Netcompany

“Key operational risks (continued) Data protection and privacy Given the nature of the solutions that Netcompany provides to governments, financial institutions, and large enterprises around Europe, the exposure to risks related to breach of personal data is inherently high. Such breaches are regulated by the GDPR rules, and if not managed appropriately, Netcompany could become liable for significant fines that immediately impact the financial results and even more so if such events lead to a general loss of trust and faith in Netcompany’s ability to handle personal data in accordance with the GDPR rules.”

Annual report 2025A · The company itself

“The threat level under which Netcompany operates is ever-increasing. As a gross risk, “Cyber risks” is one of our highest-scored risks applying to both our own operations, and to key suppliers that we rely on to deliver our services.”

Annual report 2025A · The company itself

“We protect employee personal data through preventative and responsive measures to maintain trust, comply with legal obligations, and uphold privacy rights.”

Annual report 2025A · The company itself

“All employees complete mandatory privacy and security awareness training during onboarding and at regular intervals. This ensures an understanding of personal data handling responsibilities and fosters a culture of privacy and accountability.”

Annual report 2025A · The company itself

“Our HR systems follow privacy-by-design principles, using data minimisation and encryption. Employees can view and update their information through secure self-service portals, providing transparency and control over their data.”

Annual report 2025A · The company itself

“Access to sensitive employee information is controlled through role-based access rights in HR and IT systems. Regular audits review these rights to prevent unauthorised use or accidental data exposure.”

Annual report 2025A · The company itself

“The increased focus from European governments, large enterprises, and the European Union on enhancing digital capabilities based on solutions from European vendors is not a passing trend; it is a fundamental realignment. The drive for digital sovereignty – the ability for a nation or region to have control over its own digital destiny – underpins the relevance and timing of our strategic investments.”

Annual report 2025A · The company itself

“We expect the focus from end customers on European sovereign identity to persist into 2026, and view this as supportive to our growth.”

Annual report 2025A · The company itself

“Any change in the political landscape – both in countries where we do business but also in target countries where we currently do not do business or in the world in general, can potentially have a significant impact on our ability to conduct our operations. Changes in the political landscape can also impact the desire of governments to make investments and potentially have negative spillover effects on the private sector. The geopolitical unrest in Europe caused by Russia’s invasion of Ukraine creates a higher level of uncertainty in Europe in general.”

Annual report 2025A · The company itself

“One of them is VERÁ, our response to the urgent need for improved resilience and defence capabilities in Europe. VERÁ is an AI-enabled platform providing real-time awareness, prediction, and response to hybrid threats – build on the PULSE platform.”

Annual report 2025A · The company itself

“A central innovation in this vertical is VERÁ, Netcompany’s next-generation command and control platform. VERÁ leverages artificial intelligence to provide real-time situational awareness, predictive analytics, and coordinated response capabilities across all operational domains – air, land, sea, space, and cyber.”

Annual report 2025A · The company itself

“A data breach in a Netcompany-supported project or client system may result in legal liabilities and remediation costs for us.”

Annual report 2025A · The company itself

“Data breach or cyber incidents (involving personal data) Data breaches and cyber incidents necessitate immediate action to stop and contain the breach. If we identify a breach, we notify our clients, who subsequently reach out to the implicated users.”

Annual report 2025A · The company itself

“System Resilience: We have established procedures for the effective management and rapid resolution of system downtime or failures. All relevant employees receive ongoing training in these methods to guarantee consistent and secure delivery of complex IT services.”

Annual report 2025A · The company itself

“Read more about our strategy Executive summary Financial review Corporate governance Sustainability statements Financial statements Social S4 Consumers and end-users 4S4 Data breaches or cyber incidents (involving personal data) Ensuring access to products and services Regular phishing email simulation train employees to recognise and report threats. Successful detection is acknowledged; failures are used as learning opportunities.”

Annual report 2025A · The company itself

“By attracting and training top talent, we build the human capital necessary to execute complex projects, at scale across multiple markets, and to continuously deliver market-leading innovative products and platforms. Our focus on empowering a modern Europe through technology creates strong relationships with governments and institutions, establishing us as the trusted partner of choice for digital transformation initiatives.”

Annual report 2025A · The company itself

“Our ambition is to become a leading modern pan-European tech company. We are positioned to achieve this by leveraging our role as a leading European IT services company with market-leading products and platforms.”

Annual report 2025A · The company itself

“Our journey, which began 25 years ago with a vision for responsible digitalisation, has culminated in our current role as a European market leading provider of mission critical digital services and solutions, supporting governments and enterprises throughout Europe.”

Annual report 2025A · The company itself

“The Greek tax authorities embark on an ambitious digital transformation with The Greek tax authorities are undertaking an ambitious modernisation of their entire tax administration landscape with SOLON TAX at its core. The solution will replace multiple legacy systems and streamline hundreds of processes, creating a unified, end-to-end digital platform.”

Annual report 2025A · The company itself

“Netcompany operates in more than 10 European countries within the public and private segments. More than 60% of our revenue comes from the public sector, where we deliver IT solutions that are critical to society.”

Annual report 2025A · The company itself

“By providing solutions developed in Europe, for Europe, we help ensure that control over critical data and digital infrastructure remains within the continent. Our expanding footprint outside of Denmark, with significant project wins in the UK, Greece, and the Netherlands, demonstrates the widespread demand for a partner who understands and embodies these principles.”

Annual report 2025A · The company itself

“Executive summary Financial review Corporate governance Sustainability statements Financial statements Equity story Total IT spend in Europe DKKbn 2024 3,680.8 2025 4,026.0 2026 4,416.4 2027 4,855.0 2028 5,342.1 1,870.1 2,155.9 Total addressable IT spend in Europe DKKbn 2024 2,732.3 2025 3,002.7 2026 3,308.5 2027 3,653.4 2028 4,037.3 1,240.1 1,762.6 Core addressable IT spend in Europe DKKbn 2024 2,391.4 2025 2,624.4 2026 2,888.6 2027 3,187.3 2028 3,520.1 1,181.4 1,443.0 IT services Software Market opportunities Towards European market leadership Netcompany is growing a strong presence across Europe, operating in Denmark, Norway, the UK, the Netherlands, Luxembourg, Belgium, Greece and other countries, aiming to become a leading modern pan-European tech company. Our operations in Northern Europe, which are among the most digitalised regions, provide expertise that can be leveraged continentwide.”

Annual report 2025A · The company itself

“While some markets are relevant due to their size, others hold potential for increased digitalisation. We are currently servicing customers in Germany and Sweden too and find both markets highly interesting – Germany for its size and Sweden for its comparability to both the Danish and Norwegian market.”

Annual report 2025A · The company itself

“In Netcompany SEE & EUI revenue grew 12.5% to DKK 2,593.2m in 2025. Revenue growth was driven by strong performance within both the public sector including the EU and the private sector, which grew revenue by 11.2% and 16.6%, respectively.”

Annual report 2025A · The company itself

“Executive summary Financial review Corporate governance Sustainability statements Financial statements Operating entities Norway Netherlands Banking Services Revenue in Netcompany Netherlands increased by 2.6% in 2025 compared to 2024, following growth of almost 35% in 2024. Gross profit margin was 33.9% in 2025 and in line with 2024.”

Annual report 2025A · The company itself

“Netcompany delivers IT solutions that enable and support European customers in their digital transformation. Netcompany’s main geographical markets are Denmark (home market), Norway, United Kingdom, Netherlands, Greece, Belgium and Luxembourg.”

Annual report 2025A · The company itself

“Likewise, we expect the increased focus on obtaining actual production gains and efficiency from AI to be supportive to our growth too, as AI is embedded into our products and platforms.”

Annual report 2025A · The company itself

“In the past year, Netcompany has further enhanced its approach to AI management and compliance in alignment with the EU AI Act and our obligations as an AI system provider. We have introduced structured compliance procedures to assess prohibited practices, high-risk AI systems, and core AI obligations across AI-related projects and services, and we are strengthening our commitment to AI literacy and transparency, by developing tailored training materials for customers and end users. We are including contractual warranties regarding the intended use of AI systems, with mechanisms in place for notification and review if the use case changes during the lifecycle of a system.”

Annual report 2025A · The company itself

“This year we have increased our focus on European digital sovereignty, our product and platform-based Go-To-Market approach, and the integration of Artificial Intelligence (AI) as a fundamental enabler.”

Annual report 2025A · The company itself

“The future belongs to European product and platform companies that leverage components, pre-built products, and AI to deliver solutions in a fast, reliable, and responsible way. In 2023, we formally embraced this vision with the launch of our product and platform strategy, a decision that is now yielding significant results and clearly differentiates Netcompany from our peers.”

Annual report 2025A · The company itself

“In Netcompany, AI is a fundamental, integrated part of our delivery model and our products and platforms. We recognised early on that, to lead the digital transformation, we had to transform ourselves first. Therefore, our workforce of +9,500 talented individuals are trained in and use our internal digital assistant, EASLEY AI.”

Annual report 2025A · The company itself

“With PULSE, we have a strong position as a European leader in predictive AI and digital ecosystems.”

Annual report 2025A · The company itself

“These investments reflect our strategic focus on expanding capabilities and enhancing our technology offerings to support future growth and the innovation required by the industries we serve.”

Annual report 2025A · The company itself

“Netcompany to build solutions for consumers and end-users that enhance everyday lives and businesses. Our strategy leverages industry expertise to deliver superior value to our clients, offering reusable products and platforms across verticals with clientdriven customisation to meet the needs of consumers and end-users.”

Annual report 2025A · The company itself

“One of them is VERÁ, our response to the urgent need for improved resilience and defence capabilities in Europe. VERÁ is an AI-enabled platform providing real-time awareness, prediction, and response to hybrid threats – build on the PULSE platform.”

Annual report 2025A · The company itself

“A central innovation in this vertical is VERÁ, Netcompany’s next-generation command and control platform. VERÁ leverages artificial intelligence to provide real-time situational awareness, predictive analytics, and coordinated response capabilities across all operational domains – air, land, sea, space, and cyber.”

Annual report 2025A · The company itself

“Work-life balance is monitored through regular surveys, including Social and Engagement Surveys. These insights inform and adapt our practices to meet emerging needs and continuously improve employee support.”

Annual report 2025A · The company itself

“In 2025, average FTEs amounted to 8,929 impacted by the inclusion of NBS that accounted for approximately 900 FTEs.”

Annual report 2025A · The company itself

“By attracting and training top talent, we build the human capital necessary to execute complex projects, at scale across multiple markets, and to continuously deliver market-leading innovative products and platforms. Our focus on empowering a modern Europe through technology creates strong relationships with governments and institutions, establishing us as the trusted partner of choice for digital transformation initiatives.”

Annual report 2025A · The company itself

“To mitigate the risk of staffing a project inadequately, we use a comprehensive staffing model where all employees’ skills, prior experience, education and so forth are captured in a central HR system, allowing Netcompany to have a detailed and comprehensive overview of the individual skills of all employees. These skills are matched to the requirements of various projects to ensure that the project is adequately staffed and to ensure that employees continue to evolve and gain competencies through an ongoing process.”

Annual report 2025A · The company itself

“We invest in training and skills development to support employee growth and contribute to wider societal progress. Health and safety are key priorities, and we make ongoing efforts to maintain safe working environments across all operations, with robust measures in place to prevent discrimination and harassment.”

Annual report 2025A · The company itself

“Our delivery methodology provides frameworks for responsible project planning, balancing the quality of the delivery with employee time off and personal needs. Managers are trained to plan with people in mind, using regular check-ins to identify issues early.”

Annual report 2025A · The company itself

“Each employee has a personal mentor – a dedicated manager responsible for their longterm development and well-being. Mentors provide consistent support through project transitions, ensuring continuity, trust, and stability.”

Annual report 2025A · The company itself

“Standardised performance appraisal process evaluates all employees using structured criteria for competencies and role-relevant qualities. Bi-annual assessments provide development and promotion readiness feedback, with clear benchmarks ensuring fair progression and remuneration across all roles.”

Annual report 2025A · The company itself

“Our workforce disclosure addresses material topics that significantly impact our workforce: work-life balance, gender equality with equal pay for equivalent roles, and privacy protection.”

Annual report 2025A · The company itself

“We support both the EU and individual member states in achieving a more efficient and yet compliant offering to Tax and Customs through our products SOLON, ERMIS and LUMENUS. This benefits both our customers and our business.”

Annual report 2025A · The company itself

“Netcompany empowers the transformation of public services through a comprehensive suite of Govtech products and platforms. Leveraging extensive experience from complex, mission-critical projects, we enable governments to deliver secure, user-centric digital services.”

Annual report 2025A · The company itself

“Netcompany is at the forefront of digitalising Europe’s tax and customs landscape, delivering robust, scalable solutions that underpin modern revenue collection and border management. Our advanced products and platforms, streamline compliance, enhance fraud prevention, and simplify interactions for millions of taxpayers and businesses.”

Annual report 2025A · The company itself

“The Greek tax authorities embark on an ambitious digital transformation with The Greek tax authorities are undertaking an ambitious modernisation of their entire tax administration landscape with SOLON TAX at its core. The solution will replace multiple legacy systems and streamline hundreds of processes, creating a unified, end-to-end digital platform.”

Annual report 2025A · The company itself

“The organic growth was driven by 7.4% growth in revenue from the public sector and 8.4% growth in revenue from the private sector.”

Annual report 2025A · The company itself

“Netcompany operates in more than 10 European countries within the public and private segments. More than 60% of our revenue comes from the public sector, where we deliver IT solutions that are critical to society.”

Annual report 2025A · The company itself

“Raw materials Data centre hostingComponents Solution use-phaseHardware and software Hardware recyclingOwn operations Freelancers Netcompany E1 Nature S1 Employees G1 Business Partners Mining companies and recyclers E1 Nature S2 Workers E1 Nature S2 Workers Manufacturers Business partners E3 Nature Recyclers E5 Nature S2 Workers Public institutions, EU, and businesses S4 End-users, data subjects, civil society Hardware assembly, distributors S2 Workers Car leasing companies E1 Nature We deliver IT services, products, and platforms to private and public clients across Europe.”

Annual report 2025A · The company itself

“For public sector clients, we develop systems across healthcare, social services, justice, infrastructure, and governance, including citizen portals, benefit platforms, e-court systems, transportation applications, and customs and taxation services. Our private sector solutions encompass e-commerce platforms, billing systems, case management, CRM, and enterprise risk management for businesses and trade unions.”

Annual report 2025A · The company itself

“Our services support modern, efficient, and transparent administration for both public sector organisations and private businesses.”

Annual report 2025A · The company itself

“Netcompany, the Commission launched an updated version of the Reference Implementation for the EU Digital Identity Wallet in December, enhanced with key features and aligned with the latest technical standards. This marks another significant step in supporting the Member States’ public rollout of the wallet in December 2026.”

Annual report 2025A · The company itself

“The future belongs to European product and platform companies that leverage components, pre-built products, and AI to deliver solutions in a fast, reliable, and responsible way. In 2023, we formally embraced this vision with the launch of our product and platform strategy, a decision that is now yielding significant results and clearly differentiates Netcompany from our peers.”

Annual report 2025A · The company itself

“These investments reflect our strategic focus on expanding capabilities and enhancing our technology offerings to support future growth and the innovation required by the industries we serve.”

Annual report 2025A · The company itself

“Our solutions undergo quality assurance at well-defined milestones that align with the client’s expectations, requirements, and specifications. We ensure quality through design, build, early and continuous testing, stable production and review of all deliverables.”

Annual report 2025A · The company itself

“During the test phase, we seek to involve consumers and end-users to ensure accessibility if needed. We advise our clients to invite relevant consumers and end-users to participate in the design and testing of the solution prior to its launch.”

Annual report 2025A · The company itself

“To serve all consumers and end-users effectively, we must meet clients’ accessibility requirements, ensuring our solutions work for people with disabilities as well as those with limited digital skills. Our methodology and quality management processes mitigate accessibility risks, with regular updates based on feedback from quality audits.”

Annual report 2025A · The company itself

“When we are both the data processor and controller, such as with mit.dk, affected consumers and end-users may contact us through email to raise concerns. The issues are then escalated to the relevant project team and management for further review and resolution.”

Annual report 2025A · The company itself

“Faroe Islands, Germany, Greece, Netherlands, Norway, Sweden Financial Services Case The Pension Platform for the Next Decade Three structural pressures face pension funds today; ageing demographics, rising digital expectations from customers, and tightening regulations. These demands place significant pressure on existing pension solutions, as expectations cannot be met by simply layering automation, self-service, and AI onto a legacy IT architecture.”

Annual report 2025A · The company itself

“In 2025, the acquisition of SDC A/S, completed through its merger with Netcompany Banking Services (NBS), marked a pivotal step, demonstrating our ability to transform the future of banking in Europe. With NBS’s regulated core banking infrastructure – serving millions of customers and processing billions of transactions – Netcompany now powers scalable, secure, and innovative financial operations for over 50 banks across the Nordics.”

Annual report 2025A · The company itself

“During 2025, we established Netcompany Banking Services A/S by way of merging SDC A/S into Netcompany Banking Services. The transaction was closed on 1 July and valued SDC at DKK 1bn, which was paid in cash on 1 July 2025 by Netcompany Banking Services A/S to SDC’s shareholders.”

Annual report 2025A · The company itself

“The merger of SDC into Netcompany Banking Services during the year extends our product and platform strategy further into the Financial Services Industry. By commercialising traditional bank offerings, through a combination of modern core banking capabilities and innovative platforms, we tap into the largest vertical for IT spending in the private sector – Financial Services.”

Annual report 2025A · The company itself

“A modern banking platform built for scale and innovation Netcompany Banking Services (NBS) is a premier provider of core banking solutions and critical IT infrastructure, partnering with more than 50 banks and serving millions of customers across the Nordic region. As a regulated financial infrastructure operator, NBS processes over 1.6 billion core transactions and 40 million card and instant payments monthly.”

Annual report 2025A · The company itself

“Netcompany operates in more than 10 European countries within the public and private segments. More than 60% of our revenue comes from the public sector, where we deliver IT solutions that are critical to society.”

Annual report 2025A · The company itself

“By providing solutions developed in Europe, for Europe, we help ensure that control over critical data and digital infrastructure remains within the continent. Our expanding footprint outside of Denmark, with significant project wins in the UK, Greece, and the Netherlands, demonstrates the widespread demand for a partner who understands and embodies these principles.”

Annual report 2025A · The company itself

“Executive summary Financial review Corporate governance Sustainability statements Financial statements Operating entities Denmark SEE & EUI United Kingdom Revenue in Netcompany Denmark increased 3.6% to DKK 3,199.9m in 2025. Revenue was mainly driven by growth in the private sector, which increased revenue by 8.2%, whereas revenue grew by 0.8% in the public sector.”

Annual report 2025A · The company itself

“Netcompany delivers IT solutions that enable and support European customers in their digital transformation. Netcompany’s main geographical markets are Denmark (home market), Norway, United Kingdom, Netherlands, Greece, Belgium and Luxembourg.”

Annual report 2025A · The company itself

“Large scale multi-year projects At any given point in time, Netcompany will be implementing a number of solutions with our clients. The number of ongoing projects is typically around 250-300 at any given time during the year. Naturally, some are larger than others and the projects will be in different phases of their lifecycle.”

Annual report 2025A · The company itself

“The organic growth was driven by 7.4% growth in revenue from the public sector and 8.4% growth in revenue from the private sector.”

Annual report 2025A · The company itself

“Raw materials Data centre hostingComponents Solution use-phaseHardware and software Hardware recyclingOwn operations Freelancers Netcompany E1 Nature S1 Employees G1 Business Partners Mining companies and recyclers E1 Nature S2 Workers E1 Nature S2 Workers Manufacturers Business partners E3 Nature Recyclers E5 Nature S2 Workers Public institutions, EU, and businesses S4 End-users, data subjects, civil society Hardware assembly, distributors S2 Workers Car leasing companies E1 Nature We deliver IT services, products, and platforms to private and public clients across Europe.”

Annual report 2025A · The company itself

“For public sector clients, we develop systems across healthcare, social services, justice, infrastructure, and governance, including citizen portals, benefit platforms, e-court systems, transportation applications, and customs and taxation services. Our private sector solutions encompass e-commerce platforms, billing systems, case management, CRM, and enterprise risk management for businesses and trade unions.”

Annual report 2025A · The company itself

“Internal controls and systems Netcompany operates an integrated business, however part of the Group has been operating outside of the Group IT platform (NBS). This increases the risk of errors and adds complexity to the control environment.”

Annual report 2025A · The company itself

“Opportunity Access to products and services Unplanned downtime may impact the technical availability of systems, affecting consumers’ access to quality information. Potential negative impact Non-discrimination Increasing digitalisation present the potential to exacerbate the digital divide, which could disadvantage certain populations across Europe.”

Annual report 2025A · The company itself

“Access to products and services For all solutions we host, we have a robust incident response protocol to manage and mitigate any service disruptions. In the event of a system failure or downtime, our team acts immediately to resolve the issue.”

Annual report 2025A · The company itself

“Our integrated procedures and systems involve designated roles across our organisation, dedicating time and resources to training colleagues and clients, quality review of deliverables and issue mitigation. These activities represent a substantial investment of personnel time, even if they do not require significant capital expenditure.”

Annual report 2025A · The company itself

“The Information, Communication, and Technology sector inherently relies on energy throughout its value chain, and Netcompany reduces this impact by utilising renewable energy supply for our own operations and ongoing dialogues with both suppliers and clients to identify the best solutions for the defined business needs. Netcompany is not exposed to any energy-related pricing risks.”

Annual report 2025A · The company itself

“The increase in energy consumption during the year was primarily driven by higher fuel consumption resulting from growth in the Group’s vehicle fleet, supported by improved fuel data quality and more complete reporting. This was partly offset by a reduction in non-renewable electricity consumption, as electricity sourced from renewable energy increased and 100% of eligible electricity consumption was covered by Energy Attribute Certificates.”

Annual report 2025A · The company itself

“We pursue a high level of renewable energy coverage as a key action to mitigate climate change and are maturing our efforts across the Group.”

Annual report 2025A · The company itself

“A few years ago, we introduced our product and platform strategy to sharpen our industry vertical approach and accelerate innovation. Over the past year, we have delivered against this strategy across our target verticals – Digital Government, Tax & Customs, Infrastructure, Defence & Resilience and Financial Services – offering a robust portfolio of products and platforms solving complex sector needs.”

Annual report 2025A · The company itself

“Our journey, which began 25 years ago with a vision for responsible digitalisation, has culminated in our current role as a European market leading provider of mission critical digital services and solutions, supporting governments and enterprises throughout Europe.”

Annual report 2025A · The company itself

“The Group’s primary service offerings include information technology consulting services and operations solutions. These services are characterised by negotiated, consumption-based contracts and typically involve advisory, design, and development activities, making them complex in nature.”

Annual report 2025A · The company itself

“A modern banking platform built for scale and innovation Netcompany Banking Services (NBS) is a premier provider of core banking solutions and critical IT infrastructure, partnering with more than 50 banks and serving millions of customers across the Nordic region. As a regulated financial infrastructure operator, NBS processes over 1.6 billion core transactions and 40 million card and instant payments monthly.”

Annual report 2025A · The company itself

“Executive summary Financial review Corporate governance Sustainability statements Financial statements Equity story Total IT spend in Europe DKKbn 2024 3,680.8 2025 4,026.0 2026 4,416.4 2027 4,855.0 2028 5,342.1 1,870.1 2,155.9 Total addressable IT spend in Europe DKKbn 2024 2,732.3 2025 3,002.7 2026 3,308.5 2027 3,653.4 2028 4,037.3 1,240.1 1,762.6 Core addressable IT spend in Europe DKKbn 2024 2,391.4 2025 2,624.4 2026 2,888.6 2027 3,187.3 2028 3,520.1 1,181.4 1,443.0 IT services Software Market opportunities Towards European market leadership Netcompany is growing a strong presence across Europe, operating in Denmark, Norway, the UK, the Netherlands, Luxembourg, Belgium, Greece and other countries, aiming to become a leading modern pan-European tech company. Our operations in Northern Europe, which are among the most digitalised regions, provide expertise that can be leveraged continentwide.”

Annual report 2025A · The company itself

“Netcompany’s main geographical markets are Denmark (home market), Norway, United Kingdom, Netherlands, Greece, Belgium and Luxembourg. Besides these seven main markets in Europe, Netcompany is also geographically represented in Cyprus, Poland, Romania, Jordan, United States, Sweden, Germany, South Africa and Vietnam.”

Annual report 2025A · The company itself

“In 2025, we continued donating refurbished laptops to educational institutions, demonstrating our commitment to social responsibility by bridging the digital divide whilst promoting circular economy principles through hardware lifecycle extension and responsible reuse.”

Annual report 2025A · The company itself

“Through our Supplier Code of Conduct, to be implemented during 2026, our Supplier Sustainability Due Diligence Policy, and tender processes, we encourage and require key suppliers and partners to uphold similar environmental commitments. These standards underline our commitment to comply with environmental laws and the continuous improvement of practices related to e-waste prevention, recycling, reuse of materials, and use of sustainable resources.”

Annual report 2025A · The company itself

“Acting as a supplier, we also process data on our customers’ behalf, such as when we support or host their IT systems.”

Annual report 2025A · The company itself

“Our clients solutions impact citizens at every stage of life, from birth registration and education systems through to healthcare services and pension payments, fundamentally shaping how society interacts with essential services.”

Annual report 2025A · The company itself

“Netcompany’s Infrastructure vertical leads the digital transformation of Infrastructure in broader terms, including transportation and logistics, supporting businesses in optimising operations and adapting to changing market demands. Our real-time data engines and control towers provide a single source of truth, enabling seamless integration of planning, execution, and results.”

Annual report 2025A · The company itself

“Alongside transport and logistics, we enable innovation in energy & utilities, helping energy suppliers, e-Mobility, waste management, telecoms, and wind power companies modernise legacy systems and accelerate their transition to data-driven, customer-centric operations.”

Annual report 2025A · The company itself

“In Netcompany, AI is a fundamental, integrated part of our delivery model and our products and platforms. We recognised early on that, to lead the digital transformation, we had to transform ourselves first. Therefore, our workforce of +9,500 talented individuals are trained in and use our internal digital assistant, EASLEY AI.”

Annual report 2025A · The company itself

“Raw materials Data centre hostingComponents Solution use-phaseHardware and software Hardware recyclingOwn operations Freelancers Netcompany E1 Nature S1 Employees G1 Business Partners Mining companies and recyclers E1 Nature S2 Workers E1 Nature S2 Workers Manufacturers Business partners E3 Nature Recyclers E5 Nature S2 Workers Public institutions, EU, and businesses S4 End-users, data subjects, civil society Hardware assembly, distributors S2 Workers Car leasing companies E1 Nature We deliver IT services, products, and platforms to private and public clients across Europe.”

Annual report 2025A · The company itself

“Netcompany’s Defence vertical is dedicated to bolstering digital sovereignty and operational readiness for European democracies. We design and deliver secure, resilient IT solutions for high-assurance and classified environments, enabling defence organisations to modernise infrastructure and maintain strategic advantage in a rapidly evolving threat landscape.”

Annual report 2025A · The company itself

“In 2025, we continued donating refurbished laptops to educational institutions, demonstrating our commitment to social responsibility by bridging the digital divide whilst promoting circular economy principles through hardware lifecycle extension and responsible reuse.”

Annual report 2025A · The company itself

“Alongside transport and logistics, we enable innovation in energy & utilities, helping energy suppliers, e-Mobility, waste management, telecoms, and wind power companies modernise legacy systems and accelerate their transition to data-driven, customer-centric operations.”

Annual report 2025A · The company itself

“Netcompany’s Infrastructure vertical leads the digital transformation of Infrastructure in broader terms, including transportation and logistics, supporting businesses in optimising operations and adapting to changing market demands. Our real-time data engines and control towers provide a single source of truth, enabling seamless integration of planning, execution, and results.”

Annual report 2025A · The company itself

“Alongside transport and logistics, we enable innovation in energy & utilities, helping energy suppliers, e-Mobility, waste management, telecoms, and wind power companies modernise legacy systems and accelerate their transition to data-driven, customer-centric operations.”

Annual report 2025A · The company itself

“The increased focus from European governments, large enterprises, and the European Union on enhancing digital capabilities based on solutions from European vendors is not a passing trend; it is a fundamental realignment. The drive for digital sovereignty – the ability for a nation or region to have control over its own digital destiny – underpins the relevance and timing of our strategic investments.”

Annual report 2025A · The company itself

“Netcompany, the Commission launched an updated version of the Reference Implementation for the EU Digital Identity Wallet in December, enhanced with key features and aligned with the latest technical standards. This marks another significant step in supporting the Member States’ public rollout of the wallet in December 2026.”

Annual report 2025A · The company itself

“We expect the focus from end customers on European sovereign identity to persist into 2026, and view this as supportive to our growth.”

Annual report 2025A · The company itself

“Currently, we do not have a Group-level transition plan for climate change mitigation, aimed at ensuring that our strategy and business model are compatible with the transition to a sustainable economy and limiting global warming to 1.5 degrees in line with the Paris Agreement.”

Annual report 2025A · The company itself

“The CSA did however confirm the pre-existing transition risk identified in relation to clients’ requirements potentially increasing over time and adding a material, however not significant, cost to our operations.”

Annual report 2025A · The company itself

“We continue to recognise one transitional risk, relating specifically to the potential risk of not meeting the future requirements of our clients if their ambitions and expectations exceed our climate-related performance.”

Annual report 2025A · The company itself

“We continue the previous years’ focus on alignment with key suppliers, such as data centres, while also enhancing data management and reporting.”

Annual report 2025A · The company itself

“Read more about CBAM https://netcompany.com/cbam/ Executive summary Financial review Corporate governance Sustainability statements Financial statements Case CBAM E3 IRO-1 Water and marine resources 86 Water and marine resources E3 In our reporting on water and marine resources, we examine how water withdrawal at the data centres we rely on could affect water availability for local communities. To do so, we screen our assets, colocation arrangements, and broader value-chain activities for any material impacts on water withdrawal or consumption. We utilise two types of data centres: ■ Colocation data centres: We lease the space and own the business-critical equipment, enabling us to service clients efficiently with their hosting needs ■ Co-host data centres, including hyper-scale cloud: We lease cloud hosting capacity at extensive and scalable facilities across Europe Data centre operations are integral to our core business activities.”

Annual report 2025A · The company itself

“Suppliers that have a mature approach to sustainability rank higher in our tenders and selection processes.”

Annual report 2025A · The company itself

“Failure to uphold ISO 14001 certification as required by certain clients could result in loss of business.”

Annual report 2025A · The company itself

“In 2025, we achieved 7.9% organic revenue growth in constant currencies and maintained organic adjusted EBITDA margin on par with last year.”

Annual report 2025A · The company itself

“For large multi-year contracts, the strength and quality of the contractual framework is critical, as developments in the Consumer Price Index (CPI), changes to scope and budget, and other external factors may impact the profitability.”

Annual report 2025A · The company itself

“The Group loan carries a floating rate of interest, and Management therefore closely follows the development in the IBOR and continuously consider if interest risks should be minimised by hedging the interest rate.”

Annual report 2025A · The company itself

“Following the increase in IBOR, the Group is no longer exposed to interest rate risks relating to the cash balances, which previously carried negative interest due to the past low interest environment.”

Annual report 2025A · The company itself

“Faroe Islands, Germany, Greece, Netherlands, Norway, Sweden Financial Services Case The Pension Platform for the Next Decade Three structural pressures face pension funds today; ageing demographics, rising digital expectations from customers, and tightening regulations. These demands place significant pressure on existing pension solutions, as expectations cannot be met by simply layering automation, self-service, and AI onto a legacy IT architecture.”

Annual report 2025A · The company itself

“In the past year, Netcompany has further enhanced its approach to AI management and compliance in alignment with the EU AI Act and our obligations as an AI system provider. We have introduced structured compliance procedures to assess prohibited practices, high-risk AI systems, and core AI obligations across AI-related projects and services, and we are strengthening our commitment to AI literacy and transparency, by developing tailored training materials for customers and end users. We are including contractual warranties regarding the intended use of AI systems, with mechanisms in place for notification and review if the use case changes during the lifecycle of a system.”

Annual report 2025A · The company itself

“Executive summary Financial review Corporate governance Sustainability statements Financial statements Financial performance Netcompany Group In 2025, organic revenue grew 7.7% (constant 7.9%) compared to 2024.”

Annual report 2025A · The company itself

“Netcompany UK grew revenue 13.5% to DKK 688.2m in 2025. The growth was driven by the public sector which grew revenue 20.8% during the year, while private sector revenue declined 2.9%, as a result of discontinuation/ completion of historical low-margin contracts.”

Annual report 2025A · The company itself

“Netcompany’s main geographical markets are Denmark (home market), Norway, United Kingdom, Netherlands, Greece, Belgium and Luxembourg. Besides these seven main markets in Europe, Netcompany is also geographically represented in Cyprus, Poland, Romania, Jordan, United States, Sweden, Germany, South Africa and Vietnam.”

Annual report 2025A · The company itself

“When establishing Netcompany Banking Services this year, we enhanced our focus on governance structures and on relevant regulatory developments.”

Annual report 2025A · The company itself

“As a sectoral challenge, electronic equipment is associated with a risk of negative human rights impacts, especially in upstream value chain stages of exploration, extraction, and hardware assembly. We rely on professional suppliers and perform sustainability due diligence as part of our sourcing and procurement processes to avoid being linked, or contribute, to such events.”

Annual report 2025A · The company itself

“Our colocation data centres either do not use water for cooling or employ closed-loop systems with minimal water withdrawal. Operational maintenance practices are in place to reduce the likelihood of leakage, and these facilities are not located in areas with high water stress.”

Annual report 2025A · The company itself