Netcompany Group A/s · OMXCOP:NETC
Netcompany Group A/s — Q3 2026 Earnings Presentation
35 slides from Netcompany Group A/s's earnings presentation, October 2026
Slide 1: Netcompany
Netcompany ) 3 J) @) J) 6 © 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 sta
Slide 3: Presenters
Presenters André Rogaczewski Thomas Johansen NETCOMPANY CEO NETCOMPANY CFO …will go through the financial performance …will go through the for Q3 2026 and the business highlights financial guidance for for Q3 2026. 2026. 3
Slide 4: Leading Europe’s digital future with sovereign AI
Leading Europe’s digital future with sovereign AI Q3 2026 highlights New contract wins Sovereign AI Strong momentum The third quarter was Our AI orchestration tool – continues, with 8.1% Group highlighted by the Feniks AI – continues to gain revenue growth in the third announcement of a five - year
Slide 5: Q3 2026 highlights
Q 3 2026 highlights ◼ Growth momentum continued into Q3 with Group revenue growth of 8.1%, bringing accumulated revenue growth for the first nine months of the year to more than 28% . ◼ Raise the floor for full - year 2026 revenue guidance : ◼ Group revenue growth between 18% and 20.5% ◼ Group revenue
Slide 6: New contract wins
New contract wins ◼ Netcompany appointed as digital delivery partner for NHS England's adult screening programmes, beginning September 2026 . ◼ Five - year contract valued at £215 million . ◼ Partnership encompasses all seven national adult screening programmes including breast, cervical, and bowel
Slide 7: Sovereign AI
Sovereign AI ◼ AI adoption is still accelerating, with increased focus on the actual delivery of solutions based on proven products and platforms delivering sovereign AI for highly regulated businesses. ◼ As part of the EU’s Tech Sovereignty Package, the Cloud and AI Development Act (CADA) proposes
Slide 8: Financial highlights
Financial highlights 8
Slide 9: Revenue Q3 2026
FINANCIAL HIGHLIGHTS Q3 2026 Comments Revenue Q3 2026 R evenue for the Group excluding Netcompany Banking Services grew 7.6% to 1,879.9 in Q3 2026 compared to same period last year. Total Group revenue increased 7.6% and Revenue in DKK million amounted to DKK 2,332.7m. Q3 2025 +7.6% Netcompany Denma
Slide 10: Revenue YTD 2026
FINANCIAL HIGHLIGHTS Q3 2026 Comments Revenue YTD 2026 In the first nine months of 2026 the Group excluding Netcompany Banking Services grew revenue by 12.6% compared to the first nine months of 2025. Revenue in DKK million Group revenue grew by 28.1% impacted by the YTD 2025 inclusion of Netcompany B
Slide 11: Adjusted EBITDA margin Q3 2026
FINANCIAL HIGHLIGHTS Q3 2026 Comments Adjusted EBITDA margin Q3 2026 Adjusted EBITDA margin before allocated HQ costs excluding NBS was 20.6% – an increase of 0.6 percentage points compared to Q3 2025, despite additional costs associated with the Netcompany INEOS cycling partnership. Adjusted EBITDA
Slide 12: Adjusted EBITDA margin YTD 2026
FINANCIAL HIGHLIGHTS Q3 2026 Comments Adjusted EBITDA margin YTD 2026 Adjusted EBITDA margin before allocated HQ costs excluding NBS was 17.4% in line with the same period last year despite lower licence revenue, increased costs to Agentic AI and the partnership with Netcompany INEOS. Adjusted EBITD
Slide 13: Workforce Q3 2026
FINANCIAL HIGHLIGHTS Q3 2026 Comments Workforce Q3 2026 Netcompany employed an average of 9,653 FTEs, which was an increase of 171 FTEs or 1.8% compared to Q3 2025 (9,482 FTEs). The Average FTEs increased to 9,653 increase in FTEs, was related to both client facing FTEs and FTEs in the Product 9,797
Slide 14: Cash flow Q3 2026
FINANCIAL HIGHLIGHTS Q3 2026 Comments Cash flow Q3 2026 In Q3 2026, the Group realised negative free cash flow of DKK 170.6m compared to negative DKK million Q3 2026 Q3 2025 % change * DKK 55.5m in Q3 2025. The development was mainly driven by development in working capital. Operating profit (EBIT)
Slide 15: Revenue visibility
FINANCIAL HIGHLIGHTS Q3 2026 Comments Revenue visibility By end of Q3 2026, revenue visibility was DKK 9,166.7m, of which contractually committed revenue amounts to DKK 1,860.2m and non - Revenue visibility for Netcompany Group contractually committed engagements amounts DKK million to DKK 91.1m. 91
Slide 16: Guidance 2026
FINANCIAL HIGHLIGHTS Q3 2026 Comments Guidance 2026 Based on revenue growth of 12.6%, excluding Netcompany Banking Services, for the first nine months of 2026 and taking into account the current backlog and weighted pipeline, Netcompany is raising the lower part of revenue guidance. Agenda 18%- 20.5
Slide 17: Appendix
Appendix 17
Slide 18: New contracts
APPENDIX Q3 2026 New contracts Agenda Public sector, Denmark Public sector, Denmark Private sector, SEE & EUI Public sector, UK Netcompany has been selected to develop, Netcompany has been selected to continue Netcompany ha s been selected to u pgrade Netcompany have been awarded a five - year confi
Slide 19: New contracts continued
APPENDIX Q3 2026 New contracts continued Agenda Public sector, Norway Private sector, SEE & EUI Private sector, Denmark Public sector, SEE & EUI Netcompany has been selected to maintain Netcompany will deliver services to transform Netcompany has entered a strategic Netcompany EUI, part of a consort
Slide 20: Highlights Q3 2026
HIGHLIGHTS Q3 2026 Highlights Q3 2026 Agenda +8.1% +16.9% +1.8% 2,343.8 420.1 9,482 9,653 2,167.8 359.3 Adjusted Average Revenue EBITDA FTEs +18.4% +1.4pp 698.9 Q3 2025 590.4 17.9% Adjusted 16.6% Q3 2026 EBITDA Gross profit margin Reported currencies 20
Slide 21: Gross profit margin Q3 2026
APPENDIX Q3 2026 Comments Gross profit margin Q3 2026 G ross profit margin excluding NBS was Q3 2026, compared to 30.7 % in Q3 2025 33 % in – as a result improvement in all business segments apart from Netcompany Norway and Gross profit margin Netcompany UK, that realised minor declines. Q3 2025 In
Slide 22: Gross profit margin YTD 2026
APPENDIX Q3 2026 Comments Gross profit margin YTD 2026 Gross profit margin excluding NBS was the first nine months of 2026, compared to 29.2 % in 28.7 % in the same period last year. Gross profit for the Group decreased 1 Gross profit margin percentage point to 26.5%, negatively impacted YTD 2025 by
Slide 23: Income statement Q3 2026
APPENDIX Q3 2026 Comments Income statement Q3 2026 Revenue grew by 8.1% in Q3 2026 compared to Q3 2025. The growth was driven by 7.6% growth DKK million Q3 2026 Q3 2025 % change* in revenue from the public sector and 8.8% growth in revenue from the private sector. Gross profit increased 18.4% in Q3
Slide 24: Income statement YTD 2026
APPENDIX Q3 2026 Comments Income statement YTD 2026 Total Group reported revenue grew by 28.2% during the first nine months impacted by the DKK million YTD 2026 YTD 2025 % change* Total 2025 inclusion of Netcompany Banking Services. Excluding Netcompany Banking Services, Group revenue grew by 12.7%
Slide 25: Work in progress overview
APPENDIX Q3 2026 Comments Work in progress overview As a total, trade receivables and work in progress increased by 35.6% from DKK 2,239.6m end of Q3 2025 to DKK 3,036.5m end Work in progress compared to revenue of Q3 2026, impacted by close to DKK 300m in outstanding receivables from RRF projects i
Slide 26: Working days
APPENDIX Q3 2026 Working days 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 +1 +1 0 0 0 0 0 Denmark -2 +2 +1 Norway 0 0 0 0 0 -2 0 0 0 0 0 0 0 UK -1 +3 +1 0 0 0 0 0 Netherlands -1 +1 0 0 0 0 0 Greece -1 -2 +1 +1 0 0 0 0 Belgium -1 -1 +1 +1 +1 +1 0 0 Luxembourg -1 -2 26
Slide 27: Statement of financial position
APPENDIX Q3 2026 Statement of financial position 30 September 30 September DKK million 30 September 30 September DKK million 2026 2025 2026 2025 Equity and liabilities Assets Goodwill 4,093.2 3,858.4 Share capital 46.0 47.5 Intangible assets 1,159.4 813.9 Treasury shares - 598.8 - 275.6 Tangible ass
Slide 28: Free cash flow
APPENDIX Q3 2026 Free cash flow 532.4 +207.2%* 317.9 67.9 25.6 41.2 * Where the comparative - 55.5 figure is negative, a positive change % reflects a decline rather than an improvement - 170.6 - 305.0 Q4 2024 Q1 2024 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 28
Slide 29: Cash conversion rate
APPENDIX Q3 2026 Cash conversion rate 381.4% 178.5% * 47.0% 32.6% 17.7% * Due to negative free cash flow and negative net profit in Q3 2025, cash conversion - 79.6% metrics are not applicable or meaningful for the period. - 176.2% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 29
Slide 30: Leading Europe’s digital future, responsibly
Leading Europe’s digital future, responsibly Our ambition is to become a leading modern pan-European tech company. We are positioned to achieve this by leveraging our role as a leading European IT services company with market-leading products and platforms. We are committed to enabling digitalisatio
Slide 31: Products and platforms
03. Products and platforms Our extensive portfolio of coding founda- tions, platforms, and products forms the engine of our growth strategy. These assets increasingly incorporate Al capabilities in the core that enhance automation and accelerate development cycles and thereby enable us to deliver so
Slide 32: IT spend
IT spend DKKbn in addition to total IT spend of DKK 1,368.8bn in 2025 in our xxisting markets, IT spend in ‘our target markets, consisting _ of Sweden and Germany, _ amounted DKK 924.5bn. mm Services, existing markets 002.4 { Services, target markets a7a7 Software, existing markets 706.4 Software, t
Slide 33: Market opportunities
Market opportunities Towards European market leadership Netcompany Is growing a strong presence across Europe, operating in Denmark, Norway, the UK, the Netherlands, Luxembourg, Belgium, Greece and other countries, aiming to become a leading mod- ern pan-European tech company. Our opera- tlons In No
Slide 34: Netcompany presence
Netcompany presence Netcompany presence 402 Norway 756 United Kingdom 2,986 Denmark 210 Netherlands 428 Vietnam 360 Belgium 888 Poland Average workforce 702 Luxembourg 20.8 % 9,845 2,923 Greece 34
Slide 35: netcompany.com
Netcompany netcompany.com