Slide 1: Financial Statement January - March 2026
No Image Financial Statement January - March 2026 8.5.2026 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
No Image Teleste 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: Networks
No Image Networks Products, solutions, & advanced services for the broadband network operators Our broadband network solutions portfolio enables operators to deliver top-quality broadband and TV services for their subscribers, while reducing total network ownership costs and maintaining flexibility
Slide 5: Public transport solutions support over 200 customers
No Image Our public transport solutions support over 200 customers, enhancing the safety and efficiency of public mobility ~300 Experts Over Rolling Stock Manufacturers Public Transport and Rail Safety and Transport Infrastructure and Integrators Operators Operators 30 years of experience Projects d
Slide 6: Profitability improved, net sales at previous year's level
No Image Group Key Figures Q1 2026 PROFITABILITY IMPROVED, NET SALES AT PREVIOUS YEAR’S LEVEL EUR million 1-3 2026 1-3 2025 change 1-12 2025 Net sales 32.2 32.2 0.0% 138.6 Adjusted EBITDA 3.1 2.7 12.8% 12.1 Adjusted EBIT 1.9 1.5 29.0% 7.1 EBIT 1.8 1.5 20.4% 6.8 Cashflow from operations -1.5 1.5 n/a
Slide 7: Orders received were impacted by timing – fundamentals unchanged
No Image Orders received Q1 2026 Orders received were impacted of timing – fundamentals unchanged Orders received Orders received by segments, 1-3 2026 EUR million Public Safety and Mobility 42% Networks 58% (35%) (65%) Orders received declined in Q1; however, the decrease was driven by clearly id
Slide 8: Net Sales at previous year level
No Image Net Sales Q1 2026 Net Sales at previous year level - resilient overall performance in a mixed operating environment Net sales Net sales, rolling 12 months EUR million 40,0 36,6 35,0 32,2 32,2 30,0 25,0 20,0 Net sales Q1 2026 by segment 15,0 10,0 5,0 0,0 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 20
Slide 9: Adjusted EBIT improved driven by product mix and cost efficiency
No Image Adjusted operating result Q1 2026 Adjusted EBIT improved driven by product mix and cost efficiency Adjusted EBIT EUR million • Profitability improved significantly, driven by product mix and disciplined cost control in both variable and fixed costs. • Investments were selectively increased,
Slide 10: 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 11: Content
No Image Content 1. Q1 2026 Highlights 2. Q1 2026 Financial Review
Slide 12: Group Q1 2026: Profitability improved along with diligent cost management
No Image No Image Group Q1 2026: Profitability improved along with diligent cost management EUR million 1-3 2026 1-3 2025 Change 1-12 2025 Net sales 32.2 32.2 0.0 % 138.6 Adjusted EBITDA 3.1 2.7 12.8 % 12.1 Adjusted EBITDA, % 9.5 % 8.4 % 1.1 ppt 8.7% Adjusted EBIT 1.9 1.5 29.0 % 7.1 Adjusted EBIT, %
Slide 13: Group Q1 2026: Stable Net Sales and stronger Adj. EBIT
No Image Group Q1 2026: Stable Net Sales and stronger Adj. EBIT Net Sales by geography, rolling 12 months Orders received Q1’26 Net Sales Q1’26 Cumulative Adjusted EBIT Q1’26 • Orders were temporarily softer vs strong comparison period. Root causes have identified and orders are expected to be postp
Slide 14: Operating segments Q1 2026
No Image No Image Operating segments Q1 2026 NET profitability improved, PSM orders on last year level Networks 1-3 2026 1-3 2025 Change 1-12 2025 Net sales, MEUR 20.2 19.4 4.3% 82.8 Adjusted EBITDA, MEUR 3.1 2.0 54.6% 10.9 Adjusted EBITDA, % 15.3% 10.3% 5.0 ppt 13.2% Adjusted EBIT, MEUR 2.4 1.4 77.
Slide 15: Networks, Q1 2026: Profitability up on mix and cost control
No Image Networks, Q12026 Profitability up on mix and cost control Net Sales by geography, rolling 12 Orders received Q1’26 Net Sales Q1’26 Cumulative Adjusted EBIT Q1’26 months • Q1’26 orders declined y-o-y due to seasonality, a strong comparison period and temporary investment timing delays by a c
Slide 16: Public Safety and Mobility, Q1 2026
No Image Public Safety and Mobility, Q12026 Orders on year-on-year level, project timing impact profitability Net Sales by geography, rolling 12 Orders received Q1’26 Net Sales Q1’26 months Cumulative Adjusted EBIT Q1’26 • Orders received remained solid, driven by stronger demand from public transpo
Slide 17: Strengthening balance sheet, interest bearing net debt decreased
No Image No Image Balance sheet 31 March 2026, EUR million Strengthening balance sheet, interest bearing net debt decreased Assets Equity and liabilities Intangibles increased year-on-year 121,6 120,5 121,6 120,5 2.5 million due to R&D investments. Intangibles Equity Net Working Capital remained
Slide 18: Cash flow 2026: Working capital tied for securing critical components
No Image Cash flow 2026: Working capital tied for securing critical components and customer receivables. Operating activities Investing activities Financing activities 9,1 1,5 4,4 1,4 7,8 1,4 2,0 0,0 0,0 0,4 Cash Profit for Cash flow Change in R&D CAPEX Leasing Bank loans Changes in Cash 31.12.2025
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 12% 60% 9,9 % 10% 49,0 % 50% 47,4 % 46,8 % 8% 6,1 % 40% 6% 30% 4% 20% 2% 0% 10% -0,4 % -2% 0% 31.3.2024 31.3.2025 31.3.2026 31.3.2024 31.3.2025 31.3.2026 Return on Capital Employed (ROCE) was 9.9%. The equity rati
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 (2026 EBITDA) Last twelve months 100% 5,5x 90% 5,0x 80% 4,5x 70% 4,0x 3,5x 3,5x 60% 2,9x 3,0x 50% 46,3 % 42,5 % 2,5x 38,6 % 40% 1,9x 2,0x 30% 1,5x 20% 1,0x 10% 0,5x 0% 0,0x 31.3.2024 31.3.2025 31