Trifork Group (TRIFOR) Danske Bank Winter Seminar presentation summary

Strategic direction and business model

• Focus on pioneering innovation and early adoption of new technologies, serving both private and public sectors across 16 countries with 1,197 employees.

• Revenue split in 9M 2025: 67% from services and 33% from products; 59% from private and 41% from public clients.

• Core product areas include digital health, financial services, public sector, aviation, and energy, leveraging technologies like AI, spatial computing, and cloud.

• Emphasis on building a more product-driven, scalable, and commercially focused organization through accelerated product culture, sales execution, and industry divisions.

• Product strategy aims for value-based pricing, M&A with product exposure, and higher product margins by 2028-2030.

Financial performance and outlook

• 2025 guidance: revenue of EUR 217.5–222.5 million and group adj. EBITDA of EUR 30–32.5 million, including Trifork Labs costs.

• Financial targets for 2025: 10–15% total annual revenue growth, 5–10% organic revenue growth, and 7–9% EBIT margin.

• Continued disciplined M&A with net debt at 1.3x EBITDA and ongoing deleveraging expected.

• Product revenue and cost savings are expected to drive stronger performance ahead.

• 2025 is positioned as a recovery year with the product strategy increasingly visible in quarterly results.

Innovation and market trends

• Early mover in enterprise AI, spatial computing, and digital twin technologies, with ongoing product development such as aviation training solutions.

• Labs portfolio is growing, well-financed, and profitable, with exits likely in 2026 and a book value of EUR 84 million as of September 2025.

• Labs Top 10 companies showed 100% revenue growth and 18.1% EBITDA margin in 2024.

• Key market trends driving growth include sovereign data hosting, digital government, rising cybercrime, AI and XR adoption, and healthcare efficiency.

• Digitalization and innovation remain long-term growth drivers, supported by a full-circle business model and agile organization.