Slide 1: FY 2025 results
Earnings Call, 16 April 2025, online FY 2025 results NFON AG ｜ EARNINGS CALL
Slide 2: Presenting today's speakers
WHO YOU HAVE ON THE CALL TODAY Presenting today’s speakers Andreas Wesselmann Alexander Beck CEO CFO NFON AG ｜ EARNINGS CALL
Slide 3: Presentation chapters
Presentation chapters 1. Business highlights 2. Financials 3. Guidance 4. Q&A 5. Appendix NFON AG ｜ EARNINGS CALL
Slide 4: Challenging environment with increasing structural complexity
MARKET DYNAMICS Challenging environment with increasing structural complexity Macroeconomic environment AI disruption reshapes the Digital sovereignty becomes a continues to weigh on demand SaaS landscape tangible buying factor Weak investment climate, particularly Rapid AI progress (e.g. agentic AI
Slide 5: Executing transformation towards AI-driven platform while improving operational discipline
BUSINESS HIGHLIGHTS Executing transformation towards AI-driven platform while improving operational discipline Solutions with tangible Commercial excellence & Partner & customer Market positioning & business value monetisation enablement European differentiation • AI-powered communication • Dedicate
Slide 6: Solutions with tangible business value in short time
NFON APPROACHING THE EVOLVING CUSTOMER DEMAND Solutions with tangible business value in short time NFON AG ｜ EARNINGS CALL
Slide 7: Partners actively support NFON's transformation
ENABLING SCALABLE, SOLUTION-BASED GROWTH Partners actively support NFON’s transformation NEXUS CONNECT 2026 – operational execution • 200+ participants from partners across core markets • Six keynotes & three breakout sessions • Key building blocks of NFON Next 2027 AI Hackathon – from enablement to
Slide 8: Financials
Financials NFON AG ｜ EARNINGS CALL
Slide 9: Resilient profitability despite muted revenue growth
KEY FINANCIAL FIGURES Resilient profitability despite muted revenue growth Revenue Adjusted EBITDA Key financial Up Up performance indicators 2.0% 2.4% to EUR 89.1 million to EUR 12.6 million Rec. revenue Share rec. revenue Seats Blended ARPU Other financial Up Stable Down Up performance 1.1% 92.1%
Slide 10: Revenue growth driven by strong project business
DEVELOPMENT OF REVENUE IN EUR MILLION Revenue growth driven by strong project business • Total revenue increased by 2.0% to +2.0% EUR 89.1 million (2024: EUR 87.3 million). 87.3 89.1 82.3 7.1 • Recurring revenues rose by 1.1% to EUR 82.0 6.2 million (2024: EUR 81.1 million), representing 5.2 81.1 82
Slide 11: Gross margin continues to develop positively
DEVELOPMENT OF COST OF MATERIALS (adj.) 1 IN EUR MILLION AND GROSS MARGIN 2 Gross margin continues to develop positively • Material expenses remained broadly stable at EUR 12.9 million (2024: 12.9 million), corresponding to a slight increase of 0.4%. • Gross profit increased by 2.3% to EUR 76.2 mill
Slide 12: Personnel expenses in line with strategic focus
ADJUSTED 1 PERSONNEL EXPENSES IN EUR MILLION Personnel expenses in line with strategic focus • Personnel expenses increased by 4.6% to EUR 36.5 million (2024: EUR 34.9 million). • The average number of employees rose to +4.6% 36.5 34.9 425 (2024: 410), mainly due to expansion of AI 33.4 development
Slide 13: Adjusted EBITDA remains solid
ADJUSTED EBITDA IN EUR MILLION Adjusted EBITDA remains solid • EBITDA increased by 5.1% to EUR 11.4 million 2.4% 12.6 (2024: EUR 10.8 million). 12.3 1.2 • Adjusted EBITDA increased by around 2.4% 1.5 to EUR 12.6 million (2024: EUR 12.3 million). o The increase mainly reflects improved operational pe
Slide 14: Reinvesting into strategic growth
CASH FLOW FOR FUTURE SUCCESS IN EUR MILLION Reinvesting into strategic growth • Operating cash flow amounted to EUR 8.4 million (2024: EUR 9.4 million), reflecting a slight decline year-on-year. 8.4 • Investing cash flow at EUR –6.0 million (2024: EUR –12.9 million), with the prior year mainly impac
Slide 15: Guidance
Guidance NFON AG ｜ EARNINGS CALL
Slide 16: Guidance reflects external headwinds and continued strategic progress
OUTLOOK Guidance reflects external headwinds and continued strategic progress What drives our outlook Short-term headwinds Execution and transformation Efficiency and quality • Muted SME demand and slower • Expansion of AI product portfolio (Nia, • Strict cost discipline and margin focus conversion
Slide 17: From stable 2025 performance to cautious growth expectations
OUTLOOK KEY FINANCIAL FIGURES From stable 2025 performance to cautious growth expectations Result 2025 Outlook 2026 Mid-term 2027e We expect total We expect total revenue to grow Total revenue EUR 89.1 million revenue to grow low to mid double-digit % rate. single-digit % range. We expect adjusted W
Slide 18: Q&A
Q&A NFON AG ｜ EARNINGS CALL
Slide 19: Thank you
THANK YOU for your time and attention Corporate.nfon.com ir- info@nfon.com NFON AG ｜ EARNINGS CALL
Slide 20: Appendix
Appendix NFON AG ｜ EARNINGS CALL
Slide 21: Investment highlights
MOMENTUM – INNOVATION – VALUE Investment highlights Leading market position in Europe We combine strong market positioning with a resilient business model that remains stable amid geopolitical volatility. 1 Attractive market environment We operate in a high-growth market with strong momentum – espec
Slide 22: Accelerating our NFON Next 2027 strategy
STRATEGY Accelerating our NFON Next 2027 strategy Leading in AI Strengthening customer & partner We harness AI across our product portfolio and our proximity organisation, strengthening our expertise and Strengthening customer & partner proximity shaping the future of intelligent business We deepen
Slide 23: Financials FY'25 reported
OVERVIEW Financials FY’25 reported kEUR FY 2025 2025 2024 Change Revenue 89.1 87.3 +2.0% Revenue growth supported by stable recurring revenues and sustained partner channel performance. Recurring revenue 82.0 81.1 +1.1% Adj. EBITDA 12.6 12.3 +2.4% Adjusted EBITDA demonstrating disciplined expense Gr
Slide 24: Overview of prior-year adjustments (FY 2024)
ADDITIONAL INFORMATION Overview of prior-year adjustments (FY 2024)* Adjustments (P&L impact) Impact Deferred tax correction (IAS 12) Purely accounting-related adjustment • Adjustment of deferred tax position: EUR +0.36 million • No impact on cash flows liability • No impact on operational performan
Slide 25: Seat development reflecting challenging market environment
DEVELOPMENT OF NUMBER OF SEATS (‘000) AND ARPU Seat development reflecting challenging market environment • Total number of seats decreased by 2.7% yoy to 647,384 (2024: 665,449), remaining 656 665 –2.7% below expectations, partly due to customer 647 consolidation in a still subdued market environme
Slide 26: Customer acquisition costs in line with strategic focus
DISTRIBUTION COST AND MARKETING EXPENSES IN EUR MILLION Customer acquisition costs in line with strategic focus • Sales expenses increased by 0.8% to EUR 12.1 million (2024: EUR 12.0 million) in line Distribution cost Marketing expenses with higher overall revenue and a greater share of partner-driv
Slide 27: Sustainability: Our path to impact and compliance
CLEAR PRIORITIES-MEASURABLE PROGRESS Sustainability: Our path to impact and compliance E S G • Environmental policy: Framework for • Diversity, Equity & Inclusion (DEI) policy: • Updated Code of Ethics & new Supplier Code of sustainable decision-making embedded in Framework to foster an inclusive an
Slide 28: Our Management Board
MEET THE TEAM Our Management Board Andreas Wesselmann Alexander Beck CEO CFO • At NFON since 2024 • At NFON since 2025 • > 20 years of experience in an international working • > 20 years of experience across retail, FMCG, environment and in senior executive positions software and technology • Proven
Slide 29: Share at a glance
NFON ON THE CAPITAL MARKET Share at a glance 14.1 Share information 4.0 ISIN DE000A0N4N52 38.1 6.0 WKN A0N4N5 Segment Prime Standard/Telecommunication Shares 16.6 million (29 March 2021) Type of shares No-par-value bearer shares 8.3 Voting rights Each share entitles the holder to one vote Trading se
Slide 30: Financial calendar
INVESTOR RELATIONS ACTIVITIES AT A GLANCE Financial calendar 16 Apr. Annual Report and Sustainability Report 2025 11 May Equity Forum 21 May Q1 2026 quarterly statement 24 Jun. Annual General Meeting 20 Aug. H1 2026 half-yearly report 21 Sep. Baader Investment Conference 19 Nov. Q3 2026 quarterly st
Slide 31: Investor Relations contact and more
STAY IN TOUCH Investor Relations contact and more… • At NFON since 2023 Friederike Thyssen • > 15 years of experience in investor relations, sustainability VP Corporate Affairs & reporting and project management Investor Relations • Previous experience includes: Deutsche Bahn, Kirchhoff Consult NFON
Slide 32: Disclaimer
Disclaimer This publication contains forward-looking statements regarding NFON AG or the NFON Group and its subsidiaries, including assessments, estimates and forecasts regarding the financial position, business strategy, plans and objectives of the management and future operations of NFON AG and th
Slide 33: NFON AG ｜ EARNINGS CALL
NFON AG | EARNINGS CALL NFON