Netcompany Group (NETC) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with thanks to shareholders and introduction of board and executive management representatives.

• Legal and procedural compliance confirmed, with 62.25% of voting share capital represented and quorum established.

• Material impact from the Go-To-Market strategy was observed in 2024, with a 50.3% share price increase and nearly 29,000 registered shareholders by year-end.

• The agenda included reports on activities, approval of the annual report, profit distribution, remuneration, board elections, auditor appointment, treasury share proposals, and other business.

• Agenda followed Articles of Association, with initial items grouped for efficiency.

Financial performance review

• Revenue grew by 7.6% to DKK 6,540.6m in reported currencies, with gross profit up 11.9% and net profit after tax rising 53.8% to DKK 467.5m.

• Adjusted EBITDA margin improved to 17.7% at group level, with adjusted EBITA up 27.7% to DKK 909.9m and best-ever free cash flow of DKK 821.1m.

• Revenue growth was strongest in the Netherlands (34.4%) and Intrasoft (10.4%), while the UK saw an 8.7% decline.

• Share price increased by over 50% in 2024; DKK 800 million share buybacks initiated.

• 2025 outlook: revenue growth expected between 5% and 10%, adjusted EBITDA margin between 16% and 19%, with UK expectations tempered due to public sector standstill.

Board and executive committee updates

• New leadership team established to support growth as an integrated European IT service company.

• Annual board evaluation conducted with external advisors, confirming effective, diverse, and efficient board functioning with strong cooperation with executive management.

• 100% attendance at board and committee meetings; all board members were independent and gender distribution was equal.

• All incumbent board members stood for and were re-elected for a one-year term; proposal to re-elect Bo Rygaard, Juha Christensen, Åsa Riisberg, Susan Cooklin, and Bart Walterus.