Slide 1: Interim report January - September 2025
No Image Interim report January - September 2025 5.11.2025 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: Key Figures Q3 2025: Strong growth in net sales and profit
No Image Key Figures Q3 2025 Strong growth in net sales and profit EUR million 7-9 2025 7-9 2024 change 1-9 2025 1-9 2024 change 1-12 2024 Net sales 34.5 29.9 15.2% 102.5 96.0 6.8% 132.5 Adjusted EBITDA 3.5 2.5 38.1% 9.6 7.2 34.0% 9.3 Adjusted EBIT 2.3 1.3 72.9% 5.9 3.3 77.9% 4.2 EBIT 2.2 1.1 91.7%
Slide 6: Orders received Q3 2025: Orders stayed on the same level
No Image Orders received Q3 2025 Orders stayed on the same level Orders received Orders received by business units, 1-9 2025 EUR million Public Safety and Mobility 43% Broadband (45%) Networks 57% (55%) Broadband Networks Q3 order intake decreased by 11.4% YoY. Orders in Europe increased, while or
Slide 7: Net Sales Q3 2025
No Image Net Sales Q3 2025 Strong growth in Net Sales, both segments performed well Net sales Net sales, 1-9 2025 EUR million 40 35,2 34,5 35 29,9 30 25 20 15 10 5 0 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Slide 8: Adjusted operating result Q3 2025
No Image Adjusted operating result Q3 2025 Adjusted EBIT and EBIT continued improving Adjusted EBIT EBIT EUR million EUR million 3,0 3,0 2,2 2,5 2,3 2,0 1,1 2,0 1,0 0,5 1,5 0,0 1,0 0,9 0,5 -1,0 0,5 -2,0 0,0 -3,0 -0,5 -1,0 -4,0 -1,5 -5,0 -5.5 -2,0 -6,0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 9: 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 technology have started during 2025 in parts of the market. • The North American investments in DOCSIS 4.0 technology are expected to dr
Slide 10: Financial outlook for 2025 (specified)
Financial outlook for 2025 (specified) 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. The company anticipates that profit for the period will be toward the upper end of the guidance range. Import tariff
Slide 11: Content
Content 1. Q3 2025 highlights 2. Q3 2025 financial review 11
Slide 12: Teleste Group, Q3 2025
No Image No Image Teleste Group, Q3 2025 Strong growth in net sales and profit EUR million 7-9 2025 7-9 2024 Change 1-9 2025 1-9 2024 Change 2024 Net sales 34.5 29.9 15.2% 102.5 96.0 6.8% 132.5 Adjusted EBITDA 3.5 2.5 38.1% 9.6 7.2 34.0% 9.3 Adjusted EBITDA, % 10.2% 8.5% 1.7 ppt 9.4% 7.5 % 1.9 ppt 7
Slide 13: Group Financials, Q3'2025
No Image Group Financials, Q3’2025 Orders received Q3’25 Net Sales Q3’25 Net Sales by geography Jan-Sept’25 Cumulative Adjusted EBIT Q3’25 • Order intake was on the last year’s level. Broadband Networks orders grew in Europe, while North America’s order intake was strong in previous months. Public S
Slide 14: Operating segments Q3 2025
No Image No Image Operating segments Q3 2025 Both segments demonstrated significant profitability improvements Broadband Networks 7-9 2025 7-9 2024 Change 1-9 2025 1-9 2024 Change 2024 Net sales, MEUR 20.8 18.1 14.9% 62.9 58.2 8.0% 78.2 Adjusted EBITDA, MEUR 3.1 2.2 40.8% 8.6 7.1 19.7% 8.9 Adjusted
Slide 15: Broadband Networks, Q3'2025
No Image Broadband Networks, Q3’2025 Orders received Q3’25 Net Sales Q3’25 Net Sales by geography Jan-Sept’25 Cumulative Adjusted EBIT Q3’25 • Q3’25 orders in Europe increased in both DOCSIS 4.0 intelligent networks and the video business, while in North America orders were at lower level due to the
Slide 16: Public Safety and Mobility, Q3'2025
No Image Public Safety and Mobility, Q3’2025 Orders received Q3’25 Net Sales Q3’25 Net Sales by geography Jan-Sept’25 Cumulative Adjusted EBIT Q3’25 • Order intake increased during Jan-Sept by 17%. The growth during this year has been primarily driven by a strong increase in orders from public trans
Slide 17: Net working capital improved, interest bearing net debt decreased
No Image No Image Balance sheet 30 September 2025, EUR million Net working capital improved year-on-year, interest bearing net debt decreased Assets Equity and liabilities Intangibles decreased 4.9 million due to impairment on R&D capitalizations 129,1 in Q4 2024. 129,1 118,7 118,7 Net Working C
Slide 18: Cash flow from operations
No Image Cash flow from operations Operative cash flow in Q3 2025 was positive due to higher net sales and efficient working capital management Cash flow from operations EUR million -7,8 M€ 10 4,6 Q3 2025 operative cash flow was 5 3,5 EUR 4.6M due to positive effects 0,9 from net working capital a
Slide 19: Cash flow Q3 2025
No Image Cash flow Q3 2025: Working capital released due to improved profitability and networking capital management Operating activities Investing activities Financing activities 3,8 3,3 0,0 0,3 1,4 0,5 4,4 9,8 8,8 5,1 0,2 2,2 Cash Profit for Cash flow Change R&D CAPEX Acq. of Leasing Dividends Ban
Slide 20: Return on capital employed and Equity ratio
No Image No Image Return on capital employed Equity ratio At the end of the period 8% 7,1 % 60% 6% 50% 48,2 % 48,2 % 45,6 % 4% 40% 2% 0,6 % 30% 0,2 % 0% 20% -2% 10% -4% -6% 0% 30.9.2023 30.9.2024 30.9.2025 30.9.2023 30.9.2024 30.9.2025 Return on Capital Employed (ROCE) was 7.1%. The equity ratio
Slide 21: Net gearing and 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 4,0x 70% 4,0x 3,6x 3,5x 60% 3,0x 50% 42,8 % 43,7 % 2,5x 40% 35,9 % 1,9x 2,0x 30% 1,5x 20% 1,0x 10% 0,5x 0% 0,0x 30.9.2023 30.9.2024 30.9.2025 30.9.2