Kreate Group (KREATE) Corporate presentation summary

Third-quarter performance

• Q3 revenue €209.5m vs €94.7m YoY; EBITA €12.9m vs €4.0m and EBITA margin 6.2% vs 4.2%.

• 9M revenue €492.5m vs €220.7m; EBITA €23.7m vs €6.3m and margin 4.8% vs 2.8%.

• Q3 operating free cash flow €29.4m vs €0.5m; 9M €26.2m vs €15.8m. September net working capital was -€18.3m.

• Q3 EBITA exceeded full-year 2025 EBITA; profitability improved YoY for a fifth consecutive quarter.

Guidance and backlog

• FY26 guidance: revenue €670–710m and EBITA €32–36m; the guidance was raised for a third time.

• Q3 backlog €848.5m vs €242.4m a year earlier; about €650m is for future years, with €195m expected to be realized in FY26.

• Q3 backlog additions totaled €110m, mainly confidential or unpriced projects; examples include the Government Palace works and QTS Forssa data center earthworks.

• September net debt was €27.6m vs €20.2m a year earlier, but fell QoQ; net debt/EBITDA was 0.7 vs 1.2.

Growth drivers and projects

• Operations are concentrated in Finland, which represents about 90% of revenue, with Sweden contributing 10%.

• Growth drivers include transport infrastructure, critical infrastructure, industrial investment, urbanization and the clean transition.

• Data center projects contributed to revenue at Kreate Oy and KFS; work spanned 11 campuses during 2026, with Finnish related infrastructure work estimated at nearly €1bn annually through 2030.

• Major projects include Tampere rail yard (~€200m; 2025–2031), Vantaa tram eastern section (~€125m; 2025–2029) and Junatie metro bridge (~€60m; 2026–2028).