Slides
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Eezy Plc Financial Statements Bulletin Q4/2025 Chief Executive Officer Johan Westermarck
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EBITDA improved, determinedly towards profitable growth • The decline in EBIT in the final quarter was impacted mainly by non-recurring expenses€1.2 million (0.9). • The decline in the Group’s revenue in 2025 was primarily driven by transferring operations to franchise entrepreneurs in first quarter of the year, as well as the challenging market. • The measures implemented under the performance improvement programs were reflected in lower fixed costs, and the EBITDA improvement compared to the reference period that began in the third quarter continued. Eezy Q4/2025 in brief 10-12/2025 10-12/2024 1-12/2025 1-12/2024 Revenue 34.0 M€ (-19%) 41.9 M€ 139.3 M€ (-20%) 174.1 M€ Chain-wide revenue 58.2 M€ (-8%) 63.5 M€ 233.8 M€ (-9%) 257.4 M€ EBITDA 2.5 M€ 2.3 M€ 9.0 M€ 10.3 M€ EBITDA % 7.4% 5.5% 6.5% 5.9 % EBIT -0.2 M€ 0.1 M€ 0.2M€ 2.3 M€ EBIT % -0.7% 0,3% 0.1 % 1.3 % EPS -0.02€ -0.03€ -0.09€ -0.01€
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• The chain-wide revenue of Staffing services (Group + franchise entrepreneurs) decreased by 10% compared with Q4/2024, amounting to €42.8 million (€47.4 million) in October– December. • The Staffing services chain-wide revenue declined less in the second half of the year than in the first half. • In the capital area our performance was modestly better than the market and other areas. • Customer satisfaction remained on a good level, NPS 47. • We employed on average 1,902 (2,442) staffed employees (FTE) in 10-12/2025. • Market uncertainty continued in October-December. Demand for staffing services remained weak Staffing services Q4/2025 Staffing services 10-12/25 Staffing services 10-12/24 Staffing services 1-12/25 Staffing services 1-12/24 27.4M€ 34.3M€ 115.7M€ 145.5M€ (-20%) (-21%)
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Quarter of all shift orders are filled within one minute • The AI-assisted operations management system for Staffing Services owned by Eezy is in full use in daily resourcing for customers. • In December, 74% of all shift orders were entered directly into the system by customers. • Our AI-assisted 24/7 operating model and technology provide us with a strong competitive position in staffing services. The service provides a competitive advantage that is difficult to copy, driven by speed, efficiency, and superior user experience for both customers and staffed employees. • We will continue to develop the service with a user-centric approach. • In addition, we will begin to explore other application areas for the AI-powered technology that connects work with workforce efficiently. Staffing services Q4/2025
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The threat of a Christmas Eve labor shortage at Kalastajatorppa was avoided thanks to Eezy's service-mindedness and artificial intelligence • In mid-December, team was still short of five waiters for Christmas Eve. • The missing waiters had been sought for some time without success through several staffing agencies. • Eezy provided a solution combining strong service orientation with AI-assisted technology: all five shifts were filled in just five minutes. Long-term partnership supports everyday operations and growth: Eezy and Motonet expand their cooperation to summer recruitment • Eezy and Motonet have been working together for several years. • The partnership helps Motonet especially when there are unexpected absences or peak periods. • Feedback from the field highlights that the Eezy’s 24/7 digital service speeds up work and makes communication smoother. • The service also enables easy, real-time monitoring of shift coverage and costs, both in the app and in the browser. Successful case stories: Kalastajatorppa and Motonet Staffing services Q4/2025
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• The decrease in revenue was driven by changes in employment services following the TE Services reform in the municipal sector, as well as subdued demand for consulting services in a challenging economic environment compared with the corresponding period. • Sales of transition security services remained at a solid level • Demand for headhunting and assessment services showed improvement compared with previous quarter • Customer satisfaction on a good level, NPS 60 in Eezy Flow, NPS 68 in Eezy Personnel. Revenue continues to decline in demanding market Professional services Q4/2025 Professional services Q4/25 Professional services Q4/24 Professional services 1-12/25 Professional services 1-12/24 6.6M€ 7.7M€ 24.0M€ 29.0M€ (-14%) (-17%)
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Group profit & loss • Q4 result was particularly affected by a decline in revenue from staffing services and consulting services. Profitability was improved by lower personnel expenses and other operating expenses. • Employees in Q4 FTE: group function employees 338 (408), staffed employees 1,902 (2,442) • Q4 EBIT included one-time costs related to the personnel expenses related to severance payments of EUR 0.1 million (0.1), other one-time costs of EUR 0.3 million (0.4) and impairments to non-current assets of EUR 0.8 million (0.5). • Depreciation, amortisation and impairment related to acquisitions EUR 1.5 million (EUR 0.8 million) Eezy Q4/2025 EUR thousand 10-12/2025 10-12/2024 01-12/2025 01-12/2024 Revenue 33 955 41 945 139 335 174 054 Other operating income 115 200 587 504 Materials and services -1 760 -2 111 -6 721 -8 562 Personnel expenses -26 528 -33 399 -111 945 -141 510 Other operating expenses -3 258 -4 346 -12 226 -14 204 Depreciation, amortisation and impairment -2 747 -2 179 -8 866 -7 942 EBIT -223 110 164 2 339 Financial income 48 66 205 687 Financial expenses -963 -905 -3 799 -3 434 Financial income and expenses -915 -839 -3 595 -2 747 Profit (loss) before taxes -1 137 -728 -3 430 -409 Income taxes 622 104 1 186 210 Profit attributable to non-controlling interests 68 147 78 108 Profit attributable to owners of the parent company -583 -772 -2 322 -306
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Group balance sheet • Goodwill and intangible assets EUR 161.7 million • No indications of impairment were identified in the goodwill impairment test. • Impairments of EUR 0.8 million recorded related to intangible and tangible assets in Q4/2025. • Equity EUR 106.1 million • Equity ratio 56.3% • Liabilities to credit institutions EUR 46.4 million, of which EUR 43.9 million is long-term. • Net debt EUR 46.2 million • excluding IFRS 16: EUR 42.4 million Eezy Q42025 EUR thousand 12/2025 12/2024 ASSETS Goodwill 141 654 141 654 Intangible assets 20 033 22 197 Tangible assets 3 355 5 016 Long-term receivables and investments 1 731 2 096 Non-current assets 166 774 170 963 Current receivables 17 673 22 214 Cash and cash equivalents 4 102 1 619 Current assets total 21 775 23 833 ASSETS TOTAL 188 549 194 795 EQUITY AND LIABILITIES Total equity attributable to shareholders of the parent company 103 353 105 670 Non-controlling interests 2 777 2 968 Total equity 106 130 108 638 Non-current liabilities total 48 079 51 582 Current liabilities total 34 340 34 575 EQUITY AND LIABILITIES TOTAL 188 549 194 795
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Group cash flow statement • Cash flow from operating activities in Q4/2025 was EUR 5.9 million (Q4/2024: EUR 6.3 million). • Investments in Q4/2025 were mainly related to IT development. • Cash flow from financing activities in Q4/2025 included repayments of EUR 0.3 million in credit facility repayments and EUR 0.5 million in lease liabilities repayments. • Operative cash flow was EUR 5.6 (5.6) million in Q4/2025. • In 2025, cash flow optimization measures had a positive impact on cash flow from operating activities. Eezy Q4/2025 EUR thousand 10-12/2025 10-12/2024 01-12/2025 01-12/2024 Cash flows from operating activities Customer payments received 37 008 46 958 144 149 182 371 Cash paid to suppliers and employees -29 935 -39 744 -128 521 -169 170 Cash flows from operating activities before financial items and taxes 7 073 7 213 15 628 13 201 Financial items paid and received -1 108 -1 195 -3 307 -3 098 Income taxes paid -59 279 -204 -598 Net cash flows from operating activities 5 906 6 297 12 117 9 505 Net cash flows from investing activities -912 -1 002 -4 460 -3 571 Net cash flows from financing activities -1 024 -3 812 -5 173 -5 585 Net change in cash and cash equivalents 3 969 1 483 2 484 348 Cash and cash equivalents at the beginning of the reporting period 133 135 1 619 1 270 Cash and cash equivalents at the end of the reporting period 4 102 1 619 4 102 1 619
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Group balance sheet key figures • Total net debt decreased by EUR 3.9 million compared with September 2025. The cash balance at the end of December 2025 was EUR 4.1 million and no overdraft facilities were in use (compared with EUR 0.3 million overdraft facilities in use in September 2025). • The company fulfilled all the covenant terms as of 31 December 2025. The company has estimated to fulfil the covenant terms in the current loan agreement within the next 12 months. Liabilities to credit institutions (EUR 46.4 million) are subject to covenant terms, which are quarterly ratio of interest-bearing net debt compared to adjusted EBITDA and monthly the minimum cash balance. Eezy Q4/2025 EUR thousand 12/2025 09/2025 06/2025 03/2025 12/2024 Net debt 46 182 50 032 52 168 54 884 52 749 Net debt excluding I FRS16 42 377 46 309 47 855 49 764 47 076 Net debt / EBITDA 5.1 x 5.7 x 6.2 x 5.9 x 5.1 x Gearing, % 43.5 % 46.9 % 49.0 % 51.1 % 48.6% Equity ratio, % 56.3 % 55.7 % 55.0 % 56.0 % 55.8% Equity per share, EUR 4.24 4.26 4.25 4.29 4.34
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• The year 2026 continues in an uncertain economic climate, and our customers’ views on their own labor needs and investment capacity are still uncertain. • In previous cycles, our industry has responded quickly to the economic cycle. Outlook for 2026 We do not provide guidance for 2026.
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Updated strategy 2026-2028 Overview on 2026 priorities
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Long-term targets 2028 Group revenue over 200 m€ EBIT over 5% Chain-wide revenue over 330 m€ Eezy's goal is to continue to distribute 30-50 percent of the profit for the financial year as dividends. Strategic targets 2028
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Speed & agility Grow in core competence areas Strengthen developing growth areas Strength from entrepreneurs Foreign workforce, development of technology, leadership Our competitive advantages Sources of growth Trends shaping the business environment MISSION Maker of a good working life VISION Let’s make work a joint matter TRANSFORMATION OF WORKING LIFE MATCHING CHALLENGE TECHNOLOGY AND AI Sustainability Best talents Locally based, nationally operating ALWAYS THE PROWAY PLAY YOUR PEER ONES BETTER 100 % RESPONSIBILITYWITH GOOD INTENTIONS Eezy’s core expertise is matching work with workforce
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According to updated strategy we seek profitable growth by focusing on its core business of staffing and recruitment services and related business operations. • We are moving forward systematically to achieve profitable growth. • We will also continue to focus on sales and customer work. We are systematically implementing strategy-driven operating models in sales into day-to-day work and will continue the phased rollout of the customer relationship management system during spring 2026. • We are committed to maintaining an efficient cost structure that is proportionate to the market situation. • Our AI-assisted 24/7 operating model and technology provide us with a strong competitive position in staffing services. We will continue to develop the service with a user-centric approach. • In addition, we will begin to explore other application areas for the AI-powered technology that connects work with workforce efficiently. Priorities 2026
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Eezy as an investment A strong player in a significant market Competitive advantages that are difficult to replicate We are building the company on a path of profitable growth • We seek profitable growth by focusing on staffing and recruitment services and related business operations • Market size over €3 billion • We are the second largest player in the staffing market • The matching challenge and the transformation of working life are creating new opportunities • Technology and AI will be significant drivers of change • A new unique AI-assisted technology and 24/7 operating model owned by Eezy • An extensive nationwide network • A strong, sustainable partner • High customer satisfaction and a broad customer base • An extensive network of satisfied staffed employees • Focusing on core competence areas in staffing • New service and pricing models in staffing • Further development of the entrepreneur network and concept • Growth is enabled by Eezy’s AI-assisted ERP system, international recruitment, and clarification of management
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Thank You!