Slide 1: Admicom Oyj – Full year and Q4 results
Admicom Oyj Build better. Together! Full year and Q4 results 21 January 2026 Simo Leisti, CEO Satu Helamo, CFO
Slide 2: Agenda
Agenda Q4 and 2025 key highlights – Simo Leisti 2026 strategy and focus areas – Simo Leisti Q4 and 2025 financials – Satu Helamo Financial guidance for 2026 – Satu Helamo Q&A
Slide 3: Agenda
Agenda Q4 and 2025 key highlights – Simo Leisti 2026 strategy and focus areas – Simo Leisti Q4 and 2025 financials – Satu Helamo Financial guidance for 2026 – Satu Helamo Q&A
Slide 4: Admicom’s Q4 key highlights
Admicom’s Q4 key highlights • Q4 2025 sales performance was mixed: Overall growth below expectations with monthly sales volatility; December the strongest sales month of the year. 6% • Q4 and 2025 financial results in line with the updated guidance: Strong Q4 ARR growth profitability. • AI launch wi
Slide 5: 2025 strategy execution
2025 strategy execution Strategic shift from a One Admicom Accounting Services product-centric to a operating model, as a business unit, customer-centric merged company now called the platform approach structure Business Services Customer Success Significant investment in New role and leadership ope
Slide 6: Customer case: Franklin Oy
Customer case: Franklin Oy 50 % growth during construction downturn Selecting the right projects Reliable estimation to avoid costly mistakes Managing with real-time project visibility ”Being on top of what happens in the projects is the foundation for everything” Tino Suomela Juha Purolinna C
Slide 7: Customer case: Vexatec Oy
Customer case: Vexatec Oy Improving efficiency and streamlining construction have always been at the very core of Vexatec’s operations. This is why they are enthusiastically taking part in Admicom’s AI pilot to develop a more efficient and intelligent way to manage construction sites. “It’s impo
Slide 8: Market change showing clear signs
Market change showing clear signs • Market signals for construction are statistically turning to more positive, with a very encouraging revenue change in Nov (+11,8%). • Residential new building sector is still recovering slowly. • Price gap between new (e.g. high construction costs) and old apartme
Slide 9: Agenda
Agenda Q4 and 2025 key highlights – Simo Leisti 2026 strategy and focus areas – Simo Leisti Q4 and 2025 financials – Satu Helamo Financial guidance for 2026 – Satu Helamo Q&A
Slide 10: Mission and Vision
Mission Build better. Together! Vision Partner of choice in the European construction software ecosystem
Slide 11: Next strategy phase: Let’s grow together!
Next strategy phase: Let’s grow together! 100 M€ ARR 2026-2028: Let’s grow together! Back to >15 % organic growth rate, >60 M€ ARR Long-term aspiration beyond Current business >40 % adjusted EBITDA this strategy phase Most comprehensive and customer-centric platform 3x total addressable mark
Slide 12: Our platform for productive construction
Our platform for productive construction Customers Bid management SALES Contracts Invoices PROJECT MANAGEMENT AI agent PRODUCTION Schedule and tasks Resourcing supported Site management Safety & Quality Cost estimation Documentation workflows Collaboration Asset management Accounting Payroll BACK-OF
Slide 13: Growth drivers
Growth drivers Expand to new Grow with geographies Expand with customers M&A, organic, Land new cross-sell Revenue-, project- product-led-growth customers Extend the use of and user-based Win with sharpened Admicom solutions, monetization models customer focus & product-led-growth increased value
Slide 14: We focus on five execution streams
We focus on five execution streams Customer-centric Develop a modular, AI-enhanced platform that improves construction 1 platform and contracting professionals’ productivity 2 Go-to-market Transform our go-to-market for accelerated, scalable growth transformation International Expand our addressable
Slide 15: Phasing: We start by accelerating growth in current market
Phasing: We start by accelerating growth in current market 2028 2026 2027 Accelerated international growth Grow with primary focus in current markets Continued platform development Sharpened customer focus and phased transition from Maintain strong market position in products to customer-centr
Slide 16: 2026 strategy execution priorities
2026 strategy execution priorities 2026 Growth acceleration in Finland, next steps with platform approach and international expansion Next phase of platform development across Admicom’s existing products to support our customers with seamless AI-enabled workflows and data integrations, especially
Slide 17: Nordic Construction Forum – 10.2.2026, Helsinki
Nordic Construction Forum – 10.2.2026, Helsinki Nordic Construction Forum will be held for the second time in 10.2.2026. This year the speakers come from: Rakennusteollisuus, Franklin Oy, Nimlas Finland, Eltrea Group and Respect Project / Habeo Group. At least 200 customers and prospects will be exp
Slide 18: Agenda
Agenda Q4 and 2025 key highlights – Simo Leisti 2026 strategy and focus areas – Simo Leisti Q4 and 2025 financials – Satu Helamo Financial guidance for 2026 – Satu Helamo Q&A
Slide 19: Q4 growth below targets, profitability improving
Q4 growth below targets, profitability improving ARR growth Recurring revenue growth Revenue growth 6.0% 10.1%* 7.7%* (9.8%)* (8.9%) (7.5%) Customer churn LTM Adjusted EBITDA Recurring revenue (% of total revenue) 6.3% 33.2% 96% (5.6%) (28.4%) (94%) * Bauhub acquisition in December 2024 has inorgani
Slide 20: Key financials Q4 & FY2025
Key financials Q4 & FY2025 QUARTERLY VARIANCE ADMICOM GROUP (1,000 EUR) Q4 2025 Q4 2024 VAR y/y Q3 2025 VAR q/q FY 2025 FY 2024 VAR y/y ARR 37,834 35,683 6.0% 36,672 3.2% 37,834 35,683 6.0% Recurring revenue 9,147 8,307 10.1% 8,966 2.0% 36,248 33,561 8.0% % of revenue 96.4% 94.3% 96.5% 96.1% 94.3% R
Slide 21: ARR growth in 2025 fully organic
ARR growth in 2025 fully organic +6.0% Q4 q/q growth +3.2% 37,8 36,7 35,7 35,6 35,7 33,8 33,7 34,0 32,6 32,5 31,6 30,7 29,6 30,0 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25
Slide 22: ARR growth driven by net upsell, churn continues to be elevated
ARR growth driven by net upsell, churn continues to be elevated 5,0 - 2,4 4,4 2,2 37,8 - 0,4 - 2,2 2,5 2,1 35,7 2,2 - 2,7 0,8 - 1,5 3,0 32,5 - 0,9 - 1,8 - 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 23: Proven scalability, solid cash flow and strong debt capacity
Proven scalability, solid cash flow and strong debt capacity builds a strong foundation for growth Adjusted EBITDA, M€ and as % of revenue 45% 37% 5 35% 33% 33% 35% 14 40% 14,1 4,5 96% Almost all revenue recurring 12 12,8 20% 28% 30% 12,4 12,3 10 4 0% 25% 8 -20% 3,5 High cash conversion 6 -40% 20% 3
Slide 24: Agenda
Agenda Q4 and 2025 key highlights – Simo Leisti 2026 strategy and focus areas – Simo Leisti Q4 and 2025 financials – Satu Helamo Financial guidance for 2026 – Satu Helamo Q&A
Slide 25: Financial guidance 2026
Financial guidance 2026 ARR growth Total revenue growth Adjusted EBITDA 6-12% 5-10% 31-36% 2025: 37.8m 2025: 37.7m 2025: 32.5% * Adjustments are material items outside the normal course of business related to e.g. acquisitions, restructuring or other one-off transactions.
Slide 26: Themes affecting growth and profitability in 2026
Themes affecting growth and profitability in 2026 GROWTH PROFITABILITY Actions to improve sales performance and + mitigate churn End of high investment strategy phase, proof of improving profitability already in 2025 + +/- Improving market sentiment, high uncertainty Strategic reallocation of resour
Slide 27: Thank you! Questions please!
Thank you! Questions please! investors.admicom.fi