Slide 1: Stable result development and new business area
Stable result development and new business area Interim report January – December 2025 INVESTOR PRESENTATION / FEBRUARY 2026
Slide 2: Today's presenters
Today’s presenters Per Wallentin Marie Björklund CEO & President CFO
Slide 3: Q4 in brief
Q4 in brief A positive end * Margin improvement in all four business areas, first time since Q122 to the year * and Improved utilization, increased efficiency proactive sales shape the quarter and the year * Establishment of new business area, Products, for consulting services based on in house deve
Slide 4: Business area Solutions
Operations Business area Solutions Nordic market leader in systems development * Solid improvement driven by positive trend in Sweden, following clear change in the fall * Long-term efforts to improve client dialogues bear fruit, building confidence for the future * Positive utilization development
Slide 5: Business area Experience
Marketing & sales Business area Experience The largest digital agency in the Nordic region * Utilization improving month by month with Sweden driving the positive development * Intense sales focus has resulted in broadened client base and strong pipe line going into the new year * Move toward more a
Slide 6: Business area Connectivity
Research & development Business area Connectivity Supporting a connected world * Continued improvement in utilization and back to organic growth with improved margins * Defense related assignments develop strongly * Broadened business and strengthened market position, despite continued challenges fo
Slide 7: Business area Insight
Management teams Business area Insight Management consultants from strategy to implementation * Positive and to the year with margins improving in Q4, driven by a healthy trend in utilization * Market remain uncertain and volatile, with intense competition in some areas * Increased requirements on s
Slide 8: Q4 in figures
Q4 in figures INVESTOR PRESENTATION / OCTOBER 2025
Slide 9: Financial quarter October – December 2025
Financial quarter October – December 2025 1,492.0 116.0 7.8% Net sales decreased Adjusted EBITA The adjusted EBITA by 9.1% (1,641.9) million increased compared to last year margin increased to 7.8% (6.5%) (106.6 million)
Slide 10: Financial year January – December 2025
Financial year January – December 2025 5,798.0 337.1 5.8% Net sales decreased Adjusted EBITA The adjusted EBITA by (9.6)% (6,415.7) million decreased compared to last year margin decreased to 5.8% (6.2%) (395.0 million)
Slide 11: Increased dividend and goodwill impairment
Increased dividend * Goodwill impairment of SEK 399 M, related to acquisition of Cybercom in 2021, and goodwill reported as an item affecting comparability impairment * An adjustment to changed market conditions during the recession * profitability or cash flow Impairment not impacting underlying *
Slide 12: Net debt development
Net debt development Net debt development • Healthy balance sheet and solid financial position SEK, MILLION Q4 25 Q3 25 Q2 25 Q1 25 Q4 24 Cash equivalents 326 212 241 363 398 • Net debt of 433 MSEK Interest-bearing liabilities 333 400 400 500 500 • Within the frame of our financial target of maximum
Slide 13: Revenues and EBITA Adjusted development
Revenues and EBITA Adjusted development Net sales, SEK, millions Adjusted EBITA profit, SEK, millions 7,097 498 6,416 5,798 395 338 1,594 1,824 1,642 1,492 1,326 1,766 1,222 1,681 1,491 148 136 105 107 116 94 63 58 54 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 23 Q1 24 Q2 24 Q3 24 Q4 2
Slide 14: Sales per client segment
Sales per client segment Strong and diversified important in unsecure market • Continued positive development in the public sector, driven by strong position in Norway and good delivery • Stable development in the retail sector Sales per client industry, October – December 2025 • Industry segment de
Slide 15: In summary
In summary * Positive result development in all four business areas driven by healthy trend in utilization rates * New business area Products focusing on IP based solutions with clear client value and loyalty * Going into 2026 with a strengthened position in data and AI, supporting our clients digit
Slide 16: Tack/Takk/Kiitos
Slide 17: Slide 17