Slide 1: Financial Statement January - December 2025
No Image Financial Statement January - December 2025 13.2.2026 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: Content
No Image Content 1. Q4 2025 highlights 2. Q4 2025 financial review 5
Slide 6: Key Figures Q4 2025
No Image Key Figures Q4 2025 STRONG FINANCIAL PERFORMANCE CONTINUED IN THE FOURTH QUARTER EUR million 10-12 2025 10-12 2024 change 1-12 2025 1-12 2024 change Net sales 36.1 36.5 -1.0% 138.6 132.5 4.6% Adjusted EBITDA 2.5 2.2 12.9% 12.1 9.3 29.1% Adjusted EBIT 1.2 0.9 38.6 % 7.1 4.2 69.7% EBIT 1.2 -5
Slide 7: Orders received Q4 2025
No Image Orders received Q4 2025 Orders received increased on full-year basis and sequentially Orders received Orders received by business units, 1-12 2025 EUR million Public Safety and Mobility 40% (40%) Broadband Networks 60% (60%) Orders received increased on annual basis by 11%, increasing in
Slide 8: Net Sales Q4 2025
No Image Net Sales Q4 2025 Net Sales at previous year level in both segments Net sales, 1-12 2025 Net sales EUR million 40,0 36,5 36,1 35,0 30,7 30,0 25,0 20,0 15,0 10,0 5,0 0,0 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Slide 9: Financial Outlook for 2026
No Image Financial Outlook for 2026 • Teleste estimates that Net sales for 2026 will be in the range of 140 to 160 million euros and adjusted Operating profit in the range of 7 to 10 million euros. Profit is expected to be weighted toward the second half of the year. • Material changes in the operat
Slide 10: Content
No Image Content 1. Q4 2025 highlights 2. Q4 2025 financial review 11
Slide 11: Teleste Group, Q4 2025
No Image No Image Teleste Group, Q4 2025 Strong financial performance continued in the fourth quarter EUR million 10-12 2025 10-12 2024 Change 1-12 2025 1-12 2024 Change Net sales 36.1 36.5 -1.0% 138.6 132.5 4.6% Adjusted EBITDA 2.5 2.2 12.9% 12.1 9.3 29.1% Adjusted EBITDA, % 6.8% 6.0% 0.8 ppt 8.7%
Slide 12: Group Financials, Q4'2025
No Image Group Financials, Q4’2025 Orders received Q4’25 Net Sales Q4’25 Net Sales by geography Jan-Dec’25 Cumulative Adjusted EBIT Q4’25 • Orders received grew on annual basis by 11% on both segments, though Q4’25 was below the last year’s level by 13% due to significant Q4’24 orders on Broadband N
Slide 13: Operating segments Q4 2025
No Image No Image Operating segments Q4 2025 Solid performance in both segments Broadband Networks 10-12 2025 10-12 2024 Change 1-12 2025 1-12 2024 Change Net sales, MEUR 19.9 20.0 -0.5% 82.8 78.2 5.8 % Adjusted EBITDA, MEUR 2.4 1.8 32.4% 10.9 8.9 22.2 % Adjusted EBITDA, % 11.9% 8.9% 3.0 ppt 13.2% 1
Slide 14: Broadband Networks, Q4'2025
No Image Broadband Networks, Q4’2025 Orders received Q4’25 Net Sales Q4’25 Net Sales by geography Jan-Dec’25 Cumulative Adjusted EBIT Q4’25 • Q4’25 orders decreased from the comparison period but increased significantly from previous quarter. Orders increased in both DOCSIS 4.0 intelligent networks
Slide 15: Public Safety and Mobility, Q4'2025
No Image Public Safety and Mobility, Q4’2025 Orders received Q4’25 Net Sales Q4’25 Net Sales by geography Jan-Dec’25 Cumulative Adjusted EBIT Q4’25 • Order intake increased during Jan-Dec by 11%. The growth during this year has been primarily driven by a strong increase in orders from public transpo
Slide 16: Strengthening balance sheet, working capital improved, net debt decreased
No Image No Image Balance sheet 31 December 2025, EUR million Strengthening balance sheet, working capital improved year- on-year, interest bearing net debt decreased Assets Equity and liabilities 122,7 121,2 122,7 121,2 Intangibles increased 2.3 million due to R&D investments during 2025. Intangi
Slide 17: Cash flow from operations
No Image Cash flow from operations Operative cash flow in Q4 2025 was positive due to higher net sales and efficient working capital management Cash flow from operations EUR million -7,8 Q4 2025 operative cash flow was M€ EUR 1,8M due to positive effects 10 from net working capital and operating r
Slide 18: Cash flow 2025: Working capital released
No Image Cash flow 2025: Working capital released due to improved profitability and net working capital management Operating activities Investing activities Financing activities 4,0 4,5 0,3 0,3 0,9 1,9 0,5 5,7 8,8 6,3 9,1 2,6 0,2 Cash Profit Cash flow Change R&D CAPEX Acq. of Sale of Leasing Dividen
Slide 19: Return on capital employed and Equity ratio
No Image No Image Return on capital employed Equity ratio At the end of the period 50% 47,6 % 8% 7,1 % 45,4 % 45,4 % 45% 6% 40% 4% 35% 30% 2% 0,2 % 25% 0% 20% -2% 15% 10% -4% 5% -6% -5,0 % 0% 31.12.2023 31.12.2024 31.12.2025 31.12.2023 31.12.2024 31.12.2025 Return on Capital Employed (ROCE) was 7.
Slide 20: Net gearing and Interest-bearing Net debt / adj. EBITDA
No Image No Image Net gearing Interest-bearing Net debt / adj. At the end of the reporting period EBITDA (2025 EBITDA) Last twelve months 100% 5,5x 90% 5,0x 4,5x 4,4x 80% 70% 4,0x 3,5x 60% 51,9 % 3,0x 2,8x 50% 46,3 % 2,5x 40% 33,9 % 2,0x 1,7x 30% 1,5x 20% 1,0x 10% 0,5x 0% 0,0x 31.12.2023 31.12.2024