Learnd Se Class A · XETR:LRND
Learnd Se Class A — AnchorCore — H1 2026 Earnings Presentation
15 slides from Learnd Se Class A's earnings presentation, Sep 30, 2026
Slide 1: Half-Year Results 2026
Half-Year Results 2026 Investor presentation · Results and outlook 3 0 J U N E 2 0 2 6 · I N V E S T O R R E L AT I O N S 3 0 S E P T E M B E R 2 0 2 6
Slide 2: Disclaimer
L E G A L Disclaimer Important information regarding this presentation NO OFFER FORWARD-LOOKING STATEMENTS FINANCIAL INFORMATION This presentation does not constitute an offer or invitation to This presentation contains forward-looking statements based on Group figures are taken from the unaudited c
Slide 3: Agenda
C O N T E N T S Agenda Half-year results presentation 2026 — five sections 01 Group highlights → Financial highlights and result for the period 02 learnd UK and Ireland Group → Operating performance in the first half-year 2026 03 Financial statements → Income statement, balance sheet and cash flow 0
Slide 4: Group financial highlights
H 1 2 0 2 6 Group financial highlights Unaudited IFRS figures · GBP millions unless stated otherwise · six months ended 30 June 2026 RESULT FOR THE PERIOD TOTAL COMPREHENSIVE INCOME EARNINGS PER SHARE (2.21) (2.47) (0.17) GBP m · AFT loan waiver of 3.96 recognised in equity, not GBP m · after (0.26)
Slide 5: Result for the period
H E A D L I N E Result for the period Loss includes a significant non-cash VAT write-off and costs relating to the 2025 year end and MBO transaction · H1 2026 unaudited · GBP millions BRIDGE — GBP THOUSANDS RESULT FOR THE PERIOD — GBP m (1,038.7) Non-cash write-off of input VAT after acceptance of t
Slide 6: learnd UK and Ireland Group — H1 2026
I N V E S T E E learnd UK and Ireland Group — H1 2026 Operating performance of the learnd Group in the first half-year · GBP · 49.5 % interest of AnchorCore SE, equity method KEY FIGURES — H1 2026 H1 2026 HIGHLIGHT GBP 3.6 m Revenue GBP 28.8 m Gross profit GBP 10.6 m · margin 36.6 % EBITDA before ex
Slide 7: Financial statements
03 S E C T I O N Financial statements Income statement, balance sheet and cash flow — unaudited, IFRS, GBP
Slide 8: Statement of comprehensive income
I N C O M E S TAT E M E N T Statement of comprehensive income Unaudited · GBP · H1 2026 vs H1 2025 (re-presented under IFRS 5) Line item H1 2025 H1 2026 Δ% Notes Administrative expenses (926,650) (2,115,628) +128 % Incl. (1,038,711) non-cash write-off of input VAT and (792,561) accounting, audit and
Slide 9: Statement of financial position
B A L A N C E S H E E T Statement of financial position Unaudited · GBP · 30 June 2026 vs 31 December 2025 (audited) Line item 31 Dec 2025 30 Jun 2026 Δ% Notes Equity-accounted investee 17,546,864 17,296,597 (1) % 49.5 % of the learnd Group, equity method Trade and other receivables 2,853,206 914,27
Slide 10: Statement of cash flows
C A S H F L O W Statement of cash flows Unaudited · GBP · H1 2025 cash flows include learnd Ltd, consolidated throughout that period Line item H1 2025 H1 2026 Δ% Notes Net cash from / (used in) operating activities 1,783,626 (2,041,442) n/a Holding costs and settlement of 2025 year-end liabilities N
Slide 11: Outlook 2026: Streamlined and debt-free
OUTLOOK 2026 Streamlined and debt-free. learnd Group: materially higher adjusted EBITDA margin expected in 2026; the Group's share of the result before PPA amortisation is expected to remain positive. E Q U I T Y- M E T H O D V A L U E GBP 17.3 m Source: Unaudited Half-Year Interim Report 2026 — sec
Slide 12: Outlook 2026
O U T L O O K Outlook 2026 Expectations for the financial year 2026 per the Half-Year Report Expectation for 2026 Half-Year Report 2026 Comment learnd Group revenue growth in the region of 5 % Deliberate shift in the business mix towards the service business, which carries higher margins but a lower
Slide 13: Share information and subsequent events
T H E S H A R E Share information and subsequent events Class A shares · ISIN LU2358378979 · ticker LRND · Frankfurt Stock Exchange, General Standard SHARE DATA — 30 JUNE 2026 SUBSEQUENT EVENTS July 2026 Class A shares issued 24,733,237 Treasury shares 12,028,066 Shares outstanding 12,705,171 Renami
Slide 14: Exchange rates and sources
A P P E N D I X Exchange rates and sources GBP per EUR, ECB euro foreign exchange reference rates · source documents of this presentation EXCHANGE RATES SOURCES Closing rate 30 June 2026 0.86178 REPORT Unaudited Half-Year Interim Report 2026 (IAS 34), authorised 29 Sep, published 30 Sep 2026 Average
Slide 15: Investor Relations
I N V E S T O R R E L AT I O N S C O N T A C T Investor Relations Capital markets enquiries · Financial reports, releases and share information P H O N E E M A I L W E B +49 201 79989858 [email protected] anchorcore.com Capital markets enquiries Direct line to the IR team IR portal — reports & relea