Slide 1: Q4 Interim presentation 2025
Q4 Interim presentation2025 Kristine Lund, CEO Henning Hesjedal, CFO Webstep ASA - 12. February 2026, Oslo
Slide 2: Agenda
Agenda 01 Highlights from the quarter 02 Financial Review 03 Market update and outlook 2
Slide 3: Highlights from the quarter
Highlights from the quarter webstep
Slide 4: Q4 Highlights
Flexibility in salary models demonstrates the scalability of Webstep’s business model and helps protect margins in a challenging market, Q4 delivering a full-year EBIT margin of 7.8 per cent adjusted for one-off costs in Highlights Q4. The board of directors proposes for the Annual General Meeting a
Slide 5: Q4 highlights
Q4 highlights 205.5 Revenue, mNOK (225.6) 6.1 EBIT, mNOK (15.5) 2.9% EBIT margin (6.9%)
Slide 6: Financial review
Financial review webstep
Slide 7: Group results Q4
Group results Q4 ● Revenue NOK 205.5 million (225.6); a decline of 8.9 per cent, primarily driven by lower headcount ○ Hourly rates up compared to Q4 2024, as we continue to protect our hourly rates from price pressure ● EBIT NOK 6.1 million (15.5); decline in EBIT margin to 2.9 per cent (6.9) ○ Exc
Slide 8: Group results full year
Group results full year ● Revenue NOK 835.2 million (874.1); a decline by 4.5 per cent, driven by lower headcount and lower utilisation ● EBIT NOK 55.9 million (66.7); decline in EBIT margin to 6.7 per cent (7.6) ● FTE 400 end of period (446); down 46 FTE (10.3 per cent) from the same period last ye
Slide 9: Market update and outlook
Market update and outlook webstep
Slide 10: Market update and outlook (1)
Market update and outlook (1) Continues to sharpen our profile ● Transforming the organisation to leverage our competence base and our domain expertise to solve our customers’ challenges Strategic use of data and insight technologies continues to be prominent ● Webstep support clients in both moderni
Slide 11: Market update and outlook (2)
Market update and outlook (2) Several important contract wins during the quarter ● New frame agreement with Nkom ● Prolonged contracts with e.g. Aker, The Norwegian Armed Forces, Enova, Posten and Norwegian Courts Administration. Confidence in a gradual return to headcount growth ● Addressing consult
Slide 12: Questions?
Questions? If you have any questions or would like a more detailed walkthrough of Please contact us at ir@webstep.com Webstep’s latest quarterly results, please do not hesitate to get in touch. We are happy to provide further insights or schedule a presentation tailored to your interests. 12
Slide 13: Appendix
Appendix webstep
Slide 14: Key figures
Key figures NOK million Q4 2025 Q4 2024 FY 2025 FY 2024 Revenues 205.5 225.6 835.2 874.1 Change -8.9% 0.0% -4.5 % 1.5 % EBITDA 10.2 19.5 73.0 85.1 EBITDA margin 5.0 % 8.6 % 8.7 % 9.7 % EBIT 6.1 15.5 55.9 66.7 EBIT margin 2.9 % 6.9 % 6.7 % 7.6 % Net profit 5.6 12.5 42.0 49.5 Net free cash flow 47.1 43.7
Slide 15: Customer base characteristics
Customer base characteristics Private / Public The top 10 customers account for 59% of total revenue A large and loyal customer base in both private and public sector. Optimizing sales and strengthening our focus on the enterprise market and large clients. 65/35% 58% A diversified customer base betwe
Slide 16: Cash flow and net debt
Cash flow and net debt NOK million FY 2025 Cash and cash equivalents* −105,5 Restricted cash 0,4 Debt to credit institutions - Leasing liabilities (current and non-current) 57,1 Net interest bearing debt (NIBD) −48,1 NIBD/EBITDA (rolling 12 months) −0,7 NIBD/EBITDA (rolling 12 months) including IFRS
Slide 17: Top shareholders at 10 February 2026
Top shareholders at 10 February 2026 17
Slide 18: Revenue, EBIT and FTE development
Revenue, EBIT and FTE development Revenues (LTM) EBIT (LTM) Number of FTE (EoP) 18
Slide 19: Number of FTE EoP per geographical area
Number of FTE EoP per geographical area Q4 Q3 Q2 Q1 Q4 FTE | End of period 2025 2025 2025 2025 2024 Total 400 419 438 444 446 Oslo 191 193 205 209 213 Bergen 86 91 92 93 96 Trondheim 53 62 63 64 61 Stavanger 46 48 51 50 49 Sørlandet 18 20 20 20 20 Haugalandet 5 5 7 8 8 19
Slide 20: Disclaimers
Disclaimers This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, estimates and projections ab
Slide 21: Oslo Trondheim Bergen
Oslo Trondheim Bergen Sørlandet Stavanger Universitetsgata 2, Kongens gate 16, Damsgårdsveien 14, Skippergata 19, Verksgata 1a, 0164 Oslo 7011 Trondheim 5058 Bergen 4611 Kristiansand 4013 Stavanger