Slide 22: Return on capital employed, Equity ratio
No Image No Image Return on capital employed Equity ratio At the end of the period 8% 60% 6% 5,0 % 50% 47,7 % 45,3 % 46,4 % 4% 3,2 % 40% 2% 30% 0% 20% -2% -1,5 % 10% -4% -6% 0% 30/06/2023 30/06/2024 30/06/2025 30/06/2023 30/06/2024 30/06/2025 Return on Capital Employed (ROCE) was 5.0%. The equit
Slide 23: Net gearing, Interest-bearing Net debt / adj. EBITDA
No Image No Image Net gearing Interest-bearing Net debt / At the end of the reporting period adj. EBITDA Last twelve months 100% 5,5x 90% 5,0x 80% 4,5x 4,2x 70% 4,0x 3,5x 60% 3,0x 3,0x 50% 46,9 % 41,3 % 40,3 % 2,5x 2,1x 40% 2,0x 30% 1,5x 20% 1,0x 10% 0,5x 0% 0,0x 30/06/2023 30/06/2024 30/06/2025 30/