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]