Core Insights - The company demonstrated strong growth and margin improvement in 2025, with a focus on product and platform strategies leading to significant contract wins and synergies from the merger with SDC A/S [3][4][5] Financial Performance - Organic revenue grew by 7.7% to DKK 7,044.1 million in 2025, with reported revenue increasing by 20.7%, of which 13 percentage points were attributed to non-organic growth from Netcompany Banking Services [5] - Organic adjusted EBITDA increased by 8.3% to DKK 1,188.8 million, yielding an organic adjusted EBITDA margin of 16.9% in constant currencies [5] - Free cash flow for 2025 was DKK 355.8 million, with a cash conversion ratio of 97.7% [5] Q4 2025 Highlights - In Q4 2025, organic revenue grew by 9.5% to DKK 1,838 million, while reported revenue increased by 34.9%, with 25.4 percentage points from non-organic sources [5] - Organic adjusted EBITDA rose by 19.6% to DKK 329.3 million, resulting in an organic adjusted EBITDA margin of 17.8%, an increase of 1.4 percentage points year-over-year [5] - The Group's adjusted EBITDA margin was 17%, compared to 16.4% in Q4 2024 [5] Guidance for 2026 - The company expects revenue growth of 5% to 10% for the Group excluding Netcompany Banking Services, and an adjusted EBITDA margin between 16% and 19% [5] - Including Netcompany Banking Services, revenue growth is anticipated to be between 15% and 20%, with an adjusted EBITDA margin of 15% to 18% [6] Strategic Focus - The integration of SDC into Netcompany Banking Services is progressing faster than expected, with initial synergies already materializing [4] - The company emphasizes the importance of leveraging components and AI to deliver solutions effectively in the European market [6]

Company Overview - Netcompany has completed the acquisition of SDC, valuing SDC at DKK 1 billion, with a cash payment of DKK 1 billion to SDC's shareholders [1][5] - The newly formed entity, Netcompany Banking Services A/S, will fully integrate SDC's operations, creating a subsidiary of Netcompany [5] Industry Position - This transaction provides Netcompany with a strong foothold in the financial services sector, which is the highest spending vertical within IT services in Europe [2] - The total addressable market in Denmark, Norway, and Sweden is estimated to exceed DKK 44 billion, with an expected annual growth rate of over 10% towards 2028 [2] Financial Guidance - For 2025, Netcompany maintains its organic revenue growth expectation between 5% and 10%, with an adjusted EBITDA margin between 16% and 19% [6] - The transaction is anticipated to have a dilutive impact on EPS for the financial year 2025 but is expected to be EPS accretive from 2026 onwards, with double-digit percentage accretion by 2028 compared to 2024 [5][10] Integration and Future Plans - All SDC employees will relocate to Netcompany's headquarters in Copenhagen starting January 2026 to facilitate integration [5] - Netcompany plans to disclose expected non-organic revenue and EBITDA for 2025 in the Q2 Interim Report, along with annual synergies and integration costs in the Q3 Interim Report [7][8] Shareholder Returns - Netcompany intends to reinitiate its share buyback program in connection with the Q2 Interim Report, with leverage expected to be around 1.5x by the end of 2025 [9] - The ambition to buy back shares totaling DKK 2 billion from 2024 to the end of 2026 remains intact, with revised long-term financial aspirations to be communicated on 31 October 2025 [10]