F-Secure (FSC1V) Investor presentation summary

Market challenges and opportunities

• Global scams affected over 2 billion people in 2024, with $1 trillion lost worldwide.

• 80% of people fear scams, and 85% encountered one in 2024.

• Security complexity is a major barrier, with 69% of consumers finding it too complex.

• Only about 10% of consumers activate partner security services.

• Focusing on embedded, AI-powered scam protection to address these issues.

Business model and partnerships

• Operates a partner-first, end-to-end optimized model for each segment.

• No channel conflicts, enabling partners to fully own the customer relationship.

• Trusted by major global service providers, including SoftBank, AT&T, Vodafone, and Allianz.

• Embedded and Total offerings turn security from a value-added service to a core service.

• 26 partners agreed to introduce Scam Protection in their Total offering by end of 2024.

Financial performance

• FY2024 revenue grew 12.2% to EUR 146.3 million; organic growth was 1.8%.

• Adjusted EBITA increased 23.1% to EUR 52.2 million.

• Partner channel contributed 81% of revenue, with direct channel at 19%.

• Proposed dividend of EUR 0.04 per share, representing 33% of 2024 earnings.

• Distributable funds at year-end were EUR 13.7 million.