Slide 1: Interim Report January - March 2025
No Image Interim Report January - March 2025 7.5.2025 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, Public Safety and Mobility
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: Q1 2025 highlights
No Image Q1 2025 highlights Q1 2025 financial review
Slide 6: Key Figures Q1 2025
No Image Key Figures Q1 2025 STRONG GROWTH IN ORDERS. ADJUSTED OPERATING RESULT REMAINED UNCHANGED. IMPROVED EARNINGS PER SHARE. EUR million 1-3 2025 1-3 2024 change 1-12 2024 Net sales 32.2 36.6 -12.1% 132.5 Adjusted EBITDA 2.7 3.1 -11.3% 9.2 Adjusted EBIT 1.5 1.5 -5.9% 4.0 EBIT 1.5 -0.4 n/a -5.5 C
Slide 7: Net sales decreased YoY, whilst geographic mix is changing
No Image Net Sales Q1 2025 Net sales decreased YoY, whilst geographic mix is changing Net sales Net sales, 1-3 2025 EUR million 50,0 45,3 45,0 40,0 36,6 35,0 32,2 30,0 25,0 20,0 15,0 10,0 5,0 0,0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Slide 8: Adjusted EBIT remained unchanged, but EBIT improved
No Image Adjusted operating result Q1 2025 Adjusted EBIT remained unchanged, but EBIT improved Adjusted EBIT EBIT (IFRS) EUR million EUR million 2,0 1,5 1,5 1,5 2,0 1,5 1,2 1,0 1,0 0,0 0,0 -0,4 -1,0 -1,0 -2,0 -2,0 -3,0 -3,0 -4,0 -4,0 -5,0 -5,0 -6,0 -6,0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 9: Orders increased, driven by Broadband Networks
No Image Orders received Q1 2025 Orders increased, driven by Broadband Networks Orders received Orders received by business units, 1-3 2025 EUR million Public Safety and Mobility 35% (48%) Broadband Networks 65% (52%) Orders received grew 21.5% in Q1’25 compared to Year-on-Year. Broadband Networ
Slide 10: Order book stabilized
No Image Order book 31 March 2025 Order book stabilized Order book (end of the period) Order book by business units, 31 March 2025 EUR million Broadband 160 Networks 140 128 129 126 24% 124 118 123 118 117 118 (17%) 120 100 80 60 40 20 Public Safety and Mobility 0 76% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 (83%
Slide 11: Market outlook for 2025
Market outlook for 2025 Broadband Networks: • Demand in the European market is expected to remain at the previous year's level. The first investments in DOCSIS 4.0 will start in the second half of the year. • The North American investments in DOCSIS 4.0 technology are expected to significantly incre
Slide 12: Financial outlook for 2025 (unchanged)
Financial outlook for 2025 (unchanged) Teleste estimates revenue for 2025 to be between 135 and 150 million euros, with adjusted operating profit in the range of 4 to 7 million euros. The result is expected to be primarily realized in the second half of the year. Import tariffs in the United States
Slide 13: Long-term strategic growth targets until 2030
Onko valmius laittaa tällainen Mervi / BoD Long-term strategic growth targets until 2030 Press release 22.4.2025 The company aims for: • Profitable growth in both of Teleste's business segments (Broadband Networks and Public Safety and Mobility). • An average annual revenue growth of 10% until 203
Slide 14: Q1 2025 financial review
No Image Q1 2025 highlights Q1 2025 financial review
Slide 15: Teleste Group, Q1 2025
No Image No Image Teleste Group, Q1 2025 STRONG GROWTH IN ORDERS. IMPROVED EARNINGS PER SHARE. FULL-YEAR OUTLOOK REMAINS UNCHANGED. Change EUR million 1-3 2025 1-3 2024 2024 Net sales 32.2 36.6 -12.1% 132.5 Adjusted EBITDA 2.7 3.1 -11.3% 9.2 Adjusted EBITDA, % 8.4% 8.4% 0.1 ppt 6.9% Adjusted EBIT 1)
Slide 16: Group Financials, Q1'2025
No Image Group Financials, Q1’2025 Orders received Q1’25 Net Sales Q1’25 Net Sales by geography Q1’25 Cumulative Adjusted EBIT Q1’25 • Strong order-in-take especially from Broadband Networks North America and Europe, increase of 21.5% • Net Sales declined year on year, though mix of geographic movin
Slide 17: Operating segments Q1 2025
No Image No Image Operating segments Q1 2025 Orders improved in Broadband Networks, while profitability improved in Public Safety and Mobility Broadband Networks 1-3 2025 1-3 2024 Change 2024 Net sales, MEUR 19.4 23.1 -16.1% 78.2 Adjusted EBITDA, MEUR 2,004 3,364 -40.4% 8,869 Adjusted EBITDA, % 10.3
Slide 18: Broadband Networks, Q1'2025
No Image Broadband Networks, Q1’2025 Orders received Q1’25 Net Sales Q1’25 Net Sales by geography Q1’25 Cumulative Adjusted EBIT Q1’25 • Strong order-in-take especially from North America and from Europe • Net Sales declined in Europe, which was partly offset by significant increase in North America
Slide 19: Public Safety and Mobility, Q1'2025
No Image Public Safety and Mobility, Q1’2025 Orders received Q1’25 Net Sales Q1’25 Net Sales by geography Q1’25 Cumulative Adjusted EBIT Q1’25 • The orders received decreased 11.9% year–on–year bases, due to fluctuations in project business. The comparison period included an exceptionally large orde
Slide 20: Net working capital at similar level, net debt decreased
No Image No Image Balance sheet, EUR million Net working capital at similar level on year-on-year, interest bearing net debt decreased Assets Equity and liabilities Intangibles decreased 4,0 million 125,8 125,8 EUR due to impairment on activated 120,5 120,5 RnD in Q4 2024. Intangibles Equity Net
Slide 21: Operative cash flow in Q1 2025 was tied up in new orders
No Image Cash flow from operations Operative cash flow in Q1 2025 was tied up in new orders Cash flow from operations EUR million -7,8 M€ Q1 2025 operative cash flow EUR 10 was 1.5 tying up net working capital 7,3 for late Q1 and early Q2 deliveries. 5 Networking capital follows quarterly 2,0 reve
Slide 22: Cash flow Q1 2025: Working capital tied for upcoming deliveries
No Image Cash flow Q1 2025: Working capital tied for upcoming deliveries. Loans reduced. Operating activities Investing activities Financing activities 1,0 8,8 1,0 1,9 0,0 0,6 0,5 2,8 6,0 0,1 Cash Profit for Cash flow Change in R&D CAPEX Leasing Bank 22 loans Changes in Cash 31.12.2024 the period ad
Slide 23: Return on capital employed, Equity ratio
No Image No Image Return on capital employed Equity ratio At the end of the period 8% 50% 47,4 % 46,8 % 6,1 % 45% 6% 41,6 % 5,1 % 40% 4% 35% 30% 2% 25% 0% 20% -0,4 % -2% 15% 10% -4% 5% -6% 0% 31.3.2023 31.3.2024 31.3.2025 31.3.2023 31.3.2024 31.3.2025 Return on Capital Employed (ROCE) was 6.1%. In
Slide 24: Net gearing, Interest-bearing Net debt / adj. EBITDA
No Image No Image Net gearing Interest-bearing Net debt / At the end of the reporting period adj. EBITDA Last twelve months 100% 5,5x 90% 5,0x 80% 4,5x 4,3x 70% 4,0x 3,5x 58,4 % 3,5x 60% 2,9x 3,0x 50% 46,3 % 42,5 % 2,5x 40% 2,0x 30% 1,5x 20% 1,0x 10% 0,5x 0% 0,0x 31.3.2023 31.3.2024 31.3.2025 31.3.2