Trifork Group Ag · OMXCOP:TRIFOR
Trifork — SEB presentation, 8 January (January 2026)
24 slides from Trifork's conference presentation, Jan 8, 2026
Slide 1: A Pioneering Technology Partner
INVESTOR PRESENTATION · COPENHAGEN · JANUARY 2025 A Pioneering Technology Partner Jørn Larsen FOUNDER & GROUP CEO
Slide 2: Disclaimer: Important Information
DISCLAIMER IMPORTANT INFORMATION This presentation contains forward-looking statements including, but not limited to, statements and expectations concerning expected or projected earnings, strategies, trends and developments. Forward-looking statements are statements (other than statements of histor
Slide 3: Local presence combined with global delivery capabilities across five core industries
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Local presence combined with global delivery capabilities across five core industries 3 1197EMPLOYEES 16 COUNTRIES 5 CORE INDUSTRIES
Slide 4: Undergoing transformation to a product-led business with a balanced public/private exposure
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Undergoing transformation to a product-led business with a balanced public/private exposure Revenue split Products Services 33% 67% Private Public 59% 41% 4 Revenue splits in 9M/2025
Slide 5: Pioneering meaningful change for 30 years
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Pioneering meaningful change for 30 years DNA We operate at the forefront of innovation and are often among the first to explore new technologies and methods. We work closely with customers and take responsibility as a long- term techno
Slide 6: We attract diverse talents and experienced specialists, all driven by curiosity about tech
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK We attract diverse talents and experienced specialists, all driven by curiosity about tech Organization 1197EMPLOYEES 55 NATIONALITIES 41 AVERAGE AGE 24% WOMEN 14% AVG. 12M EMPLOYEE TURNOVER SINCE 2023 (18% INCL. REORGANIZATIONS) IT-pro
Slide 7: Staying ahead by mastering new technologies early
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Staying ahead by mastering new technologies early CLOUD ENTERPRISE Trifork’s capabilities (examples) MOBILITY Customers’ capabilities & adoption DIGITAL TWIN SELL PACKAGED SOFTWARE & SOLUTIONS VISION AI AGENTIC AI COMPETITIVE EDGE SPATI
Slide 8: Combining deep industry expertise with industry-agnostic products and services
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Combining deep industry expertise with industry-agnostic products and services Core product areas Digital Health Financial Services Public Aviation Energy Since 1996 Since 2004 Since 2009 Since 2010 Since 2015 Technologies Spatial compu
Slide 9: Extending push into aviation with spatial training
EXAMPLE OF PRODUCT DEVELOPMENT STRATEGY Industry Aviation Extending push We have already delivered flight crew safety training on the Apple Vision Pro to Lufthansa into aviation Recently announced new partnership with Loft Dynamics. with spatial Trifork to build technology for Loft and sell the solu
Slide 10: Building a more product-driven, scalable, and commercially focused organization
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Building a more product-driven, scalable, and commercially focused organization 2028-2030 2026-2027 2025 1. Accelerate product culture 2. Strengthen sales execution 3. Focused industry divisions Product Culture Development Market Develo
Slide 11: Building a more product-driven, scalable, and commercially focused organization
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Building a more product-driven, scalable, and commercially focused organization 2028-2030 2026-2027 2025 1. Develop value-based pricing 2. M&A with product exposure 3. Strengthen divisional leadership 1. Accelerate product culture 2. St
Slide 12: Building a more product-driven, scalable, and commercially focused organization
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Building a more product-driven, scalable, and commercially focused organization 2028-2030 2026-2027 1. Material market share with core products 2. Bolt-on M&A in core product areas 1. Develop value-based pricing 3. Higher product margin
Slide 13: Stronger performance ahead driven by product-led revenue and effects from cost savings
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Stronger performance ahead driven by product- led revenue and effects from cost savings 13.5-14.9% 6-8% total growth margin EURm 218-223 33 Revenue from acquisitions Group adj. EBITDA 30-33 208 206 30 Organic revenue 2025 Guidance 185 2
Slide 14: Solid momentum in Products; Services margin expected to recover
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Solid momentum in Products; Services margin expected to recover Revenue (left axis) Adj. EBITDA (right axis) Products Services 40,000 9000 40,000 9,000 35,000 8000 35,000 8,000 7000 7,000 30,000 30,000 EURk 6000 6,000 25,000 25,000 5000
Slide 15: Enterprise AI adoption still at an early stage and needs significant expertise to scale
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Enterprise AI adoption still at an early stage and needs significant expertise to scale responsibly LLMs Security Compliance Organized data Reliable workflows Cost management Contextual learning Trusted integrations Scalable infrastruct
Slide 16: Continued disciplined M&A in the coming years
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Continued disciplined M&A in the coming years - Net debt at 1.3x EBITDA - Expecting continued deleverage in Q4 - Acquisitions to be resumed after a quiet 2025 Vilea GmbH StrongMinds ApS Invokers A/S IBE AG Delta Software A/S Testhuset A
Slide 17: Growth supported by underlying trends but we still see some hesitation in private sector
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK Growth supported by underlying trends but we still see some hesitation in private sector Sovereign data hosting Digital government Rising cybercrime AI adoption XR adoption Healthcare efficiency 17
Slide 18: Digitalization as a long-term driver; Innovation specialists; Q&A
Digitalization as a long-term driver Innovation specialists Q&A Three decades of growth and profitability Full-circle business model Agile organization and strong employer brand Successful and profitable innovation model Enabling customers to become sustainable We change the world with software.
Slide 19: Trifork Labs
APPENDIX Trifork Labs TRIFORK.
Slide 20: Update on Trifork Labs
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK · LABS Update on Trifork Labs Portfolio as of Q3 Two strategic additions in Q4 Product R&D Legaltech Security JV Strategic collaborations collaboration (spin-off) Spin-offs External innovators Companies Book value 23 84 EURm One partial
Slide 21: Strong track record of exits
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK · LABS Strong track record of exits SOME OF OUR LARGER HISTORICAL EXITS: ENTRY 2011 CO-FOUNDED 2014 CO-FOUNDED 2016 CO-FOUNDED 2018 EXIT 2014 & 2015 EXIT 2018 EXIT 2018 & 2020 EXIT 2024 & 2025 Trifork Labs was an early investor Trifork
Slide 22: Solid operational performance and comfortable funding runway across the portfolio
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK · LABS Solid operational performance and comfortable funding runway across the portfolio TOP 5 OF BOOK VALUE ALPHABETIC ORDER CO-INVESTORS EURm 84 Axoniq 1 Software development framework POSITION 11-23 7% POSITION 6-10 20% Bluespace Ven
Slide 23: Significant realized gains since 2016; more exits likely in 2026
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK · LABS Significant realized gains since 2016; more exits likely in 2026, providing cash for majority acquisitions, buybacks, and debt reduction EBT FROM LABS (EURM) INVESTMENTS (EURM) Invested cash in current portfolio Unrealized gains
Slide 24: Strong operational performance in Labs Top 10
INTRO · DNA · BUSINESS MODEL · STRATEGY · PERFORMANCE · OUTLOOK · LABS Strong operational performance in Labs Top 10 # EURm EURm REVENUE EBITDA EMPLOYEES Growth Margin Growth +50% +100% 99.3 18.1% 100 100 20 20 550 99.3 18.0 507 90 90 18 18 500 457 18 507 80 80 16 16 450 457 72.2 14 14 400 70 72.2 7