Slides
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Financial Results for Q3 2026 And Business Update 27th October 2026
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3 Q3 2026 – Highlights • Growth of operating profit by 77% versus prior year and by 4% one-off adjusted • Continues good cost control • Payments as the key growth engineafter slower H1 – EBIT growth by 3.2mE (one-off adjusted) • Another good quarter, but flattishYoY Banking Solutions • Dedicated Solutions declining due to missing projects mostly in B&H (utilities and roads) • YoY operating cash flow and cash conversion improved • Q3 transactions: 468m (-16%) eCommerce transactions, 199m (+47%) IPD transactions, 173m (+11%) processing of physical card transactions
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4 Q3 2026 results
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Q3’26 – Solid performance 5 Acquisitions effect – Rev: 0.2 | EBIT: 0.1 | EBITDA: 0.1 | NPAT: 0.1 No hyper. – excluding hyperinflation accounting. Total loss on disposal of shares in Mobven treated as no hyper mEUR mPLN Q3 2026 Q3 2025 Q3 2026 no hyper. Q3 2025 no hyper. % Diff Q3 2026 Q3 2025 Q3 2026 no hyper. Q3 2025 no hyper. % Diff Revenue 109.8 102.5 108.7 101.5 +7% 475.8 437.2 470.7 433.0 +9% EBITDA 25.4 19.0 25.1 18.7 +34% 110.0 80.9 108.8 79.8 +36% EBIT 19.1 10.8 19.0 10.8 +77% 82.3 46.3 82.1 46.0 +79% NPAT 14.4 8.7 13.7 7.9 +74% 62.2 37.3 59.0 33.6 +76% EBITDA % 23.2% 18.5% 23.1% 18.4% 23.1% 18.5% 23.1% 18.4% EBIT % 17.3% 10.6% 17.5% 10.6% 17.3% 10.6% 17.4% 10.6% EBIT non-IFRS 19.8 13.6 19.8 13.6 +45% 85.6 58.1 85.6 58.1 +47% NPAT non-IFRS 14.3 9.5 14.3 9.5 +51% 62.0 40.4 62.0 40.4 +53%
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Q3’26 – Excluding PY impact of one-offs 6 Acquisitions effect – Rev: 0.2 | EBIT: 0.1 | EBITDA: 0.1 | NPAT: 0.1 No hyper. – excluding hyperinflation accounting. Total loss on disposal of shares in Mobven treated as no hyper. Adjusted Reported Q3 2026 Q3 2025 Q3 2026 no hyper. Q3 2025 no hyper. % Diff Q3 2025 no hyper. Revenue reversal Assets write-off and provisions PPA write-off Goodwill write-off and earnout Total One-Offs Revenue 109.8 102.5 108.7 105.5 +3% 101.5 4.1 0.0 0.0 0.0 4.1 EBITDA 25.4 19.0 25.1 24.4 +3% 18.7 4.1 1.7 0.0 0.0 5.7 EBIT 19.1 10.8 19.0 18.3 +4% 10.8 4.1 1.7 1.8 0.0 7.5 NPAT 14.4 8.7 13.7 12.5 +9% 7.9 4.1 3.1 1.3 -3.9 4.6 EBITDA % 23% 19% 23% 23% 18% 0% 0% 0% 0% 0% EBIT % 17% 11% 17% 17% 11% 0% 0% 0% 0% 0% EBIT non-IFRS 19.8 13.6 19.8 19.3 +2% 13.6 4.1 1.7 0.0 0.0 5.7 NPAT non-IFRS 14.3 9.5 14.3 16.6 -14% 9.5 4.1 3.1 0.0 0.0 7.2 Reported One-offs
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Q3’26 – Excluding PY impact of one-offs 7 mEUR Q3 2026 Q3 2025 Adj. Diff Q3 2026 Q3 2025 Adj. Diff Q3 2026 Q3 2 025 Adj. Diff 52 52 0 9 11 -2 7 9 -2 Payment Solutions 56.3 53.2 +3.1 15.9 13.3 +2.6 11.9 9.2 +2.7 Non-Payment 52.3 52.3 -0.0 9.2 11.4 -2.2 7.1 9.1 -2.0 Banking Solutions 21.2 19.8 +1.4 6.5 6.0 +0.5 5.7 5.3 +0.4 Dedicated Solutions 31.1 32.5 -1.4 2.7 5.4 -2.7 1.4 3.8 -2.4 GASEE 108.7 105.5 +3.1 25.1 24.7 +0.4 19.0 18.3 +0.7 Revenue EBITDA EBIT Payment Solutions 52% (50%)Banking Solutions 19% (19%) Dedicated Solutions 29% (31%) Revenue per BUs Q3 2026 27% 21% 4% 27% 17% 12% BA N K I N G S O L U TIO NS P A Y M E N T S O L U TI ONS DE DI C A TE D S O L U TI O NS Profitability per BU Q3 2026 Q3 2025 Adj.
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Q3’26 – Payment performance improved 8 mEUR Q3 2026 Q3 2025 Diff Q3 2026 Q3 2025 Diff Q3 2026 Q3 2025 Diff 52 52 0 9 11 -2 7 9 -2 Payment Solutions 56.3 49.1 +7.2 15.9 7.6 +8.3 11.9 1.7 +10.2 Non-Payment 52.3 52.3 -0.0 9.2 11.1 -1.9 7.1 9.1 -2.0 Banking Solutions 21.2 19.8 +1.4 6.5 6.0 +0.5 5.7 5.3 +0.4 Dedicated Solutions 31.1 32.5 -1.4 2.7 5.1 -2.4 1.4 3.8 -2.4 GASEE 108.7 101.5 +7.2 25.1 18.7 +6.4 19.0 10.8 +8.2 Revenue EBITDA EBIT Payment Solutions 52% (48%)Banking Solutions 19% (19%) Dedicated Solutions 29% (32%) Revenue per BUs Q3 2026 27% 21% 4% 27% 3% 12% BA N K I N G S O L U TIO NS P A Y M E N T S O L U TI ONS DE DI C A TE D S O L U TI O NS Profitability per BU Q3 2026 Q3 2025
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9 POS 55% (52%) eCommerce 13% (13%) Processing 3% (4%) ** Q3’26 – Payment by business lines mEUR Q3 2026 Q3 2025 Diff ECR + IPD 8.1 6.8 +1.2 eComm. + Proc. 15.3 11.0 +4.3 ATM (incl. IAD) 12.7 11.0 +1.7 POS 20.3 20.3 -0.0 Payment 56.3 49.1 +7.2 Revenue ECR + IPD 18% (88%) eComm. + Proc. 36% (-262%) ATM (incl. IAD) 23% (123%) POS 24% (152%) EBIT per BUs Q3 2026
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Q3’26 – Contributions by countries 10* Other entities include: Albania, Bulgaria, Kosovo, Montenegro, Slovenia mEUR Q3 2026 Q3 2025 Diff % Diff Q3 2026 Q3 2025 Diff % Diff SEE 71.8 66.4 +5.5 +8% 15.4 15.5 -0.1 -1% B&H 8.8 13.8 -5.0 -36% 1.6 5.0 -3.4 -68% Croatia 17.6 16.0 +1.6 +10% 4.2 3.5 +0.7 +21% Macedonia 5.8 4.8 +1.0 +21% 1.7 1.3 +0.5 +37% Serbia 29.4 24.0 +5.4 +23% 5.2 3.6 +1.6 +45% Other* 10.3 7.8 +2.4 +31% 2.6 2.1 +0.5 +23% CEE 16.7 15.9 +0.8 +5% 2.3 1.1 +1.1 +101% WE 12.5 12.8 -0.2 -2% 1.4 1.5 -0.1 -8% TURKEY 10.0 10.2 -0.2 -2% 1.1 1.9 -0.8 -40% LATAM 2.5 2.6 -0.1 -5% 0.3 0.3 +0.0 +9% MEA&I 0.4 -3.7 +4.1 -0.3 -6.7 +6.3 Adj. PPA 0.0 0.0 +0.0 -0.8 -2.8 +2.1 Adj. IC eliminations -5.4 -2.7 -2.7 -0.4 0.0 -0.3 GASEE 108.7 101.5 +7.2 +7% 19.0 10.8 +8.2 +77% Revenue EBIT
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11 Q3YTD 2026 results
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Q3YTD’26 – Solid performance 12 Acquisitions effect – Rev: 1.1 | EBIT: 0.2 | EBITDA: 0.4 | NPAT: 0.2 No hyper. – excluding hyperinflation accounting. Total loss on disposal of shares in Mobven treated as no hyper mEUR mPLN Q1-3 2026 Q1-3 2025 Q1-3 2026 no hyper. Q1-3 2025 no hyper. % Diff Q1-3 2026 Q1-3 2025 Q1-3 2026 no hyper. Q1-3 2025 no hyper. % Diff Revenue 314.6 298.3 311.7 297.9 +5% 1 346.4 1 263.9 1 334.0 1 262.0 +6% EBITDA 68.4 55.2 67.8 55.1 +23% 292.8 234.0 290.1 233.5 +24% EBIT 47.9 34.4 48.0 34.8 +38% 205.2 145.7 205.3 147.2 +39% NPAT 35.6 27.5 32.1 25.0 +29% 152.4 116.7 137.4 105.8 +30% EBITDA % 21.7% 18.5% 21.7% 18.5% 21.7% 18.5% 21.7% 18.5% EBIT % 15.2% 11.5% 15.4% 11.7% 15.2% 11.5% 15.4% 11.7% EBIT non-IFRS 51.9 40.3 51.9 40.3 +29% 222.2 170.7 222.2 170.7 +30% NPAT non-IFRS 35.3 28.9 35.3 28.9 +22% 151.2 122.5 151.2 122.5 +23%
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Q3YTD’26 – Payment and Banking growth 13 mEUR Q1-3 2026 Q1-3 2025 Diff Q1-3 2026 Q1-3 2025 Diff Q1-3 2026 Q1-3 2025 Diff 153 141 12 28 24 4 21 18 4 Payment Solutions 159.1 157.1 +2.0 40.2 31.1 +9.1 26.6 17.0 +9.6 Non-Payment 152.5 140.8 +11.8 27.6 24.1 +3.5 21.3 17.7 +3.6 Banking Solutions 64.5 56.8 +7.7 21.7 15.7 +6.1 19.5 13.5 +6.0 Dedicated Solutions 88.0 84.0 +4.0 5.8 8.4 -2.6 1.8 4.2 -2.3 GASEE 311.7 297.9 +13.8 67.8 55.1 +12.7 48.0 34.8 +13.2 Revenue EBITDA EBIT Payment Solutions 51% (53%)Banking Solutions 21% (19%) Dedicated Solutions 28% (28%) Revenue per BUs Q1-3 2026 30% 17% 2% 24% 11% 5% BA N K I N G S O L U TIO NS P A Y M E N T S O L U TI ONS DE DI C A TE D S O L U TI O NS Profitability per BU Q1-3 2026 Q1-3 2025
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14 POS 55% (52%) eCommerce 13% (13%) Processing 3% (4%) ** Q3YTD’26 – Payment by business lines mEUR Q1-3 2026 Q1-3 2025 Diff ECR + IPD 21.5 17.5 +4.0 eComm. + Proc. 44.9 43.0 +1.8 ATM (incl. IAD) 35.4 37.1 -1.8 POS 57.4 59.4 -2.0 Payment 159.1 157.1 +2.0 Revenue ECR + IPD 18% (18%) eComm. + Proc. 37% (17%) ATM (incl. IAD) 17% (25%) POS 28% (40%) EBIT per BUs Q1-3 2026
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Q3YTD’26 – Contributions by countries 15* Other entities include: Albania, Bulgaria, Kosovo, Montenegro, Slovenia mEUR Q1-3 2026 Q1-3 2025 Diff % Diff Q1-3 2026 Q1-3 2025 Diff % Diff SEE 201.7 186.0 +15.7 +8% 38.5 33.1 +5.3 +16% B&H 25.2 31.1 -5.9 -19% 4.4 8.5 -4.1 -48% Croatia 51.4 47.1 +4.3 +9% 11.1 7.9 +3.2 +41% Macedonia 17.1 13.6 +3.5 +26% 4.5 2.6 +1.9 +72% Serbia 83.2 71.6 +11.6 +16% 13.7 10.0 +3.7 +37% Other* 24.7 22.6 +2.1 +9% 4.7 4.1 +0.6 +14% CEE 46.0 42.9 +3.1 +7% 4.7 2.6 +2.1 +79% WE 34.4 38.5 -4.1 -11% 3.4 3.8 -0.4 -11% TURKEY 31.0 31.2 -0.2 -1% 6.4 6.3 +0.1 +1% LATAM 7.8 7.1 +0.7 +9% 0.7 0.8 -0.1 -12% MEA&I 1.4 0.8 +0.5 +65% -1.4 -6.1 +4.7 Adj. PPA 0.0 0.0 +0.0 -3.9 -5.5 +1.6 Adj. IC eliminations -10.5 -8.6 -1.9 -0.4 -0.3 -0.1 GASEE 311.7 297.9 +13.8 +5% 48.0 34.8 +13.2 +38% Revenue EBIT
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16 Cashflow and liquidity
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Cashflow * EBITDA, EBIT excluding hyperinflation impact mEUR Q3 2026 LTM 2025 2024 2026 Q3 YTD 2025 Q3 YTD Operating cash flow 97.3 74.7 47.4 61.4 38.9 - Infrastructure for outsourcing & own networks -10.2 -13 .2 -13.6 -7.3 -10.3 - Capitalized R&D 0.0 0.0 0.0 0.0 0.0 - M&A -19.2 -11.5 -21.1 -13.4 -5.8 - Other CAPEX -4.3 -5.4 -7.6 -3.2 -4.2 - Dividends for minority shareholders -6.6 -1.6 -2.6 -6.4 -1.5 Free Cash Flow 57.1 43.0 2.5 31.1 17.1 Debt Increase 8.6 7.9 25.7 7.7 6.9 Debt Service -17.0 -19.2 -21.1 -11.1 -13.4 Total Cash Flow 48.7 31.7 7.1 27.7 10.7 Oper CF/EBITDA* 95% 83% 64% 91% 71% Adjusted Oper CF/EBITDA* 95% 83% 74% 91% 71% FCF/EBIT* 73% 66% 5% 65% 49%
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Liquidity situation Key M&A liabilities – NCI Put Options: - Dwelt B&H: 7.5 - BSTS B&H: 2.5 - Sycket Esp: 1.1 mEUR 30 Sep'26 31 Dec'25 Diff 30 Sep'25 Cash and equivalents 70.1 73.8 -3.7 53.2 Loans (ST) -7.9 -15.5 +7.6 -17.7 Lease (ST) -5.5 -5.3 -0.2 -5.0 Dividends (ST) 0.0 -0.9 +0.8 -0.9 M&A liabilities (ST) -11.7 -26.8 +15.1 -29.7 Net Cash (ST) 45.0 25.3 +19.7 -0.1 Loans (LT) -23.1 -20.7 -2.3 -21.7 Lease (LT) -8.8 -10.7 +1.9 -11.7 Net Cash (ST) + Loans (LT) + Lease (LT) 13.1 -6.1 +19.2 -33. 6 Receivables and Prepayments (ST) 132.5 131.4 +1.1 116.3 PoC valuation assets/liab. 10.0 7.4 +2.6 14.4 Liabilities, Provisions and Deferred Income (ST) -134.6 -1 25.8 -8.8 -109.9 Inventory 18.3 16.2 +2.0 16.7 Net Operating Assets 71.1 54.5 +16.6 37.3
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19 Outlook for 2026
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ASEE + Payten 20 mEUR Q4 2026F Q4 2025 % Diff Revenues BL 95.0 101.9 -7% Margin1 BL 75.8 77.8 -3% 75.8 77.8 0 10 20 30 40 50 60 70 80 90 Q4 2026F Q4 2025 -3% mEUR 2026F 2025F % Diff Revenues BL 404.2 395.0 +2% Margin1 BL 313.8 302.3 +4% 313.8 302.3 0 50 100 150 200 250 300 350 2026F 2025F +4% * backlog data from October 2026 and October2025 respectively backlog data excluding hyperinflation effect and India and Dubai operations Q4 Impact big project in 2025: 6.4m (B&H), 0.7m (Alb)
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ASEE – Banking and Dedicated Solutions 21 mEUR Q4 2026F Q4 2025 % Diff Revenues BL 54.0 61.3 -12% Margin1 BL 35.9 41.1 -13% 35.9 41.1 0 5 10 15 20 25 30 35 40 45 Q4 2026F Q4 2025 -13% mEUR 2026F 2025F % Diff Revenues BL 212.2 202.1 +5% Margin1 BL 143.5 145.6 -1% 143.5 145.6 0 20 40 60 80 100 120 140 160 2026F 2025F -1% * backlog data from October 2026 and October2025 respectively backlog data excluding hyperinflation effect and India and Dubai operations Q4 Impact big project in 2025: 6.4m (B&H), 0.7m (Alb)
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Payten 22 mEUR Q4 2026F Q4 2025 % Diff Revenues BL 43.7 40.6 +8% Margin1 BL 40.2 36.8 +9% 40.2 36.8 0 5 10 15 20 25 30 35 40 45 Q4 2026F Q4 2025 +9% mEUR 2026F 2025F % Diff Revenues BL 199.8 193.0 +4% Margin1 BL 171.1 156.7 +9% 171.1 156.7 0 20 40 60 80 100 120 140 160 180 2026F 2025F +9% * backlog data from October 2026 and October2025 respectively backlog data excluding hyperinflation effect and India and Dubai operations
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