Slides
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Q3 2025Results Presentation 24 October 2025
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The world’s largest survey exchange B2B customers in 70+ countries … … 290+ million respondents across 130+ countries Automated matching based on deep profiling data … get real-time programmatic connection … to answers from Net Sales by region Q3 20251998 Cint founded 700 Employees FTE 4,000 customers2021 Lucid acquired 166 EURm Net Sales in 2024 2 Automated matching based on deep profiling data Americas EMEA APAC66% 27% 7%
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Q3 2025 figures in brief Net sales EUR 33.7m EUR 42.4m) Gross profit EUR 29.3m 86.9% margin 88.0% OPEX EUR 23.0m EUR 25.6m) EBITA EUR 6.3m 18.7% margin 27.5 3
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Q3 2025 Business review 4 ● Sales affected by the migration in Cint Exchange, a weak business climate and strong comparables in Media Measurement ● Strong operating cash flow, mostly driven by receivables ● Strong balance sheet with net debt position of EUR 9.2m A quarter affected by customer migration
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Consolidation Platform consolidation and migration 5 ● Migration of our largest customers affected revenues, a low point of our migration ● Nearly all Legacy Cint customers now have access to the new Cint Exchange ● Focus is now on the transfer of revenue successively during the coming quarters ● Some Legacy Lucid customers will start their upgrade to the new platform in Q4 2025 with the main transfer starting in the first quarter 2026 Testimonials “Being an ad sales research and insights team, weʼre always looking for the best story. The challenges that Cint helps us solve in that context specifically is that wealth of data thatʼs now available to us within the platform itself, where weʼre able to see different cuts of data by demographic, frequency or creative. Thereʼs been so many gains for us, particularly with the self-service function. Thatʼs been a huge unlock for us over the last six months or soˮRyan Gillis, Associate Director of Research and Insights at Tripadvisor“Iʼm delighted that we were able to select Cint as our global partner. We selected Cint for their global coverage, a shared vision in technology with a great roadmap for improvements, but also the commitment to quality.ˮJames Turner, Founder and CEO of Delineate
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Q3 2025 Investment in innovation 6 ● Launched the beta of Luci, our new AI Study Companion designed to increase the accessibility of our brand lift data and empower customers to analyze media campaign performance by asking natural language questions ● We have entered a data partnership with Affinity Solutions for both our Measurement and Exchange customers. For Media Measurement clients, it unlocks the ability to connect survey data with transactional data from over 150 million US cardholders Focus shifting to innovation and product development
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cint.com Financial update
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Financial targets Sales growth Profitability Leverage Sustainability Cint aims to achieve a medium term annual organic sales growth of 10% Cint aims to achieve a medium term EBITA margin of 25% Target net debt / EBITDA below 2.5x This ratio may temporarily be exceeded, for example as a result of acquisitions) Cint aims to achieve net-zero greenhouse gas GHG) emissions across its operations by 2045, aligning with Swedenʼs national climate targets and global best practices 8 Dividend policy Cint aims to reinvest cash flows into growth initiatives and as such will not pay annual dividends in the short-term
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Q3 2025 financials 9 ● Total net sales declined by 20.4% to EUR 33.7m 42.4, or 16.2% in constant currency ● Sales affected by the migration in Cint Exchange, a weak business climate and strong comparables in Media Measurement ● Gross profit in the quarter amounted to EUR 29.3m 37.3 due to lower sales ● Gross margin was 86.9% 88.0) as a result of lower sales ● EBITA amounted to EUR 6.3m 11.7) and EBITA margin to 18.7% 27.5, as a result of lower sales, partly mitigated by lower operating expenses ● EBITA last year benefited from a EUR 2.0m one-off cost adjustment related to LTIP Net sales EURm EBITA & margin EURm, %Gross profit & margin EURm, %
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Net sales development 10 Business segments EURm Regions EURm ● Net sales in the Americas region decreased by 20.4% to EUR 22.3m 28.0) or 15.9% on a constant currency basis, as a result of weaker sales in the CE business and stable sales in Media Measurement ● Net sales in EMEA decreased by 21.9% to EUR 9.0m 11.6 in the quarter and by 19.3% on a constant currency basis as a result of weaker sales in Cint Exchange and Media Measurement● Net sales in APAC decreased by 14.6% to EUR 2.4m 2.8 in the quarter and by 5.4% as a result of weaker sales in Cint Exchange partly offset by higher sales in Media M. ● Cint Exchange net sales decreased by 27.2 23.7% in constant currency), mainly impacted by the customer migration as well as the market environment ● Media Measurement net sales decreased by 6.3 percent 0.4 percent in constant currency). Besides general market headwinds, this also reflects the strong prior-year comparable. This related to a surge in ad spending last year as campaigns were front-loaded to preempt the US elections
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Cost control softening impact of sales decline 11 Key comments ● Total net sales declined by 20.4% to EUR 33.7m 42.4 and by 16.2% on a constant currency basis ● Lower gross margins at 86.9% 88.0, reflecting lower sales ● Lower operating expenses of EUR 23.0m compared to last yearʼs 25.6m, driven by cost reduction programs, despite EUR 2.0m one-off positive effect related to LTIP in prior year ● EBITA in the quarter amounted to EUR 6.3m compared to EUR 11.7m last year. The EBITA margin amounted to 18.7% 27.5%. ● The revaluation of balance sheet items had a negative impact on the result of EUR 0.3m 0.8, which is captured under Other operating expenses ● Items affecting comparability was 0.0 1.3) during the quarter and EUR 0.5 8.7) in the nine-month period
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Low net debt as a result of improved cash flow 12 Key comments ● Net cash flow improved by EUR 6.3m year-on-year, mainly driven by cash flow from operating activities improved by EUR 8.2m to EUR 9.9m. ● Changes in working capital EUR 9.9m) vastly outweighed lower operating cash flow EUR 1.6m)● Cash flow from investing activities is attributed to capitalized development costs for the platform, investments in new features and functions to support future growth● Cash flow from financing activities mainly relate to loan repayments of EUR 4.3m in the quarter ● Cash position amounted to EUR 50.4m and net debt was at EUR 9.2m, compared to EUR 83.7m at year-end, before the rights issue in Q1 this year● Net debt / EBITDA at the end of the quarter was 0.2x, well below our target of 2.5x
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Reduction of receivables, partly offset by current liabilities 13 ● Lower net working capital of EUR 44.1m EUR 1.4m) at the end of the period ● Working capital decreased despite lower other current liabilities, as receivables improved by EUR 7.5m ● The continued reduction of receivables stems from the structural operational enhancements reported previously, including (i) legal entity rationalization, (ii) ERP system consolidation, (iii) unified billing information CRM) system, and (iv) reinforced billing and collections capabilities ● Our emphasis remains on improving working capital, with a particular focus on accounts receivable Key comments
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cint.com Thank you