Slide 1: Admicom Oyj Q2 2025 interim report
Admicom Oyj Build Better. Together! Q2 2025 interim report 8 July 2025 Simo Leisti, CEO Satu Helamo, CFO
Slide 2: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q2 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 3: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 4: Q2 Customer cases
Q2 Customer cases Strategic importance: New Ultima customer • New Ultima / ERP customers • Growth in Bauhub customers in Finland New Bauhub customer • New customers with multiple products in use New Ultima and Quantima customer • New AI functionalities in pilot
Slide 5: AI development
AI development Construction site operations
Slide 6: Examples of piloted use cases with AI
Examples of piloted use cases with AI 1. Communication and reporting: Automated compiling of status reports from documents and schedule. 2. Data update: Modifying the schedule or completion status on the construction site with a chat interface. 3. Weekly status and final reporting: Creating a weekly
Slide 7: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 8: Our vision
Our vision First choice of partner in the European construction software ecosystem
Slide 9: Our mission
Our mission Our customers are +25% more productive than their peers Best workplace Comprehensive AI-enabled platform 2030: Build better. Together! 100M€ ARR Present in numerous markets Superior customer and employee experience
Slide 10: Our operating model
Our operating model Leadership Operations, systems and KPIs Growth operations Customer-centric Accounting service operational Platform operations excellence Business Enablement
Slide 11: Admicom Leadership Team
Admicom Leadership Team Simo Leisti Satu Helamo Chief Financial Officer & Pekka Pulkkinen Henna Kotilainen CEO Deputy CEO Chief Growth Officer Chief Strategy Officer 1.9.2025- M.Sc. (Industrial Eng. & Mgmt) M.Sc. (Econ.) M.Sc. (Econ.) M.Sc. (Econ.) Teemu Uusitalo Thomas Raehalme Helena Marjokorpi Ch
Slide 12: New CSO Henna Kotilainen
New CSO Henna Kotilainen • Henna Kotilainen (M. Sc. Econ.) has been appointed Chief Strategy Officer (CSO) and member of the Leadership Team (LT) of Admicom Oyj starting 1st of September 2025. • Expertise in strategy and business development → instrumental in advancing our company-wide strategy, par
Slide 13: Strategy execution streams
Strategy execution streams 1. Growth acceleration 2. Internationalization 2030: 3. Unified platform experience 100M ARR 4. Target operating model “First choice of partner in 5. Equity story and incentives the European construction software ecosystem” 6. Winning culture, teams and talent 7. Accountin
Slide 14: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q2 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 15: Revenue trend highlights the slowness in market recovery
Revenue trend highlights the slowness in market recovery ▪ On average +2% revenue growth y/y in first five months of 2025 against Revenue in construction, % change y/y extremely low comparison point. ▪ Order books in construction remain low, number of employees 5 5,0 expected to decline. Constructio
Slide 16: Annual adjustment fees impacting growth and profitability – change to the billing model started
Annual adjustment fees impacting growth and profitability – change to the billing model started ▪ Growth weakened by impact from the annual adjustment fees (-0.4M YoY). ▪ Change regarding Ultima and Accounting billing model on the way – transitioning to +4% monthly invoicing based on historical roll
Slide 17: Key figures of Q2 2025
Key figures of Q2 2025 ARR growth Recurring revenue Revenue growth growth 6.0%* 4.3%* 2.2%* (6.7%) (1.7%) (0.7%) Adjusted EBITDA Customer churn LTM Recurring revenue of total revenue 32.0% 6.0% 96% (38.4%) (FY2024: 5.6%) (94%) * Impact of inorganic Bauhub acquisition: ARR growth +5.0 %-points, recur
Slide 18: Key financials Q2
Key financials Q2 (EUR 1,000) Q2 2025 Q2 2024 VAR y/y Q1 2025 VAR q/q H1 2025 H1 2024 VAR y/y ARR 35,689 33,676 6.0 % 35,618 0.2 % 35,689 35,683 0.0 % Recurring revenue 9,342 8,955 4.3 % 8,793 6.2 % 18,135 16,552 9.6 % • Decline in annual adjustment fees impacting growth and profitability % of reven
Slide 19: ARR trend
ARR trend +6.0% Q2 q/q growth +0.2%, where adjustment fees’ negative impact -1.0%. 35,7 35,6 35,7 33,8 33,7 34,0 31,6 32,6 32,5 29,6 30,0 30,7 28,9 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25
Slide 20: ARR bridge
ARR bridge M&A in 2024 includes Trackinno & Bauhub
Slide 21: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 22: Outlook 2025
Outlook 2025 + Market expected to improve, but speed of recovery slower than expected ARR growth + Ultima billing model change + New and up/cross sell opportunities improving with market and 8-14% investments into sales & marketing and customer experience (2024: 35.7m) + Moderate reduction in churn
Slide 23: Ultima & Accounting billing model transformation
Ultima & Accounting billing model transformation: Annual adjustment fees will be gradually phased out starting from Q4 2025 Current billing New billing • Post-cyclical revenue development, almost 1,5 years ✓ Revenue develops in line with the construction industry behind the industry cycle • One off
Slide 24: Agenda
Agenda ▪ Customer cases – Simo Leisti ▪ Admicom strategy execution - Simo Leisti ▪ Q1 2025 financials - Satu Helamo ▪ Financial Outlook for 2025 – Satu Helamo ▪ Q&A
Slide 25: Build Better. Together!
S admicom Build Better. Together!