Netcompany Group A/s · OMXCOP:NETC
Netcompany Group A/s — Q2 2025 Earnings Presentation
36 slides from Netcompany Group A/s's earnings presentation, Aug 14, 2025
Slide 1: Netcompany
Netcompany re) 2 y) @) y) 5 © 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 stateme
Slide 3: Presenters
Presenters André Rogaczewski Thomas Johansen NETCOMPANY CEO AND CO-FOUNDER NETCOMPANY CFO …will go through the financial performance …will go through the for Q2 2025 and business highlights financial guidance for for Q2 2025. 2025. 3
Slide 4: We are dedicated to responsible digitalisation
HIGHLIGHTS Q2 2025 We are dedicated to responsible digitalisation EUROPEAN DIGITALISATION AI PRODUCTS AND PLATFORMS European governments and Leveraging AI enables us to Acceleration of our product and the European Union’s focus on deliver more intelligent, automated platform strategy introduced in t
Slide 5: Netcompany Banking Services
HIGHLIGHTS Q2 2025 Netcompany Banking Services Innovative banking services anchored in trust, efficiency, and customer-centricity. • Welcome to all employees of Netcompany Banking Services • Transaction closed on 1 July • Integration is progressing as planned • New module and product roll out expect
Slide 6: New contracts
HIGHLIGHTS Q2 2025 Public sector, Denmark New contracts Netcompany has been selected as vendor on Lex Dania for the Department of Civil Affairs. Public sector, Denmark The solution handles the entire legislation process spanning from writing the legislative Netcompany has won the SKI 02.06 tender fo
Slide 7: New contracts continued
HIGHLIGHTS Q2 2025 New contracts continued Public sector, SEE & EUI Netcompany was awarded a contract with the Independent Authority Labor Inspectorate in Greece. The contract is an agreement to Agenda Private sector, SEE & EUI provide hardware, system and application software including maintenance
Slide 8: Financial highlights
Financial highlights 8
Slide 9: Revenue Q2 2025
FINANCIAL HIGHLIGHTS Q2 2025 Comments Revenue Q2 2025 Revenue increased by 3.9% on Group level driven by increased activity in SEE & EUI, UK and Norway compared to the same quarter last year. Revenue in DKK million Revenue in Netcompany Denmark declined Q2 2024 3.9%, driven by the development in bot
Slide 10: Revenue H1 2025
FINANCIAL HIGHLIGHTS Q2 2025 Comments Revenue H1 2025 Revenue increased by 6.4% on Group level driven by the public sector, including EU, while the private sector revenue was on level with the Revenue in DKK million same period last year. YTD 2024 Revenue in Netcompany Denmark declined YTD 2025* 0.3
Slide 11: Adjusted EBITDA margin Q2 2025
FINANCIAL HIGHLIGHTS Q2 2025 Comments Adjusted EBITDA margin Q2 2025 Adjusted EBITDA margin at Group level decreased 3.4 percentage points to 13.8% in Q2 2025 compared to 17.2% in Q2 2024. Adjusted EBITDA margin (before allocated cost from HQ) In Denmark, margin was 16.5% in Q2 2025 Q2 2024 compared
Slide 12: Adjusted EBITDA margin H1 2025
FINANCIAL HIGHLIGHTS Q2 2025 Comments Adjusted EBITDA margin H1 2025 Adjusted EBITDA margin at Group level decreased 0.6 percentage points to 16.2% in the first six months of 2025 compared to 16.8% in Adjusted EBITDA margin (before allocated cost from HQ) the same period last year. YTD 2024 In Denma
Slide 13: Workforce Q2 2025
HIGHLIGHTS Q2 2025 Comments Workforce Q2 2025 The number of client facing FTEs for the Group increased by 426 from 7,365 in Q2 2024 to 7,791 in Q2 2025. FTEs increased to 8,333 The attrition rate for the last twelve months was 18.2%, which was an increase 8,333 8,242 of 0.9 percentage point compared
Slide 14: Cash flow Q2 2025
FINANCIAL HIGHLIGHTS Q2 2025 Comments Cash flow Q2 2025 In Q2 2025, free cash flow was DKK 25.6m compared to DKK 148.2m in Q2 2024, which was DKK million Q2 2025 Q2 2024 % change a decrease of DKK 122.6m. Adjusted for taxes paid on account, the Group generated a free cash flow of DKK 11.5m in Q2 Ope
Slide 15: Allocation to shareholders
FINANCIAL HIGHLIGHTS Q2 2025 Comments Allocation to shareholders Aspiration announced in connection with the capital markets day in 2023 – to allocate DKK 2bn back to the shareholders by the end of Share buyback 2026. Share buybacks of DKK 800m equal to 2.6m shares realised so far. Share capital red
Slide 16: Revenue visibility
FINANCIAL HIGHLIGHTS Q2 2025 Comments Revenue visibility The organic revenue visibility end of Q2 2025 was DKK 6,210.6m, which was an increase of 6.3% compared to DKK 5,841.2m in Q2 2024. Total revenue visibility for Netcompany Group The revenue visibility for 2025 consists of DKK million contractua
Slide 17: Guidance 2025
HIGHLIGHTS Q2 2025 Comments Guidance 2025 Based on realised revenue growth and adjusted EBITDA margin in the first six month of 2025, and taking the current and weighted pipeline into perspective, and the expectation that the second quarter of 2025 Agenda will be delivering the lowest adjusted EBITD
Slide 18: Appendix
Appendix 18
Slide 19: Highlights Q2 2025
HIGHLIGHTS Q2 2025 Highlights Q2 2025 Agenda +3.9% -18.0% +5.7% 1,650.2 1,714.9 269.1 7,884 8,333 220.7 Adjusted Average Revenue EBITDA FTEs -8.8% 485.7 -3.4pp 442.9 16.3% Adjusted 12.9% Q2 2024 EBITDA Q2 2025 Gross profit margin Reported currencies 19
Slide 20: Denmark UK Norway
APPENDIX Q2 2025 Constant currencies (2024 rate) Denmark UK Norway Netherlands SEE & EUI Revenue decreased by Revenue increased by 10.9% Revenue increased by 8.1% to Revenue decreased by 2.4% to Revenue increased 12.9% to DKK Revenue 3.9% to DKK 759.8m. to DKK 160.2m. DKK 89.6m. DKK 49.5m. 655.9m. A
Slide 21: Gross profit margin Q2 2025
FINANCIAL HIGHLIGHTS Q2 2025 Comments Gross profit margin Q2 2025 Gross profit margin decreased by 3.6 percentage points to 25.8%, compared to Q2 2024. This was a consequence of resources Gross profit margin (before depreciation and amortisation) allocated to investments in our future and fewer work
Slide 22: Gross profit margin H1 2025
FINANCIAL HIGHLIGHTS Q2 2025 Comments Gross profit margin H1 2025 Gross profit margin was 27.7% in the first six months of 2025 compared to 28.6% in the same period last year. The decrease in margin was a Gross profit margin (before depreciation and amortisation) result of the increased investments
Slide 23: Income statement Q2 2025
APPENDIX Q2 2025 Comments Income statement Q2 2025 Revenue increased by 3.9% to DKK 1,714.9m in reported currencies. The development in revenue was negatively impacted by DKK million Q2 2025 Q2 2024 % change investments in our future and fewer working days in Denmark, the Netherlands, Norway and Rev
Slide 24: Work in progress overview
FINANCIAL HIGHLIGHTS Q2 2025 Comments Work in progress overview As a total, trade receivables and work in progress decreased by 5.3% from DKK 2,171.2m end of Q2 2024 to DKK 2,055.6m end of Q1 Work in progress compared to revenue 2025. The development was caused by the significant increase in prebill
Slide 25: Public sector Q2 2025
APPENDIX Q2 2025 Comments Public sector Q2 2025 Revenue from the public sector grew 4.4% in Q2 2025 driven by an increase in SEE & EUI, UK and Norway. Public revenue in SEE & EUI, UK, Norway and Netherlands increased by 6.7%, 23.3%, and DKKmillion million Q1 20.8%, respectively. DKK Q22025 2025 Q1 Q
Slide 26: Private sector Q2 2025
APPENDIX Q2 2025 Comments Private sector Q2 2025 Private revenue increased 2.8% compared to the same period last year driven by SEE & EUI and somewhat offset by decreased revenue from the private sector in Denmark, UK and Norway. Revenue from the private sector in SEE & EUI increased by 33.1%. DKKmi
Slide 27: Working days
APPENDIX Q2 2025 Working days 2024 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 +3 +1 +1 0 0 Denmark -1 -3 -2 +3 +2 +1 0 0 Norway -1 -4 -2 +2 +1 +1 UK 0 0 0 0 -1 +3 +1 +1 +1 Netherlands 0 0 -1 -1 +1 +1 +1 Greece 0 0 0 0 +2 -2 +1 +1 0 0 0 Belgium -1 -1 +2 +1 +1 +1 Luxembourg 0 0 -1 -2 27
Slide 28: Statement of financial position
APPENDIX Q2 2025 Statement of financial position DKK million 30 June 30 June DKK million 30 June 30 June 2025 2024 2025 2024 DKK million 31 March 31 March Assets Equity and liabilities 2025 2024 Share capital 47.5 50.0 Intangible assets 3,708.5 3,717.0 Assets Treasury shares -129.9 -438.9 Tangible a
Slide 29: Free cash flow
APPENDIX Q2 2025 Free cash flow -82.7% 532.4 382.6 148.2 145.3 100.4 67.9 25.6 -4.9 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 29
Slide 30: Cash conversion rate
APPENDIX Q2 2025 Cash conversion rate 431.1% -72.1pp 381.4% 104.7% 93.0% 89.5% 47.0% 32.6% -4.3% Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 30
Slide 31: Our ambition
Our ambition Empowering Europe’s responsible digitalisation with IT talents Netcompany ee Purpose Our purpose is to leverage our digital know-how, talents and technology to build a modern Europe that values democracy, justice, transparency, and social security, empowering societies and citizens. | =
Slide 32: Equity story
Equity story Leading Europe’s digital future by 2030 Netcompany’s ambition is clear and resolute: to become a market leader in IT services in Europe by 2030. This goal is underpinned by a strategic focus on expansion, innovation, and leveraging our unique delivery capabilities and methodologies. Our
Slide 33: Exporting and implementing our business model
Exporting and implementing our business model Our business model and methodolo- gies are integral to our success: Proven methodology ‘Our approach to developing and implement- Ing complex solutions |s unique and difficult to emulate. This methodology will be applied to new joint projects with acquir
Slide 34: Business model
Business model Built to innovate Europe with responsible digitalisation Netcompany is a leading provider of next-generation IT solutions, focusing on three key elements: People, Sales & Delivery, and Execution. We create products, platforms, and solutions that ensure transpar- ent and easy access to
Slide 35: Netcompany presence in 2024
Netcompany presence in 2024 8,260 Workforce at year-end 26.4% @ Greece 2,825 Denmark 2,322 @ Luxembourg 750 i United Kingdom 679 1 Poland 487 1 Norway 379 1 Belgium 339 Vietnam 317 Netherlands 201 Others 61 The map indicates cou we have more than 60 Vietnam inwhich smployees 35
Slide 36: netcompany.com
Netcompany netcompany.com