Slides
Page 1
H1 2025/26 revenue Videoconference | October 30, 2025
Page 2
© WAVESTONE | 2 Speakers Pascal Imbert CEO Karsten Höppner Deputy CEO Laurent Stoupy CFO
Page 3
© WAVESTONE | 3 Stable revenue for H1 2025/26 at €458.1m Revenue in €m unaudited data 2025/26 consolidated 2024/25 consolidated Total change Change at constant scope and forex basis1 Q1 231.5 232.4 0% -1% Q2 226.4 225.4 0% 0% H1 458.1 457.8 0% 0% • Revenue up +0.4% in Q2 2025/26 – almost stable revenue year-over-year on a constant scope and forex basis (-0.3%) – unfavorable working day impact of -1.1% • Revenue stable in H1 2025/26 – decreased revenue year-over-year on a constant scope and forex basis (-0.5%) – unfavorable working day impact of -0.9% © WAVESTONE | 3 1 excluding Wivoo, consolidated since June 1, 2025
Page 4
© WAVESTONE | 4 Consultant utilization rate under pressure at71%; solid average daily rate of €939 H1 2025/26 (6 months) 73%71% €939€939 4.2 months solid daily rates despite Wivoo’s lower prices +1% increase on a constant scope and forex basis 3.6 months vs. 3.7 months on September 30, 2024 Consultant utilization rate Average daily rate Order book 6,0766,042 including 98 coming from the acquisition of Wivoo slight decline during the summer, reflecting the usual seasonalityHeadcount 12%13% on a rolling 12-month basisTurn-over consultant utilization rate under pressure in H1 2025/26 FY 2024/25 (12 months)
Page 5
© WAVESTONE | 5 A challenging market environment over H1 2025/26 • Unfavorable economic environment – reluctance of decision-makers to move forward with their investment plans in the context of high geopolitical uncertainty • Sectoral trends – banking, retail and automative remain difficult – transport has been slowing down in H1 – luxury business momentum has seen recent improvement – insurance remains resilient, while energy and life sciences continue to show a positive trend • Demand building for AI consulting – first large-scale deployments have started with some major clients – intensified business development efforts in this area to position Wavestone as a key player in the field of AI-driven transformations • Sustained momentum in cybersecurity, cloud and SAP • Same challenging market conditions across all regions – except North America, where demand continues to be strong
Page 6
© WAVESTONE | 6 Outlook on H2 2025/26 • Improvement of business demand in Q3 2025/26 – significant utilization rate improvement in Q3 – however, visibility remains limited, and it is too early to assess continuation of this positive trend in Q4 • Keeping a moderate recruitment pace – leading to a very limited increase of headcount over the fiscal year
Page 7
© WAVESTONE | 7 Annual targets for 2025/26 Revenue Recurring operating margin 2024/25 943.7 M€ 12.6% © WAVESTONE | 7 2025/26 objectives Around 13%* Positive organic growth * instead of more than 13% initially targeted 2025/26 objectives expressed on a constant forex basis, excluding Wivoo and any new acquisitions
Page 8
© WAVESTONE | 8 H1 2025/26 revenue QUESTIONS & ANSWERS MICROSOFT TEAMS Unmute your microphone | Use 'Raise hand' button
Page 9
© WAVESTONE | 9 Financial agenda 2025/26 H1 results (after stock market closing) 2025/26 Annual revenue (after stock market closing) Feb 2, 2026 Apr 30, 2026 Dec 2, 2025 2025/26 Q3 revenue (after stock market closing)
Page 10
End page