Media and entertainment

“Mediakäyttäytymisen muutokset, jotka aiheuttavat tilaaja- ja lukijamäärien merkittävää laskua aiheuttaen digitaalisen mainosmyynnin pysyvän vähentymisen.”

Annual report 2025A · The company itself

“Medialiiketoimintamme jatkaa hallittua siirtymää painetusta mediasta täysin digitaaliseen Alma Median strategia mediaan mahdollistaen skaalautuvan ja kannattavan kasvun.”

Annual report 2025A · The company itself

“Alma News Mediassa jatkoimme hallittua siirtymää painetusta mediasta digitaaliseen. Liikevaihto pysyi kokonaisuutena vakaana, vaikka printin lasku jatkui. Digitaalinen sisältö- ja tilausliiketoiminta kasvoi, ja oikaistu liikevoitto parani selvästi 11,1 %:lla 17,2 milj. euroon, mikä vastasi 16,2 % liikevaihdosta.”

Annual report 2025A · The company itself

“Yhtiö rakentaa kestävää kasvua mediasta palveluihin tarjoten sisältöjä ja palveluja, jotka hyödyttävät käyttäjiä arjessa, työssä ja vapaa-ajalla. Tuotteemme ovat alallaan johtavia media- ja palvelubrändejä.”

Annual report 2025A · The company itself

“Suomessa talousmediamme (Kauppalehti, Talouselämä) ja valtakunnallinen uutismedia Iltalehti tavoittavat yhteensä noin 80 % suomalaisista.”

Annual report 2025A · The company itself

“Alma News Media • Toimii Suomessa monikanavaisena digitaalisena uutis- ja talousmedian kokonaisuutena. • Iltalehti on valtakunnallinen uutismedia ja koko kansan keskustelufoorumi, joka tunnetaan vahvasta reaaliaikaisesta uutisseurannasta, monipuolisista sisältökonsepteista sekä digitaalisesta edelläkävijyydestä.”

Annual report 2025A · The company itself

“• Kauppalehti on Suomen johtava talousmedia ja ammattilaisten tietolähde.”

Annual report 2025A · The company itself

“Strategia Strategia, liiketoimintamalli ja arvoketju (SBM-1) Alma Median liiketoiminta koostuu digitaalisista markkinapaikoista, mediasta ja digitaalisista palveluista. Raportointisegmentit ovat Alma Career, Alma Marketplaces ja Alma News Media.”

Annual report 2025A · The company itself

“Medialiiketoiminta kattaa ammatti- ja talousmediat sekä valtakunnallisen kuluttajamedian, joiden rooli kestävyyden kannalta liittyy luotettavan tiedon tuottamiseen, yhteiskunnallisen keskustelun edistämiseen ja demokraattisen yhteiskunnan tukemiseen.”

Annual report 2025A · The company itself

“Kokonaisuuteen kuuluvat myös Talouselämä, Tekniikka&Talous, Tivi ja Arvopaperi, jotka tarjoavat syventävää asiantuntijasisältöä liike-elämän ja teknologian eri osa-alueilta. • Alma News Median digitaaliset palvelut tavoittavat yhteensä noin 3 miljoonaa suomalaista viikoittain ja muodostavat vaikuttavan, dataohjatun ja bränditurvallisen ympäristön mainostajille. • Segmentti on digitaalisen tilaajaliiketoiminnan kehittäjä ja panostaa jatkuvasti teknologiaan, dataan ja käyttäjäkokemukseen tavoitteenaan kasvattaa lukijatuottoja ja vahvistaa kestävää digitaalista liiketoimintaa.”

Annual report 2025A · The company itself

“Alma Median pääasiallinen liiketoiminta koostuu digitaalisista palveluista, asiakkaina yksityisen sektorin yrityksiä Euroopassa.”

Annual report 2025A · The company itself

“Seasonality Our revenue may experience seasonality during several periods throughout the year driven by fluctuations in advertising demand associated with mobile gaming and e-commerce activity. These fluctuations may be influenced by factors such as major holidays, promotional events, school-related cycles, and broader shifts in consumer spending patterns.”

Annual report 2025A · The company itself

“Further, a significant amount of our total revenue is derived through mobile applications subject to a limited number of third-party distribution platforms, such as the Apple App Store, the Google Play Store, and Meta.”

Annual report 2025A · The company itself

“Additionally, our future growth may include expansion into additional features for our advertisers and publishers, other mobile app sectors, social, connected TV markets through Wurl, or other opportunities which may require significant investment in order to launch and which may not prove successful.”

Annual report 2025A · The company itself

“Wurl Wurl is our connected TV ("CTV") platform which distributes streaming video for content companies and provides advertising and publishing solutions to maximize advertising revenue, grow their CTV viewership, and strengthen their brand value. Wurl focuses on driving the streaming industry forward with market-leading solutions that help connect the right viewers to the right content.”

Annual report 2025A · The company itself

“For example, in June 2025, we sold our Apps business.”

Annual report 2025A · The company itself

“Through our technologies and scaled distribution, advertisers are able to better place content so that it is discovered by the right audience, manage, optimize, and analyze their marketing investments, and improve the monetization of their content, and publishers are able to better monetize their gaming apps.”

Annual report 2025A · The company itself

“Accordingly, we face significant competition from traditional, online, and mobile businesses that provide ad networks and platforms, and other services for advertisers to reach relevant audiences. We also face competition from providers of developer tools that enable developers to reach their audiences or manage or optimize their advertising campaigns.”

Annual report 2025A · The company itself

“We face concentration risk in that our advertising solutions primarily operate in the mobile app ecosystem and specifically mobile gaming. As such, our business depends, in part, on the continued health and growth of these app ecosystems.”

Annual report 2025A · The company itself

“We could be materially disadvantaged in the future if we are subject to new laws, regulations or regulatory actions that do not equally impact our key competitors. For example, Internet-delivered streaming video services compete with our traditional video service, but they are not subject to the same level of federal, state, and local regulation.”

Annual report 2025A · The company itself

“To the extent that we are unable to reach agreement with certain programmers on terms that we believe are reasonable, we have been, and may in the future be, forced to remove such programming channels from our line-up, which may result in a loss of customers. Any failure to carry programming that is attractive to our customers could adversely impact our customer levels, operations and financial results.”

Annual report 2025A · The company itself

“We obtain basic and premium programming, usually pursuant to written contracts from a number of suppliers. We have also been successful in obtaining access to the related programmer streaming applications pursuant to those contracts at no additional cost.”

Annual report 2025A · The company itself

“Popular stations routinely invoke “retransmission consent” and demand substantial compensation increases in their negotiations with cable operators, thereby significantly increasing our operating costs.”

Annual report 2025A · The company itself

“Programming costs are one of our largest expense items. While decreases in video customers combined with a change in the mix of customers choosing lower cost packages have offset total programming cost increases, we expect contractual programming rates per service subscriber to continue to increase in excess of customary inflationary and cost-of-living type increases as a result of annual increases pursuant to our programming contracts and contract renewals with programmers.”

Annual report 2025A · The company itself

“Increases in the cost of sports programming and the amounts paid for local broadcast station retransmission-consent have been the largest contributors to the growth in our programming costs over the last several years.”

Annual report 2025A · The company itself

“The decrease in our operating costs and expenses, exclusive of items shown separately in the consolidated statements of operations, was attributable to the following (dollars in millions): Programming $ (831) Other costs of revenue 353 Field and technology operations (18) Customer operations (47) Marketing and residential sales 192 Transition expenses 19 Other (96) $ (428) 45 Programming costs were approximately $8.8 billion and $9.7 billion for the years ended December 31, 2025 and 2024, representing 27% and 29% of total operating costs and expenses, respectively. Programming costs consist primarily of costs paid to programmers for basic, premium, video on demand, and pay-per-view programming.”

Annual report 2025A · The company itself

“We continue to innovate our video product and have transformed all of our affiliation agreements with major programmers. These new agreements give us greater overall packaging flexibility and the ability to include the ad-supported versions of key programmer streaming applications, at no extra cost, within our video packages, along with the ability to upgrade to ad-free versions and to sell those applications to customers a la carte for a seamless entertainment experience.”

Annual report 2025A · The company itself

“Video Services We provide our customers with a choice of video programming services on a variety of platforms and through a variety of programming packages with approximately 375 channels available in home and out of home allowing our customers to access the programming they want, when they want it, on any device.”

Annual report 2025A · The company itself

“Advertising Services Our advertising sales division, Spectrum Reach, offers local, regional and national businesses the opportunity to advertise in individual and multiple service areas on cable television networks, various streaming services and numerous advanced advertising platforms. We receive revenues from the sale of local advertising across various platforms for networks such as TBS, CNN and ESPN.”

Annual report 2025A · The company itself

“In July 2025, we began launching the sale of these seamless entertainment applications to customers on an à la carte basis, and we recently launched the Spectrum App Store, a digital storefront that helps customers activate, upgrade, buy and manage their streaming applications in one place. We also continue to evolve other elements of our video product and are deploying Xumo stream boxes to new video customers.”

Annual report 2025A · The company itself

“Approximately 89% of our revenues for each of the years ended December 31, 2025 and 2024 are attributable to monthly subscription fees charged to customers for our Internet, mobile, video, voice and commercial services as well as regional sports and news channels.”

Annual report 2025A · The company itself

“Advertising sales revenues consist primarily of revenues from commercial advertising customers, programmers and other vendors, as well as local cable and advertising on regional sports and news channels. Advertising sales revenues decreased $312 million during the year ended December 31, 2025 as compared to the corresponding period in 2024 primarily due to a decrease in political revenue.”

Annual report 2025A · The company itself

“Content & Experiences Business Media Segment We operate our Media segment as a combined television and streaming business, which primarily includes: •NBCUniversal’s national and regional cable networks •NBC and Telemundo broadcast networks and owned local broadcast television stations •Peacock DTC streaming service •International television networks, including Sky Sports networks in the United Kingdom and Italy We distribute a wide variety of programming on our linear television networks, Peacock and other digital properties to appeal to consumers with varying preferences across demographics and geographic areas.”

Annual report 2025A · The company itself

“They must compete to obtain talent, popular content (including sports programming), advertising and other resources required to successfully operate their businesses. This competition has further intensified as certain DTC streaming service providers have commissioned, and may continue to commission, high-cost programming and acquire live sports rights to attract viewers at significant costs.”

Annual report 2025A · The company itself

“The number of entertainment choices available to consumers, including DTC streaming service providers and aggregators, social networking and user-generated content platforms, and gaming and virtual reality products and services, continues to increase, intensify audience fragmentation and disaggregate how content traditionally has been distributed to and viewed by consumers.”

Annual report 2025A · The company itself

“The popularity of many of these content distribution platforms has changed, and we expect will continue to change, consumers’ expectations of video content, video aggregation services and the value of our video services, their willingness to pay for such content and services, their perception of quality entertainment and their tolerance for commercial interruptions.”

Annual report 2025A · The company itself

“The continuing trend of content owners, including us with Peacock, delivering their content directly to consumers, rather than through, or in addition to, traditional video distribution channels also disrupts traditional media distribution business models. As consumers increasingly turn to DTC streaming services in lieu of linear video services, which continue to experience accelerated net customer losses, our video customers and video revenues, and linear television network subscriber fees received from video service providers, each decrease.”

Annual report 2025A · The company itself

“In addition to reducing traditional television viewership, these trends, when coupled with time-shifting technologies such as DVR and on demand services, have caused, and likely will continue to cause, audience ratings declines for our television networks.”

Annual report 2025A · The company itself

“We compete for the sale of advertising time with digital properties, including an increasing number of ad-supported DTC streaming service providers as advertisers have shifted, and may continue to shift, a larger portion of their total expenditures to digital media. We also compete with other online content providers, such as social networking platforms and user-generated content providers, television networks and stations, and all other advertising platforms.”

Annual report 2025A · The company itself

“In addition, lower audience ratings and reduced viewership, which many of our linear television networks have experienced, and likely will continue to experience, as well as the level of popularity of Peacock, affect advertisers’ willingness to purchase advertising from us and the rates paid.”

Annual report 2025A · The company itself

“Moreover, we may generate lower revenue when we opt to retain our content for our own use, including for Peacock, rather than licensing it to third parties who pay licensing fees for such content.”

Annual report 2025A · The company itself

“The loss of programming distribution agreements, or the renewal of these agreements on less favorable terms, could adversely affect our businesses. Our linear television networks depend on their ability to secure and maintain distribution agreements with traditional and virtual multichannel video providers.”

Annual report 2025A · The company itself

“Programming To offer video services, Residential Connectivity & Platforms licenses substantial amounts of linear television programming from both third parties and our Media segment.”

Annual report 2025A · The company itself

“The programming on our Sky-branded entertainment television networks includes content licensed from both third parties and our Studios segment, including certain original content, and the most significant agreements for the licensing of film and television entertainment content include rights with Paramount, Warner Bros. and our Studios segment, certain of which are exclusive rights.”

Annual report 2025A · The company itself

“Our most significant sports rights agreements relate to the NBA, NFL, Olympics and English Premier League. The table below presents a summary of these and certain other sports rights as of December 31, 2025.”

Annual report 2025A · The company itself

“We have various multiyear agreements for the licensing of content, including contracts related to television and/or streaming rights for sporting events. We generally seek to include in our sports rights agreements the rights to distribute content on one or more of our television networks and on digital properties, including Peacock.”

Annual report 2025A · The company itself

“We obtain a significant portion of our content from third parties, such as movie studios, television production companies, sports organizations and other suppliers, sometimes on an exclusive basis. Competition for popular content, particularly for sports rights, is intense.”

Annual report 2025A · The company itself

“Entering into or renewing contracts for such content rights or acquiring additional rights has in the past resulted, and may result in the future, in significantly increased costs, potentially over an extended contractual term.”

Annual report 2025A · The company itself

“Programming expenses for our video services are increasing on a per subscriber basis, which could adversely affect our video businesses.”

Annual report 2025A · The company itself

“We expect programming expenses for our video services to continue to be the largest single expense item for our Residential Connectivity & Platforms business and to continue to increase on a per subscriber basis.”

Annual report 2025A · The company itself

“Part of these programming expenses include payments to certain local broadcast television stations in exchange for their required consent for the retransmission of broadcast network programming to video services customers; we expect to continue to be subject to demands for payment and other concessions from local broadcast television stations.”

Annual report 2025A · The company itself

“Video We offer video services to residential and business customers. Our video packages range from a basic to full linear service and typically include free-to-air networks, a variety of other linear television networks including premium, sports and news networks, and certain direct-to-consumer streaming services (“DTC streaming services”) such as Peacock, Disney+ and Netflix.”

Annual report 2025A · The company itself

“Advertising As part of our distribution agreements with domestic cable networks, we generally receive an allocation of scheduled advertising time that our advertising business sells, and we also sell advertising on our Sky-branded entertainment television networks and on our digital platforms.”

Annual report 2025A · The company itself

“We sell advertising on our linear television networks, Peacock and other digital properties.”

Annual report 2025A · The company itself

“Domestic Broadcast Networks NBC The NBC network features original entertainment, news and sports programming that reaches viewers in virtually all U.S. television households through more than 200 affiliated stations across the United States, including our 11 owned NBC local broadcast television stations. The NBC owned local broadcast television stations include stations in 8 of the top 10 general markets and collectively reached approximately 36 million U.S. television households as of December 31, 2025, representing approximately 28% of U.S. television households.”

Annual report 2025A · The company itself

“Peacock Peacock is our DTC streaming service, featuring NBCUniversal and third-party content. Programming includes exclusive Peacock originals, current NBC, Bravo and Telemundo shows, news, late-night comedy, live sports and a library of television shows and movies, as well as several live channels and a live stream of customers’ local NBC affiliate stations.”

Annual report 2025A · The company itself

“International Networks We operate a diversified portfolio of international television networks, including premium sports networks under the Sky Sports brand in the United Kingdom and Italy, with a majority of networks dedicated to a specific sport, such as European football.”

Annual report 2025A · The company itself

“Studios Segment Our Studios segment primarily includes our NBCUniversal and Sky film and television studio production and distribution operations. Our studio production facilities primarily include our owned Universal City location in Los Angeles, California and our leased studios in Atlanta, Georgia and in Elstree, United Kingdom. Revenue is generated primarily from the worldwide licensing of our owned film and television content and from the worldwide distribution of our produced and acquired films for exhibition in movie theaters.”

Annual report 2025A · The company itself

“Revenue is primarily generated from the sale of advertising and from the distribution of our television and streaming programming.”

Annual report 2025A · The company itself

“We also generate revenue from the sale of physical and digital home entertainment products, as well as from the production and licensing of live stage plays and from the distribution of content produced by third parties.”

Annual report 2025A · The company itself

“Because we derive substantial revenue from the sale of advertising, a decline in expenditures by advertisers, including through traditional linear television distribution models or on Peacock, could negatively impact our results of operations.”

Annual report 2025A · The company itself

“•Our wireless and voice services compete with both telecommunications and wireless telecommunication providers. •Competition for video services consists primarily of DTC streaming service providers and aggregators, DBS providers and telecommunications companies. •Business Services Connectivity primarily competes with wireline telecommunications companies and wide area network managed service providers. •Our businesses in Content & Experiences, as well as our video business, face substantial and increasing competition from providers of similar types of entertainment, sports, news and information content, as well as from other forms of entertainment, including from social networking and user-generated content or technologies such as AI that can rapidly produce large volumes of content, as well as tourism, recreational activities and lodging.”

Annual report 2025A · The company itself

“In addition, certain programmers have begun offering a greater amount of their content on a direct-to-consumer basis, including, but not limited to, exclusive and non-exclusive content. As a result, it may be more difficult for us to obtain access to such programming networks on nondiscriminatory and fair terms, or at all.”

Annual report 2025A · The company itself

“These factors may be exacerbated by, among other factors, the increasing trend of consolidation in the media industry, partnerships between companies that offer pay-TV services and programmers and increased direct-to-consumer offerings of both exclusive and non-exclusive content, which may further increase our programming expenses.”

Annual report 2025A · The company itself

“Negotiations over programming carriage contracts are generally contentious, and certain programmers have, in the past, limited our access to their programming in connection with those negotiations and the scheduled expiration of their programming carriage contracts with us. In recent years, our net Pay-TV subscriber additions have been negatively impacted as a result of programming interruptions and threatened programming interruptions in connection with the scheduled expiration of programming carriage contracts with content providers.”

Annual report 2025A · The company itself

“In addition, certain content providers have begun making a greater percentage of their content available as a stand-alone product available direct-to-consumer and acceleration of this trend may result in lower net Pay-TV subscriber additions, higher net Pay-TV subscriber losses and increased DISH TV churn rate.”

Annual report 2025A · The company itself

“Furthermore, our digital content offerings depend in part on effective digital rights management technology to control access to digital content. If the digital rights management technology that we use is compromised or otherwise malfunctions, content providers may be unwilling to provide access to their content. Changes in the copyright laws or how such laws may be interpreted could impact our ability to deliver content and provide certain features and functionality, particularly over the Internet.”

Annual report 2025A · The company itself

“The Copyright Act generally gives satellite companies a statutory copyright license to retransmit local broadcast channels by satellite back into the market from which they originated, subject to obtaining the retransmission consent of local network stations that do not elect “must carry” status, as required by the Communications Act. If we fail to reach retransmission consent agreements with such broadcasters, we cannot carry their signals.”

Annual report 2025A · The company itself

“In recent years, the rates we are charged for retransmitting local channels have been increasing substantially and may exceed our ability to increase our prices to our customers, which could have a material adverse effect on our business, financial condition and results of operations. The broadcast stations’ demands for higher rates have resulted in more frequent negotiating impasses and programming interruptions.”

Annual report 2025A · The company itself

“We purchase a large percentage of our programming from cable-affiliated programmers. We may be limited in our ability to obtain access on nondiscriminatory terms, or at all, to programming from programmers that are affiliated with cable system operators.”

Annual report 2025A · The company itself

“The cost of programming represents the largest percentage of our overall Pay-TV costs. Certain of our competitors own directly, partner with and/or are affiliated with companies that own programming content that may enable them to obtain lower programming costs or offer exclusive programming that may be attractive to prospective or existing subscribers.”

Annual report 2025A · The company itself

“We depend on certain third parties to provide us with programming services. Our programming agreements have remaining terms ranging from less than one to up to several years and contain various renewal, expiration and/or termination provisions. We may not be able to renew these agreements on acceptable terms or at all, and these agreements may be terminated prior to expiration of their original terms.”

Annual report 2025A · The company itself

“Unlike our larger cable and satellite competitors, some of which also provide internet or broadband based pay-TV services, we have not made significant investments in programming providers.”

Annual report 2025A · The company itself

“The SLING branded pay-TV services consist of, among other things, multichannel, live-linear and on-demand streaming over-the-top (“OTT”) Internet-based domestic, international, Latino and Freestream video programming services (“SLING TV”).”

Annual report 2025A · The company itself

“We believe that the availability and extent of programming, including, but not limited to, unique programming services such as foreign language, sports programming and original content, and other value-added services such as access to video via mobile devices, continue to be significant factors in consumers’ choice among pay-TV providers.”

Annual report 2025A · The company itself

“Our Pay-TV service margins have been reduced by, among other things, higher programming costs.”

Annual report 2025A · The company itself

“If those artists do not choose to tour, or if we are unable to secure the rights to their future tours, then our concerts business would be adversely affected.”

Annual report 2025A · The company itself

“Our People and Culture Bringing approximately 55,000 events to life and connecting over 805 million fans across all of our concerts and ticketing platforms, as we did in 2025, is a massive undertaking, made possible by our thousands of employees spread across 51 countries.”

Annual report 2025A · The company itself

“En av de stora drivkrafterna inom medieindustrin är livesändning av sport, vilket utgör vår kärnaffär.”

Annual report 2024A · The company itself

“Teknikutvecklingen gör det nu möjligt att öka tillgängligheten och skapa värde genom livesändning av fler och mindre evenemang, vilket ger förutsättningar att nå bredare målgrupper. Till exempel blir globala sportevenemang som Formel 1 och NFL mer tillgängliga för internationella publikgrupper, med lopp och matcher som arrangeras på nya marknader, där exempelvis NFL-matcher spelas i London och München.”

Annual report 2024A · The company itself

“Tillväxten av icke-managerade (internet- och molnbaserade) nätverk och molnfunktioner gör det enklare för mindre evenemang och nya aktörer att etablera sig och samtidigt upprätthålla högkvalitativa produktioner. Det gör också att marknaden för medieöverföring expanderar utanför traditionella områden som sport och broadcasting.”

Annual report 2024A · The company itself

“Det snabbt föränderliga medielandskapet skapar nya intäktsmöjligheter och bolaget gynnas av strukturella tillväxtdrivare som ökad efterfrågan på kapacitet och övergången till IPstandardiserade respektive molnbaserade arbetsflöden.”

Annual report 2024A · The company itself

“Samtidigt som den globala mediemarknaden väntas växa med omkring 4 procent per år mellan 2024 och 2028 verkar Net Insight inom de mer snabbväxande segmenten IP och Cloud och erbjuder primärt lösningar för överföring av livesport.”

Annual report 2024A · The company itself

“Tillväxten inom den globala videokonsumtionen drivs av den ökande betydelsen av liveinnehåll, i synnerhet sport. Ökad efterfrågan på livesport och nya möjligheter att engagera tittare ger ett växande behov av kapacitet, skalbarhet, flexibilitet samt kostnadseffektivitet.”

Annual report 2024A · The company itself

“OTT-teknologin, det vill säga tekniken för distribution av digitalt innehåll direkt via internet istället för via traditionella distributionskanaler som kabel-TV eller satellit, MEDIA: Marknad och trender Net Insight verkar inom marknaden för överföring av livemedia. Den specifika del av marknaden där bolaget är verksamt beräknas ha uppgått till 1,5 miljarder USD globalt 2024 och prognostiseras växa med en genomsnittlig årlig tillväxttakt om 4 procent mellan 2024 och 2028, enligt Caretta Research .”

Annual report 2024A · The company itself

“Många aktörer ser nu förutsättningar att stärka tittarlojaliteten och nå bredare målgrupper med fler sporter varför bolag som Amazon Prime, Netflix och Disney i allt större utsträckning också satsar på den här typen av innehåll. Värdet av livestreaming av sportevenemang ökar, samtidigt som rättighetskostnaderna stiger.”

Annual report 2024A · The company itself

“Det driver sammantaget en växande efterfrågan för produktion och distribution, både genom lösningar med mycket hög kapacitet och genom enklare och mer kostnadseffektiva lösningar.”

Annual report 2024A · The company itself

“Marknaden för livesportstreaming väntas växa med en genomsnittliga årlig tillväxttakt om 25 procent mellan 2024 och 2031, från cirka 28 miljarder USD till nära 134 miljarder USD enligt Verified Market Research och sporträttigheterna blir allt dyrare på global basis.”

Annual report 2024A · The company itself

“I mediabranschen pågår en konsolidering som resulterar i att Net Insights faktiska och potentiella kundbas stöps om. Ett exempel på det utgörs av Tata Communications förstärkning av sin kapacitet och sitt globala distributionsnätverk genom förvärvet av The Switch. Resultatet blir att marknaden blir mer koncentrerad.”

Annual report 2024A · The company itself

“Produktlanseringar för stärkt konkurrenskraft Under året har Net Insight stärkt sin position som ledande leverantör av lösningar för överföring av livemedia genom flera produktlanseringar och funktionalitetsuppdateringar, inom både IP och Cloud. Dessa nyheter tillgodoser marknadens behov av hög kvalitet, pålitlighet samt kostnadseffektivitet.”

Annual report 2024A · The company itself

“Framöver ser jag att kombinationen av vår styrka inom lösningar för managerade nätverk, vår breddning mot lösningar för icke-managerade nätverk och vår förmåga att navigera i marknadstrender som livesport och Cloud kommer driva både tillväxt och stärkt lönsamhet.”

Annual report 2024A · The company itself

“Bolaget ser också en ökad efterfrågan på lösningar för icke-managerade nätverk och har de senaste åren arbetat med att bredda utbudet för att kunna ta marknadsandelar inom detta produktsegment. Det har skett genom produktutveckling och lansering av Nimbra 400 samt Nimbra Connect iT och Nimbra Edge liksom strategiska partnerskap.”

Annual report 2024A · The company itself

“Net Insight har en stor och växande global kundbas och lägger betydande vikt vid starka, långvariga relationer med kunder och affärspartners. På så vis kan god skalbarhet i affären uppnås och fokus ligger på att öka försäljning till såväl befintliga kunder som genom nykundsanskaffning.”

Annual report 2024A · The company itself

“Net Insight är en av de fem största aktörerna inom managerade nätverkslösningar, med en global marknadsandel på nära 4 procent.”

Annual report 2024A · The company itself

“Net Insights konkurrensfördelar ligger i stabila och pålitliga produkter för krävande livesändningar som sportevenemang.”

Annual report 2024A · The company itself

“Bolagets produktportfölj erbjuder flexibla helhetslösningar, kompletterade med en högt rankad service och support.”

Annual report 2024A · The company itself

“En stor del av Net Insights konkurrenskraft ligger i bolagets teknologi som ger fördelar inom bland annat realtidshantering av bild, säker dataöverföring och GPSoberoende tidssynkronisering.”

Annual report 2024A · The company itself

“Verksamheten gynnas av långvariga kundrelationer och stark kundlojalitet, då den installerade hårdvarubasen har lång livslängd och fungerar som en grund för merförsäljning.”

Annual report 2024A · The company itself

“Våra produkter för överföring av livemedia möjliggör en högkvalitativ, effektiv och tillförlitlig distribution av framför allt sportinnehåll, till en stor mängd tittare världen över.”

Annual report 2024A · The company itself

“Därtill har Nimbra 400-plattformen uppgraderats med fler kanaler och stöd för UHD- och HEVC-kompression. Det möjliggör kostnadseffektiv distribution av liveevenemang och sömlös integration med molnplattformen Nimbra Edge samt Nimbra Connect iT.”

Annual report 2024A · The company itself

“Nimbra Connect iT har lanserats som är en skalbar molnlösning. Den förenklar distributionen av liveinnehåll för små till medelstora evenemang genom enkel integration med befintlig infrastruktur till låga underhållskostnader.”

Annual report 2024A · The company itself

“Dessutom har den nya plattformen Nimbra 204 lanserats som en prisvärd och kompakt lösning för flexibel videodistribution via ickemanagerade nätverk och Cloud.”

Annual report 2024A · The company itself

“Historisk mjukvaruorder i USA Net Insight fick under det andra kvartalet en order från en av sina största mediekunder i USA på mjukvarulicenser till ett värde av cirka 30 miljoner kronor. Ordern är en engångsorder som innebar att mjukvara implementerades på tidigare levererad hårdvara.”

Annual report 2024A · The company itself

“Net Insight har i mer än 25 år varit ledande i utveckling och försäljning av hård- och mjukvarubaserade nätverkslösningar som TV-bolag, tjänsteleverantörer, produktionsbolag samt evenemangsarrangörer använder för effektiv överföring av livemedia.”

Annual report 2024A · The company itself

“Net Insight har två huvudsakliga intäktsströmmar: från den väletablerade och växande produktgruppen media, som står för över 90 procent av omsättningen, samt från tidsynkronisering, som utgör en nyare produktgrupp med stor tillväxtpotential.”

Annual report 2024A · The company itself

“Innovation, kompetens och förtroende Introduktion Net Insight ökar intäkterna och skalbarheten genom att dra nytta av sin växande globala kundbas samt en ökande andel mjukvaruintäkter från internettransport med molnfunktioner samt tidssynkronisering.”

Annual report 2024A · The company itself

“Net Insight tillhandahåller helhetslösningar för överföring av livemedia genom hela B2B-värdekedjan, med fokus på liveevenemang och främst sport. Bolaget utvecklar hård- och mjukvara för medieöverföring över både managerade och ickemanagerade nätverk (se förklaringar på sida 120) samt erbjuder service och support. Värdekedjan innefattar olika typer av aktörer med skiftande behov och Net Insight hjälper TVbolag, tjänsteleverantörer, produktionsbolag, evenemangsarrangörer samt bolag i andra branscher, som LinkedIn, att skapa livemedieflöden med nätverk anpassade efter deras unika behov.”

Annual report 2024A · The company itself

“Intäkterna från media stod år 2024 för 92,8 procent av koncernens omsättning.”

Annual report 2024A · The company itself

“Vårt erbjudande över B2B-värdekedjan: MEDIA: Verksamhet Introduktion Verksamhet Långvariga relationer och fokus på USA samt inom sport Net Insight har ett konkurrenskraftigt erbjudande och en ledande position inom produkter avsedda för managerade nätverk, där Nimbra 1000- och Nimbra 600-produkterna erbjuds. Inom managerade nätverk är Trust Boundary-applikationen, som säkerställer säker medieöverföring samt höghastighetsplattformen på 100Gb/s, unika i marknaden. Efterfrågan på ökad kapacitet från större kunder är stor och vid årsskiftet 2025/26 lanseras en uppgradering av Net Insights 100Gb/s-plattform till 400Gb/s vilket väntas ge bolaget ett försprång gentemot konkurrenter.”

Annual report 2024A · The company itself

“Net Insight utvecklar och tillhandahåller produkter och tjänster för att överföra livemedia, där IP och molnbaserade lösningar i allt högre grad efterfrågas. Lösningarna gör det möjligt att pålitligt och kostnadseffektivt producera och distribuera högkvalitativt medieinnehåll.”

Annual report 2024A · The company itself

“Exempelvis har Net Insight och DMC Production, i samarbete med Matchday Production, transformerat livesändningarna av Danmarks högsta fotbollsligor. Med hjälp av Nimbra-plattformen hanteras nu centraliserad produktion och VAR (eng. Video Assistant Referee, assisterande videodomare) från ett produktionscenter i Köpenhamn för över 800 matcher per år.”

Annual report 2024A · The company itself

“Vidare har Safari Solutions implementerat Net Insights nya lösning Nimbra Connect iT för global distribution av premiummaterial inom sport. Med Nimbra Connect iT kan Safari Solutions erbjuda en kostnadseffektiv och flexibel tjänst som ger kunder ökad kontroll över sina strömmar, förbättrad rättighetshantering och smidigare operativ hantering via en enhetlig plattform.”

Annual report 2024A · The company itself

“Orderavtal har också tecknats med ett amerikanskt mediabolag med ett av de största TVnätverken i USA samt ett större telekombolag i Mellanöstern.”

Annual report 2024A · The company itself

“Rörlig bild och livestreaming har blivit en central del av hur många bolag och organisationer kommunicerar och ett exempel på det är vår kund LinkedIn. Genom icke-managerade nätverk kan den här typen av aktörer producera och distribuera professionellt liveinnehåll på ett kostnadseffektivt sätt, utan att behöva investera i dyr traditionell infrastruktur.”

Annual report 2024A · The company itself

“All of these have the potential to capture meaningful segments of the entertainment video market.”

Annual report 2025A · The company itself

“As competition increases, we see the cost of certain programming increase.”

Annual report 2025A · The company itself

“Additionally, as the market for the digital distribution of content grows, a broader role for CMOs in the remuneration of authors, performers and other beneficiaries of neighboring rights is likely to expose us to greater distribution expenses in certain markets.”

Annual report 2025A · The company itself

“Music and certain authors’ performances contained within content we distribute may require us to obtain licenses for such distribution. In this regard, we engage in negotiations with collection management organizations (“CMOs”) and similar entities that hold certain rights to music and/or other interests in intellectual property (e.g., remuneration rights) in connection with streaming content into various territories. If we are unable to reach mutually acceptable terms with these organizations, we could become involved in litigation and/or could be enjoined from distributing certain content, which could adversely impact our business.”

Annual report 2025A · The company itself

“We devote significant resources toward the development, production, marketing and distribution of original programming. We believe that original and exclusive programming can help differentiate our service from other offerings, enhance our brand and otherwise attract and retain members.”

Annual report 2025A · The company itself

“(“Netflix”, the “Company”, “registrant”, “we”, or “us”) is one of the world’s leading entertainment services offering TV series, films, games and live programming across a wide variety of genres and languages.”

Annual report 2025A · The company itself

“The News Media segment’s newspapers, magazines, digital publications, radio stations, broadcast and streaming channels and podcasts generally face competition from similar sources, and compete on similar bases, as the news products within the Dow Jones segment, particularly in their respective operating geographies.”

Annual report 2026A · The company itself

“Risks Relating to the Company’s Businesses and Operations The Company Operates in a Highly Competitive Business Environment, and its Success Depends on its Ability to Compete Effectively, Including by Responding to Evolving Technologies and Changes in Consumer and Customer Behavior. The Company faces significant competition, including from other providers of information, news, real estate-related and entertainment products and services.”

Annual report 2026A · The company itself

“A Decline in Customer Advertising Expenditures or Other Adverse Changes in the Advertising Ecosystem Could Cause the Company’s Revenues and Operating Results to Decline Significantly. The Company generates substantial revenues from the sale of advertising, and declines in advertising revenues have had, and could continue to have, an adverse effect on its business, results of operations and financial condition.”

Annual report 2026A · The company itself

“Large digital platforms with extensive user data and targeting capabilities command a substantial share of the digital advertising market and are also responsible for a significant amount of traffic to the Company’s digital properties, which drives advertiser spending.”

Annual report 2026A · The company itself

“Radio Broadcasting and On-Demand Services Regulation The Company’s radio stations in the U.K. and Ireland and its streaming channel Talk are subject to the U.K.’s Communications Act 2003 and the related Broadcasting Code (together the “U.K. Broadcast and On-Demand Regulations”), which are administered by the Office of Communications (“Ofcom”), the regulatory body for broadcasting and on-demand services in the U.K. The Company is required, among other things, to obtain and maintain licenses to operate its radio stations and to comply with the content standards and other requirements of the U.K. Broadcast and On-Demand Regulations.”

Annual report 2026A · The company itself

“The Company also obtains significant data and information through contractual arrangements with content suppliers, some of which may be competitors.”

Annual report 2026A · The company itself

“The Company’s businesses rely on a combination of trademarks, trade names, copyrights, patents, domain names, trade secrets and other proprietary rights, database protection laws, as well as licenses, confidentiality agreements and other contractual arrangements, to establish, obtain and protect the intellectual property and brand names used in their businesses. The Company believes its intellectual property rights are important to its continued success and its competitive position.”

Annual report 2026A · The company itself

“The Company’s commitment to premium content makes its properties a premier destination for information, news, real estate and entertainment.”

Annual report 2026A · The company itself

“The Company distributes its content and other products and services to consumers and customers across an array of digital platforms including websites, mobile apps, social media, e-book devices and streaming audio platforms, as well as traditional platforms such as print and radio.”

Annual report 2026A · The company itself

“The Company’s diversified revenue base includes recurring subscriptions, circulation sales, advertising sales, sales of real estate listing products, licensing fees and other consumer product sales.”

Annual report 2026A · The company itself

“For the fiscal year ended June 30, 2026 Revenues Segment EBITDA (in millions) Dow Jones 2,016 741 Book Publishing 2,288 287 News Media 2,227 139 Other — (203) Dow Jones The Company’s Dow Jones segment is a global provider of news, data and business information distributed through a variety of owned and off-platform media channels, including websites, mobile apps, newspapers, newswires, newsletters, magazines, proprietary databases, live journalism, video and podcasts. This segment consists of the Dow Jones business, whose products target individual consumers and enterprise customers and include The Wall Street Journal, Barron’s, MarketWatch, Investor’s Business Daily, Dow Jones Risk & Compliance, Dow Jones Energy, Factiva and Dow Jones Newswires. The Dow Jones segment’s revenue is diversified across business-to-consumer and business-to-business subscriptions, circulation, advertising, including custom content and sponsorships, licensing fees and participation fees for its live journalism events.”

Annual report 2026A · The company itself

“News products include the following: Table of Contents •The Wall Street Journal (WSJ). WSJ, Dow Jones’s flagship news product, is available online, across multiple mobile devices and in print. WSJ covers national and international news and provides analysis, commentary, reviews and opinions on a wide range of topics, including business developments and trends, economics, financial markets, investing, politics, science and technology, lifestyle, culture, consumer products and sports. WSJ’s digital products offer both free content and premium, subscription-only content and are comprised of WSJ.com, WSJ mobile products (WSJ Mobile) and live and on-demand video through WSJ.com and other platforms (WSJ Video), as well as podcasts.”

Annual report 2026A · The company itself

“The Barron’s Group includes Barron’s and MarketWatch, among other properties. Barron’s. Barron’s, which is available to subscribers online, across multiple mobile devices and in print, delivers news, analysis, investigative reporting, company profiles and insightful statistics for investors and others interested in the investment world.”

Annual report 2026A · The company itself

“MarketWatch is an investing and financial news website targeting active investors. It also provides real-time commentary and investment tools and data. Products include mobile apps and a responsive design website, and revenue is generated through the sale of advertising, as well as its premium digital subscription service. •Investor’s Business Daily (IBD).”

Annual report 2026A · The company itself

“IBD provides investing content, analytical products and educational resources to subscribers online and in print, as well as through mobile apps and video. IBD’s services include the Investors.com website, the MarketSurge and LeaderBoard market research and analysis tools and a weekly print publication.”

Annual report 2026A · The company itself

“•The Wall Street Journal Digital Network (WSJDN). WSJDN offers advertisers the opportunity to reach Dow Jones’s audience across a number of brands, including WSJ, Barron’s, MarketWatch and IBD. •Live Journalism.”

Annual report 2026A · The company itself

“Book Publishing The Company’s Book Publishing segment consists of HarperCollins, the second largest consumer book publisher in the world based on global revenue, with operations in 15 countries. HarperCollins publishes and distributes consumer books globally through print and digital formats.”

Annual report 2026A · The company itself

“HarperCollins has a significant Christian publishing business, which includes the NIV Bible, Jesus Calling and author Max Lucado. HarperCollins’ print and digital global catalog includes more than 250,000 publications in different formats, in 16 languages, and it licenses rights for its authors’ works to be published in more than 50 languages around the world.”

Annual report 2026A · The company itself

“Table of Contents News Media The Company’s News Media segment consists primarily of News Corp Australia, News UK and the New York Post. This segment also includes News Broadcasting (formerly Wireless Group), operator of talkSPORT, the leading sports radio network in the U.K., Virgin Radio and Talk in the U.K., which are available on multiple digital streaming platforms, and Australian News Channel, which operates the News24 network (formerly Sky News Australia), Australia’s 24-hour multi-channel, multi-platform news service. The News Media segment generates revenue primarily through circulation and subscription sales of its print and digital products, sales of print and digital advertising and licensing fees.”

Annual report 2026A · The company itself

“(2)As of June 30, 2026, based on internal sources and including subscribers to the Times Literary Supplement (“TLS”). Total subscribers across The Times and The Sunday Times, including TLS, as of June 30, 2026 was 773,000, including 681,000 closing digital subscribers.”

Annual report 2026A · The company itself

“Intellectual Property The Company’s intellectual property assets include: copyrights in its digital and print newspapers, books and other content and technologies; trademarks in names and logos; trade names; domain names; proprietary databases and professionally curated information collections maintained and used in its information services and digital real estate services businesses; and licenses of intellectual property rights, including the trademark license for the Realtor.com® website address, as well as the REALTOR® trademark (the “NAR License”).”

Annual report 2026A · The company itself

“The Company derives value and revenue from its intellectual property assets through, among other things, digital and print newspaper and magazine subscriptions and sales, the sale of subscriptions to its content and information services, content licensing, the operation of websites and other digital properties and the sale, distribution and/or licensing of print and digital books.”

Annual report 2026A · The company itself

“The Company’s products and services are distributed under some of the world’s most recognizable and respected brands, including The Wall Street Journal and premier news brands in Australia and the U.K., Dow Jones, HarperCollins Publishers, realestate.com.au, Realtor.com® and many others, and the Company believes its success depends on its continued ability to maintain and enhance these brands.”

Annual report 2026A · The company itself

“For the fiscal year ended June 30, 2026, revenues at the Dow Jones segment increased $166 million, or 7%, as compared to fiscal 2025, primarily due to higher circulation and subscription and advertising revenues. Digital revenues represented 84% of total revenues at the Dow Jones segment for the fiscal year ended June 30, 2026, as compared to 82% for fiscal 2025.”

Annual report 2026A · The company itself

“Table of Contents The following table provides selected information regarding average daily subscriptions during the three months ended June 30, 2026 and 2025 for the Dow Jones segment’s subscription news products: For the three months ended June 30(a)(b), 2026 2025 Change % Change (in thousands, except %) Better/(Worse) The Wall Street Journal Digital-only subscriptions(c) 4,465 4,126 339 8 % Total subscriptions 4,827 4,538 289 6 % Barron’s Group(d) Digital-only subscriptions(c) 1,512 1,319 193 15 % Total subscriptions 1,602 1,432 170 12 % Total News Products(e) Digital-only subscriptions(c) 6,258 5,719 539 9 % Total subscriptions 6,725 6,261 464 7 % (a)Based on internal data for the periods from March 30, 2026 to June 28, 2026 and March 31, 2025 to June 29, 2025, respectively.”

Annual report 2026A · The company itself

“Advertising Revenues Advertising revenues increased $22 million, or 6%, for the fiscal year ended June 30, 2026 as compared to fiscal 2025 due to $24 million of higher digital advertising revenues driven by the technology and financial services sectors.”

Annual report 2026A · The company itself

“Book Publishing (25% of the Company’s consolidated revenues for both fiscal 2026 and 2025) For the fiscal years ended June 30, 2026 2025 Change % Change (in millions, except %) Better/(Worse) Revenues: Consumer (3) % For the fiscal year ended June 30, 2026, revenues at the Book Publishing segment increased $139 million, or 6%, as compared to fiscal 2025, which includes a $31 million impact from recent acquisitions. The increase was primarily due to higher physical book sales driven by Rachel Reid’s Game Changers series, which includes Heated Rivalry, and strength in Christian Publishing.”

Annual report 2026A · The company itself

“Digital sales increased by 4% as compared to fiscal 2025 driven by growth in e-book and audiobook sales. Digital sales represented approximately 23% of consumer revenues for the fiscal year ended June 30, 2026 as compared to 24% for fiscal 2025.”

Annual report 2026A · The company itself

“Table of Contents News Media (25% and 26% of the Company’s consolidated revenues for fiscal 2026 and 2025, respectively) For the fiscal years ended June 30, 2026 2025 Change % Change (in millions, except %) Better/(Worse) Revenues: Circulation and subscription $ 1,175 $ 1,118 $ 57 5 % Advertising 804 820 (16) (2) (9) % For the fiscal year ended June 30, 2026, revenues at the News Media segment increased $57 million, or 3%, as compared to fiscal 2025.”

Annual report 2026A · The company itself

“DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION News Corporation (together with its subsidiaries, “News Corporation,” “News Corp,” the “Company,” “we,” or “us”) is a global diversified media and information services company comprised of businesses across a range of media, including: information services and news, digital real estate services and book publishing.”

Annual report 2026A · The company itself

“FK Distribution distribuerer tryksager og, tilbuds- og lokale ugeaviser i Danmark og anvender en internationalt helt unik automatiseret”

Annual report 2025A · The company itself

“SDR er Sveriges distributør af tryksager og, tilbuds- og lokale ugeaviser”

Annual report 2025A · The company itself

“I mediebranchen fortsatte konsolideringen, og flere mediehuse revurderer i disse år markedet for trykte lokale ugeaviser, som er udfordret af faldende annoncesalg. Det medfører bl.a. faldende frekvens, færre antal sider eller lukninger.”

Annual report 2025A · The company itself

“Der var i 2025 tilgang af flere nye magasiner og direct mail-kampagner til omdeling til specifikke postkasser, hvor interessen for en given vare eller service ventes at være særlig stor. Fremgangen skyldtes delvist, at PostNord ultimo 2025 indstillede omdeling af brevpost, inkl. magasiner og direct mail.”

Annual report 2025A · The company itself

“Det relaterer sig bl.a. til en stadig lavere volumen fra lokale ugeaviser, som har svære vilkår, og til, at markedet for omdeling af brevpost, inkl. magasiner og direct mail, blev frit ultimo 2025. Det marked udgør et vækstpotentiale for det mindre produktområde ’Selekteret post’.”

Annual report 2025A · The company itself

“• Et forventet volumenfald for tryksager i niveauet 5% og for lokale ugeaviser i niveauet 15% for FK Distribution. Et forventet volumenfald fra tilbuds- og lokale ugeaviser i niveauet 6% for SDR. • Fuld automatiseret og standardiseret maskinel pakning i SDR • Øget omsætning fra nye værditilbud og ændret kundemiks i både FK og SDR. • Valutakurs SEK/DKK på 70,0 • En fortsættelse af den stabiliserede økonomiske udvikling fra 2025 og med voksende forbrugertillid til køb af forbrugsvarer og til leje af boliger. • Fortsat EBIT-forbedring i Dayli og Bekey gennem styrket markedsposition, nye værditilbud og driftsoptimering.”

Annual report 2025A · The company itself

“Markedet for gratis lokale ugeaviser består af nogle få større aktører og et lavere antal mindre, selvstændige udgivere. Efter en mindre nedgang i 2025, forventes volumen marginalt øget i 2026.”

Annual report 2025A · The company itself

“FK Distribution distribuerer tryksager og, tilbuds- og lokale ugeaviser i Danmark og anvender en internationalt helt unik automatiseret og omkostningseffektiv teknologi til pakning og distribution af individuelle sæt af tryksager til hver enkelt husstand.”

Annual report 2025A · The company itself

“FK Distribution generede med en omsætning på 744 mio. kr. et forventet fald på 2%. Udviklingen var drevet af lavere volumen af tryksager og lokale ugeaviser, som ikke kunne opvejes af en solid fremgang i det mindre produktområde ’Selekteret post’, hvor der var tilgang af både magasin- og direct mail-kunder.”

Annual report 2025A · The company itself

“SDR er Sveriges distributør af tryksager og, tilbuds- og lokale ugeaviser.”

Annual report 2025A · The company itself

“SDR leverede med en omsætning på 388 mio. kr., en stigning på 2%. Omsætningen var dels positivt påvirket af, at SDR i 1. kvartal 2025 overtog lokalsalget fra de tidligere franchisetagere, hvorefter omsætningen af de distribuerede mængder indgik i SDRs regnskab, og dels af prisstigninger på tryksager og lokale ugeaviser.”

Annual report 2025A · The company itself

“The evolution of consumer preferences toward streaming and other digital services, and the increasing number of entertainment choices available to consumers, have intensified audience fragmentation and reduced viewership through traditional linear distribution models, which has caused and may continue to cause ratings and viewership declines for our television networks.”

Annual report 2024A · The company itself

“These developments have impacted certain traditional distribution models, including ones we have historically relied upon, as demonstrated by industrywide declines in broadcast and cable ratings, declines in cable subscribers, the development of alternative distribution platforms for broadcast and cable content and reduced theatergoing. Declines in linear viewership are expected to continue and may accelerate, which could adversely affect our advertising and affiliate revenues.”

Annual report 2024A · The company itself

“Our reputation and brands may be harmed by significant negative claims or publicity regarding Paramount or its business decisions, operations, practices, content, products, social responsibility and culture, management, employees, business partners and individuals associated with the content we create or license, even if such claims are untrue.”

Annual report 2024A · The company itself

“Copyright infringement reduces the revenue we are able to generate from the legitimate sale and distribution of our content, undermines lawful distribution channels, reduces the public’s and some affiliate partners’ perceived value of our content and inhibits our ability to recoup or profit from the costs incurred to create such content.”

Annual report 2024A · The company itself

“We also acquire content and ancillary rights and pay related rights fees (including for sports and music rights), license fees, royalties and/or contingent compensation.”

Annual report 2024A · The company itself

“Our reputation and globally recognized brands are critical to our success. Our reputation depends on a number of factors, including the quality of our content, services and other offerings, the level of trust we maintain with our consumers and our ability to innovate and adapt to changing expectations.”

Annual report 2024A · The company itself

“Our success depends in part on our ability to maintain and monetize our intellectual property rights.”

Annual report 2024A · The company itself

“Risks Relating to Our Business and Industry If our streaming business is unsuccessful, our business, financial condition or results of operations could be adversely affected. Streaming is intensely competitive and capital intensive and our streaming business may not be profitable or otherwise successful. Our ability to continue to attract, engage and retain streaming subscribers and active users (together, “users”), as well as generate corresponding subscription and advertising revenues, depends on a number of factors, including our ability to consistently provide appealing and differentiated content that resonates globally, offer a quality experience for selecting and viewing that content, execute a windowing strategy that maximizes service appeal and the value of our content, successfully market our content and services, and make effective choices globally regarding whether we distribute our content and services directly through our owned-and-operated services or through third parties, including through hard bundles, MVPD bundles and channel distributors.”

Annual report 2024A · The company itself

“Our ability to continue to attract, engage and retain streaming subscribers and active users (together, “users”), as well as generate corresponding subscription and advertising revenues, depends on a number of factors, including our ability to consistently provide appealing and differentiated content that resonates globally, offer a quality experience for selecting and viewing that content, execute a windowing strategy that maximizes service appeal and the value of our content, successfully market our content and services, and make effective choices globally regarding whether we distribute our content and services directly through our owned-and-operated services or through third parties, including through hard bundles, MVPD bundles and channel distributors. Our success will require significant investments to produce original content and acquire the rights to third-party content, including sports, as well as the establishment and maintenance of key content and distribution partnerships.”

Annual report 2024A · The company itself

“We are fundamentally a content company and infringement of our content adversely affects the value of our content.”

Annual report 2024A · The company itself

“Spelindustrin är en av de största underhållningsindustrierna globalt och växer i takt med att fler och fler upptäcker glädjen med digitala spel. Enligt Sensor tower har Stillfronts adresserbara marknad, den totala marknaden för mobilspel exklusive Kina, vuxit med 5 procent under 2024.”

Annual report 2024A · The company itself

“På Stillfront har vi valt att huvudsakligen arbeta med free-to-play-spel som har en dokumenterat långsiktig lönsamhet.”

Annual report 2024A · The company itself

“Däremot har vi ett relativt begränsat antal spel som vi är beroende av, eftersom de genererar en stor del av våra intäkter. Det gör oss också beroende av att vi kontinuerligt kan utveckla och förbättra vårt utbud av spel, särskilt spel med hög popularitet.”

Annual report 2024A · The company itself

“Majoriteten av våra spel är tillgängliga gratis för spelarna och större delen av intäkterna genereras från försäljningen av virtuella föremål när spelarna gör valfria köp i spelet.”

Annual report 2024A · The company itself

“På Stillfront är vi till stor del beroende av ett fåtal utomstående appbutiker för vår försäljning, främst inom den växande sektorn för mobilapplikationer där vi särskilt förlitar oss på Google Play och App Store. Under 2024 kunde cirka 54 procent av koncernens intäkter hänföras till spel som distribuerades via utomstående appbutiker (60 procent i 2023).”

Annual report 2024A · The company itself

“Cable and broadcast television distribution constitutes a large part of our revenues. The number of subscribers and ratings of television networks and advertising revenues in general have been impacted by viewers moving to alternative media content providers, a process known as “cord cutting” and “cord shaving”.”

Annual report 2025A · The company itself

“Live sports and sports entertainment remain important for both traditional linear platform providers as well as streamers and technology entrants. As a result, the value of media rights for unique assets, such as UFC and WWE, have appreciated consistently.”

Annual report 2025A · The company itself

“Table of Contents Growth Vectors We believe TKO is well-positioned to benefit from secular tailwinds in both sports and entertainment. Live sports and sports entertainment remain important for both traditional linear platform providers as well as streamers and technology entrants.”

Annual report 2025A · The company itself

“TKO's businesses include UFC, the world’s premier mixed martial arts (“MMA”) organization; WWE, the global leader in sports entertainment; Professional Bull Riders (“PBR”), the world’s premier bull riding organization; and its joint venture Zuffa Boxing, a professional boxing promotion.”

Annual report 2025A · The company itself

“We license our media rights under long-term contracts to leading distributors globally. The contractual, recurring nature of our revenue base provides our business with good visibility into revenue growth, which supports further investment in our products and adjacent content reinforcing the value of our properties to our fans and partners.”

Annual report 2025A · The company itself

“DESCRIPTION OF BUSINESS TKO Group Holdings, Inc. (the "Company" or "TKO") is a premium sports and entertainment company that operates leading combat sports and sports entertainment brands. The Company monetizes its media and content properties through four principal activities: (i) Media rights, production and content, (ii) Live events and hospitality, (iii) Partnerships and marketing and (iv) Consumer products licensing.”

Annual report 2025A · The company itself

“REVENUE The Company derives its revenue principally from the following sources: (i) media rights and content fees associated with the distribution of content, (ii) ticket sales at live events and site fees, (iii) partnerships and marketing sales, and (iv) consumer products licensing.”

Annual report 2025A · The company itself

“For the years ended December 31, 2025, 2024 and 2023, the Company recognized revenue of $16.2 million, $22.2 million and $21.0 million, and incurred direct operating costs of $0.2 million, $1.0 million and $0.3 million, respectively, for a management fee to compensate it for representation and technical services it provides to Euroleague in relation to the distribution of media rights as well as production services.”

Annual report 2025A · The company itself

“Across our portfolio, we have agreements with leading distributors, including Paramount, Disney’s ESPN, Netflix, Versant, the CW, Rogers Sportsnet, WBDSports, and DAZN, among others, enabling our content to reach audiences around the globe.”

Annual report 2025A · The company itself

“Video games and toys are among the largest components of our licensing programs. UFC has multi-year licensing agreements with EA Sports to produce and sell UFC-branded console video games and with Fanatics to produce and sell event merchandise.”

Annual report 2025A · The company itself

“The Company’s accounts receivable are typically unsecured and a significant portion relates to trade receivables for events from various distributors, who collect and remit payments to the Company from individual operators as well as large broadcast and cable television and streaming networks with whom the Company licenses content.”

Annual report 2025A · The company itself

“We believe that the convergence of several trends in the advertising industry are driving the rise of programmatic advertising and will result in it becoming the predominant method for advertisers to reach consumers: Rapid Growth of CTV. We are witnessing a generational shift from linear television to connected television (“CTV”) as Internet and television programming converge. New technologies support seamless delivery of streaming video content, accelerating consumers’ demand to watch what they want, when they want and where they want. We believe that this increased demand for CTV will bring about new opportunities for content owners and advertisers to connect with consumers, including through ad-supported subscription models, and will further drive the shift towards data-driven advertising.”

Annual report 2025A · The company itself

“We must maintain a consistent supply of quality ad inventory that is attractive to our clients. Our success depends on our ability to secure quality inventory on reasonable terms across a broad range of advertising networks and exchanges and social media platforms, including CTV and other video, mobile, display and audio inventory.”

Annual report 2025A · The company itself

“Television is the largest category of advertising spend, and we believe that the future of television is CTV, the streaming of media and video on demand through subscription and ad-supported streaming services. We plan to continue investing significant resources in technology, sales and support staff related to our CTV growth initiatives.”

Annual report 2025A · The company itself

“Historically, our clients have predominantly used our platform to purchase CTV and other video, mobile and display advertising inventory. In particular, the CTV market is quickly evolving and the demand for CTV inventory on our platform has been a significant driver of growth.”

Annual report 2025A · The company itself

“We also believe that our revenue growth may depend on our ability to expand within our channels, especially CTV, and we have been, and are continuing to, enhance such channels. Any decrease in the use of video, mobile and display advertising, whether due to clients losing confidence in the value or effectiveness of such channels, regulatory restrictions, consumer choices, or other causes, or any inability to further penetrate certain channels including CTV, or enter new and emerging advertising channels, could harm our growth prospects, financial condition and results of operations.”

Annual report 2025A · The company itself

“Our client base consists primarily of advertising agencies and advertisers. We do not have exclusive relationships with advertising agencies or advertisers, and we depend on agencies to work with us to build and maintain advertiser relationships and execute advertising campaigns.”

Annual report 2025A · The company itself

“In video, the business continues to face ongoing pressure as observed throughout the linear television market. We have experienced continuing access line and DSL losses as customers have switched to alternative technologies such as wireless, VoIP, and cable for voice and data services, and we expect this trend to continue.”

Annual report 2025A · The company itself

“Under 2024 kom majoriteten av Viaplay Groups reklamintäkter från TV- och radioreklam. För att diversifiera intäktsbasen satsar vi på att snabbt expandera vårt digitala reklamlager, vilket växte med 41% under året.”

Annual report 2024A · The company itself

“Koncernens reklamförsäljning minskade med 1% på organisk basis då tillväxten inom radio och digital försäljning motverkades av en strukturell nedgång inom linjär TV under året. TV-reklammarknaden uppskattas ha minskat på samtliga marknader medan både radio- och digital-reklammarknaderna uppskattas att ha vuxit.”

Annual report 2024A · The company itself

“Samtidigt ingår Viaplay Group vanligtvis fleråriga åtaganden med innehållsleverantörer och ägare av sporträttigheter som inte är knutna till kundernas användning eller storleken på Viaplay Groups abonnentbas. Det finns en risk att detta påverkar Viaplay Groups lönsamhet negativt.”

Annual report 2024A · The company itself

“För att maximera värdet av vår omfattande innehållsportfölj söker vi aktivt möjligheter till sublicensiering på flera marknader. Det gör att vi kan skapa ytterligare intäktsströmmar samtidigt som vi utökar räckvidden för Viaplay Group engagerar publiken med relevant underhållning som distribueras över flera plattformar.”

Annual report 2024A · The company itself

“Vi inledde samarbeten med tv-bolag och plattformar för att dela innehåll – allt med målet att skapa långsiktigt hållbart värde, maximera avkastningen på våra investeringar och utöka vår räckvidd. Denna samarbetsstrategi gentemot både distributionspartners och innehållsleverantörer är avgörande för att bygga långsiktiga relationer som genererar värde för alla intressenter.”

Annual report 2024A · The company itself

“Vi främjar social inkludering genom att öka tillgängligheten till vårt innehåll via undertexter, syntolkning, teckenspråk och uppläst text, samtidigt som vi kontinuerligt lyssnar på våra kunder för att förbättra vårt tjänste utbud.”

Annual report 2024A · The company itself

“Viaplay Groups streamingtjänst Viaplay är en bred videounderhållningstjänst som levereras på en teknisk plattform som är utformad för att tillhandahålla relevanta och uppskattade tittarupplevelser. Viaplay är tillgänglig i alla nordiska länder samt i Nederländerna och Polen, och innehållskonceptet Viaplay Select har lagts till på partnerplattformar runt om i världen. Varje dag underhålls miljontals abonnenter genom Viaplays innehållsutbud, vilket inkluderar TV-serier, filmer, dokumentärer, barnprogram och ett brett utbud av direktsänd premiumsport.”

Annual report 2024A · The company itself

“Utöver streamingtjänsten Viaplay, innehar Viaplay Group sändningsrättigheter, licenser och sändningstillstånd för sina TV- och radiosändningsverksamheter. TV- och radiosändningsverksamheten består av kommersiella TV-kanaler i Danmark, Norge och Sverige, betal-TV-kanaler i Danmark, Norge, Sverige och Finland samt kommersiella radiostationer i Sverige och Norge.”

Annual report 2024A · The company itself

“Hollywoods stjärnglans är oförminskad. Våra avtal med ledande amerikanska filmbolag gör det möjligt för oss att erbjuda våra tittare en varierad och attraktiv mix av serier och filmer.”

Annual report 2024A · The company itself

“Samtidigt erbjuder vi ett starkt utbud av lokalt innehåll, som vi vet uppskattas av publiken och som är både kostnadseffektivt och kommersiellt gångbart.”

Annual report 2024A · The company itself

“Sublicensiering och övrig försäljning, som främst består av sublicensiering av sport- och icke-sportinnehåll till tredje part samt försäljning inom Viaplay Studios under föregående år, ökade på organisk basis med 72% och stod för 8% av segmentets nettoomsättning. Tillväxten drevs främst av effekten av nya partneravtal.”

Annual report 2024A · The company itself

“Försäljningen inom Linjära kanalabonnemang, som består av avgifter från distributörer för att inkludera koncernens linjära kanaler i sina TV-paket, växte organiskt med 5% och stod för 27% av segmentets nettoomsättning. Tillväxten drevs främst av prishöjningar och nya avtal.”

Annual report 2024A · The company itself

“Koncernens digitala reklamlager ökade med 41% och påverkades positivt av den pan-nordiska lanseringen av Viaplays HVOD-abonnemangstjänst, som inkluderar reklam.”

Annual report 2024A · The company itself

“Viaplay Group säljer TV-reklam i framförallt Sverige, Norge och Danmark. Koncernen har dessutom flera partners som distribuerar dess innehåll.”

Annual report 2024A · The company itself

“Increased competitive pressures impact our revenues, increase our costs and impact our results of operations.”

Annual report 2025A · The company itself

“For example, our advertising revenue is negatively impacted by the increased supply of advertising tools and platforms on which to place advertising, including search, social media, online marketplaces and other ad-supported DTC services, which depresses advertising rates across our DTC streaming services and linear networks and creates demand uncertainty.”

Annual report 2025A · The company itself

“As these contracts expire, we renew or renegotiate the contracts, which from time to time has led to service blackouts when distribution contracts expired before renewal terms were agreed.”

Annual report 2025A · The company itself

“Significant negative claims or publicity regarding the Company or its operations, products, management, employees, practices, business partners, business decisions, social responsibility and culture, which may be amplified by social media, adversely impact our brands or reputation, even if such claims are untrue.”

Annual report 2025A · The company itself

“In addition, licensing revenues fluctuate with the timing and performance of our theatrical releases and cable programming broadcasts.”

Annual report 2025A · The company itself

“•Revenues from television networks and stations are subject to seasonal and other cyclical advertising patterns and changes in viewership levels, including related to certain sporting events.”

Annual report 2025A · The company itself

“In general, domestic general entertainment linear networks advertising revenues are typically somewhat higher during the fall and somewhat lower during the summer months, domestic advertising revenues are typically higher during election cycles and sports advertising revenues are impacted by the timing of sports seasons and events, which varies throughout the year and/or take place periodically. •Revenues from content sales/licensing fluctuate due to the timing of content releases across various distribution markets.”

Annual report 2025A · The company itself

“•DTC revenues fluctuate based on changes in the number of subscribers, mix of subscribers to different offerings and subscriber fees; viewership levels; and the demand for sports and film and television content. Each of these is sensitive to the availability of content, which varies from time to time throughout the year based on, among other things, sports seasons, content production schedules and sports league work stoppages.”

Annual report 2025A · The company itself

“ENTERTAINMENT The Entertainment segment generally encompasses the Company’s non-sports focused global film and episodic content production and distribution activities. The lines of business within Entertainment along with their significant business activities include the following: •Linear Networks ◦Domestic: ABC Television Network (ABC Network); Disney, Freeform, FX and National Geographic (owned 73% by the Company) branded television channels; and eight owned ABC television stations ◦International: Disney, FX and National Geographic (owned 73% by the Company) branded television channels ◦A 50% equity investment in A+E Global Media (formerly A+E Television Networks) (A+E), which develops and distributes content globally •Direct-to-Consumer ◦Disney+: a global direct-to-consumer (DTC) service that primarily offers general entertainment and family programming.”

Annual report 2025A · The company itself

“TABLE OF CONTENTS Disney+ Disney+ offers general entertainment and family programming from the Company’s various studios, including library titles, as well as programming licensed from third parties. Disney, Pixar, Marvel, Star Wars and National Geographic branded programming are all top-level selections or “tiles” within the Disney+ interface.”

Annual report 2025A · The company itself

“The success of our businesses depends on our ability to consistently produce compelling creative content, which may be distributed, among other ways, through DTC services, linear networks and theaters and used in theme park attractions, hotels and other resort facilities and travel experiences and consumer products.”

Annual report 2025A · The company itself

“•Our linear networks, television stations and DTC services compete for the sale of advertising time with traditional and new media platforms, including other television and video-on-demand services and various forms of internet and mobile delivered platforms and content, which offer advertising delivery technologies that are more targeted than can be achieved through traditional means, as well as with other forms of advertising. •Our linear networks compete for carriage of their programming with other programming providers. •Our theme parks, resorts and experiences compete for guests with other theme parks and resorts, all other forms of entertainment, lodging, tourism and recreation activities and compete for technology, creative, performing and business talent, including with other theme park and resort operators. •Our content sales/licensing operations, including theatrical releases, compete for customers with all other forms of entertainment.”

Annual report 2025A · The company itself

“Entertainment also includes the following activities that are reported with Content Sales/Licensing: •National Geographic magazine and online business (owned 73% by the Company) •A 30% ownership interest in Tata Play Limited, which operates a direct-to-home satellite distribution platform in India The revenues of Entertainment are as follows: •Subscription fees - Fees charged to customers/subscribers for our DTC streaming services, including fees charged to multi-channel video programming distributors (i.e. cable, satellite and telecommunications providers and vMVPDs) (MVPDs) and other distributors •Advertising - Sales of advertising time/space •Affiliate fees - Fees charged to MVPDs for the right to deliver our programming to their customers.”

Annual report 2025A · The company itself

“These characteristics have made PFAS substances critical to the manufacture of a wide range of products, including electronic devices such as cell phones, tablets, and semi-conductors.”

Annual report 2025A · The company itself

“5th Planet Games A/S creates strategic partnerships with global IP holders to create unique opportunities for game content creation by our outstanding development partners worldwide and secures co-publishing and/or co-financing status in games across all platforms.”

Annual report 2025A · The company itself

“With a strong and growing portfolio of titles and, since 2021, a partnership with Skybound Entertainment, 5th Planet Games A/S now has access to proven IP including The Walking Dead and Invincible.”

Annual report 2025A · The company itself

“Looking slightly further ahead in 2026, we will see the release of the new game in The Walking Dead universe, a game that we signed a co-financing deal for in the Autumn of 2024. After such a tumultuous period, the video games market (and players) are seeking a degree of certainty when making their buying decisions, and that’s why co-financing games based on established, proven, global IP is so important.”

Annual report 2025A · The company itself

“2026 is a pivotal year for the business and one in which we expect to see considerable growth; this growth will be increasingly driven by high profile, proven, global entertainment brands, Invincible and The Walking Dead as 5th Planet Games A/S is a co-financing partner in new video games for both franchises. 5th Planet Games A/S will not only have a significant interest in the overall global publishing activity of the new Invincible and The Walking Dead video games but will also have a further interest in the physical distribution of the games and associated merchandise because of new distribution partnership agreements made in 2025.”

Annual report 2025A · The company itself

“• The physical and digital distribution of video games and associated merchandise including limited editions and collectors editions. • Strategic investments in companies that are ‘sector adjacent’ to 5th Planets core business for example TV and Film production. • The board of directors strives to operate the business in a manner that supports our broader corporate social responsibilities that are detailed here Social responsibility As a globally operating company, 5th Planet Games A/S values diversity and treats all employees equally.”

Annual report 2025A · The company itself

“Reportable Segments Manufacturing Sites Medical Devices 33 Diagnostic Products 21 Established Pharmaceutical Products 22 Nutritional Products 13 Worldwide Total 89 Abbott’s research and development facilities in the United States are primarily located in California, Illinois, Minnesota, New Jersey, and Ohio.”

Annual report 2025A · The company itself

“We have been subject to media coverage regarding our provision of these services as well as litigation related to the provision of these services, which may result in adverse judgments or settlements or government inquiries and investigations.”

Annual report 2025A · The company itself

“Creative & Marketing Professionals Adobe Creative Cloud Pro Adobe Creative Cloud Pro is a cloud-based subscription to an ecosystem of apps that enables creative professionals and enthusiasts alike to express themselves and collaborate with apps and services for photography, design, video, social media, and more that connect across surfaces, platforms and geographies. Subscribers have access to cloud storage to easily sync, access, collaborate and share their work, files and assets.”

Annual report 2025A · The company itself

“Adobe Illustrator Adobe Illustrator is our industry-standard vector graphics app used worldwide by designers of all types who want to create digital graphics and illustrations for all kinds of media—print, web, interactive, video and mobile—from web and mobile graphics to product packaging to book illustrations and billboards.”

Annual report 2025A · The company itself

“Adobe Premiere Pro Adobe Premiere Pro is a nonlinear video editing app used by filmmakers, TV editors, YouTubers and videographers.”

Annual report 2025A · The company itself

“Adobe After Effects Adobe After Effects is our industry-standard motion graphics and visual effects app used by a wide variety of animators, designers and compositors to create cinematic movie titles, add effects and create animations.”

Annual report 2025A · The company itself

“Adobe Stock Adobe Stock provides designers and businesses with access to millions of high-quality, curated, royalty-free photos, vectors, illustrations, videos, templates, audio and 3D assets, for all their creative projects.”

Annual report 2025A · The company itself

“Segment Information Total revenue by reportable segment for fiscal 2025, 2024 and 2023 were as follows: (dollars in millions) 2025 2024 2023 % Change 2025-2024 Digital Media $ 17,649 $ 15,864 $ 14,216 11 % % Percentage of total revenue 74 % % 74 % % 73 % % Digital Experience 5,864 5,366 4,893 9 % % Percentage of total revenue 25 % % 25 % % 25 % % Publishing and Advertising 256 275 300 (7)% % Percentage of total revenue 1 % % 1 % % 2 % % Total revenue $ 23,769 $ 21,505 $ 19,409 11 % % Revenue from Digital Media increased $1.79 billion and revenue from Digital Experience increased $498 million during fiscal 2025 as compared to fiscal 2024.”

Annual report 2025A · The company itself

“Our GPUs, including discrete GPUs and semi-custom SoCs, are combined with software to power immersive gaming experiences across PCs, game consoles and cloud gaming services.”

Annual report 2025A · The company itself

“Our AMD Radeon RX discrete GPU processors for PCs power the latest gaming and creation platforms. In 2025, we released our Radeon RX 9000 Series graphics cards, based on a new AMD RDNA™ 4 architecture, designed for increased AI performance, new levels of ray tracing capabilities and enhanced performance per watt to deliver new levels of performance for gamers and creators.”

Annual report 2025A · The company itself

“AMD semi-custom SoC products power the Sony PlayStation® 5, the Microsoft® Xbox Series S™ and X™ game consoles, as well as the recently revealed Valve Steam Machine PC.”

Annual report 2025A · The company itself

“The success of our semi-custom SoC products in our Client and Gaming segment is dependent on securing customers for our semi-custom design pipeline and consumer market conditions, including the success of game console systems and next generation consoles for Sony and Microsoft.”

Annual report 2025A · The company itself

“Importantly, most new client wins were concentrated within both Agillic’s strategic verticals (retail, financial services, media and subscription, and NGOs and charities) and the Nordics where our value and industry expertise resonate most strongly.”

Annual report 2025A · The company itself

“Revenue Revenue by solution category during the periods presented was as follows (in thousands): For the Years Ended December 31, For the Years Ended December 31, 2025 2024 % Change % Change at Constant Currency 2024 2023 % Change % Change at Constant Currency Security $ 2,243,404 $ 2,042,661 10 % 9 % $ 2,042,661 $ 1,765,267 16 % 16 % Delivery 1,256,721 1,318,131 (5) (5) 1,318,131 1,542,434 (15) (14) Cloud computing 708,050 630,376 12 12 630,376 504,219 25 25 Total revenue The increases in our revenue in 2025 as compared to 2024, and 2024 as compared to 2023, were primarily the result of continued growth in sales of our security and cloud computing solutions, partially offset by a decline in revenue from our delivery solutions due to downward pricing of renewals.”

Annual report 2025A · The company itself

“In particular, customers in verticals such as media and gaming have optimized their traffic to manage through underlying business challenges at a time of global macroeconomic and geopolitical headwinds. Some of our customers' businesses have been impacted by these headwinds, and as a result, they may continue to reduce their spending or optimize their traffic, which would reduce traffic on our network and revenue.”

Annual report 2025A · The company itself

“Additionally, we believe macroeconomic headwinds are causing some customers to increase their focus on cost optimization, which negatively impacted traffic on our network and had a negative impact on delivery revenue. In 2024, these headwinds caused a large social media customer to increase their focus on cost optimization and "do-it-yourself" solutions, which additionally reduced traffic on our network.”

Annual report 2025A · The company itself

“End market products that benefit from our fire safety technology include plastic enclosures for consumer electronics, printed circuit boards, wire and cable products, electrical connectors, textiles and foam insulation.”

Annual report 2025A · The company itself

“•Patient Demand. Our goal is to make the Invisalign brand a highly recognized name brand worldwide by creating awareness for Invisalign treatment among consumers and motivating the potential 600 million patients who can benefit from treatment of malocclusion to seek treatment using the Invisalign System. We accomplish this through an integrated consumer marketing strategy that includes television, media, social networking and event marketing and strategic alliances with professional sports teams, as well as educating patients on treatment options and directing them to high volume Invisalign trained doctors.”

Annual report 2025A · The company itself

“We depend on our marketing activities to deepen our market penetration and raise awareness of our brands, products, and services, which may prove unsuccessful or may become less effective or more costly to maintain in the long term. Our marketing efforts and costs are significant and include national and regional campaigns in multiple countries involving television, film, print, social media and alliances with professional sports teams, athletes, social media influencers and other strategic partners.”

Annual report 2025A · The company itself

“Den 11 juni förvärvade Alligo 70 procent av aktierna i produktmediaföretaget New Promotion Sverige AB. Bolaget och dess dotterbolag, New Profile Skövde AB, har verksamhet i Lidköping och Skövde. Tillsammans omsätter bolagen cirka 44 MSEK och har sex anställda.”

Annual report 2024A · The company itself

“Allstate at a Glance We empower customers with protection to help them achieve their hopes and dreams We provide affordable, simple and connected protection solutions We create opportunity for our team, economic value for our shareholders and improve communities 211 million policies in force (“PIF”) 53,000 employees 3rd largest personal property and casualty insurer in the United States (1) $83.24 billion investment portfolio What we do •Auto, homeowners and other personal lines insurance •Consumer product protection plans •Select commercial property and casualty coverages •Automotive protection and insurance products •Investment portfolio management •Roadside assistance •Identity protection •Mobility intelligence services and analytic solutions using automotive telematics information •Individual health insurance (1) Based on 2024 statutory direct premiums written according to A.M.”

Annual report 2025A · The company itself

“YouTube provides people with entertainment, information, and opportunities to learn something new and helps support the creator economy through the YouTube Partner Program.”

Annual report 2025A · The company itself

“Google Services generates revenues primarily by delivering both performance and brand advertising that appears on Google Search & other properties, YouTube, and Google Network partners' properties ("Google Network properties").”

Annual report 2025A · The company itself

“Digital Video and Music Content We obtain video content, inclusive of episodic television and movies, and music content for customers through licensing agreements that have a wide range of licensing provisions including both fixed and variable payment schedules. When the license fee for a specific video or music title is determinable or reasonably estimable and the content is available to us, we recognize an asset and a corresponding liability for the amounts owed.”

Annual report 2025A · The company itself

“Content Creators We offer programs that allow authors, independent publishers, musicians, filmmakers, Twitch streamers, skill and app developers, and others to publish and sell content.”

Annual report 2025A · The company itself

“Other - Other revenue includes sales related to various other offerings, such as healthcare services, certain licensing and distribution of video content, and shipping services, and our co-branded credit card agreements.”

Annual report 2025A · The company itself

“We compete, both for new business and for the acquisition of assets, with other public tower companies, such as Crown Castle International Corp., SBA Communications Corporation, Vertical Bridge, Telesites S.A.B. de C.V. and Cellnex Telecom, S.A., wireless carrier tower consortia and private tower companies, private equity sponsored firms, carrier-affiliated tower companies, independent wireless carriers, tower owners, broadcasters and owners of non-communications sites, including rooftops, utility towers, water towers and other alternative structures.”

Annual report 2025A · The company itself

“The licensing or other distribution arrangements for this content can be for relatively short time periods and do not guarantee the continuation or renewal of these arrangements on commercially reasonable terms, or at all. Some third-party content providers and distributors currently or in the future may offer competing products and services, and can take actions to make it difficult or impossible for the Company to license or otherwise distribute their content. Other content owners, providers or distributors may seek to limit the Company’s access to, or increase the cost of, such content.”

Annual report 2025A · The company itself

“Failure to obtain or create digital content that appeals to the Company’s customers, or to make such content available on commercially reasonable terms, could have a material adverse impact on the Company’s business, results of operations and financial condition. The Company contracts with numerous third parties to offer their digital content to customers. This includes the right to sell, or offer subscriptions to, third-party content, as well as the right to incorporate specific content into the Company’s own services.”

Annual report 2025A · The company itself

“The Company also produces its own digital content, which can be costly to produce due to intense and increasing competition for talent, content and subscribers, and may fail to appeal to the Company’s customers.”

Annual report 2025A · The company itself

“Home includes Apple TV 4K®, the Company’s media streaming and gaming device based on its tvOS® operating system, and HomePod® and HomePod mini®, high-fidelity wireless smart speakers.”

Annual report 2025A · The company itself

“Services Advertising The Company’s advertising services include third-party licensing arrangements and the Company’s own advertising platforms.”

Annual report 2025A · The company itself

“Digital Content The Company operates various platforms, including the App Store®, that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts.”

Annual report 2025A · The company itself

“The Company also offers digital content through subscription-based services, including Apple Arcade®, a game service; Apple Fitness+®, a personalized fitness service; Apple Music®, which offers users a curated listening experience with on-demand radio stations; Apple News+®, a news and magazine service; and Apple TV®, which offers exclusive original content and live sports.”

Annual report 2025A · The company itself

“We continue to promote our mission of Sustainable Profitable Growth by being relevant and top of mind, meeting consumers at the point of sale, and engaging consumers with social media and education. We have found that such methods have been successful in achieving consumer engagement above benchmark levels.”

Annual report 2024A · The company itself

“Media and Entertainment (“M&E”) •Flow Production Tracking Flow Production Tracking is cloud-based production management software for the M&E industry. Creative companies use the Flow Production Tracking platform to provide essential tool collaboration, review, scheduling and tracking to producers, production managers, artists and supervisors, who often work globally with distributed teams. •Maya Maya software provides 3D modeling, animation, effects, rendering, and compositing solutions that enable film and video artists, game developers, and design visualization professionals to digitally create engaging, lifelike images, realistic animations and simulations, extraordinary visual effects, and full-length animated feature films.”

Annual report 2026A · The company itself

“Our digital media and entertainment products provide tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, 3D animation, games production, and enable connection of workflows and data from pre-production to post-production.”

Annual report 2026A · The company itself

“IT, media, underhållning, 8% (8) Medlemsorganisationer, föreningar 6% (6) Handel, 7% (7) Transport/logistik, 7% (6) Telekom, 4% (4) Övrigt, 7% (9) Myndighet, kommun, 16% (13) INTÄKTER PER BRANSCH 2024 Några av B3s kunder Almi, Arbetsförmedlingen, Bliwa, Epiroc, FAR, Filmstaden, Försäkringskassan, Handelsbanken, Hyresgästföreningen, Inera, Jordbruksverket, Lantmäteriet, Länsförsäkringar, Sveriges Lärare, Parks and Resorts, Polismyndigheten, Preem, Region Skåne, Region Stockholm, Sandvik, SEB, SGDS-gruppen, SJ, Skandia, Skatteverket, Skolverket, SMHI, Stena, Sundsvalls kommun, Sveaskog, Svenska kyrkan, Svenskt Näringsliv, SVT, Swedbank, Telenor, Telia, Trafik förvaltningen (SL), Trafikverket, Transportstyrelsen, Valmyndigheten, Vattenfall, Volvo, Västra Götalandsregionen.”

Annual report 2024A · The company itself

“Brand equity and cultural gravity Our ambition is to build a culturally relevant brand that resonates with clients through meaning, desirability, and relevance, anchored in Beautiful Sound. Marketing investments are managed with discipline and aligned with our brand positioning, ensuring consistency and impact across all touchpoints, backed by data and analytics in decision-making. This supports strong brand salience, being recognisable, relevant, and trusted.”

Annual report 2026A · The company itself

“Within cultural partnerships, we are rebalancing our efforts towards music in line with our ambition to deliver Beautiful Sound and strengthen our heritage and brand distinctiveness.”

Annual report 2026A · The company itself

“This offering underpins our ambition to provide fully  In terms of product collaborations, we engaged with three partners and launched limited editions of selected - based design studio Fragment Design, the Korean-based global artist G-DRAGON, and the British-based design house Vollebak.”

Annual report 2026A · The company itself

“The key components of each revenue category are as follows: •Computing and Mobile Phones - computing (including desktops, notebooks and peripherals), mobile phones (including related mobile network carrier commissions), networking, tablets (including e-readers) and wearables (including smartwatches); •Consumer Electronics - digital imaging, health and fitness products, home theater (including home theater accessories, soundbars and televisions), portable audio (including headphones and portable speakers) and smart home; •Appliances - large appliances (including dishwashers, laundry, ovens and refrigerators) and small appliances (including blenders, coffee makers, vacuums and personal care); •Entertainment - drones, gaming (including hardware, peripherals and software, as well as augmented reality glasses), toys, virtual reality and other software; •Services - advertising, delivery, health-related services, installation, marketplace commissions, memberships, repair, set-up, technical support, warranty-related services; and •Other - other product offerings, including baby, food and beverage and outdoor living.”

Annual report 2026A · The company itself

“Produkterbjudandet består av kasino, sportspel och övriga spelformer som exempelvis poker och bingo, och förnyas hela tiden för att vara attraktivt för såväl nya som befintliga marknader. länder med lokal spellicens 22 21 länder med kontor 2700 anställda Betsson årsredovisning 2024 5/124 Några av de viktigaste strukturella drivkrafterna för tillväxt inom onlinespel är och har varit följande: Generell trend i samhället mot ökad konsumtion av produkter och tjänster online Spridning av smartphones och uppkopplade enheter Nya regleringar och licenssystem för onlinespel Produktinnovationer som virtuella spelautomater (slots) och livekasino Integration av sport och livebetting Nya smidiga betallösningar Digital marknadsföring Enligt konsultföretaget H2 Gambling Capital har marknaden för onlinespel växt med en genomsnittlig årlig tillväxttakt på 20 procent de senaste fem åren.”

Annual report 2024A · The company itself

“Our House of Brands attracts more than 112 million unique users, generating more than 450 million sessions and 2.7 billion pageviews a month. Our combined offerings include everything from quality sports content, communities, data insights, and apps, to video content, podcast, and innovative technology. *The size of the logos reflects the relative audience size From affiliate to leading digital sports media group Today, our House of Brands commands a premier position across digital sports media, betting media, and global esports communities. Leveraging our massive global audience, we drive value through a diversified revenue mix spanning affiliation, brand activations, premium sponsorships, advertising, and subscription services.”

Annual report 2025A · The company itself

“Beyond our owned platforms, Better Collective has established a dominant omnichannel presence by meeting sports fans where they live and consume content: Across third-party social and audio ecosystems where our brands and shows have more than 200 million followers. Moving beyond destination-based traffic, our talent-led strategy leverages high-profile athletes and personalities to build authentic engagement across platforms such as YouTube, Instagram, TikTok, and X, as well as Spotify and Apple Podcasts.”

Annual report 2025A · The company itself

“Esports: Leading gaming communities connecting fans worldwide Esports Esports revenue was flat in Q4. Sponsorship revenue increased by 30%, reflecting the continued strong performance of the HLTV brand.”

Annual report 2025A · The company itself

“To get an overview of all of our reporting material you are welcome to download our reports and investor presentations via our corporate website www.Bettercollective.com Founder statement: Building for long-term sustainable growth Since founding Better Collective in 2004, our journey has been one of continuous reinvention. What began as a two-person initiative has evolved into one of the leading global digital sports media groups.”

Annual report 2025A · The company itself

“Our diversified revenue mix - spanning affiliate marketing, advertising, sponsorships, subscription products, and increasingly AdTech-enabled monetization - remains a strategic strength.”

Annual report 2025A · The company itself

“Operationally, we produce a broad range of sports and betting content - written journalism, video, livestream formats, podcasts, interactive tools, and trading insights - across our own brands, including HLTV, FUTBIN, Action Network, AceOdds, Playmaker HQ, and multiple market-leading European and South American sports communities.”

Annual report 2025A · The company itself

“Fokus för verksamheten är underkläder, sportkläder, skor och väskor, samt via licenstagare även glasögon.”

Annual report 2024A · The company itself

“Commerce Enablement also includes TIDAL streaming and artist tools, which extend our commerce capabilities to creators. •Financial Solutions provides banking, lending, and money management products for individuals and businesses.”

Annual report 2025A · The company itself

“Boozt Media Partnership (BMP) erbjuder varumärkespartners media-lösningar för detaljhandel. Genom att dra fördel av Boozts stora kundbas kan varumärken med hjälp av BMP rikta effektiva annonskampanjer mot specifika kundgrupper.”

Annual report 2024A · The company itself

“Boozt är verksamt på marknaden för e-handel av mode och livsstilsprodukter.”

Annual report 2024A · The company itself

“Vi tog det första steget genom att teckna ett exklusivt distributionsavtal med VitalScientific för deras verksamhet inom klinisk kemi i USA.”

Annual report 2024A · The company itself

“Oversikten viser sektorene som utgjør den største andelen av omsetningen i konsernet Sektor Jan-Des 2024 Kraftforsyning 20,4 % Helse og sosial 1,4 % Industri 3,7 % Informasjon og kommunikasjon 2,1 % Off. adm. og forsvar 17,8 % Olje, gass og fornybart 40,5 % Tjenesteyting 6,0 % Transport 4,3 % Varehandel Konsernets kunder har store komplekse og gjensidig avhengige behov innen digitalisering og bærekraft.”

Annual report 2024A · The company itself

“• Bure förvärvade 14,5 procent i Mentimeter för 531 Mkr. • Atle förvärvade aktier för 181 Mkr däribland 66 procent av FIRST Fondene, 20 procent av Amaron Holding samt utökade ägarandelen till 100 procent i Atle Fund Management (f.d.Healthinvest Partners). • Bure förvärvade 700 000 aktier i Cavotec för 12 Mkr. • Atle lämnade villkorade aktieägartillskott på 15 Mkr till AtleFund Management, Atle Partners och Humle Fonder. • Bure Growth tecknade ett konvertibelt förlagslån på 17 Mkr iBioLamina.”

Annual report 2024A · The company itself

“In our West Coast markets, our leasing is focused on clients in the technology and media industries, as well as legal firms.”

Annual report 2025A · The company itself

“Belysningssegmentet består av selskapene Aneta Lighting AS, Scan Lamps VTA AS i Norge og Aneta Lighting AB i Sverige.”

Annual report 2024A · The company itself

“– Det kan handla om varför bygget på en gata står stilla eller om beslut som påverkar en kommunal förskola. Vi är unika i Stockholm, för om inte vi granskar socialnämnden i Huddinge eller skattepengar i Nacka, så gör ingen annan det.”

Annual report 2024A · The company itself

“Core EDA Our Core EDA products and solutions are essential in the design and verification of semiconductor chips, including analog, digital, mixed-signal, memory, radio-frequency (“RF”), and silicon photonics, and are widely used across multiple industries including automotive, aerospace and defense, consumer electronics, data centers, industrial, medical, and mobile.”

Annual report 2025A · The company itself

“In 2025, it was the fastest growing world lager in the UK. The strong growth of almost 120% was supported by an impactful advertising campaign, “Welcome to the lake”, aimed at inspiring its audience to look beyond the ordinary.”

Annual report 2025A · The company itself

“Onboard and Other Revenues In 2025, we earned 34% of our cruise revenues from onboard and other revenue goods and services including: •Beverage sales •Internet and communication services •Casino gaming •Full-service spas •Shore excursions and experiences •Specialty restaurants •Retail sales •Photo sales Many of these goods and services are available for purchase prior to embarkation and can be purchased individually or as a bundled value added package.”

Annual report 2025A · The company itself

“Our CMT segment includes global communications, media and entertainment, education, publishing, information and professional services and technology companies. Demand in this segment is driven by our clients’ need for services related to AI adoption, modernization of business and technology operations, development of agentic ecosystems for the generation of new revenue streams, enhancing user experiences and driving operational efficiency.”

Annual report 2025A · The company itself

“We manufacture GaAs VCSELs and VCSEL arrays, InP edge-emitting lasers and photodiodes, and specialty glass wafers for the consumer electronics market.”

Annual report 2026A · The company itself

“Display Segment We are the largest worldwide producer of glass substrates for flat panel displays.”

Annual report 2025A · The company itself

“Display Segment The Display segment manufactures glass substrates for flat panel displays, including liquid crystal displays (“LCDs”) and organic light-emitting diodes (“OLEDs”) that are used primarily in televisions, notebook computers, desktop monitors, tablets and handheld devices.”

Annual report 2025A · The company itself

“In addition, independent industry or financial analysts and research firms often test our solutions and provide reviews of our Falcon platform, as well as the products of our competitors, and perception of our Falcon platform in the marketplace may be significantly influenced by these reviews. If these reviews are negative, or less positive as compared to those of our competitors’ products, our brand may be adversely affected.”

Annual report 2026A · The company itself

“Our inability or failure to recognize, respond to, and effectively manage the accelerated impact of social media could have a material adverse impact on our business.”

Annual report 2026A · The company itself

“Integrated marketing is key to bringing our brands to life, and our scale enables us to be a leading advertiser in the full-service dining segment of the restaurant industry. Olive Garden leverages the efficiency of national advertising, on both traditional and streaming television, supplemented with targeted digital media investments.”

Annual report 2026A · The company itself

“Failure to protect our service marks or other intellectual property could harm our business. We regard our Olive Garden®, LongHorn Steakhouse®, Yard House®, Ruth’s Chris Steak House®, Cheddar’s Scratch Kitchen®, The Capital Grille®, Chuy’s®, Seasons 52®, Eddie V’s Prime Seafood®, Bahama Breeze®, The Capital Burger®, Darden®, and Darden Restaurants® service marks, and other service marks and trademarks related to our restaurant businesses, as having significant value and being important to our marketing efforts.”

Annual report 2026A · The company itself

“The good reputation of our restaurant brands is a key factor in the success of our business.”

Annual report 2026A · The company itself

“Septon-gruppen är en distributör av högklassig ljud- och bildutrustning (AV-produkter), samt ljusutrustning, avsedda för den professionella marknaden och konsumenter.”

Annual report 2024A · The company itself

“Septon-gruppen är en ledande distributör av högklassiga ljudoch bildutrustningar (AV-produkter) samt ljusutrustning för den professionella marknaden och konsumenter i Norden.”

Annual report 2024A · The company itself

“Stora och stabila internationella företag inom finans, informationsoch kommunikationsteknologi (ICT) och e-handel utgör majoriteten av kunderna.”

Annual report 2024A · The company itself

“We continue to expand our Focus Categories with enhancements designed for enthusiast buyers, including one-click card grading and resale for trading cards through our partnership with PSA, AI-enhanced discovery tools and interactive live shopping experiences through eBay Live.”

Annual report 2025A · The company itself

“Acquisitions had a positive effect on revenue, while decreases in equipment sales, fixed services, consumer digital services as well as the Epic TV divestment impacted revenue negatively.”

Annual report 2025A · The company itself

“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”

Annual report 2024A · The company itself

“Additive manufacturing, commonly known as 3D printing, has gained traction across various industries due to its ability to produce complex and customised products more efficiently than traditional manufacturing methods.”

Annual report 2024A · The company itself

“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities.”

Annual report 2024A · The company itself

“EG7 är aktivt inom spelbranschen, specialiserad på utveckling och publicering av PC-, konsol- och mobilspel till den globala spelmarknaden.”

Annual report 2024A · The company itself

“EG7 utmärks genom sin beprövade franchisemodell, där bolaget har en portfölj med internationellt framstående första- och tredjepartsspeltitlar.”

Annual report 2024A · The company itself

“Gruppen förvaltar för närvarande en portfölj med 11 livespel, som omfattar både välkända immateriella rättigheter från första part (IP) och globalt erkända tredjeparts IP:n.”

Annual report 2024A · The company itself

“• Big Blue Bubble är en etablerad mobil- och videospelsutvecklare med över två decenniers erfarenhet av att skapa roliga, innovativa och tillgängliga titlar • Med en historia av att utveckla spel till en mängd olika plattformar som inspirerar kreativitet och uppmuntrar människor i alla åldrar att ta till sig deras lekfulla sida • Mest känd för att vara hemmet till den snart 13 år gamla, My Singing Monsters-serien.”

Annual report 2024A · The company itself

“• Förvärvades av EG7 2020 • Daybreaks-portföljen är uppbyggd av flera spelverksamheter i tuffa ekonomiska situationer med behov av kostnadsoptimeringar och omstruktureringar • Under 2024 presterade Daybreaks portfölj i linje med förväntningarna, en gradvis ökning av aktiviteten förväntas till följd av förvärvet av Singularity 6 (S6) • Planerad lansering 2025 inkluderar, Palia och Cold Irons kommande titel Piranha Games Spelutveckling / Utgivning Huvudkontor Vancouver, Canada 2000 Nettoomsättning 2024 • Piranha Games grundades 2000 och har bidragit till etablerade FPS-actionspel, inklusive AAA-titlar som Need for Speed: Undercover och Duke Nukem Forever • Mest känd för att vara MechWarrior IPts hem under det senaste decenniet, och skapare av actionbaserade spel i världsklass, senaste lanseringen var MechWarrior 5: Clans (Clans) • Clans lanserades under det fjärde kvartalet 2024.”

Annual report 2024A · The company itself

“• Fireshine Games är en global utgivare av videospel, baserad i London, Storbritannien. Företaget har utvecklats från att vara en fysisk distributör till en digital utgivare och har byggt upp en imponerande portfölj av digitala titlar. • Firehines fysiska affär fortsätter gå starkt i ett skifte mot mer digitalt och jobbar nära partners så som Rebellion, Neowiz, Frontier Developments och Playstack • Fireshine anslöts till EG7 2019 och har etablerat ett nätverk av utgivningspartnerskap vid sidan av sina långvariga relationer med plattformar så som Sony, Microsoft och Nintendo • År 2024 cementerade Fireshine sin övergång mot digital publicering ytterligare och lanserade 5 nya spel.”

Annual report 2024A · The company itself

“Enad Global 7 AB består av fem affärsenheter/segment; - Daybreak är den största affärsenheten inom koncernen. Daybreak är en etablerad livespelutvecklare som har publicerat, utvecklat och driftat 14 livespel under sin drygt 28-åriga historia, däribland EverQuest, det första MMORPG-spelet helt i 3D.”

Annual report 2024A · The company itself

“Daybreak genererade 766,4 Mkr i nettoomsättning och 133,1 Mkr i justerad EBITDA för 2024. - Big Blue Bubble är en etablerad mobil- och videospelsutvecklare med över två decenniers erfarenhet av att skapa roliga, innovativa och tillgängliga spel. Mest känd för att vara hem åt My Singing Monsters IP:t.”

Annual report 2024A · The company itself

“- Petrol branschens mest erkända bildkonst-, strategioch marknadsföringsbyrå upplevde ett tuffare år med anledning av den fortsatta turbulensen i branschen och genererade en nettoomsättning på 146,3 Mkr och -12,1 Mkr i justerad EBITDA för 2024.”

Annual report 2024A · The company itself

“EG7 är en koncern inom spelindustrin som utvecklar, marknadsför, publicerar och distribuerar PC-, konsol- och mobilspel till den globala spelmarknaden.”

Annual report 2024A · The company itself

“Koncernens väsentliga intäkter härrör från utveckling, marknadsföring och publicering av PC-, konsol- och mobilspel.”

Annual report 2024A · The company itself

“Koncernen är dessutom verksam inom fysisk och digital publicering och distribution av spel. I dessa avtal med kunder är ofta andra parter inblandade i tillhandahållandet av spelet till slutkunden, vilket innebär att olika andelar av bruttointäkterna från slutkunden erhålls.”

Annual report 2024A · The company itself

“EG7 erbjuder marknadsföringstjänster till andra spelföretag. Koncernens kunder utgörs av företagskunder och EG7 har både ramavtal och avtal för specifika uppdrag med dessa kunder.”

Annual report 2024A · The company itself

“At year-end 2024, public sector tenants accounted for 52 per cent of total contractual rent. management properties had around 450 tenants, and the 20 largest tenants’ share of Entra’s rental income represents 50 per cent.”

Annual report 2024A · The company itself

“Exempel på detta är det publika utköpet av Believe, ett franskt digitalt musikbolag, och förvärvet av Universidad Europea, en plattform för privat eftergymnasial utbildning i Spanien och Portugal.”

Annual report 2024A · The company itself

“Customers Our customers include telecommunications carriers, mobile and other network services providers, cloud and IT services providers, digital media and content providers, financial services companies, and global enterprise 8 Table of Contents ecosystems in various industries.”

Annual report 2025A · The company itself

“Channel Sales Model: Develop our channel sales capabilities further and continue to build a portfolio that is "fit to channel" to reach large customer bases through our partners. Increase cyber threat awareness both directly and through our 200 channel partners by offering free tools and providing educational content We recognize risks in our channel strategy, including changes in agreement scope, potential loss of significant Service Provider partners, and requirements especially when working with Tier 1 Service Providers.”

Annual report 2025A · The company itself

“With the rapid growth in the use of AI and the global influence of social media outlets such as Facebook, YouTube, Instagram, X, TikTok, and other platforms, adverse publicity, whether warranted or not, can be disseminated quickly and broadly without context, making it increasingly difficult for us to effectively respond. Certain forms of technology and AI also allow users to alter or create images, videos, and other information relating to FedEx and present the information in a false or misleading manner that seems real, including attempts by third parties to masquerade as FedEx couriers and customer service agents for the purpose of deceiving and defrauding FedEx customers.”

Annual report 2026A · The company itself

“As of May 31, 2026, FedEx Office operated approximately 2,000 customer-facing stores and 16 manufacturing plants with expanded print capabilities (traditional electrophotography, digital and traditional offset, large and grand format, and dye sublimation printing), with 14 of the manufacturing plants also housing co-located signs and graphics production operations.”

Annual report 2026A · The company itself

“We are also contemplating increasing our marketing spend for the next 18 months given the positive ex - perience we had last fall with the two larger campaigns we did in Germany and in the US (New York).”

Annual report 2024A · The company itself

“A substantial and successful eort was made to create more awareness and grow revenue in Germany, with good learnings and great re - sults. is year our popular and inclusive event Fjällräven Classic introduced multiday trek - king and good trail ethics to more than 4,000 people in seven dierent countries as part of our ongoing mission to inspire, educate and make people ambassadors of nature.”

Annual report 2024A · The company itself

“From a marketing perspective, Hanwag concentrated on women as a target group in 2024. is focus involved the successful roll - out of an extensive marketing campaign with Katharina Krepold, brand ambassador and one of the Hanwag Sole People.”

Annual report 2024A · The company itself

“Meeting or exceeding many safety standards is costly and has continued to evolve as global compliance requirements and public domain (e.g., New Car Assessment Programs (“NCAPs”), Insurance Institute for Highway Safety (“IIHS”), and the China Insurance Auto Safety Index) ratings and assessments continue to evolve, are increasing in demands, and lack harmonization globally.”

Annual report 2025A · The company itself

“The Company has single and multi-year contracts for sports and non-sports programming. Licensed programming is recorded at the earlier of payment or when the license period has begun, the cost of the program is known or reasonably determinable and the program is accepted and available for airing.”

Annual report 2026A · The company itself

“Capitalized costs for owned programming, including direct costs, production overhead and development costs, are predominantly amortized using the individual-film-forecast-computation method, which is based on the ratio of current period revenue to estimated total future remaining revenue, and related costs are expensed as incurred. Future remaining revenue includes imputed license fees for content used by FOX as well as revenue expected to be earned based on distribution strategy and historical performance of similar content.”

Annual report 2026A · The company itself

“The increase of $156 million or 10% in advertising revenue was primarily due to higher news and sports pricing and the broadcast of the FIFA Men’s World Cup, partially offset by lower ratings.”

Annual report 2026A · The company itself

“Tillväxten på den mobila spelmarknaden samt efterfrågenivån och marknadsacceptansen vad gäller G5:s spel är osäkra faktorer.”

Annual report 2024A · The company itself

“Nya och annorlunda typer av underhållning kan växa i popularitet på bekostnad av mobila spel.”

Annual report 2024A · The company itself

“Konkurrensen inom den bredare underhållningsbranschen är intensiv och G5:s befintliga och potentiella användare kan lockas av konkurrerande former av underhållning, som offlinespel och traditionella onlinespel, teve, filmer och sport, liksom andra underhållningsalternativ på internet.”

Annual report 2024A · The company itself

“För de kommande åren kommer G5 att fortsätta att utveckla egna free-to-playspel, förbättra befintliga spel i portföljen samt utveckla sitt direkt till konsument erbjudande med lägre butiksavgifter, och därigenom förbättra lönsamheten för bolaget.”

Annual report 2024A · The company itself

“G5 strävar efter att uppnå högsta kvalitet i sina spel och flytta gränserna för kvalitet inom de genrer där bolaget är aktivt. Med ett större bolag och mer resurser är företaget dedikerat till att producera några av de bästa spelen i världen inom sina genrer.”

Annual report 2024A · The company itself

“Bolaget planerar lansera fem till sex spel per år till mjuklansering och att ett till två spel per år förväntas lanseras globalt.”

Annual report 2024A · The company itself

“Användningen av användarförvärv ska balanseras mot en målsättning om ökad lönsamhet, samtidigt ska bolaget öka sitt fokus på att behålla befintliga kunder och anskaffa användare organiskt genom butikerna och interna verktyg.”

Annual report 2024A · The company itself

“Ledningen har, förutom spelutveckling och marknadsföring, fokuserat på fortsatta förbättringar av G5:s egen butik, G5 Store, vilket haft kraftigt positiv påverkan på bolagets omsättning från plattformen samt förbättringar inom bolagets interna processer för att mer effektivt kunna uppdatera, förbättra och analysera portföljen av F2P spel.”

Annual report 2024A · The company itself

“G5 Entertainment AB (publ) G5 Entertainment Inc (USA) G5 Holding UKR LLC (Ukraina) G5 Entertainment DOO (Montenegro) G5EN ARM LLC (Armenien) G5 Holding RUS LLC (Ryssland) G5 UA Holdings, Ltd (Malta) G5EN GEO LLC (Georgien) G5EN BGR EOOD (Bulgarien) G5 Holdings, Ltd (Malta) G5EN CYO LTD (Cypern) G5EN KAZ (Kazakstan) Alik Tabunov, COO Olga Abashova, CPO Vlad Suglobov, VD Stefan Wikstrand, CFO Aleksandr Bezobrazov, CMO FÖRVALTNINGS- BERÄTTELSE G5 2025 och framåt G5 verkar inom en växande del av gamingmarknaden, där intäkterna från spel som spelas på smartphones och surfplattor förväntas återkomma till tillväxt efter 2022 som var det första året med en nedgång i mobilspelsmarknaden efter toppåret 2021 som var kraftigt påverkat av pandemin.”

Annual report 2024A · The company itself

“Bolaget har en bred spelportfölj med ett växande antal egenutvecklade free-to-play spel, har fokuserat på en ekonomiskt stark och lojal målgrupp och har en stor erfarenhet av att utveckla attraktiva spel i olika genrer.”

Annual report 2024A · The company itself

“Vid slutet av året hade bolaget 10 ”Aktiva” spel, 21 spel i Harvest och 4 ”Licensierade” spel.”

Annual report 2024A · The company itself

“Andelen av intäkter som kommer från den totala portföljen av egna spel uppgick till 71 (71) procent.”

Annual report 2024A · The company itself

“Through its trusted brands including Norton, Avast, LifeLock, and MoneyLion, Gen helps people protect what matters most — their data, identity, privacy, reputation and financials — through award-winning cyber-security, online privacy, identity protection and financial wellness solutions used by nearly 500 million users in more than 150 countries.”

Annual report 2026A · The company itself

“By continuously optimising our traffic sources and marketing strategies, we enhance long-term value creation for both our partners and shareholders. With a portfolio of over 150 websites, we provide expert reviews, exclusive offers, and in-depth insights into both emerging and established online gaming brands.”

Annual report 2024A · The company itself

“5.1 | Business summary for the year The Group sustained its strong growth trajectory and achieved high financial performance during a transformative year which have advanced the business’s journey as a market-leading affiliate in the iGaming industry and have established a strong position for Gentoo’s future growth both organically and through expansions.”

Annual report 2024A · The company itself

“Furthermore, in the first half of 2024, the first initial sports sections were added and AskGamblers continued its growth, setting new records with ongoing development in sports content and product enhancements. The fourth quarter for AskGamblers also marked a significant milestone for the site as it officially launched in the regulated US market.”

Annual report 2024A · The company itself

“Our model combines SEO optimised websites and paid marketing campaigns to maximise reach and efficiency, seamlessly connecting players with leading online sportsbooks and casinos. Through a portfolio of authoritative websites, we attract organic traffic via search engines, while our data driven paid media strategies including search engine marketing, social media advertising, and programmatic display enable targeted and focused customer acquisition.”

Annual report 2024A · The company itself

“Glass processed with Glaston’s machinery is used in the architectural, mobility, display and solar energy industries.”

Annual report 2025A · The company itself

“The Direct to Consumer Division ("DTC") markets adult and juvenile life insurance through a variety of channels, including direct mail, insert media, and digital marketing.”

Annual report 2025A · The company itself

“Glunz & Jensen’s sales to the Offset market decreased by 2,0% in 2025 compared to 2024. The market has seen a slow decline over a long period due to changes in consumer behavior driving less need for commercial print as well as a shift from traditional to digital print production.”

Annual report 2025A · The company itself

“Gaming 2,669 ... Premium software-enabled and system-integrated gaming gear”

Annual report 2025B · From the report

“Helping every gamer feel like a star”

Annual report 2025A · The company itself

“The Arctis Nova Elite is a story of meticulous design, engineering, and craftsmanship to deliver the first Hi-Res Wireless Certified immersive listening experience across PS5/Xbox/Nintendo Switch/PC, music, entertainment, work & play. Custom Carbon Fiber Drivers, OmniPlay that gives the ability to Connect/Mix/Play up to four sources on PC/Console/Bluetooth simultaneously, and AI Noise Rejecting Microphones come together to create the ultimate gaming headset.”

Annual report 2025A · The company itself

“As a result, overall revenue ended at DKK 2,669 million, compared to DKK 3,407 million in 2024, including an impact of -3% from FX. In North America, SteelSeries performed very well in a gaming equipment market that was significantly impacted by decreasing consumer sentiment during the year. Driven by the strong commercial execution and relevant product introductions, SteelSeries managed to perform well compared to the market, which led to a single-digit decline in organic revenue growth.”

Annual report 2025A · The company itself

“Our GoDaddy Guides also market our brand through their recommendations of our products or solutions to specifically meet the needs of our customers.”

Annual report 2025A · The company itself

“In addition, as we expand our social media management and professional web services, we may be subject to liability for content we create on behalf of our customers.”

Annual report 2025A · The company itself

“Blandt årets højdepunkter i kerneforretningen var for Gyldendal Forlag udgivelsen af Morten Münsters Afdelingen for magisk tænkning, der har været en af årets helt store bestsellere på det danske bogmarked, blandt andet understøttet af en kreativ integreret marketingkampagne.”

Annual report 2025A · The company itself

“Tabell: Vesentlige påvirkninger og risikoer knyttet til forbrukere og sluttbrukere Underemne Del-underemne Beskrivelse av påvirkning, risiko og mulighet Tidshorisont Informasjonsrelaterte konsekvenser for forbrukere og/eller sluttbrukere Tilgang på sikker-/ kvalitetsinformasjon Faktisk positiv påvirkning: Gyldendal utgir bøker og produserer innhold som bidrar til økt meningsytring, kunnskap og innsikt blant befolkningen i samfunnet (nedstrøm) Kort, mellomlang og lang sikt Informasjonsrelaterte konsekvenser for forbrukere og/eller sluttbrukere Tilgang på sikker-/ kvalitetsinformasjon Faktisk positiv påvirkning: Gyldendal er en formidler av pålitelig og kvalitetssikret informasjon som fremmer kritisk tenkning, utdannelse, språk og kultur i det norske samfunnet (nedstrøm). lang sikt Informasjonsrelaterte konsekvenser for forbrukere og/eller sluttbrukere Privatliv Faktisk positiv påvirkning: Gyldendals digitale produkter og tjenester ivaretar våre brukeres personvern (nedstrøm). lang sikt Informasjonsrelaterte konsekvenser for forbrukere og/eller sluttbrukere Ytringsfrihet Faktisk positiv påvirkning: Gyldendal fremmer ytringsfrihet som en grunnleggende verdi i samfunnet (nedstrøm).”

Annual report 2024A · The company itself

“Gyldendal er Norges største bokkonsern, med virksomheter i alle ledd – fra forlag og innholdsproduksjon, til distribusjon, handel, markedsplasser og tjenester.”

Annual report 2024A · The company itself

“Gjennom våre heleide og deleide selskap er Gyldendal til stede i flere ledd i verdikjeden i bokbransjen, fra utarbeidelse av manus i forlagene, via distribusjon til salg av bøker og andre varer og strømmetjenester. Konsernledelsen styrte i 2024 forretningsvirksomheten ut fra virksomhetsområdene Forlag og innholdsproduksjon, Handel og markedsplasser og Tjenester og vekst. Forlag og innholdsproduksjon består av flere forlag og redaksjoner som produserer og utvikler innhold tilpasset ulike formater og kanaler.”

Annual report 2024A · The company itself

“•Entertainment. Reinforcing storylines associated with our owned and controlled brands through entertainment mediums, including television, film, digital content and other programming is our primary entertainment strategy.”

Annual report 2025A · The company itself

“Key brands include: •MARVEL, including SPIDER-MAN and THE AVENGERS(1) •LUCASFILMS' STAR WARS(1) •BEYBLADE •Final Fantasy, Avatar: The Last Airbender, and Fallout, which collaborate with our MAGIC collectibles through SECRET LAIR projects (1) Owned by The Walt Disney Company (“Disney”).”

Annual report 2025A · The company itself

“A recent example of this includes a return of MONOPOLY at McDonald's for the first time in a decade, which featured a new digital-first format, and a resurgence from MY LITTLE PONY through licensing across merchandising categories, music, and trading card products. •Digital Games Licensing: We out-license certain of our brands to other third-party digital game developers who transform Hasbro brand-based characters and other intellectual properties into digital gaming experiences such as MONOPOLY GO! and Baldur's Gate 3.”

Annual report 2025A · The company itself

“The recognition and reputation of our brands are important to our success. We have a significant number of trademark registrations in jurisdictions around the world for use in connection with our services, plus at any given time, a number of pending applications for trademarks and other IP.”

Annual report 2025A · The company itself

“Efterfrågan på papper varierar mellan olika segment där bokmarknaden varit stabil medan andra grafiska segment som magasinpapper har utvecklats svagare.”

Annual report 2024A · The company itself

“Det grafiska segmentet innefattar allt från böcker och magasin till reklam och anteckningsböcker. Kartongen används bland annat till omslag och presentkort medan Holmens bokpapper är den ledande produkten för pocketböcker i Europa.”

Annual report 2024A · The company itself

“HP offers a range of secure services and solutions to commercial customers to help them manage the lifecycle of their PCs and mobility installed base. • Consumer PS consists of devices, accessories and services which are designed for consumer usage, focusing on gaming, learning and working remotely, consuming multi-media for entertainment, managing personal life activities, sharing information and staying connected, informed, and secure.”

Annual report 2025A · The company itself

“Ilkka-konserni luopui medialiiketoiminnasta 30.4.2025 osakevaihtona toteutuneella yritysjärjestelyllä.”

Annual report 2025A · The company itself

“For instance, product liability claims may arise from supplying ingredients to food, beverage, and personal care industries, while the operation of our facilities may expose us to environmental and personal injury claims, regulatory actions, and fines.”

Annual report 2025A · The company itself

“Intrum har cirka 70000 uppdragsgivare på 20 marknader som täcker fordringar inom bank och finansinstitut, telekom, allmännyttiga företag, e-handel, detaljhandel, försäkring och små och medelstora företag.”

Annual report 2024A · The company itself

“In addition, our advertising and promotional activities may become increasingly expensive, particularly as we adapt to new and evolving media platforms and communication channels and as media concentrates in certain platforms.”

Annual report 2025A · The company itself

“Our business, results of operations, or financial condition could be adversely affected if we are unable to maintain and promote a favorable perception of our brands and products on a cost-effective basis.”

Annual report 2025A · The company itself

“We are a digital modern marketing company, and we collaborate with celebrities, influencers, and healthcare professionals to amplify brand awareness and product innovations.”

Annual report 2025A · The company itself

“Media ​ Kroger Precision Marketing, our retail media business, leverages our rich first-party data and deep customer relationships to provide targeted, measurable advertising solutions for consumer-packaged goods companies and a growing number of other industry partners. With insights drawn from the shopping behaviors of millions of loyal households, Kroger Precision Marketing enables advertisers to reach customers with relevant messaging across a variety of digital and in-store channels, including on-site search, display, social media, connected TV, and in-store placements.”

Annual report 2026A · The company itself

“Our retail business generates traffic and data which accelerates growth in our high operating margin alternative profit businesses, like retail media.”

Annual report 2026A · The company itself

“Our Integrated Resorts feature non-gaming attractions and amenities including world-class entertainment, expansive retail offerings and market-leading MICE facilities. These attractions and amenities enhance the appeal of our Integrated Resorts, contributing to visitation, length of stay and customer spending at our properties.”

Annual report 2025A · The company itself

“The live entertainment program at our properties has been a key traffic driver and has established us as a leader in the field of tourism and leisure activities.”

Annual report 2025A · The company itself

“Aggregate Stockholm AB investerar i mediautrymme som tillväxtkapital i små och medelstora bolag i Sverige, Norge och Finland. Investeringarna sker genom fonder som är gemensamt delägda med 12 av Sveriges största mediabolag med en mix av TV, radio, tidskrifter, dagspress, display samt utomhusannonsering.”

Annual report 2024A · The company itself

“Key 2025 Developments •In 2025, Mastercard announced it would become the official naming partner of the McLaren Formula 1 Team, starting with the 2026 season.”

Annual report 2025A · The company itself

“Mobile: Consists of memory and storage products sold into the smartphone and other mobile-device markets, including discrete NAND, DRAM, and managed NAND products. MCBU offers a portfolio of MCPs and managed NAND, including products which combine e.MMC/UFS solutions with LPDDR, along with a suite of unique firmware features designed for next-generation smartphones and to accelerate AI applications in the mobile market.”

Annual report 2025A · The company itself

“XBOX (formerly Gaming), including XBOX hardware and XBOX content and services, comprising first- and third-party content (including games and in-game content), XBOX Game Pass and other subscriptions, XBOX Cloud Gaming, advertising, and other cloud services. • Search advertising (formerly Search and news advertising), comprising Bing, Copilot, Microsoft News, Microsoft Edge, and third-party affiliates.”

Annual report 2026A · The company itself

“XBOX Microsoft is expanding how billions of people globally access and play video games on PC, console, mobile, and cloud. Our game content is developed through a collection of first-party studios creating iconic and differentiated gaming experiences.”

Annual report 2026A · The company itself

“XBOX revenue decreased $1.7 billion or 7% driven by declines in XBOX content and services and XBOX hardware.”

Annual report 2026A · The company itself

“More Personal Computing revenue decreased driven by XBOX (formerly Gaming), offset in part by growth in Search advertising.”

Annual report 2026A · The company itself

“INTÄKTSREDOVISNING Intäktsredovisning Intäkter från externa kunder kommer huvudsakligen från försäljning och reklam i våra appar och spel och försäljning av onlinespel.”

Annual report 2024A · The company itself

“Annonsintäkter Övriga intäkter består främst av annonsintäkter och redovisas över tid då MTG tillhandahåller kunden det avtalade annonsutrymmet .”

Annual report 2024A · The company itself

“Sales and Marketing Our sales and marketing strategy for all our non-alcohol beverages is to focus our efforts on developing brand awareness through image-enhancing programs and product sampling. We support our non-alcohol brands with prize promotions, price promotions, competitions, endorsements from selected public and sports figures, sports personality endorsements, influencer endorsements, collaborations, sampling and sponsorship of selected athletes, teams, series, bands, esports, causes and events.”

Annual report 2025A · The company itself

“Nasdaq launched 122 new Index products in 2025, with nearly half of the launches being international products and 32 new products in the institutional insurance annuity space. •The Financial Technology segment delivered 14% growth in ARR and revenue, reflecting an increase in new clients, cross-sells and upsells. •Market Services delivered record revenue, reflecting strength across U.S. cash equities and U.S. equities options volumes in 2025.”

Annual report 2025A · The company itself

“Nelly är en av Nordens mest älskade modedestinationer för unga kvinnor. Vi erbjuder en vibrerande modevärld där vi varje dag inspirerar vår målgrupp med trender och helhetslooks, genom vårt eget varumärke ”Nelly” och noga utvalda varumärken från en internationell portfölj.”

Annual report 2024A · The company itself

“Business and Operational Risks Failure to maintain our reputation, brand image and culture could negatively impact our business. Our iconic brands have worldwide recognition, and our success depends on our ability to maintain and enhance our brand image and reputation. Maintaining, promoting and growing our brands will depend on our design and marketing efforts, including product innovation, product quality and advertising and consumer campaigns.”

Annual report 2026A · The company itself

“Failure to continue to obtain or maintain high-quality endorsers of our products could harm our business. We establish relationships with professional athletes, sports teams and leagues, as well as other public figures, including artists, designers and influencers, to develop, evaluate and promote our products, as well as establish product authenticity with consumers. However, as competition in our industry has increased, the costs associated with establishing and retaining such sponsorships and other relationships have increased, and competition to attract and retain high-quality endorsers has intensified, including due to the growing influence of athletes' personal brands, the proliferation of athlete-led commercial ventures and a broader pool of competing brands seeking endorsement relationships.”

Annual report 2026A · The company itself

“Produkter och produktsystem till industriföretagen Den senaste versionen av Voicepad är en väggmonterad kontrollenhet som, trots sin kompakta storlek, innnehåller flera funktioner. Den innehåller kraftfulla sirener, röststyrd kommunikation med Verisures larmcentral och en knappsats för att hantera hemmets uppkopplade enheter. Målet var att utveckla en kompakt enhet som rymmer avancerad teknologi samtidigt som den är estetiskt tilltalande.”

Annual report 2024A · The company itself

“In 2024 the annual demand for standard newsprint in Europe decreased by 1% compared to previous year.”

Annual report 2024A · The company itself

“Norske Skog operates four mills in Europe (Norske Skog Skogn, Norske Skog Saugbrugs, Norske Skog Bruck, and Norske Skog Golbey): • Publication paper: 1.3 million tonnes annually (0.8 million tonnes newsprint, 0.5 million tonnes magazine paper) under brands like Nornews and Norcote . • Packaging paper: Following conversions, Norske Skog Bruck (210 tonnes) and Norske Skog Golbey (550 000 tonnes, starting in 2025) will produce 760 000 tonnes of recycled containerboard (Strato brand). • Energy and bio-products: Mills generate renewable energy, biogas at several mills and innovative bio-products.”

Annual report 2024A · The company itself

“The sector in which Norske Skog operates is another critical criterion. As a major player in the international publication paper market, the company must adhere to industry-specific regulations and standards, ensuring ethical and sustainable practices throughout its value chain.”

Annual report 2024A · The company itself

“Publication paper Europe encompasses production and sale of newsprint and magazine paper in Europe.”

Annual report 2024A · The company itself

“For example, we hold proprietary game source code from third-party partners in our GFN service. Breaches of our GFN security measures, which have happened in the past, could expose our partners to the risk of loss or misuse of this source code, damage both us and our partners, and expose NVIDIA to potential litigation and liability.”

Annual report 2026A · The company itself

“The Graphics segment includes GeForce GPUs for gaming and PCs, and Quadro/NVIDIA RTX GPUs for enterprise workstation graphics.”

Annual report 2026A · The company itself

“Gaming Gaming is the largest entertainment industry, with PC gaming as the predominant platform. Many factors propel its growth, including new high production value games, the continued rise of eSports, social connectivity and the increasing popularity of game streamers, modders, or gamers who remaster games, and creators.”

Annual report 2026A · The company itself

“Our products for the gaming market include GeForce RTX GPUs for gaming desktop and laptop PCs, GeForce NOW cloud gaming service, as well as SoCs and development services for game consoles.”

Annual report 2026A · The company itself

“Gamers choose NVIDIA GPUs to enjoy immersive, increasingly cinematic virtual worlds.”

Annual report 2026A · The company itself

“Our products and service offerings support client objectives across our primary focus areas: media, content, commerce, generative AI, and branding communications.”

Annual report 2025A · The company itself

“Media & Advertising includes strategic media planning, buying and optimization, data and analytics, creative services, and content production.”

Annual report 2025A · The company itself

“The year-over-year changes in worldwide revenue in 2025, compared to 2024, in our fundamental disciplines were: Media & Advertising increased $1,359.8 million, Precision Marketing increased $162.2 million, Public Relations decreased $27.2 million, Healthcare increased $42.8 million, Branding & Retail Commerce decreased $108.8 million, Experiential increased $143.2 million and Execution & Support increased $10.8 million.”

Annual report 2025A · The company itself

“% of Revenue $ % of Revenue $ Change % Constant Currency Growth Media & Advertising $ 8,656.1 55.2 % $ 8,101.8 55.2 % $ 554.3 8.7 % Precision Marketing 1,776.3 11.3 % 1,414.7 9.6 % 361.6 23.5 % Public Relations 1,640.8 10.5 % 1,540.3 10.5 % 100.5 5.1 % Healthcare 1,337.1 8.5 % 1,342.4 9.1 % (5.3) (1.3) % Branding & Retail Commerce 726.4 4.6 % 788.0 5.4 % (61.6) (9.5) % Experiential 719.5 4.6 % 635.3 4.3 % 84.2 12.7 % Execution & Support 832.9 5.3 % 869.7 5.9 % (36.8) (4.8) % Revenue $ 15,689.1 $ 14,692.2 $ 996.9 7.2 % 2025 v.”

Annual report 2025A · The company itself

“Selskapet økte investeringene sine i merkevarebygging for å styrke posisjonene, reflektert i økte reklameinvesteringer på 35,9 % fra forrige år.”

Annual report 2024A · The company itself

“The service life of the steel depends on the application rather than on the steel itself. It can vary from approximately 6 months in mobile phones to 60 years in buildings or 120 years in bridges.”

Annual report 2025A · The company itself

“Paper We are a leading producer of UFS in North America, according to industry sources and our own estimates. We manufacture and sell papers, including both commodity and specialty papers, which may have custom or specialized features such as colors, coatings, high brightness, and recycled content. Our papers consist of communication papers, including cut-size office papers, and printing and converting papers.”

Annual report 2025A · The company itself

“Our end-customers operate in a variety of industries, including education, energy, financial services, government entities, healthcare, Internet and media, manufacturing, public sector, and telecommunications.”

Annual report 2026A · The company itself

“Fodboldklubbens indtægter kommer primært fra TVpenge, præmiepenge, salg af merchandise, sponsorater”

Annual report 2025A · The company itself

“Mediedækning og offentlig omtale generelt kan få indflydelse på forbrugeradfærd og -handlinger. I det omfang koncernen udsættes for negativ omtale, og i det omfang den negative omtale medfører ændrede forbrugsmønstre, kan det få en negativ indvirkning på koncernen.”

Annual report 2025A · The company itself

“If our reputation or our brands are damaged, our business and operating results may be harmed. Our reputation and brands are globally recognized, important to our business, and affect our ability to attract and retain our customers.”

Annual report 2025A · The company itself

“Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $5.4 billion in 2025, $5.9 billion in 2024 and $5.7 billion in 2023, including advertising expenses of $3.4 billion in 2025, $3.9 billion in 2024 and $3.8 billion in 2023.”

Annual report 2025A · The company itself

“Vi har levert fire strake kvartaler med resultatvekst, drevet av sterk økning i digitale inntekter og kostnadsbesparelser fra effektiviseringstiltak.”

Annual report 2024A · The company itself

“Mediehusene i konsernet når daglig ut til over halvannen million lesere på digitale plattformer.”

Annual report 2024A · The company itself

“Postal Services’ offering includes delivery services, multichannel services and digital services, which cover, among others, letters (both corporate and consumer letters), multichannel messaging solutions, newspaper and magazine delivery, as well as addressed direct marketing services.”

Annual report 2025A · The company itself

“Profoto utvecklar, marknadsför och säljer system för ljussättning inom professionell foto grafering, exempelvis blixtar, ljusformare och automatiserade system för e-handel. Slutanvändarna är professionella fotografer och kommersiella kunder, bland annat stora konsumentinriktade varumärken och e-handelsföretag.”

Annual report 2024A · The company itself

“Vi utvecklar, marknadsför och säljer produkt- och mjukvarulösningar för professionella fotografer, filmfotografer och studios.”

Annual report 2024A · The company itself

“Our business strategy relies heavily on our reputation and brands, which are critical to our success.”

Annual report 2025A · The company itself

“Advanced Display Materials Qnity is a leading supplier of innovative materials and processes for organic light-emitting diode ("OLED") displays. For the last decade, we have pioneered advanced OLED materials, launching the first mass-produced red phosphorescent OLED host.”

Annual report 2025A · The company itself

“We are also powering the testing offered by leading health, wellness, and wearable brands, where we provide the underlying testing services for their consumer health service offerings.”

Annual report 2025A · The company itself

“In connection with our digital commerce operations, we engage consumers through various digital and social media platforms, which are supported through our collaboration with influencers who have an authentic connection to our brand.”

Annual report 2026A · The company itself

“Marketing and Advertising Our marketing and advertising programs communicate the themes and images of our brands and are integral to the success of our product offerings. The majority of our advertising programs are created and executed by our in-house creative and advertising agency to ensure consistency of presentation, which are complemented by our marketing experts in each region who help to execute our localized strategies. We create distinctive image advertising for our brands, conveying the particular message of each one within the context of the overall Ralph Lauren portfolio.”

Annual report 2026A · The company itself

“We also conduct a variety of public relations activities, including fashion presentations in major cities such as New York City, Paris and Milan. Such fashion events, in addition to celebrity dressing occasions, including those related to red carpet events, weddings, and major sporting events, and events hosted in our stores and restaurants, including The Polo Bar in New York City, generate extensive domestic and international media and social coverage.”

Annual report 2026A · The company itself

“We are the official outfitter for all on-court officials at the Wimbledon and U.S. Open tennis tournaments. These tournaments provide worldwide exposure for our brand in a relevant lifestyle environment.”

Annual report 2026A · The company itself

“We also continue to be an Official Outfitter of the U.S. Olympic and Paralympic Teams, providing the Opening and Closing Ceremony Uniform apparel and a collection of Villagewear apparel and accessories available to men, women, and children, with the right to manufacture, distribute, advertise, promote, and sell products in the U.S. Most recently, we dressed Team USA for the 2026 Winter Olympic and Paralympic Games in Milan, Italy and the 2024 Summer Olympic and Paralympic Games in Paris, and we will be dressing the team for the upcoming 2028 Summer Olympic and Paralympic Games in Los Angeles.”

Annual report 2026A · The company itself

“We receive a high degree of media coverage globally. We have experienced, and expect to continue to experience, media, legislative, governmental, and regulatory scrutiny of our decisions. Unfavorable publicity and scrutiny involving us, including regarding our data privacy, intellectual property, content, or other practices, product changes, product quality, pricing increases, litigation, or regulatory action, or regarding the actions of our employees, Redditors, moderators, or advertisers, or other issues, may significantly harm our brand and reputation, and could adversely affect the size, demographics, engagement, and loyalty of our user base.”

Annual report 2025A · The company itself

“In the three months ended December 31, 2025, an average of 121.4 million daily active uniques (“DAUq”) around the world came together on Reddit – continuously adding to our longstanding and constantly evolving human archive of information.”

Annual report 2025A · The company itself

“Sufficiency of audit evidence over ad delivery used in advertising revenue As discussed in Notes 2 and 3 to the consolidated financial statements, the Company generated $2.1 billion of advertising revenue for the year ended December 31, 2025. The Company generates the majority of its revenues through the sale of advertising on the Company’s website and mobile applications.”

Annual report 2025A · The company itself

“In communities like r/ sonos and r/ fidelityinvestments, companies are providing troubleshooting tips, investment advice, and customer service, and creators and publishers are using our new Ask Me Anything (“AMA”) features to connect with their audience and fans on the platform. We also launched Reddit Pro tools for publishers to help media outlets easily share and track content with users, and early adopters like The Atlantic, The Hill, NBC News, and The Associated Press are able to sync their feeds and automatically import articles, track how their stories are shared, and use AI-powered tools to find the right communities on Reddit.”

Annual report 2025A · The company itself

“Olennaisimmat lähiajan riskit ja epävarmuudet ovat: • Remedyn pelinkehitys saattaa epäonnistua, jos yhtiö ei pysty kehittämään pelejään asetettujen vaatimusten, kuten julkaisuaikataulun, laatuvaatimusten ja budjetin, mukaisesti.”

Annual report 2025A · The company itself

“Lisäksi yhtiön pelit eivät välttämättä käy kaupaksi riittävän hyvin julkaisunsa jälkeen, vaikka pelit saisivat hyvät arvostelut ja olisivat korkealaatuisia, minkä seurauksena Remedyn pelituotot jäävät arvioitua pienemmiksi. • Remedy on solminut pitkäaikaisia julkaisusopimuksia keskeisten pelinkehitykseen ja pelimyyntiin liittyvien kumppaneiden kanssa.”

Annual report 2025A · The company itself

“Vuoteen 2030 mennessä Remedy pyrkii olemaan arvostettu luova studio, jolla on kestävää ja merkittävää kaupallista menestystä.”

Annual report 2025A · The company itself

“Remedyn vuosi huipentui siihen, kun Remedy julkisti joulukuussa, että CONTROL Resonant, joka tunnettiin aikaisemmin nimellä Control 2, tullaan julkaisemaan vuonna 2026. CONTROL Resonant on jatko-osa ylistetylle ja moninkertaisesti palkitulle vuonna 2019 julkaistulle Control-pelille.”

Annual report 2025A · The company itself

“Kesäkuussa 2025 Remedy itsejulkaisi yhtiön ensimmäisen kolmen pelaajan yhteistyöhön perustuvan FPS-pelin, FBC: Firebreakin.”

Annual report 2025A · The company itself

“Pelin myynnit eivät yltäneet Remedyn odotuksiin, minkä takia yhtiö kirjasi kaudelle Q3 2025 tulokseen 14,9 miljoonan euron ei-kassavirtavaikutteisen arvonalentumisen, joka kattoi suurimman osan FBC: Firebreak -pelin aktivoiduista kehittämismenoista ja pelille kohdistetuista hankituista julkaisuoikeuksista.”

Annual report 2025A · The company itself

“Kehitysmaksut tuottivat noin 55 prosenttia vuoden kokonaisliikevaihdosta, ja pääosa kehitysmaksuista liittyi Max Payne 1&2 remakeen.”

Annual report 2025A · The company itself

“Remedy sai kehitysmaksuja myös CONTROL Resonant -peliprojektista.”

Annual report 2025A · The company itself

“Remedyllä on kaksi omaa vakiintunutta pelibrändiä, CONTROL ja Alan Wake, jotka linkittyvät Remedy Connected Universen kautta.”

Annual report 2025A · The company itself

“Lisäksi työskentelemme partneripelibrändi Max Paynen parissa, joka on alunperin Remedyn luoma.”

Annual report 2025A · The company itself

“Foundry – software technologies and AI-enabled solutions used to deliver visual effects and 3D content for the entertainment and digital design industries. iPipeline – cloud-based software and AI-enabled analytics solutions for the life insurance/annuities and financial services industries. iTradeNetwork – electronic marketplaces and supply chain software that connect food suppliers, distributors, and vendors, primarily in the perishable food sector.”

Annual report 2025A · The company itself

“Utmaningar, mål och metoder Rottneros strävar mot att successivt bredda verksamheten till områden där koncernens kompetens kan utnyttjas, inte minst för att applicera kunnandet inom fiber på nya växande användningsområden vid sidan av marknadsmassa. Under 2024 ökade andelen av koncernens intäkter som kom från dessa till 10 procent. Målet är att andelen ska öka till 25 procent senast 2030.”

Annual report 2024A · The company itself

“Share of revenue from product sales Enterprise ProAudio Healthcare  2024/252023/242022/232021/222020/21 2024/252023/242022/232021/222020/21 52.3% 46.6% 45.8% 46.7% 50.0% 2024/252023/242022/232021/222020/21 -34 1.3% 6.9% 8.7% -6.8% 1.6% 2024/252023/242022/232021/222020/21 8.2% 12.9% 13.7% 0.6% 6.5% Gross profit The gross profit development is positively impacted by the revenue level and reached DKK 274 million (2023/24: DKK 233 million).”

Annual report 2025A · The company itself

“In ProAudio, we help B2B customers design and develop advanced wireless audio solutions by delivering high-performance audio modules tailored to their needs. Our technologies are applied in intercom systems for commercial, industrial, and defense environments as well as microphone and instrument connectivity, wireless gaming, small conference systems, and content creation solutions.”

Annual report 2025A · The company itself

“Fewer companies now hold greater market share for certain applications and services, such as cloud storage and computing platforms, mobile, social media, shopping and streaming media. As a result, the competitive landscape is changing, giving these companies increased leverage in negotiating prices and other terms of sale, which could negatively impact our profitability.”

Annual report 2026A · The company itself

“With the continued development of alternative forms of media, particularly free or paid digital media, the Group’s media businesses and the strength of its media brands depend on its continued ability to identify and respond to constantly shifting consumer preferences and industry trends, as well as its ability to develop new and appealing products and services in a timely manner.”

Annual report 2025A · The company itself

“The Editors-in-Chief and Sanoma’s Forum for the Editors-in-Chief develop the editorial culture at Sanoma, provide guidance, follow reader surveys and customer feedback and take part in public discussion on editorial independence, ethics and journalism.”

Annual report 2025A · The company itself

“Helsingin Sanomat, Aamulehti, Satakunnan Kansa and Ilta-Sanomat, have their own journalists’ instructions that complement the CMM’s Journalist’s Guidelines and guide ethical news work daily. Helsingin Sanomat’s principles for example explain why the work is done and how published information is verified.”

Annual report 2025A · The company itself

“Media Finland continuously develops accessibility in its services that provide audiovisual content.”

Annual report 2025A · The company itself

“To inspire reading enthusiasm among 13–25-year-olds, Media Finland supported Lukuboost campaign launched in October 2024 and concluded in January 2025.”

Annual report 2025A · The company itself

“Sanoma’s target is to promote an open democratic society and freedom of speech through its independent media, and to increase awareness, empathy and tolerance with its journalism.”

Annual report 2025A · The company itself

“We have leading brands and services, such as Helsingin Sanomat, Ilta-Sanomat, Aamulehti, Me Naiset, Aku Ankka, Nelonen, Ruutu, Supla and Radio Suomipop.”

Annual report 2025A · The company itself

“In the media business, significant groups of products and services offered for consumers include media products in multiple forms: printed and digital journalism including newspapers, magazines and digital platforms as well as entertainment through TV, video-on-demand (VOD), radio, audio-on-demand and events.”

Annual report 2025A · The company itself

“For Finnish consumers, Sanoma delivers independent journalism that supports freedom of expression and increases people’s awareness. Sanoma offers entertainment through TV and video, radio and audio as well as live events.”

Annual report 2025A · The company itself

“Sanoma’s resource inflows cover its printed products, such as newspapers, magazines and books.”

Annual report 2025A · The company itself

“In Media Finland, Sanoma uses data to improve its journalistic content, deliver personalised recommendations in media, drive customer-centric marketing, and improve customer experience of digital applications.”

Annual report 2025A · The company itself

“Through its media business, Sanoma promotes freedom of expression by delivering reliable information through multiple media platforms and following journalistic ethics.”

Annual report 2025A · The company itself

“Non-print sales are generated from subscriptions for online news, SVOD and AOD as well as advertising sales generated through TV, VOD, radio, online and mobile channels. Also revenue generated from events (both consumer income and other B2B revenue) is included in non-print sales.”

Annual report 2025A · The company itself

“Transparent climate action may offer the opportunity to enhance brand value and increase the demand for its products.”

Annual report 2025A · The company itself

“It focuses on Sanoma’s business activities related to its learning and media businesses, and covers all of Sanoma’s operating countries.”

Annual report 2025A · The company itself

“Through its learning and media businesses, Sanoma impacts the lives of millions of people every day. The impacts on consumers and end-users inform and contribute to Sanoma’s strategy and business model.”

Annual report 2025A · The company itself

“We also sell a variety of coffee and tea products and license our trademarks through other channels, such as licensed stores as well as grocery and foodservice through our Global Coffee Alliance with Nestlé S.A.”

Annual report 2025A · The company itself

“Investment Servicing Our Investment Servicing line of business provides a broad range of investment servicing and market and financing solutions to institutional clients, including mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, wealth managers, investment managers, foundations and endowments worldwide.”

Annual report 2025A · The company itself

“Our Ansys® solutions portfolio is widely used by engineers, designers, researchers and students across a broad spectrum of industries and academia, including high-tech, aerospace and defense, automotive, energy, industrial equipment, materials and chemicals, consumer products, healthcare and construction.”

Annual report 2025A · The company itself

“Our S&A customers represent a broad spectrum of industries including high-tech, aerospace and defense (A&D), automotive, energy, industrial equipment, materials and chemicals, consumer products, healthcare and construction.”

Annual report 2025A · The company itself

“Ett högt prioriterat område i strategin är att skapa en ökad kännedom och uppmärksamhet kring varumärket Synsam, liksom för de egna nordiska varumärkena.”

Annual report 2024A · The company itself

“Nettoomsättning från externa kunder kommer från försäljning av varor (framför allt av glasögon, solglasögon och kontaktlinser) samt synundersökningar (tjänster) och intäkter från Synsam Lifestyle.”

Annual report 2024A · The company itself

“These competing products may take a larger share of consumer spending than anticipated, which could cause our product sales to fall below expectations. Our titles also compete with other forms of entertainment, such as social media, in addition to motion pictures, television, short-form video, and audio and video products featuring similar themes, online computer programs and other entertainment, which may be less expensive or provide other advantages to consumers.”

Annual report 2026A · The company itself

“We are subject to risks associated with the collaborative online features in our games which allow consumers to post narrative comments, in real time, that are visible to other consumers. From time to time, objectionable and offensive or potentially dangerous consumer content may be posted to a gaming or other site with online chat features or game forums which allow consumers to post comments.”

Annual report 2026A · The company itself

“We are particularly susceptible to market conditions and risks associated with the entertainment industry, which, in addition to general macroeconomic downturns, also include the popularity, price, and timing of our products; changes in consumer demographics; the availability and popularity of other forms of entertainment and leisure; and critical reviews and public tastes and preferences, which may change rapidly and cannot necessarily be predicted.”

Annual report 2026A · The company itself

“We are also increasingly dependent on our ability to develop, enhance, and monetize free‑to‑play games. As such, we are increasingly exposed to the risks of the free‑to‑play business model. For example, we may invest in the development of new free‑to‑play interactive entertainment products that do not achieve significant commercial success, in which case our revenues from those products likely will be lower than anticipated and we may not recover our development costs.”

Annual report 2026A · The company itself

“An increased percentage of our operations consists of mobile gaming. The number of people using mobile Internet-enabled devices has increased dramatically over time, and we expect that this trend will continue.”

Annual report 2026A · The company itself

“Our strategy is to create hit entertainment experiences, delivered on every platform relevant to our audience through a variety of sound business models. Our pillars - creativity, innovation, and efficiency - guide us as we strive to create the highest quality, most captivating experiences for our consumers.”

Annual report 2026A · The company itself

“We have a diverse portfolio that spans all key platforms and numerous genres, including action, adventure, family, casual, hyper-casual, role-playing, shooter, social casino, sports, and strategy.”

Annual report 2026A · The company itself

“Our Businesses We derive substantially all of our revenue from the sale of our interactive entertainment content, which includes internally developed software titles and software titles developed by third parties, in-game virtual items and advertising, and live services on console, mobile, and PC.”

Annual report 2026A · The company itself

“Our 2K label publishes a variety of popular entertainment properties across all key platforms and across a range of genres including shooter, action, role-playing, strategy, sports, and family/casual entertainment.”

Annual report 2026A · The company itself

“Our Zynga label publishes popular free-to-play mobile games that deliver high quality, deeply engaging entertainment experiences and generates revenue from in-game sales and advertising.”

Annual report 2026A · The company itself

“We derive a significant portion of our revenue from the sale of products made for video game platforms manufactured by third parties, such as Sony's PlayStation consoles and Microsoft's Xbox consoles, which comprised 39.0% of our net revenue by product platform for the fiscal year ended March 31, 2026.”

Annual report 2026A · The company itself

“In the fiscal year ended March 31, 2026, we derived 91.0% of our mobile revenue on Apple and Google platforms.”

Annual report 2026A · The company itself

“In some of our games, such as CSR Racing 2, Dragon City, Empires & Puzzles, FarmVille 3, Golf Rival, Harry Potter: Puzzles & Spells, Merge Dragons!, Merge Magic!, Monster Legends, NBA 2K, Top Eleven, WWE 2K, and Zynga Poker, certain mechanics may be deemed as “loot boxes.””

Annual report 2026A · The company itself

“We also derive significant revenues from distribution on third‑party mobile and web platforms, such as the Apple App Store, the Google Play Store, and Facebook, which are also our direct competitors and, in some cases, the exclusive means through which our content reaches gamers on those platforms, and most of the virtual currency we sell is purchased using these platform providers’ payment processing systems.”

Annual report 2026A · The company itself

“Additionally, our players generally need to access the Internet and in particular platforms such as the Apple App Store, the Google Play Store, Facebook, Snapchat or our website to play our mobile games. Companies and governmental agencies could block access to, impose restrictions on or require a license for any platform, our website or mobile applications for a number of reasons such as security or confidentiality concerns or regulatory reasons which may include, among other things, governmental restrictions on certain content in a particular country, requirements to establish a local presence in a particular jurisdiction, and a requirement that player information be stored on servers in a country within which we operate.”

Annual report 2026A · The company itself

“The shift towards digital engagement has become increasingly important, with increased use of social media platforms by our brand representatives, influencers and our employees. Actions taken by our partners on social media that do not show our brands in a manner consistent with our desired image or that are damaging to such partner’s reputation, whether or not through our brand social media platforms, could harm our brand reputation and materially impact our business.”

Annual report 2026A · The company itself

“Vår omsättningstillväxt och underliggande EBITDAaL-tillväxt avtog under andra halvåret 2024, påverkad av migreringen av våra Boxer-kunder.”

Annual report 2024A · The company itself

“De svenska verksamheterna förväntas fortsätta växa, där konsument - verksamheten i Sverige drivs av nya erbjudanden och tjänster, vilket balanserar den förväntade motvinden från avvecklingen av Boxer och marksänd TV.”

Annual report 2024A · The company itself

“Ett annat viktigt strategiskt steg var vårt beslut att fasa ut det mark - bundna TV-nätet. Även om detta ledde till kortsiktigt kundbortfall var det rätt beslut på lång sikt, både för kundupplevelsen och för vår lönsamhet.”

Annual report 2024A · The company itself

“Vi tror att TV kommer fortsätta spela en viktig roll i vår verksam - het, och vår roll som aggregator av utmärkt innehåll fortsätter att vara relevant då innehåll blir alltmer fragmenterat över olika tjänster och produkter. För att bättre tillgodose förändrade beteenden och tittartrender hos våra kunder förstärktes både den fristående strea - mingtjänsten Tele2 Play+ och den motsvarande kombinerade linjära streamingtjänsten avsevärt genom tillägget av Disney+ under 2024, utöver Viaplays streamingtjänster från tidigare år.”

Annual report 2024A · The company itself

“Skydda barn i ett uppkopplat samhälle Till 2026 kommer Tele2 att ses som marknadsledaren när det gäller att stärka möjligheter för och skydda barn online genom att utveckla verktyg genom partnerskap, implementera nya tekniska lösningar och driva beteende-förändringar för att hålla barn säkra online.”

Annual report 2024A · The company itself

“Några av de nya och uppdaterade målen inkluderar att samla in 100 000 mobiltelefoner till 2026 och att öka blockeringen av försök att komma åt material med sexuella övergrepp på barn med 10%. • Tele2 uppgraderade Boxer TV-tjänsten genom att ersätta programkort med den nya WiFi-baserade TV-lösningen TV Hub Mini, inför den planerade avvecklingen av marksänd TV efter 2024. • Tele2 och The Walt Disney Company ingick ett avtal för att ge Tele2:s kunder mer underhållning genom Disney+.”

Annual report 2024A · The company itself

“Verksamheten består av tre huvudsegment, även kallade affärsområden, samt ett fjärde segment som främst är verksamt inom outsourcade TV och videosändningstjänster. Ericsson har cirka 94 (100) tusen anställda i omkring 110 länder, varav 38 (39) tusen i Europa och Centralasien, 23 (23) tusen i Sydasien, 14 (16) tusen i Ostasien och Stillahavsområdet, 10 (11) tusen i Nordamerika, 6 (7) tusen i Latinamerika och Karibien, 2 (3) tusen i Mellanöstern och Nordafrika samt 1 (1) tusen i Afrika söder om Sahara.”

Annual report 2024A · The company itself

“Användet av olagliga tv- och streamingtjänster fortsätter att vara ett problem.”

Annual report 2024A · The company itself

“Se not K30. • Den 25 februari 2025 tillkännagav Telia Company att bolaget ingått ett avtal om att sälja sin Tv och Media-verksamhet till Schibsted Media till ett försäljningspris motsvarande ett kassa- och skuldfritt rörelsevärde (enterprise value) om 6,55 GSEK.”

Annual report 2024A · The company itself

“Justerat rörelseresultat ökade till 12 628 MSEK (10 862) främst drivet av ökad justerad EBITDA i både telekomverksamheten och Tv och Media samt från lägre av- och nedskrivningar i främst Övrig verksamhet.”

Annual report 2024A · The company itself

“Detta visades bland annat genom lanseringen av Telia Tracking, en positionstjänst för vårdsektorn som håller koll på medicinsk utrustning, och från att Disney+ och Prime Video adderades till Telias snabbt växande tv-tjänst, vilken återigen hamnade i topp i SKIs (Svenskt Kvalitetsindex) årliga undersökning kring svensk kundnöjdhet.”

Annual report 2024A · The company itself

“Telia gjorde även betydande framsteg när det gäller att förbättra sitt erbjudande till sina konsumentkunder och lanserade som ett exempel på det ett nytt mobilabonnemang innehållande obegränsad data med streamingtjänsten Viaplay Total. Telia blev även den första operatören i Norge att inkludera Prime Video i sitt tv-erbjudande.”

Annual report 2024A · The company itself

“Intäktsökningen för mobila tjänster var hänförlig till en växande ARPU och abonnemangsbas, 36Vår verksamhet Vår strategi Förvaltningsberättelse Hållbarhetsrapport Räkenskaper Övrigt Tjänsteintäkterna på jämförbar bas ökade 0,4% då en ökning om 7,1% för tv-intäkterna delvis motverkades av främst en minskning om 2,9% för annonsintäkterna till en följd av en svag marknad för linjära annonser i Sverige.”

Annual report 2024A · The company itself

“Intäkter varav tjänsteintäkter (externa) förändring (%) jämförbar bas 0,4 Justerad EBITDA 313 -225 -239,2 Marginal (%) 3,8 -2,8 Justerat rörelseresultat -449 -1 123 -60,0 CAPEX exklusive kostnader för licenser, frekvenser och nyttjanderättstillgångar 166 185 -10,4 TV (SVOD) 887 802 10,6 Anställda 1) Omräknat, se not K1.”

Annual report 2024A · The company itself

“Telia verkar på sex geografiska marknader och har ett brett utbud av produkter och tjänster inom telekommunikation, IT och media.”

Annual report 2024A · The company itself

“Teradyne’s automated test systems are used to test semiconductors, wireless products, data storage, silicon photonics, and complex electronics systems in many industries including consumer electronics, wireless, automotive, industrial, computing, communications, and aerospace and defense industries.”

Annual report 2025A · The company itself

“Genom fantastiska produkter, inspirerande visuellt material, både eget och från våra ambassadörer och passionerade användare, visar vi att Thule är både ett urbant varumärke och ett friluftsvarumärke.”

Annual report 2023A · The company itself

“varetager koncerter og forestillinger, aktiviteter i Salene (både egne produktioner og udlejninger), Pantomimeteatret, Tivoli- Garden og Tivoli Balletskole.”

Annual report 2025A · The company itself

“Design win för MR-headset till Play for Dream Tobiis XR5-teknologi har valts ut som exklusiv eyetracking-leverantör till Play For Dreams nya mixed-reality-headset och förbättrar visning och beräkningsprestanda genom så kallad dynamisk foveated rendering. Headsetet ska enligt plan lanseras i USA och Kina i mars 2025 och stödjer Tobii Ocumen som möjliggör avancerade VR-applikationer inom undervisning, hälsovård och forskning.”

Annual report 2024A · The company itself

“Tobiis teknologi kan integreras i olika enheter och produkter såsom glasögon, headsets, datorer, speltillbehör, kommunikationshjälpmedel, medicinsk utrustning och förarövervakningssystem.”

Annual report 2024A · The company itself

“Products & Solutions förser företagskunder, akademiska institutioner och konsumenter med eyetracking-lösningar, inklusive hårdvara, mjukvara och tjänster. Användningsområdena sträcker sig från avancerad forskning och branschspecifika insikter till engagerande gamingupplevelser och optimering av annonsering.”

Annual report 2024A · The company itself

“Inom gaming och underhållning skapar eyetracking en mer engagerande upplevelse genom interaktion baserad på ögonrörelser, dynamiskt innehåll och naturligare delaktighet.”

Annual report 2024A · The company itself

“Ulta U.S. is directing a growing percentage of its marketing expense towards digital, social media, and streaming advertising to drive effective communication with existing guests and consideration amongst those who have not yet shopped with Ulta U.S. In social media channels, influencers and affiliates play an important role in beauty, and Ulta U.S engages talent from the UB Collective, its annual class of influencers, Ulta Beauties, its associate ambassador program, and UB Creates, its affiliate program, to support its social media marketing efforts.”

Annual report 2026A · The company itself

“Vuoden lopulla United Bankers laajensi toimintaansa myös ammattiurheilijoille suunnattuun urheilijavarainhoitoon, kun Ammattiurheilusäätiö sr valitsi UB Omaisuudenhoidon urheilijarahastonsa uudeksi varainhoitajaksi.”

Annual report 2025A · The company itself

“UPM Communication Papers offers an extensive product range of sustainably produced graphic papers for advertising and publishing as well as home and office uses. The business has 8 efficient paper mills in Europe and the United States.”

Annual report 2025A · The company itself

“UPM's broad product range includes pulp, graphic and specialty papers, self-adhesive labels, renewable wood-based biochemicals, diesel and naphtha, CO2-free electricity, plywood, and timber products.”

Annual report 2025A · The company itself

“The majority of UPM’s revenue comes from sales of graphic and specialty papers, pulp and label materials, and UPM principally competes with several large multinational paper and forest product companies as well as with numerous regional or more specialized competitors.”

Annual report 2025A · The company itself

“The majority of UPM's revenue came from sales of graphic and specialty papers to publishers, retailers, printing houses, merchants and distributors, converters and label stock manufacturers; sales of self-adhesive label materials to label printers and brand owners and sales of pulp products to tissue, board, specialty and graphic paper producers.”

Annual report 2025A · The company itself

“However, this growth was partially offset by a decline in advertising revenues, impacted by the challenging macroeconomic climate and the negative effects of the separation from the news media operations.”

Annual report 2024A · The company itself

“Advertising revenues and the Jobs vertical are particularly affected by these variables.”

Annual report 2024A · The company itself

“Visa Marketing Services offers a full suite of solutions that spans across the entire campaign lifecycle. This includes research, strategy, campaign design, execution and measurement. We bring customized solutions to Visa clients with unique activation opportunities with Visa’s sponsorships, and we utilize our data analytics and understanding of consumers’ transactional behavior to provide marketing solutions designed to deliver effective results, drive brand preference and influence consumer behavior.”

Annual report 2025A · The company itself

“Bidtheatres programmatiska annonsplattform hjälper byråer och varumärken i Sverige och Norge att optimera medieköp över desktop, mobil, TV och digitala out-of-home-kanaler. Deras köpplattform stödjer annonsformat som banners, video och inbyggda annonser och når målgruppen exakt, baserat på beteende, sammanhang och användardata.”

Annual report 2024A · The company itself

“FI 2019 55 90 % Vitec Bidtheatre Mediebyråer i Sverige och Norge.”

Annual report 2024A · The company itself

“NO 2011 138 97 % Vitec Memorix Arkiv, digitalt kulturarv och samlingar i Benelux-regionen.”

Annual report 2024A · The company itself

“NL 2021 105 99 % Vitec Visiolink Mediebolag i Europa.”

Annual report 2024A · The company itself

“Grundprincipen bakom allt vi gör är, och måste alltid vara, säkerhet.” Denna princip gjorde vårt varumärke synonymt med säkerhet och är lika relevant i dag som någonsin tidigare.”

Annual report 2024A · The company itself

“In addition, we employ or contract with talent who may have loyal audiences. These individuals are important to audience endorsement of our programs and other content.”

Annual report 2025A · The company itself

“Uses of Cash Our primary uses of cash include the creation and acquisition of new content, business acquisitions, income taxes, personnel costs, costs to develop and market our enhanced streaming service HBO Max, principal and interest payments on our outstanding senior notes, funding for various equity method and other investments, and repurchases of our capital stock. •Content Acquisition We plan to continue to invest significantly in the creation and acquisition of new content, as well as certain sports rights.”

Annual report 2025A · The company itself

“Discovery is a leading global media and entertainment company that creates and distributes a differentiated and comprehensive portfolio of content and products across television, film, streaming, interactive gaming, publishing, themed experiences, and consumer products through brands including: Discovery Channel, HBO Max, CNN, DC Studios, TNT Sports, HBO, Food Network, TLC, TBS, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Games, Adult Swim, Turner Classic Movies, and others.”

Annual report 2025A · The company itself

“Streaming WBD’s Streaming segment includes our streaming services, such as HBO Max and discovery+, premium pay-TV services, such as HBO, and certain premium sports streaming products. Our streaming services are available on most mobile and connected TV devices. As of December 31, 2025, we had 131.6 million Streaming subscribers1.”

Annual report 2025A · The company itself

“Studios WBD’s Studios segment includes the Warner Bros. Motion Picture Group (“WBMPG”), DC Studios, Warner Bros. Television Group (“WBTVG”), Consumer Products, Themed Entertainment and Brand Licensing, DC Comics Publishing, Content Licensing, Home Entertainment, Studio Operations, and Interactive Gaming. WBMPG is comprised of Warner Bros.”

Annual report 2025A · The company itself

“Global Linear Networks WBD’s Global Linear Networks segment includes general entertainment, lifestyle, and news networks in the U.S., as well as a host of international media networks and global sports networks. General and lifestyle entertainment networks in the U.S. include TNT, TBS, Turner Classic Movies, OWN, HGTV, Food Network, TLC, Discovery Channel and Adult Swim, among many others. In 2025, our portfolio of networks commanded a monthly average of over 140 million total viewers and delivered 17 of the 25 highest-rated unscripted freshman or limited series among Adults 25-54.”

Annual report 2025A · The company itself

“Programming services like ours, and the distributors of our services, including cable operators, satellite operators and other multi-channel video programming distributors, are regulated by U.S. federal laws and regulations issued and administered by various federal agencies, including the FCC, as well as by state and local governments, in ways that affect the daily conduct of our video content business.”

Annual report 2025A · The company itself

“We are a global media and entertainment company, and piracy or other infringement of our intellectual property (including digital content, feature films, television programming, gaming, and other content), brands and other intellectual property has the potential to materially adversely affect us.”

Annual report 2025A · The company itself

“Content revenues are generated from the release of feature films for initial exhibition in theaters, production of programs licensed for initial television/SVOD exhibition, the additional licensing of feature films and television programs to various television, SVOD and other digital markets, distribution of feature films and television programs in the physical and digital home entertainment market, sales of console games and mobile in-game content, sublicensing of sports rights, and licensing of intellectual property such as characters and brands.”

Annual report 2025A · The company itself

“We operate in highly competitive global media and entertainment industries in which we compete for viewers, distribution, and advertising spend.”

Annual report 2025A · The company itself

“Our continued success depends in part on our ability to adapt to a rapidly changing media environment, including our reliance on social media and 12 Table of Contents online advertising campaigns, and more recently the growing use of artificial intelligence (“AI”) and generative AI, as well as changes to consumer behavior based on these new technologies.”

Annual report 2026A · The company itself

“In addition, changes to algorithms, pricing models, data access or other policies of key digital platforms on which we rely could adversely affect traffic, conversion, customer acquisition costs or overall marketing efficiency.”

Annual report 2026A · The company itself

“We use various forms of advertising, including print, catalog and digital channels, to drive sales and traffic to our e-commerce sites and retail stores.”

Annual report 2026A · The company itself

“The Worklife Services segment includes staff leasing services, accounting services, consulting services, exhibition, event, and space design services both internationally and domestically, as well as solutions and services for office and professional printing and document management.”

Annual report 2025A · The company itself

“Our inability or failure to recognize, respond to and effectively manage the increased impact of social media could adversely impact our business and/or growth prospects. There has been a marked increase in the use of social media platforms and websites, including blogs, chat and messaging platforms, video-sharing platforms, and other forms of Internet-based communications which allow individuals access to a broad audience. The rising popularity of social media and other consumer-oriented technologies has increased the speed and accessibility of information dissemination and given users the ability to more effectively organize collective actions such as boycotts and other brand-damaging behaviors.”

Annual report 2025A · The company itself

“Failure by our Concepts or Concepts’ franchisees to use social media effectively or appropriately, particularly considering the global environment we operate in or as compared to our Concepts’ competitors, could lead to a decline in brand reputation, customer visits and revenue. Social media is also increasingly used to compel companies to express public positions on issues and topics not directly related to their core business, which could prove controversial or divisive to consumers and result in lost sales or a misallocation of resources.”

Annual report 2025A · The company itself

“In addition, any decisions we may make to collaborate or cease to collaborate with certain endorsers or marketing partners in light of actions taken or statements made by them could seriously harm our brand image with consumers, and, as a result, could have an adverse effect on our reputation and financial results.”

Annual report 2025A · The company itself

“In June 2023, a short seller published reports that contained certain negative and false allegations regarding our business and financial prospects.”

Annual report 2025A · The company itself

“Social media is increasingly being used to communicate about our products and the diseases our therapies are designed to treat. Social media practices in the biopharmaceutical industry continue to evolve and regulations relating to such use are not always clear and create uncertainty and risk of noncompliance with regulations applicable to our business.”

Annual report 2025A · The company itself

“To the extent mobile devices or platforms enable users to block advertising content, our advertising revenue and ability to market our brands may also be negatively affected.”

Annual report 2025A · The company itself

“The effect of negative publicity could be exacerbated to the extent dissatisfaction with, or complaints concerning, us either originate or are rapidly disseminated via social media platforms and we are unable to stem, correct, or counter the messaging.”

Annual report 2025A · The company itself

“Additionally, we have various long-term non-cancelable commitments for advertising, sponsorships and promotions, including marketing at sports arenas, stadiums and other venues and events.”

Annual report 2025A · The company itself