Slides
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Business Review Q3 2026 CEO Juho Ahosola and CFO Matti Säkkinen Talenom Plc 22 October 2026
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Juho Ahosola Chief Executive Officer juho.ahosola@talenom.fi +358 50 525 6043 Matti Säkkinen CFO matti.sakkinen@talenom.fi +358 41 433 8544
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Content • New Talenom in brief • Q3 2026 highlights and strategic development • Financial performance • Outlook and guidance • Q&A
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New Talenom in brief
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Talenom at glance Talenom is a modern provider of financial management services. We help entrepreneurs succeed through a comprehensive range of accounting, payroll, and consulting services. We operate in Finland, Sweden, and Spain, and grow both organically and through strategic acquisitions. Talenom combines strong local expertise with the scalable ONE Talenom concept, which enhances customer and employee experience as well as profitability. Together with best-in-class digital tools, this creates a solid foundation for sustainable and well-managed growth.
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We support our clients with a comprehensive offering – tailored to their specific needs Accounting services Payroll services Account Receivable services Legal services HR services CFO & Financial manager services Corporate tax planning Investment planning Business intelligence (BI) services Group accounting & reporting Entrepreneur tax planning Reporting development Value-added services Core services Industry-focused solutions for selected industries
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Markets: Significant market potential in our operating countries • The accounting services market in Europe is highly fragmented. • Rising regulatory demands are shaping the market towards growth and consolidation • Our market share remains relatively small across all our operating countries. We see significant growth potential in our existing markets. Spain Finland Sweden Talenom’s relatively small market share in bigger market Talenom’s relatively big market share in very fragmented market Market size: 1.4 billion € Market share ~5% Market size: 12 billion € Market share ~0.1% Market size: 2 billion € Market share ~1% Talenom’s very small market share in a very large market
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Q3 2026 highlights and strategic development
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Q3 2026 highlights • The third quarter was a time of steady progress and the implementation of strategic priorities for Talenom. • Our Group’s net sales grew and comparable EBITDA improved in all of our operating countries. • Finland’s strong profitability continues to form a solid foundation for the Group. • In Sweden, improving profitability has progressed according to our plans. • In Spain, we have continued to build growth while profitability is gradually developing in a better direction. • During the third quarter, we continued to develop and expand the use of AI, focusing on AI in everyday work, business processes and creating value for our customers.
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2026 strategic priorities Implementation of the new strategy in all operating countries • Operations commenced as an independent service company on 1 March 2026 • Systematic implementation of ONE Talenom concept 01. 02. 03. Improving profitability in Sweden and Spain • Adjusting resources in relation to business operations • ONE Talenom concept to support profitability Implementing the growth strategy in all operating countries • Focus on organic growth and software strategy • Growth through selective acquisitions
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• We continued to implement our strategy across all our operating countries, with good progress. • We continued also systematic work with the ONE Talenom concept across all our operating countries, and the implementation is progressing as planned. • We continued to systematically implement our new software strategy, progressing in line with our expectations. Strategy progress Q3/2026 01. Implementation of the new strategy in all operating countries 02. Improving profitability in Sweden and Spain 03. Implementing the growth strategy in all operating countries
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Strategy progress Q3/2026 01. Implementation of the new strategy in all operating countries • Sweden: • The profitability trend in Sweden continued in the right direction during the review period, which has been our main priority this year. • We will focus even more strongly on developing sales and building growth. We have also renewed our organisational structure to support our sales. • Spain: • During the reporting period, we made further progress in improving profitability. • Progress in profitability was slowed by acquisition integration costs and higher software costs than in the previous year. • We see significant growth potential in the Spanish market. 02. Improving profitability in Sweden and Spain 03. Implementing the growth strategy in all operating countries
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Strategy progress Q3/2026 01. Implementation of the new strategy in all operating countries • We continued work on our growth strategies across all countries. We believe that a broader software offering will, over time, open up significant growth potential. • We continued our systematic sales and marketing efforts across all our operating countries. 02. Improving profitability in Sweden and Spain 03. Implementing the growth strategy in all operating countries
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Talenom has long been a pioneer in the digital development of the financial administration industry, and we want to reinforce this position in the future as well. During the third quarter, we significantly increased our focus on AI across the Group. We see significant opportunities in artificial intelligence to improve our service quality, productivity and competitiveness in the coming years. We focus on three areas: AI at Talenom 01. Leveraging artificial intelligence in everyday work 02. Developing processes with the help of artificial intelligence 03. Creating new customer value Customers don't pay for routine accounting tasks – they pay for peace of mind, knowing that someone takes responsibility, anticipates their needs, and is always there when needed.
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Comparable net sales Q3 (EUR million) Comparable net sales increased, driven by Finland and Spain +3.6% Q3 2026 financial highlights (continuing operations) Comparable EBITDA Q3 (EUR million) Comparable EBITDA increased, profitability improved in all operating countries +19.6% Comparable operating profit Q3 (EUR million) Comparable operating profit increased +54.8% 24.6 25.4 Q3/2025 Q3/2026 4.8 5.8 Q3/2025 Q3/2026 1.4 2.2 Q3/2025 Q3/2026
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Finances
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24.6 25.4 0 10 20 30 Q3/2025 Q3/2026 The Group’s comparable net sales development (continuing operations) • Net sales increased in Spain and Finland but decreased in Sweden due to high customer churn in the previous year. Comparable net sales Q3 (EUR million)Comparable net sales January- September (EUR million) +3.6% 83.2 86.3 0 20 40 60 80 1-9/2025 1-9/2026 +3.6%
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16.7 17.0 0 4 8 12 16 20 1-9/2025 1-9/2026 4.8 5.8 0 2 4 6 Q3/2025 Q3/2026 The Group’s comparable EBITDA development (continuing operations) • Comparable EBITDA improved from the comparison period in all our operating countries. 19.6% 22.6% Comparable EBITDA Q3 (EUR million) +19.6% Comparable EBITDA January-September (EUR million) +2.1% 20.0% 19.7% Comparable EBITDA excl. non-recurring impairment of EUR 1.2 million, recorded in Q2/2026
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6.5 6.5 0 2 4 6 8 1-9/2025 1-9/2026 1.4 2.2 0 0,5 1 1,5 2 2,5 Q3/2025 Q3/2026 The Group’s comparable operating profit development (continuing operations) • Comparable operating profit increased compared to the comparison period. Comparable operating profit Q3 (EUR million) +54.8% 5.8% 8.7% Comparable operating profit January- September (EUR million) +0.6% 7.8% 7.6%
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15.9 16.2 0 4 8 12 16 20 Q3/2025 Q3/2026 Finland’s comparable net sales development (continuing operations) Comparable net sales Q3 (EUR million) +2.0% • The growth was entirely organic. • There were no significant changes in the general economic environment during Q3. +2.4% Comparable net sales January-September (EUR million) 53.8 55.1 0 15 30 45 60 1-9/2025 1-9/2026
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4.9 5.4 0 2 4 6 Q3/2025 Q3/2026 15.9 17.0 0 4 8 12 16 20 1-9/2025 1-9/2026 Finland’s comparable EBITDA development (continuing operations) • The comparable EBITDA improved during the review period. • We have actively managed our cost level to meet the challenging growth environment. Comparable EBITDA Q3 (EUR million) +10.5% 30.8% 33.4% +6.9% 29.5% 30.8% Comparable EBITDA January- September (EUR million)
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16.9 15.2 0 4 8 12 16 20 1-9/2025 1-9/2026 4,3 3,9 0 2 4 6 Q3/2025 Q3/2026 Sweden’s comparable net sales development (continuing operations) Comparable net sales Q3 (EUR million) • Net sales decreased due to high customer churn in 2025. • As customer churn has stabilized, our focus is increasingly on sales and building future growth. Comparable net sales January-September (EUR million) -9.7% -10.4%
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-0.1 0.6 -0,2 0,0 0,2 0,4 0,6 1-9/2025 1-9/2026 Sweden’s comparable EBITDA development (continuing operations) • Costs have been adjusted due to the decrease in revenue, and this is gradually reflected in improved profitability. • We remain on track to achieve positive EBITDA this year. Comparable EBITDA Q3 (EUR million) 1.9% +1,146.6% Comparable EBITDA January- September (EUR million) -0.4% 4.1% +126.1% -0.3 0.1 -0,3 -0,2 -0,1 0,0 0,1 0,2 Q3/2025 Q3/2026 -6.4%
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4.4 5.4 0 2 4 6 Q3/2025 Q3/2026 Spain’s comparable net sales development (continuing operations) Comparable net sales Q3 (EUR million) • Growth in Spain came mainly from acquisitions. • New customer acquisition continued to perform steadily, supporting net sales development in the future. Comparable net sales January-September (EUR million) +26.8% 12.6 16.0 0 4 8 12 16 1-9/2025 1-9/2026 +23.4%
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0.2 0.3 0 0,1 0,2 0,3 Q3/2025 Q3/2026 0.9 -0.6 -0,6 -0,2 0,2 0,6 1,0 1-9/2025 1-9/2026 Spain’s comparable EBITDA development (continuing operations) • The development of comparable EBITDA was slowed by integration costs and an increase in fixed software-related costs following the demerger. • We will systematically continue the implementation of the ONE Talenom concept and estimate that it will also support profitability development in the future. Comparable EBITDA Q3 (EUR million)Comparable EBITDA January- September (EUR million) -168.0% 6.7% 5.2%4.6% -3.6% +39.2% Comparable EBITDA excl. non-recurring impairment of EUR 1.2 million in the Q2/2026
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Outlook and guidance
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Guidance unchanged (published 16 December 2025) • Net sales around EUR 110–120 million • Comparable EBITDA around EUR 18–22 million Background for the guidance Talenom expects demand in the accounting services market to remain stable in all of the Company’s operating countries in 2026. Net sales growth is estimated to be mainly organic. The acquisitions made during 2025 will support the net sales growth. Talenom estimates the profitability to improve, especially in Sweden and Spain due to the integrated One Talenom business models. EBITDA in Sweden is estimated to be positive and Spain to continue strong profitable growth in 2026. Items affecting comparability may include non- recurring costs and expenses relating to the Demerger. Outlook and guidance 2026 (continuing operations)
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Q&A
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Juho Ahosola, CEO juho.ahosola@talenom.fi +358 50 525 6043 Matti Säkkinen, CFO matti.sakkinen@talenom.fi +358 41 433 8544 Thank you!