Netcompany Group A/s · OMXCOP:NETC
Netcompany Group A/s — Q2 2026 Earnings Presentation
35 slides from Netcompany Group A/s's earnings presentation, Aug 13, 2026
Slide 1: Netcompany
Netcompany rey) J) O 2) 6 © Copyright Netcompany
Slide 2: Important information
Important information This presentation contains forward - looking predicted in the forward - looking statements and from competing products, reliance on information statements including, but not limited to, the the past performance of Netcompany. technology, Netcompany’s ability to successfully sta
Slide 3: Presenters
Presenters André Rogaczewski Thomas Johansen NETCOMPANY CEO NETCOMPANY CFO …will go through the financial performance …will go through the for Q2 2026 and the business highlights financial guidance for for Q2 2026. 2026. 3
Slide 4: Building European Sovereignty for the Age of AI
Building European Sovereignty for the Age of AI H1 2026 highlights AI – products and platforms One year with NBS R obust , market - leading Leveraging AI with our One year into the growth , with strong demand products and platform s. During integration of SDC A/S into from existing and new customers
Slide 5: Q2 growth outperforming the market
Q2 growth outperforming the market ◼ Q1 momentum accelerated into Q2 with revenue growth of 43 % , of which 17% was organic. ◼ Strong demand from existing and new customers . ◼ Customers increasingly adopting our AI - powered offerings . ◼ Organic growth demonstrates underlying business strength and
Slide 6: Feniks AI
Feniks AI ◼ F irst launched for customers in mid - 2025 . ◼ During Q2, the solution was advanced further to embrace new Large Language Models. ◼ Feniks Learn ◼ AI driven legacy modernisation ◼ Feniks Build ◼ AI optimised programming and tests 6
Slide 7: Netcompany Banking Services
Netcompany Banking Services ◼ Innovative banking services anchored in trust, efficiency, and customer - centricity. ◼ One year into the integration of SDC A/S into Netcompany Banking Services. ◼ The integration is progress ing as anticipated and synergies are materialising according to plan. ◼ Stren
Slide 8: Financial highlights
Financial highlights 8
Slide 9: Revenue Q2 2026
FINANCIAL HIGHLIGHTS Q2 2026 Comments Revenue Q2 2026 Organic revenue increased by 17.1% compared to DKK 1,714.9m in Q2 2025. Growth was particularly strong in UK and SEE & EUI, supported by new wins built on our AI - enabled, Revenue in DKK million market - leading products and platforms. Pro forma
Slide 10: Revenue H1 2026
FINANCIAL HIGHLIGHTS Q2 2026 Comments Revenue H1 2026 Organic revenue grew by 15.1% compared to the first six months of 2025 driven by revenue in the private sector and the public sector, which grew 14.2% and 17%, respectively. Revenue in DKK million Group revenue grew by 40.9% of which 25.8 Pro for
Slide 11: Adjusted EBITDA margin Q2 2026
FINANCIAL HIGHLIGHTS Q2 2026 Comments Adjusted EBITDA margin Q2 2026 Organic adjusted EBITDA margin before allocated HQ costs was 15.5% – an increase of 1.6 percentage points compared to Q2 2025, despite additional costs associated with the Netcompany INEOS cycling partnership. Adjusted EBITDA margi
Slide 12: Adjusted EBITDA margin H1 2026
FINANCIAL HIGHLIGHTS Q2 2026 Comments Adjusted EBITDA margin H1 2026 Organic adjusted EBITDA margin before allocated HQ costs was 15.9% compared to 16.2% in the same period last year as a consequence of lower licence revenue and increased investments in Agentic AI and Adjusted EBITDA margin (before
Slide 13: Workforce Q2 2026
FINANCIAL HIGHLIGHTS Q2 2026 Comments Workforce Q2 2026 Netcompany employed an average of 9,895 FTEs in Q2 2026, which was an increase of 1,561 FTEs or 18.7% compared to Q2 2025 (8,333 Average FTEs increased to 9,895 FTEs) of which around half was non - organic, related to the inclusion of NBS. 9,89
Slide 14: Cash flow Q2 2026
FINANCIAL HIGHLIGHTS Q2 2026 Comments Cash flow Q2 2026 The Group generated free cash flow of DKK 41.2m in Q2 2026 compared to DKK 25.6m in Q2 DKK million Q2 2026 Q2 2025 % change 2025, an increase of 61.1%. Adjusted for taxes paid on account, the Group generated free cash flow of DKK 44m in Q2 2026
Slide 15: Revenue visibility
FINANCIAL HIGHLIGHTS Q2 2026 Comments Revenue visibility By end of Q2 2026, revenue visibility was DKK 8,535.6m, of which contractually committed revenue amounts to DKK 3,492.7m and non - Revenue visibility for Netcompany Group contractually committed engagements amounts DKK million to DKK 171.3m. 1
Slide 16: Guidance
FINANCIAL HIGHLIGHTS Q2 2026 Comments Guidance 2026 Based on revenue growth of 40.9% of which 15.1 percentage points is organic, for the first six months of 2026 and taking into account the current backlog and weighted pipeline, Netcompany is raising revenue guidance. Agenda For the Group excluding
Slide 17: Appendix
Appendix 17
Slide 18: New contracts
APPENDIX Q2 2026 New contracts Agenda Public sector, Denmark Public sector, EU Institutions Public sector, Denmark Public sector, EU Institutions Netcompany has been selected to Netcompany EUI, part of a consortium, was Netcompany EUI, part of a consortium, was continue as vendor on the support, Net
Slide 19: New contracts continued
APPENDIX Q2 2026 New contracts continued Agenda Public sector, South East Europe Public sector, South East Europe Public sector, South East Europe Netcompany will provide services Netcompany will implement a comprehensive Netcompany will deliver end - to- end application encompassing application dev
Slide 20: Highlights Q2 2026
APPENDIX Q2 2026 Highlights Q2 2026 Agenda +43.3% +47.1% +18.7% 2,457.6 324.5 9,895 446.8 34.9 8,333 780 1,714.9 220.7 2,010.8 Adjusted 289.6 Average 9,115 Revenue EBITDA FTEs +42.0% +0.3pp 628.8 58.9 13.2% Q2 2025 442.9 Adjusted 12.9% Q2 2026 Non - organic EBITDA 569.9 14.4pp Q2 2026 Organic Gross
Slide 21: Gross profit margin Q2 2026
APPENDIX Q2 2026 Comments Gross profit margin Q2 2026 Organic gross profit margin was 28.3% in Q2 2026, compared to 25.8% in Q2 2025 – as a result of improved operational efficiency throughout the Group and a higher proportion of Gross profit margin licence revenue. Q2 2025 Non - organic gross profi
Slide 22: Gross profit margin H1 2026
APPENDIX Q2 2026 Comments Gross profit margin H1 2026 Organic gross profit margin was first six months of 27.4 % in the 2026, compared to 27.7 % in the same period last year. Gross profit for the Group decreased 2.8 Gross profit margin percentage points to 24.9%, negatively impacted H1 2025 by the m
Slide 23: Income statement Q2 2026
APPENDIX Q2 2026 Comments Income statement Q2 2026 Revenue for the Group increased by 43.3% in the quarter, of which 17.3 percentage points were DKK million Q2 2026 Q2 2025 % change organic, and 26.1 percentage points non - organic. Reported gross pro fit increased 42% to DKK 628.8m yielding a gross
Slide 24: Income statement H1 2026
APPENDIX Q2 2026 Comments Income statement H1 2026 Revenue for the Group increased by 40.8% in the quarter, of which 15 percentage points were DKK million YTD 2026 YTD 2025 change Total 2025 organic, and 25.8 percentage points non - organic. Reported gross pro fit increased 26.9% to DKK Revenue 4,871
Slide 25: Work in progress overview
APPENDIX Q2 2026 Comments Work in progress overview As a total, trade receivables and work in progress increased by 40.7% from DKK 2,055.6m end of Q2 2025 to DKK 2,891.5m end Work in progress compared to revenue of Q2 2026, on level with revenue growth. WIP Revenue in the prevailing 12 months increa
Slide 26: Working days
APPENDIX Q2 2026 Working days 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 +1 +1 0 0 0 0 0 Denmark -2 +2 +1 Norway 0 0 0 0 0 -2 0 0 0 0 0 0 0 UK -1 +3 +1 0 0 0 0 0 Netherlands -1 +1 0 0 0 0 0 Greece -1 -2 +1 +1 0 0 0 0 Belgium -1 -1 +1 +1 +1 +1 0 0 Luxembourg -1 -2 27
Slide 27: Statement of financial position
APPENDIX Q2 2026 Statement of financial position 30 June 30 June DKK million 30 June 30 June DKK million 2026 2025 2026 2025 Equity and liabilities Assets Goodwill 4,093.2 3,252.0 Share capital 46.0 47.5 Intangible assets 1,151.9 456.5 Treasury shares - 447.9 - 129.9 Tangible assets 1037.8 859.1 Ret
Slide 28: Free cash flow
APPENDIX Q2 2026 Free cash flow 532.4 +61.1% 317.9 145.3 67.9 25.6 41.2 - 55.5 - 305.0 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 29
Slide 29: Cash conversion rate
APPENDIX Q2 2026 Cash conversion rate 381.4% - 14.9pp 178.5% * 89.5% 47.0% 32.6% 17.7% * Due to negative free cash flow and negative net profit in Q3 2025, cash conversion metrics are not applicable or meaningful for the period. - 176.2% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 202
Slide 30: Leading Europe's digital future, responsibly
Leading Europe’s digital future, responsibly Our ambition is to become a leading modern pan-European tech company. We are positioned to achieve this by leveraging our role as a leading European IT services company with market-leading products and platforms. We are committed to enabling digitalisatio
Slide 31: Products and platforms
03. Products and platforms Our extensive portfolio of coding founda- tions, platforms, and products forms the engine of our growth strategy. These assets increasingly incorporate Al capabilities in the core that enhance automation and accelerate development cycles and thereby enable us to deliver so
Slide 32: IT spend
IT spend DKKbn in addition to total IT spend of DKK 1,368.8bn in 2025 in our xxisting markets, IT spend in ‘our target markets, consisting _ of Sweden and Germany, _ amounted DKK 924.5bn. mm Services, existing markets 002.4 { Services, target markets a7a7 Software, existing markets 706.4 Software, t
Slide 33: Market opportunities
Market opportunities Towards European market leadership Netcompany Is growing a strong presence across Europe, operating in Denmark, Norway, the UK, the Netherlands, Luxembourg, Belgium, Greece and other countries, aiming to become a leading mod- ern pan-European tech company. Our opera- tlons In No
Slide 34: Netcompany presence
Netcompany presence Netcompany presence 402 Norway 756 United Kingdom 2,986 Denmark 210 Netherlands 428 Vietnam 360 Belgium 888 Poland Average workforce 702 Luxembourg 20.8 % 9,845 2,923 Greece 35
Slide 35: netcompany.com
Netcompany netcompany.com