Netcompany Group A/s · OMXCOP:NETC
Netcompany Group A/s — Q1 2026 Earnings Presentation
30 slides from Netcompany Group A/s's earnings presentation, May 6, 2026
Slide 1: Netcompany
Netcompany O1 J) @) J) 6 © Copyright Netcompany
Slide 2: Important information
Important information This presentation contains forward - looking predicted in the forward - looking statements and from competing products, reliance on information statements including, but not limited to, the the past performance of Netcompany. technology, Netcompany’s ability to successfully sta
Slide 3: Presenters
Presenters André Rogaczewski Thomas Johansen NETCOMPANY CEO NETCOMPANY CFO …will go through the financial performance …will go through the for Q1 2026 and the business highlights financial guidance for for Q1 2026. 2026. 3
Slide 4: Highlights Q1 2026
HIGHLIGHTS Q1 2026 Highlights Q1 2026 Agenda +38.4% +10.8% +20.8% 2,413.9 340.3 9,845 307.3 39.8 446.6 8,150 877 1,744.3 1,967.4 Adjusted 300.6 Average 8,968 Revenue EBITDA FTEs +14.0% - 3.5pp 587.2 Q1 2025 515.1 65.2 17.6% Adjusted 14.1% Q1 2026 Non - organic EBITDA Q1 2026 Organic Gross profit 522
Slide 5: Feniks Build – an approach for AI-accelerated deliveries
Feniks Build – an approach for AI - accelerated deliveries ◼ Feniks Build enables sovereign and secure agentic AI delivery across some of Europe’s most demanding enterprise and government projects — without compromising control or data sovereignty ◼ In combination with Netcompany products and platfo
Slide 6: Netcompany and INEOS Grenadiers AI partnership
Netcompany and INEOS Grenadiers AI partnership ◼ Expanding our global presence with landmark AI partnership ◼ An active partnership with a purpose ◼ PULSE - Performance orchestrated real time data platform through three dimensions of data: ◼ Individual riders data ◼ T he logistics around the team ◼
Slide 7: Financial highlights
Financial highlights 7
Slide 8: Revenue Q1 2026
FINANCIAL HIGHLIGHTS Q1 2026 Comments Revenue Q1 2026 Organic revenue increased by 13.1% compared to DKK 1,744.3m in Q1 2025. Growth was broad - based across the Group and driven by new wins related to our products and platforms and Revenue in DKK million revenue generated from existing customers. P
Slide 9: Adjusted EBITDA margin Q1 2026
FINANCIAL HIGHLIGHTS Q1 2026 Comments Adjusted EBITDA margin Q1 2026 Organic adjusted EBITDA margin before allocated HQ costs was 16.4% – due to lower licence revenue and investment s in our Product Development unit, to accelerate the adoption of agentic AI in all our models and to build local AI Ad
Slide 10: Workforce Q1 2026
FINANCIAL HIGHLIGHTS Q1 2026 Comments Workforce Q1 2026 Netcompany employed an average of 9,845 FTEs in Q1 2026 - an increase of 1,695 FTEs or 20.8% compared to Q1 2025. Around half of the Average FTEs increased to 9,845 increase was non - organic, related to the inclusion of NBS. 9,845 545 As of 1
Slide 11: Cash flow Q1 2026
FINANCIAL HIGHLIGHTS Q1 2026 Comments Cash flow Q1 2026 The Group generated negative free cash flow of DKK 305m in Q1 2026. Adjusted for taxes paid DKK million Q1 2026 Q1 2025 % change on account, the Group generated negative free cash flow of DKK 275.2m in Q1 2026 compared to DKK 120.3 in Q1 2025.
Slide 12: Revenue visibility
FINANCIAL HIGHLIGHTS Q1 2026 Comments Revenue visibility Revenue visibility end of Q1 2026 was DKK 7,661.7m, of which contractual committed revenue amounts to DKK 5,002.9m and non - Revenue visibility for Netcompany Group contractual committed engagements amount to DKK million DKK 244.9m. 244.9 7,66
Slide 13: Guidance 2026
FINANCIAL HIGHLIGHTS Q1 2026 Comments Guidance 2026 Financial margin guidance for the full 2026, was updated on 26 March 2026. - year Netcompany now expects an adjusted EBITDA margin excluding Netcompany Banking Services (NBS) between 17% and 20% (previously between 16% and 19%). Agenda 15%- 20% 5%
Slide 14: Appendix
Appendix 14
Slide 15: Highlights Q1 2026
APPENDIX Q1 2026 Highlights Q1 2026 Agenda +38.4% +10.8% +20.8% 2,413.9 340.3 9,845 307.3 39.8 446.6 8,150 877 1,744.3 1,967.4 Adjusted 300.6 Average 8,968 Revenue EBITDA FTEs +14.0% - 3.5pp 587.2 Q1 2025 515.1 65.2 17.6% Adjusted 14.1% Q1 2026 Non - organic EBITDA Q1 2026 Organic Gross profit 522.1
Slide 16: New contracts
HIGHLIGHTS Q1 2026 Public sector, SEE & EUI New contracts Public sector, Denmark Netcompany EUI, part of a consortium, was Netcompany has partnered with the City of awarded a framework agreement with the Copenhagen to develop and maintain a new European Parliament. The scope of the PPR platform for
Slide 17: New contracts continued
HIGHLIGHTS Q1 2026 Private sector, SEE & EUI New contracts continued Netcompany has been awarded an extension Public sector, Norway of its frame agreement with NBG to deliver a Oslo Municipality’s Agency for Digitalisation has comprehensive range of speciali s ed IT selected Netcompany as the strate
Slide 18: Gross profit margin Q1 2026
APPENDIX Q1 2026 Comments Gross profit margin Q1 2026 Organic gross profit margin was 26.4% in Q1 2026, compared to 29.5% in Q1 2025 – as a result of lower licence revenue and the transfer of 150 client facing FTEs to Product Gross profit margin (before depreciation and amortisation) Development. Q1
Slide 19: Income statement Q1 2026
APPENDIX Q1 2026 Comments Income statement Q1 2026 Revenue for the Group increased by 38.4% in the quarter, of which 12.8 percentage points were DKK million Q1 2026 Q1 2025 % change organic, and 25.6 percentage points non - organic. Reported gross pro fit increased 14% to DKK Revenue 2,413.9 1,744.3
Slide 20: Work in progress overview
APPENDIX Q1 2026 Comments Work in progress overview As a total, trade receivables and work in progress increased by 39% from DKK 1,881.4m end of Q1 2025 to DKK 2,614.8m end of Q1 2026, Work in progress compared to revenue on level with revenue growth. WIP Revenue in the prevailing 12 months increase
Slide 21: Working days
APPENDIX Q1 2026 Working days 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 +1 +1 0 0 0 0 0 Denmark -2 +2 +1 Norway 0 0 0 0 0 -2 0 0 0 0 0 0 0 UK -1 +3 +1 0 0 0 0 0 Netherlands -1 +1 0 0 0 0 0 Greece -1 -2 +1 +1 0 0 0 0 Belgium -1 -1 +1 +1 +1 +1 0 0 Luxembourg -1 -2 21
Slide 22: Statement of financial position
APPENDIX Q1 2026 Statement of financial position 31 March 31 March 31 March 31 March DKK million 2026 2025 DKK million 2026 2025 Assets Equity and liabilities Goodwill 3,858.4 3,252.0 Share capital 47.5 50.0 Intangible assets 801.2 455.0 Treasury shares - 677.8 - 911.4 Tangible assets 1062.5 888.5 R
Slide 23: Free cash flow
APPENDIX Q1 2026 Free cash flow 532.4 - 549.2% 317.9 148.2 145.3 67.9 25.6 - 55.5 - 305.0 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 23
Slide 24: Cash conversion rate
APPENDIX Q1 2026 Cash conversion rate 381.4% - 223.2pp 178.5% * 104.7% 89.5% 47.0% 32.6% * Due to negative free cash flow and negative net profit in Q3 2025, cash conversion metrics are not applicable or meaningful for the period. - 176.2% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2
Slide 25: Leading Europe's digital future, responsibly
Leading Europe’s digital future, responsibly Our ambition is to become a leading modern pan-European tech company. We are positioned to achieve this by leveraging our role as a leading European IT services company with market-leading products and platforms. We are committed to enabling digitalisatio
Slide 26: Products and platforms
03. Products and platforms Our extensive portfolio of coding founda- tions, platforms, and products forms the engine of our growth strategy. These assets increasingly incorporate Al capabilities in the core that enhance automation and accelerate development cycles and thereby enable us to deliver so
Slide 27: IT spend
IT spend DKKbn in addition to total IT spend of DKK 1,368.8bn in 2025 in our xxisting markets, IT spend in ‘our target markets, consisting _ of Sweden and Germany, _ amounted DKK 924.5bn. mm Services, existing markets 002.4 { Services, target markets a7a7 Software, existing markets 706.4 Software, t
Slide 28: Market opportunities
Market opportunities Towards European market leadership Netcompany Is growing a strong presence across Europe, operating in Denmark, Norway, the UK, the Netherlands, Luxembourg, Belgium, Greece and other countries, aiming to become a leading mod- ern pan-European tech company. Our opera- tlons In No
Slide 29: Netcompany presence
Netcompany presence Netcompany presence 402 Norway 756 United Kingdom 2,986 Denmark 210 Netherlands 428 Vietnam 360 Belgium 888 Poland Average workforce 702 Luxembourg 20 .8 % 9, 845 2,923 Greece 29
Slide 30: netcompany.com
Netcompany netcompany.com