Verisure Plc · OMXSTO:VSURE
Verisure — Investor Presentation (July 2025)
39 slides from Verisure's investor presentation, July 2025
Slide 1: Verisure: Protecting What Matters Most
Verisure: Protecting What Matters Most JULY 2025
Slide 2: Vision and Mission
Vision Mission We believe everyone has the right to feel safe and secure. We protect what We bring peace of mind matters most. to families and small businesses. Source: Company information. 2
Slide 3: Our DNA Defines who we are
Our DNA Defines who we are Source: Company information. 3
Slide 4: Verisure Key Numbers: 2024
Verisure Key Numbers: 2024 5.6m €3.1bn 11% Alarm Customers1 ARR2,3 L3Y ARR CAGR2,4 €819m 24% 7.4% Adj. EBIT2,5 1,7 Adj. EBIT Margin2,6 Attrition2 (~19% growth rate3) (~15-year average customer lifetime7) Source: Company information. Notes: 1 As of 31 December 2024; 2 For the year ended 31 December 2
Slide 5: Our Verisure Playbook to Unlock The Market
Our Verisure “Playbook” to Unlock The Market Category Creating Go-to-Market Customer Innovation Marketing Muscle Experience Culture & Talent Source: Company information. 5
Slide 6: Long History, Recent Acceleration Behind Our Playbook
Long History, Recent Acceleration Behind Our “Playbook” Foundation and initial Becoming independent and H&F acquisition. New management team. international expansion creating the Verisure brand Industrialised business model First steps Became Listed on Verisure H&F & Video doorbell Lock- Foundation
Slide 7: Leader in Security Services With Uninterrupted Growth Track Record
Leader in Security Services Across our Footprint With Uninterrupted Growth Track Record Track Record of Uninterrupted Double-Digit Growth Leaders in Europe and LatAm, >5x Larger Than #2 Player2,3 Annualised Recurring Revenue1 (€bn) Europe ~90% Group Portfolio3 LatAm ~10% Group Portfolio3 3.1 #1 #1 #
Slide 8: Verisure Operates in the Professionally Monitored Security Market Segment
Verisure Operates in the Professionally Monitored Security Market Segment One Job, Three Levels of Security, Three Segments Complete 24/7 protection solutions featuring all round detection, professional monitoring, Professionally verification, and intervention. Monitored Security Detection-based pro
Slide 9: Highly Integrated Business Model with Full Control Over the Value Chain
Highly Integrated Business Model with Full Control Over the Value Chain Focus on the Most Attractive Segments Vertically Integrated Business Model Where we play Product and service innovation Segments: Residential homes, small businesses and selected adjacencies Category-creating marketing Propositi
Slide 10: Self-funding Organic Growth: Re-investing Portfolio Cash Flows
Self-funding Organic Growth: Re-investing Portfolio Cash Flows to Acquire New Customers Recurring Revenue, High Growth, DISCRETIONARY GROWTH INVESTMENTS Profit and Cash High Returns Portfolio Services Customer Acquisition Avg. Customer Portfolio New Installations x x EBITDA per Customer (EPC) x 12 m
Slide 11: Exceptional Consumer Subscription Business
Exceptional Consumer Subscription Business 1 Category Clear Leader Leadership Clear leader (#1 position in 9 of top 10 geographies1) with unique self-funding growth model Long Runway for Growth Monitored security is highly underpenetrated, offering a strong opportunity for growth 2 Differentiated Cu
Slide 12: Building #1 Brand Positions And Driving Market Segment Growth
1 Building #1 Brand Positions And Driving Market Segment Growth Verisure Brand Awareness1 Verisure Segment Share3 ~90% Group Portfolio2 ~10% Group Portfolio2 Installed Base in Verisure Footprint3 (m) CAGR Increase ~14-16 ~4-6% +3.3m 83% ~11-13 67% 70% 72% 54% 73% 89% 69% 28% 38% 8% 5.6 11% +2.3m 3.3
Slide 13: Significant Penetration Opportunity Means Long Growth Runway Ahead
2 Significant Penetration Opportunity Means Long Growth Runway Ahead Monitored Security Penetration Key Levers for Continued Growth Residential Dwellings and Small Businesses1 (m), 2024 ~436 <4% • Significant penetration runway ahead: Increase Penetration – <4% current TAM1 penetration vs. ~23% in U
Slide 14: We Operate a Portfolio of Geographies at Different Stages of Lifecycle
2 We Operate a Portfolio of Geographies at Different Stages of Their Lifecycle Proven, Replicable Expansion Model New Market Entry, Fast Scaling of Value Creation Adaptation, Early Scaling Proven Unit Economics Revenue Growth EBIT Margins Revenue Growth EBIT Margins Revenue Growth EBIT Margins +++ -
Slide 15: Our Geographic Regions
2 Our Geographic Regions Iberia and Nordics Other Europe LatAm ARR1 (€m) ARR1 (€m) ARR1 (€m) 8% 8% 9% 21% 18% 16% 43% 24% 18% 1,603 1,746 1,057 257 1,479 911 218 770 176 2022 2023 2024 2022 2023 2024 2022 2023 2024 Adjusted EBIT1,2 (€m) Adjusted EBIT1,2 (€m) Adjusted EBIT1,2 (€m) 21% 38% 38% 40% 17%
Slide 16: Significant Penetration Opportunity Remains in Each Geographic Region
2 Significant Penetration Opportunity Remains in Each of Our Geographic Regions Iberia and Nordics Other Europe LatAm Residential Dwellings and Small Businesses (m), 2024 ~186m ~195m ~56m ~77m ~39m ~18m ~5m ~7m ~3m Estimated TAM ~10% <4% <2% Penetration (%) Estimated SAM ~29% ~9% ~7% Penetration (%)
Slide 17: Best-In-Class Propositions Designed Around Four Pillars
3 Best-In-Class Propositions Designed Around Four Pillars DETER DETECT VERIFY INTERVENE Deter intruders by Cannot ever miss a real Filter false positives. 3 levels of intervention. showing that the property incident, Total Shield. Required for effective “It’s what customers is protected by #1 brand1
Slide 18: Differentiated Customer Value Proposition Contributes to Leading Attrition
3 Differentiated Customer Value Proposition Contributes to Leading Attrition Ensuring Our Attrition Remains Best-in-Class Best-in-Class Attrition1 (%) Quality Customer Intake ~13% ~12% ~12% ~10% Super-Serve Customers in Early Life 7.4% Excellent Customer Service (Remote + On-Site) Deep Analytics to
Slide 19: Competitive Advantage From Our Vertically Integrated Technology Stack
3 Competitive Advantage From Our Vertically Integrated Technology Stack Award-winning Product and Services Offering. Deter, Detect, Verify and Intervene ArloTM ArloTM Solar GuardVisionTM GuardVisionTM GuardVisionTM Central Customer Fire StarkeyTM Hold-up Zero LockGuardTM Outdoor VoicePadTM Guard- Sm
Slide 20: Powerful Economic Model. Continued Margin Expansion
4 Powerful Economic Model. Continued Margin Expansion Average Revenue per User (ARPU)1 | Recurring Monthly Cost (RMC) (€) Portfolio Profitability Metrics, Excluding Initial Customer Acquisition Costs 46 ARPU ARPU Pricing 44 42 CAGR2 (%) 40 (L10Y) (L5Y) 2004 ARPU 38 + inflation 2.0% 2.0% 36 34 Contin
Slide 21: Proven Resilience Through the Cycle (1/3)
5 Proven Resilience Through the Cycle (1/3) Annualised Recurring Revenue (€bn)1 Customer Attrition (%) 3.1 CAGR (%) (L15Y) (L10Y) (L5Y) 14% 14% 13% 8% 7.4% 6% Verisure’s attrition corridor 2011 2019 2024 2008 2009 2010 2012 2013 2014 2015 2016 2017 2018 2020 2021 2022 2023 2008 2010 2012 2014 2016 2
Slide 22: Proven Resilience Through the Cycle (2/3)
5 Proven Resilience Through the Cycle (2/3) New Installations (‘000) Acquisition Multiple1 (x) 840 CAGR (%) (L15Y) (L10Y) (L5Y) 11% 12% 7% 4.00x 3.6x 3.25x Disciplined evolution of customer acquisition costs within target corridor 2011 2019 2024 2008 2009 2010 2012 2013 2014 2015 2016 2017 2018 2020
Slide 23: Proven Resilience Through the Cycle (3/3)
5 Proven Resilience Through the Cycle (3/3) Lower install growth in 2021-2023 (+2% CAGR) was a choice (2024 +5% y/y as macro pressures ease) Context: Combination of exceptional cost-of-living pressures (impacting demand) as well as rising cost of capital (impacting target ROIs) 1. Tighter capital al
Slide 24: Talented, Proven, Experienced Leadership Team
Talented, Proven, Experienced Leadership Team | “Ownership Mindset” Austin Lally Antonio Anguita Olivier Allender Chief Executive Officer President Southern Europe, President Central Europe, UK, Nordics and LatAm Ireland and Arlo 11 Years at Verisure 12 Years at Verisure 13 Years at Verisure 37 Year
Slide 25: Recognised Externally as a Top Employer
Recognised Externally as a Top Employer. Highly Committed, Engaged Team Consistently Leading the Way in Employer Excellence Across Our Key Countries FT Best Employers ® in Europe in 2025 Top Employer ® in Europe in 2024 and 2025 Top Employer ® and/or Great Place to Work ® in all our 17 countries 201
Slide 26: Financial Update
Financial Update @ verisure
Slide 27: Headline Financial Performance
Headline Financial Performance 2022 2023 2024 Revenue (€m) 2,827 3,090 3,408 YoY (%) +12.7% +9.3% +10.3% ARR1 (€m) 2,478 2,746 3,068 YoY (%) +13.9% +10.8% +11.7% Adjusted EBITDA2 (€m) 1,152 1,341 1,534 Margin (%) 40.7% 43.4% 45.0% Adjusted EBIT3 (€m) 577 694 819 Margin (%) 20.4% 22.5% 24.0% Source:
Slide 28: Excellent Customer Unit Economics
Excellent Customer Unit Economics CPA1 (€) ARPU2 (€) EPC3 (€) Acquisition Multiple4 (x) +2.5% +3.6% +5.3% @ constant currency @ constant currency @ constant currency +1.6% +3.0% +4.6% (0.1x) 1,415 1,438 45.6 33.1 3.7x 44.2 31.6 3.6x 2023 2024 2023 2024 2023 2024 2023 2024 Source: Company information
Slide 29: Cash Conversion and Levered Free Cash Flow
Cash Conversion and Levered Free Cash Flow Reinvesting Strong Operating Cash Flows in Customer Acquisition 2024 Verisure Adjusted Operating Cash Flow (€m) ~401k ~439k customers Customer customers acquired to Acquisition acquired to 627 offset grow attrition portfolio 1,702 (400) 715 (59) Cash Conver
Slide 30: Portfolio Reinvestment Rate Delivers Increasing Cashflows
Portfolio Reinvestment Rate Delivers Increasing Cashflows Portfolio Reinvestment Rate Evolution by Geographic Region Portfolio Cashflow | Customer Acquisition Spend (€m) CAGR Portfolio Reinvestment Rate3 by Geography (x) (19-24) 1,987 +14% 147% Portfolio Cashflow1 A Customer Acquisition Spend2 B ~€8
Slide 31: Capital Allocation and Dividend Policy
Capital Allocation and Dividend Policy 1 Invest in • Increasing New Installations Organic Growth • Technology Innovation 2 Balance Sheet • IPO leverage ~3.0x Management1 • Leverage post-IPO 2.50x - 2.75x, by end of 2026 3 Selective M&A • Company growth strategy will remain very largely organic 4 • P
Slide 32: Headline Guidance
Headline Guidance 2024 Mid-Term Actuals Targets €3,068m Around 10% ARR 11.7% YoY Growth Growth p.a. €3,408m Up to 100 bps below Total Revenue 10.3% YoY Growth ARR growth Progressive €819m Adjusted EBIT Adjusted EBIT 24.0% Margin margins to 30% long-term Source: Company information. 32
Slide 33: Technical Guidance
Technical Guidance Group D&A (ex amortisation of acquisition-related intangibles) to remain ~80% of L5Y Total Capex + IFRS 16 Leases D&A – Amortisation of acquisition-related intangibles from 2020 transaction will run to 2035 Capex Intensity (as a % Group revenues) to decrease to mid-20s % in the me
Slide 34: Exceptional Consumer Subscription Business
Exceptional Consumer Subscription Business 1 Clear Leader with Unique Self-funding Growth Model 2 Long Runway for Growth 3 Vertically Integrated Innovation with Differentiated Customer Proposition 4 Continued Margin Expansion Trajectory 5 Proven Resilience Through the Cycle Underpinned by an outstan
Slide 35: Appendix
Appendix 35
Slide 36: Excellent Unit Economics
Excellent Unit Economics ARPU1 (€) RMC2 (€) +2% (1%) CAGR CAGR 45.6 13.8 13.3 43.4 44.2 12.6 12.6 12.5 41.2 41.2 42.4 11.7 12.2 39.8 40.2 11.5 2017 2018 2019 2020 2021 2022 2023 2024 2017 2018 2019 2020 2021 2022 2023 2024 Acquisition Multiple3 (x) Attrition (%) 7.2% 7.6% 7.4% 3.7x 3.7x 3.8x 3.7x 3.
Slide 37: Current Ownership Structure and Quarterly Deleveraging
Current Ownership Structure and Quarterly Deleveraging Ownership (%) LTM Net Leverage1 (x) Excludes Factoring Arrangement2 13% 6.8x 6.8x 6.8x 6.6x 6.4x 8% 6.2x 5.9x 5.7x 5.5x 5.4x 5.2x 5.0x 4.9x 4.9x 59% 21% Dec- Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- 2021 2022 2022 2022 20
Slide 38: Cash Conversion by Geographic Cluster
Cash Conversion by Geographic Cluster 2024 Verisure Cash Conversion (%) Adj. Operating Portfolio Cash ARR Adj. EBIT Cash Flow1 Reinvestment Rate2 Conversion3 Growth (€m) (€m) (%) (%) (%) Iberia and Nordics 743 664 41% 89% 9% Other Europe 258 136 74% 53% 16% LatAm 9 (17) 106% n.m. 18% Central (Excl.
Slide 39: Disclaimer
Disclaimer THIS PRESENTATION IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA OR ANY RESIDENT THEREOF (SUBJECT IN EACH CASE TO CERTAIN EXCEPTIONS), OR ANY OTHER JURISDICTION WHERE S