Slide 1: Cerillion plc Final Results for the year to 30 September 2025
Cerillion plc Final Results for the year to 30 September 2025 24 November 2025 1
Slide 2: Presentation Team
PRESENTATION TEAM Louis Hall Andrew Dickson Founder & CEO CFO Led the MBO of the original business Joined in 2022 from Logica plc in 1999 and the IPO of Cerillion in 2016. Over 20 years’ experience; early career at Deloitte LLP. Over 30 years’ experience in the software industry Previously
Slide 3: Key Highlights
KEY HIGHLIGHTS Year to 30 September 2025 > Group continued to trade well Net cash (£m) 34.4 - New highs across key financial measures 29.9 24.7 20.2 - Total new orders up 25% to record £47.6m (2024: £38.1m) 13.2 - Back-order book up 21% as at 30 September to high of £56.9m (30 September 2024: £46.9m
Slide 4: Operational Highlights
OPERATIONAL HIGHLIGHTS > Major new implementations completed with - Virgin Media Ireland Major Transformation Project Mobile migration completed New Geography/New Market Fixed wire migration in planning “After the extensive selection process our evaluation team - Paratus (Southern Africa) visited th
Slide 5: Cerillion at a Glance
CERILLION AT A GLANCE Mission critical BSS/OSS1 software for the global telecoms market 2025 REVENUE c.70 customer installations 1. Business Support Systems / Operations Support Systems across c.45 countries £45.4m (2024: £43.8m) 2025 ADJ PBT £21.8m (2024: £19.8m) c. 386 staff UK c. 133 India c. 220
Slide 6: BSS/OSS - Monetising Network Infrastructure
BSS/OSS - MONETISING NETWORK INFRASTRUCTURE Business Support Operations Support Systems (“BSS”) Systems (“OSS”) Digital Engagement Planning Product Offerings Capacity Management Infrastructure Customers Sales Service Connection Network Work-flow Work-flow Customer Care Balance Management Billing Cha
Slide 7: Cerillion Product Suite
CERILLION PRODUCT SUITE * Dealer Sales Mi CRM Plus & Self Service «: Ecommerce: 0 Mobile App Omni-channel + Account Management * Android / iOS Apps Lead & Opportunity Mgt + Service Management + Account & Service Mgt Configure-Price-Quote (CP) + Composable Digital Experience ee Sales & Order Manageme
Slide 8: Product Delivery Model
PRODUCT DELIVERY MODEL Software-as-a-Service MANAGED Pre-integrated BSS/OSS modules SERVICE SUPPORT Common product for all customers LICENSE End-to-end or modular delivery MODULAR PRIVATE CLOUD PUBLIC CLOUD ENTERPRISE Large transformation projects PRODUCT SUITE Cloud or on-premise deployment Term li
Slide 9: Global Customer Base
GLOBAL CUSTOMER BASE 21-Nov-25 Commercial-In-Confidence Diverse customer base across c.45 countries 9
Slide 10: BSS/OSS Market Size
BSS/OSS MARKET SIZE 70 4.4% CAGR 60.4 60 “The combined telco software solution market will grow 50 from $48.7 billion in 2024 to $60.4 billion in 2029 as telcos 48.7 invest in the systems that will provide new levels of 40 automation consistent with their commitment to embrace $bn AI and automation
Slide 11: Barriers to Entry
BARRIERS TO ENTRY 20+ years R&D Access to the for a full suite specialist solution resources Investment Expertise BSS/OSS is A continually mission-critical moving target software Credibility Market Evolution 11
Slide 12: Competitive Landscape
COMPETITIVE LANDSCAPE Large ISVs1 Equipment Vendors Small ISVs1 SaaS/Best-of-Breed Independent Analysis OUR DIFFERENTIATORS OUR DIFFERENTIATORS OUR DIFFERENTIATORS OUR DIFFERENTIATORS Lower TCO2 Lower TCO2 Greater breadth/depth Lower TCO2 Shorter time-to-market Shorter time to market B
Slide 13: 2025 KPIs
2025 KPIs Revenue (£m) Adj PBT1 (£m) Adj EBITDA margin2 (%) 45.4 43.8 21.8 50.9 39.2 19.8 46.2 47.4 16.8 40.3 42.0 32.7 26.1 11.9 27.9 20.8 8.5 3.7 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 Recurring3 & annualised term licence4 revenue (£m) Net cash (£
Slide 14: 2025 Financial Highlights
2025 FINANCIAL HIGHLIGHTS £m 2025 2024 Back-order book up 21% to £56.9m (2024: £46.9m) Orders 47.6 38.1 FY25 margins at record levels Back-order book1 56.9 46.9 Total revenue 45.4 43.8 Improvement in adj EBITDA margin reflected favourable FX, higher day rate on implementation projects and Soft
Slide 15: Cash Generation
CASH GENERATION £m 2025 2024 Adj. EBITDA 23.1 20.7 Increase in working capital driven by higher accrued income due to upfront licence revenue Increase in working capital (5.8) (6.1) recognition Cash generated from operations 17.3 14.6 Free cash flow used to fund payment of Capitalisation of inta
Slide 16: Summary Consolidated Income Statement
SUMMARY CONSOLIDATED INCOME STATEMENT 2025 2024 £’000 Total revenue 45,358 43,751 Continued investment in R&D with c. 17,500 days worked in FY25, an increase of over 30% vs. FY24 Cost of sales (8,390) (8,549) Gross profit 36,968 35,202 Opex broadly flat despite higher headcount and inflation Gro
Slide 17: Summary Consolidated Balance Sheet
SUMMARY CONSOLIDATED BALANCE SHEET £’000 Consolidated 2025 2024 Non-current assets Goodwill 2,053 2,053 Other intangible assets 3,320 2,626 Balance sheet remains very strong with net cash of 546 Property, plant and equipment 567 £34.4m (2024: £29.9m) Right of use assets 2,797 2,181 Trade and other
Slide 18: New Logo Sales Pipeline, New Orders and Back-Order
NEW LOGO SALES PIPELINE, NEW ORDERS AND BACK-ORDER Prospective Customers 275 New Orders (£m) 262 48 Unweighted (£m)1 243 209 38 33 32 146 29 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Prospective Customers Back-order Book (£m)2 Weighted (£m)1 57 65 45 45 47 57 42 51 40 26 2021 2022 2023 2024
Slide 19: Summary and Outlook
SUMMARY AND OUTLOOK New Orders (£m) > New highs across key financial measures 48 38 > New orders up 25% 33 32 29 > New customer pipeline at record level, including substantial potential deals > Strong financial profile 2021 2022 2023 2024 2025 - good cash generation and net cash of £34.4m - supports
Slide 20: Supplementary Information
Supplementary Information 20
Slide 21: Board of Directors
BOARD OF DIRECTORS Alan Howarth Louis Hall Andrew Dickson Guy O’Connor Mike Dee Chairman CEO CFO Non-executive Director Non-executive Director Alan Howarth was a partner in Louis Hall is the CEO and Andrew joined Cerillion as Guy is a co-founder of Mike Dee served as CEO of Ernst & Young where he fo
Slide 22: Major Shareholders
MAJOR SHAREHOLDERS1 As at 06 November 2025 MAJOR SHAREHOLDERS % MAJOR SHAREHOLDERS % Louis Hall 20.12 Brooks Macdonald Asset Management (EO) 1.49 Gresham House Asset Management 9.77 Interactive Investor (EO) 1.47 Rathbone Investment Management 8.26 Evelyn Partners (Retail) 1.25 JPMorgan Asset Manage
Slide 23: Capital Allocation Policy
CAPITAL ALLOCATION POLICY Maximising shareholder returns Organic growth Strategic Other Dividend policy investments considerations Continued Progressive dividend Strategic investments Maintain strong investment to: policy: to support longer term balance sheet to enhance offering growth support str
Slide 24: Summary Consolidated Cash Flow Statement
SUMMARY CONSOLIDATED CASH FLOW STATEMENT 2025 2024 Consolidated (£’000) Operating cash flows before movements in working capital 22,755 20,749 (Increase) / decrease in trade and other receivables (5,961) (4,936) Increase / (decrease) in trade and other payables 522 (1,185) Cash from operations 17,31
Slide 25: Financial Summary
FINANCIAL SUMMARY Long-Term Track Record (£m) £m 43.8 45.4 39.2 32.7 26.1 23.1 20.8 20.7 17.4 18.8 18.1 14.8 16.0 14.0 13.8 10.5 4.6 5.8 2.9 3.1 3.6 3.9 FY2015 FY2016 FY2017 FY 2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Revenue Adjusted EBITDA 25