Slides
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Q u a r t e r l y R e p o r t Q 4 E x s i t e c H o l d i n g A B
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Head of M&AGroup CEOCFO H a m p u s S t r a n d q v i s t N i k l a s E k C a r l A r n e s s o n Presenting today h a m p u s . s t r a n d q v i s t @ e x s i t e c . s e n i k l a s . e k @ e x s i t e c . s e c a r l . a r n e s s o n @ e x s i t e c . s e
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Q u a r t e r l y R e p o r t 2 0 2 5 Q 4 O u r b u s i n e s s F i n a n c i a l s Q 4 P r i o r i t i e s Q u e s t i o n s ? 1 . 2 . 3 . 4 .
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R e s e l l e r o f a s e l e c t i o n o f a p p r o x i m a t e l y 2 0 s o f t w a r e ( S a a S ) c o m p o n e n t s f o r d i f f e r e n t b u s i n e s s u s e c a s e s , w i t h i n - h o u s e d e v e l o p e d i n t e g r a t i o n s . S i n g l e p o i n t o f c o n t a c t f o r t h e c u s t o m e r - s o f t w a r e s a l e s , i m p l e m e n t a t i o n s e r v i c e s a n d l o n g t e r m s u p p o r t . T a r g e t s m e d i u m s i z e d b u s i n e s s s t a r t i n g a t 5 0 M S E K r e v e n u e i n t h e n o r d i c s . C u r r e n t c u s t o m e r b a s e o f 5 5 0 0 . N o u p p e r l i m i t o n w h o w e c a n s e r v e . Software reseller Support & services Diverse target market Our commitment is to provide businesses in the Nordics with smart IT solutions that simplify today - and create success for tomorrow.
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O u r p a r t n e r s
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Resellers of selected software components In-house developed integrations O u r t h r e e r e v e n u e s t r e a m s Software & i n f r a s t r u c t u r e SupportServices 2 5 % 6 3 % 1 2 % Configurations and custom development Training and advisory consulting
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R e v e n u e E B I T A 5 6 - 5 7 7 - 4 9 5 1 3 1 3 8 2 2 1 4 1 2 5 1 7 3 3 0 2 1 7 3 4 2 4 6 5 3 4 6 0 5 6 6 5 7 9 2 7 5 1 1 3 3 8 1 1 1 2 1 8 9 5 1 5 8 600+ employees in Sweden, Norway, Denmark and Finland. Continously growing.
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One of the largest trainee programs in the Nordics
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Q u a r t e r l y R e p o r t 2 0 2 5 Q 4 O u r b u s i n e s s Financials Q4 P r i o r i t i e s Q u e s t i o n s ? 1 . 2 . 3 . 4 .
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4 3 M S E K 1 8 % m a r g i n +2% L T M 2 2 5 M S E K + 2 2 % S t r o n g e a r n i n g s i m p r o v e m e n t S t r o n g g r o w t h i n r e c u r r i n g r e v e n u e f r o m s o f t w a r e F o c u s o n c o r e b u s i n e s s O r g a n i c g r o w t h E x s i t e c i n Q 4
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D i v e s t m e n t o f I n f r a s t r u c t u r e b u s i n e s s Focus on core business Exsitec - Zedcom - Infracom Press releases Exsitec Holding AB (publ): Exsitec AB divests IT and operations business Zedcom AB Exsitec AB has today entered into an agreement to divest its subsidiary Zedcom AB to the IT and operations specialist InfraCom Group AB. The transaction is part of Exsitec’s strategy to streamline its operations with a focus on digitalization and business support. Transaction summary Exsitec is selling Zedcom AB, a business specializing in IT operations. The company generates approximately SEK 30 million in revenue and has a margin of around 15 percent. The divestment is part of Exsitec’s efforts to focus the Group’s resources on its core business. The transaction does not include the Visma Net operations, which since the acquisition of Zedcom Holding in October 2021 have been integrated with Exsitec’s corresponding operations. Purchase price and terms The total purchase price amounts to SEK 31.9 million, of which SEK 26.4 million will be paid on the closing date and SEK 5.5 million constitutes a conditional earn-out linked to the business’s recurring revenues during the measurement periods in 2026 and 2027. Timeline and regulatory approval The agreement was signed today, 19 December 2025. Closing is expected to take place in the first quarter of 2026, subject to review and approval by the ISP (Inspectorate of Strategic P d t )i d ithth S di hA t(2023560) th S i fF i Di t Purchase price and terms Exsitec is selling Zedcom AB, a business specializing in IT operations. The company generates approximately SEK 30 million in revenue and has a margin of around 15 percent. The divestment is part of Exsitec’s efforts to focus the Group’s resources on its core business. The transaction does not include the Visma Net operations, which since the acquisition of Zedcom Holding in October 2021 have been integrated with Exsitec’s corresponding operations. Purchase price and terms The total purchase price amounts to SEK 31.9 million, of which SEK 26.4 million will be paid on the closing date and SEK 5.5 million constitutes a conditional earn-out linked to the business’s recurring revenues during the measurement periods in 2026 and 2027.
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A d j u s t e d N e t S a l e s ( M S E K ) 2 0 2 1 Q 4 2 0 2 2 Q 4 2 0 2 3 Q 4 2 0 2 4 Q 4 2 0 2 5 Q 4 0 5 0 1 0 0 1 5 0 2 0 0 2 5 0 1 5 8 1 8 8 2 1 1 2 2 7 2 3 9 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 0 2 0 0 4 0 0 6 0 0 8 0 0 1 0 0 0 4 6 0 6 5 7 7 5 1 8 1 1 8 9 5 Q4 2021-2025 Year over Year +6% +10%
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A d j u s t e d E B I T A ( M S E K ) 2 0 2 1 Q 4 2 0 2 2 Q 4 2 0 2 3 Q 4 2 0 2 4 Q 4 2 0 2 5 Q 4 0 1 0 2 0 3 0 4 0 5 0 2 5 2 8 4 5 3 0 4 3 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5 0 5 0 1 0 0 1 5 0 2 0 0 7 7 9 2 1 3 3 1 2 1 1 5 8 Q4 Year over Year Q4 Year over Year +42% +31%
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Q 1 - 2 1 Q 2 - 2 1 Q 3 - 2 1 Q 4 - 2 1 Q 1 - 2 2 Q 2 - 2 2 Q 3 - 2 2 Q 4 - 2 2 Q 1 - 2 3 Q 2 - 2 3 Q 3 - 2 3 Q 4 - 2 3 Q 1 - 2 4 Q 2 - 2 4 Q 3 - 2 4 Q 4 - 2 4 Q 1 - 2 5 Q 2 - 2 5 Q 3 - 2 5 Q 4 - 2 5 0 5 0 1 0 0 1 5 0 2 0 0 2 5 0 3 8 4 2 5 6 7 6 8 6 1 0 3 1 0 6 1 1 2 1 1 9 1 2 6 1 3 1 1 4 0 1 5 0 1 6 2 1 7 3 1 8 4 1 9 8 2 0 7 2 1 7 2 2 5 R e c u r r i n g n e t r e v e n u e f r o m s o f t w a r e L T M ( M S E K ) + 2 2 % Y o Y
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Q 1- 2 4 Q 2 - 2 4 Q 3 - 2 4 Q 4 - 2 4 Q 1- 2 5 Q 2 - 2 5 Q 3 - 2 5 Q 4 - 2 5 0 5 0 10 0 15 0 2 0 0 14 4 14 4 10 7 15 4 16 0 16 1 12 3 16 5 Q 1- 2 4 Q 2 - 2 4 Q 3 - 2 4 Q 4 - 2 4 Q 1- 2 5 Q 2 - 2 5 Q 3 - 2 5 Q 4 - 2 5 0 10 2 0 3 0 4 0 5 0 6 0 5 4 5 4 4 4 5 2 5 3 4 8 4 6 5 5 Q 1- 2 4 Q 2 - 2 4 Q 3 - 2 4 Q 4 - 2 4 Q 1- 2 5 Q 2 - 2 5 Q 3 - 2 5 Q 4 - 2 5 0 5 10 15 2 0 2 5 3 0 14 14 13 19 2 7 2 0 2 0 2 3 Sweden Net sales LTM: 609 MSEK Adj. EBITA LTM: 117 MSEK Margin LTM: 19% Norway Net Sales LTM: 202 MSEK Adj. EBITA LTM: 28 MSEK Margin LTM: 14% Other Nordics Net Sales LTM: 90 MSEK Adj. EBITA LTM: 18 MSEK Margin LTM: 20% G r o w t h a n d E B I T A b y S e g m e n t 23% 27% 5% 17% 18% 24% 12% 21% 10% 5% 6% 9% 14% 11% 15% 15% 6% 5% 0% 6% 33% 16% 20% 9%
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Q u a r t e r l y R e p o r t 2 0 2 5 Q 4 O u r b u s i n e s s F i n a n c i a l s Q 4 P r i o r i t i e s Q u e s t i o n s ? 1 . 2 . 3 . 4 .
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Market conditions C a u t i o u s d e m a n d f o r c o n s u l t i n g s e r v i c e s S t r o n g o r d e r i n t a k e o n E x s i t e c o f f e r i n g P e n t - u p d e m a n d d u e t o d e l a y e d i n v e s t m e n t s I n c r e a s e d M & A a c t i v i t y
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Accelerate BNXT Scale Microsoft Increase Organic Growth B u s i n e s s P r i o r i t i e s 2 0 2 6
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Financial Goals for 2026 Exsitec's objective is to increase adjusted EBITA per share by at least 15% per year over time. Exsitec's objective is to increase net sales by at least 15% per year over time. Exsitec's objective is that net debt must not exceed 2 times EBITDA. Exsitec's objective is to distribute 20-40 percent of the profit after tax, taking into account the Company's financial position, capital structure and future growth opportunities. P e r f o r m a n c e t a r g e t G r o w t h g o a l s S t a b i l i t y m e a s u r e s D i v i d e n d p o l i c y
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Q u a r t e r l y R e p o r t 2 0 2 5 Q 4 O u r b u s i n e s s F i n a n c i a l s Q 4 P r i o r i t i e s Q u e s t i o n s ? 1 . 2 . 3 . 4 .