Slide 1: Admicom Oyj Q1 2025 interim report
Admicom Oyj Build Better. Together! Q1 2025 interim report 9 April 2025 Simo Leisti, CEO Satu Helamo, CFO
Slide 2: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 3: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 4: Q1 Customer cases
Q1 Customer cases Strategic importance: • New Ultima / ERP customers • Broadening the product portfolio use • First Bauhub customers in Finland • Large customer deployment (Trackinno) • Major Swedish customer
Slide 5: Nordic Construction Forum
@ admicom Nordic Construction Forum
Slide 6: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 7: Our vision
Our vision First choice of partner in the European construction software ecosystem
Slide 8: Our mission
Our mission Our customers are +25% more productive than their peers Best workplace Comprehensive AI-enabled platform 2030: Build better. Together! 100M€ ARR Present in numerous markets Superior customer and employee experience
Slide 9: Latest news
LATEST NEWS Admicom accelerates its AI solutions development with 2.4 Meur research project The project, partially funded by Business Finland, explores the potential of artificial intelligence in improving productivity in construction and aims to make new AI-based solutions a differentiating factor
Slide 10: New operating model (effective 19.3.2025)
New operating model (effective 19.3.2025) Leadership Operations, systems and KPIs Growth operations Customer-centric Accounting service operational Platform operations excellence Business Enablement
Slide 11: Leadership team as of 19.3.2025
Leadership team as of 19.3.2025 Simo Leisti Satu Helamo Chief Financial Officer & Pekka Pulkkinen TBD CEO Deputy CEO Chief Growth Officer Chief Strategy Officer M.Sc. (Industrial Eng. & Mgmt) M.Sc. (Econ.) M.Sc. (Econ.) Teemu Uusitalo Thomas Raehalme Helena Marjokorpi Chief Product Officer Chief Tec
Slide 12: Strategy execution streams
Strategy execution streams 1. Growth acceleration 2. Internationalization 2030: 3. Unified platform experience 100M ARR 4. Target operating model “First choice of partner in 5. Equity story and incentives the European construction software ecosystem” 6. Winning culture, teams and talent 7. Accountin
Slide 13: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 14: Revenue trend continues to support expectations for recovering market
Revenue trend continues to support expectations for recovering market ▪ Positive revenue change y/y in early months of Revenue in construction, % change y/y 2025 – comparison point extremely low 5 4,3 3,4 ▪ Low demand continues to keep the construction 1,6 volumes low and overall growth expectation
Slide 15: Solid sales performance, high insolvency related churn
Solid sales performance, high insolvency related churn ▪ Sales performance good throughout the quarter, especially +10% strong in March sales bookings ▪ Net new logos developed positively driven by project management portfolio – deal size remains below average -3% ▪ Cross sales performance improving
Slide 16: Key figures of Q1 2025
Key figures of Q1 2025 ARR growth Recurring revenue Revenue growth growth 5.5%* 9.2%* 7.7%* (10.0%) (7.4%) (4.8%) Adjusted EBITDA Customer churn LTM Recurring revenue of total revenue 25.3% 6.0% 95% (30.9%) (FY2024: 5.6%) (94%) * Impact of inorganic Bauhub acquisition: ARR growth +4.2 %-points, recu
Slide 17: Key financials Q1
Key financials Q1 (EUR 1,000) Q1 2025 Q1 2024 VAR y/y Q4 2024 VAR q/q ARR 35,618 33,754 5.5 % 35,683 -0.2 % • Investments during FY2024 Recurring revenue 8,793 8,054 9.2 % 8,307 5.9 % focused on sales, product % of revenue 94.9 % 93.6 % 94.3 % development and product Revenue 9,270 8,605 7.7 % 8,808
Slide 18: ARR trend
ARR trend +5.5% Q1 q/q growth -0.2% driven by high insolvency related churn 35,7 35,6 33,8 33,7 34,0 31,6 32,6 32,5 29,6 30,0 30,7 28,9 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25
Slide 19: ARR bridge
ARR bridge 4,4 1,3 2,5 0,6 2,1 35,7 0,0 -1,2 35,6 2,2 -2,7 -0,8 0,8 -1,5 3,0 -0,9 -1,8 32,5 -2,1 2,0 2,2 29,9 0,6 -0,9 3,0 -1,4 24,4 M&A in 2024 includes Trackinno & Bauhub
Slide 20: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 21: Outlook 2025
Outlook 2025 + Market expected to improve, but speed of recovery uncertain → ARR growth Main reason for wide range for ARR growth + New and up/cross sell opportunities improving with market and investments into sales & marketing and customer experience 8-14% (2024: 35.7m) + Moderate reduction in chu
Slide 22: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 23: Build Better. Together!
S admicom Build Better. Together!