SUMMARY

July – September 2025 in brief

• Net sales amounted to EUR 37,3 million (EUR 36,8 million), an increase of 1,3% (at comparable exchange rates decrease of 0,1%).
• Adjusted EBITDA was EUR 13,5 million (EUR 13,8 million), a decrease of 2,1% (at comparable exchange rates decrease of 3,3%).
• Adjusted EBITDA margin was 36,2% (37,5%), a decrease of 1,3 pp (at comparable exchange rates decrease of 1,2 pp).
• Adjusted EBIT was EUR 10,7 million (EUR 10,9 million), a decrease of 2,1% (at comparable exchange rates decrease of 3,2%).
• Operating profit (EBIT) was EUR 8,2 million (EUR 7,2 million).

January – September 2025 in brief

• Net sales amounted to EUR 113,6 million (EUR 112,6 million), an increase of 0,9% (at comparable exchange rates decrease of 0,3%).
• Adjusted EBITDA was EUR 39,0 million (EUR 40,3 million), a decrease of 3,4% (at comparable exchange rates decrease of 4,4%).
• Adjusted EBITDA margin was 34,3% (35,8%), a decrease of 1,5 pp (at comparable exchange rates decrease of 1,5 pp).
• Adjusted EBIT was EUR 30,4 million (EUR 31,2 million), a decrease of 2,7% (at comparable exchange rates decrease of 3,6%).
• Operating profit (EBIT) was EUR 18,3 million (EUR 20,2 million).
• The Board of Directors has on 28 October 2025 decided on the basis of the authorization by the Annual General Meeting 2025, to pay a second installment of dividend of EUR 0,50 per share with a record date of 6 November 2025 and payment date of 27 November 2025. The first dividend installment of EUR 0,50 per share was paid on 8 April 2025.

In July – September 2025, the items affecting comparability amounted to EUR -0,6 million (-1,8 EUR million) and in January – September 2025, the items affecting comparability amounted to EUR -6,1 million (-4,8 EUR million), including mainly IT infrastructure consolidation related costs.

In July – September 2025, the amortization from fair value adjustments amounted to EUR -2,0 million
(EUR -1,9 million) and in January – September 2025 to EUR -5,9 million (EUR -6,1 million).

¹ Previously reported Comparable earnings per share have been restated and renamed to Adjusted earnings per share by excluding in addition to fair value adjustments related to acquisitions also items affecting comparability and reduction in value of associated company as well as their tax impact. The restated quarterly information is disclosed in Note 1 Alternative performance measures.

FUTURE OUTLOOK AND GUIDANCE (unchanged from 14 february 2025)

There are signs of a gradually improving macroeconomic situation and stabilization in the demand for mortgage and unsecured loans, and the demand for business information services remains good. However, the Swedish consumer credit market is facing structural changes and new regulatory developments. These are expected to impact Enento’s operating environment and financial performance in 2025. Enento remains focused on maintaining profitability and strengthening free cash flow through disciplined cost control, while simultaneously investing in future competitiveness and growth opportunities.

Enento Group expects that 2025 net sales will be around EUR 150-156 million and Adjusted EBITDA will be around EUR 50-55 million.

The guidance assumes that exchange rates remain at the current level.

ELINA STRÅHLMAN, INTERIM CEO

Our operating environment and business performance remained largely similar to the trends seen earlier this year, though we started to see positive signs in some external indicators. Consumer confidence remained low across the Nordic region but started to show signs of recovery and household sentiment regarding personal finances is becoming more optimistic. Our net sales amounted to EUR 37,3 million (EUR 36,8 million), representing a slight decrease of 0,1% at comparable exchange rates. Business Insight’s sales grew whereas Consumer Insight’s sales declined slightly. We witnessed growth in Finland, Norway and Denmark, while sales in Sweden declined due to continued weak volumes in consumer credit information. We continued to implement several growth and efficiency actions aligned with our strategy.

Our Adjusted EBITDA reached EUR 13,5 million (EUR 13,8 million), representing a decline year-over-year but continuous improvement quarter-over-quarter. This resulted in an Adjusted EBITDA margin of 36,2% (37,5%). Profitability was supported by a more stable topline and higher production for own use, as we have been able to shift more development capacity to new services, following the completion of the IT infrastructure consolidation project. The margin continued to be pressured by sales mix, price increases impacting data acquisition costs as well as cost and salary inflation. These impacts were partially offset by efficiency actions and savings.

Business Insight had a solid quarter with net sales growth of 0,9% at comparable exchange rates. Compliance and real estate information services continued to grow strongly thanks to increasing volumes and new services, whereas we faced headwinds in Premium sales for SMEs. The Swedish SME transformation is proceeding according to plans, and we have started small-scale testing of digital customer subscription renewals. The aim is to gradually transition towards a subscription-based business model, leading to increased share of recurring revenue, lower customer acquisition costs and improved customer experience.  

Consumer Insight net sales declined by 1,4% at comparable exchange rates, with growth in Finland and decline in Sweden. In consumer credit information services Sweden, the loan broker segment continued to be pressured by challenging operating environment and regulatory uncertainty. However, the loan broker-related volumes have shown signs of stabilization during this year. We proceeded our expansion in new customer verticals and started on-boarding another major telecom customer in Sweden. In Finland, the consumer credit market has become slightly more active, and we continued to work on commercial opportunities with several financial sector customers that are considering re-entering the market. We also launched a new Consumer ESG Segmentation service for sales and marketing purposes.

The launch of an AI-enabled Customer Experience Insight tool in Q3 marks an important step in our journey of keeping customers first. By leveraging advanced analytics, we gain actionable insights into our strengths and areas for improvement, enabling us to deliver even greater value and responsiveness to our clients. High customer satisfaction, reflected in strong NPS scores across both B2B (38) and B2C (37), demonstrates the trust our customers place in our expertise, product reliability, and service quality. This tool empowers us to proactively address customer needs, enhance the clarity and accessibility of our offerings, and accelerate innovation, especially in AI-driven solutions. Ultimately, this initiative strengthens Enento’s competitive edge and supports our commitment to building lasting, customer-centric relationships that drive sustainable business growth.

As we approach the final quarter of 2025, we are encouraged by early signs of macroeconomic recovery. Demand for our Business Insight services continues to be solid, and in Consumer Insight, we are seeing stabilization in credit information volumes. We also remain committed to maintaining profitability and strengthening free cash flow through disciplined operational efficiency. At the same time, we continue to invest in future competitiveness and growth opportunities. Importantly, we remain dedicated to delivering attractive returns to our shareholders. In line with our dividend policy, the Board has decided to pay a second dividend installment for 2024 amounting to 0,50 euro per share, reflecting our ongoing commitment to delivering shareholder value.

WEBCAST

Webcast for analysts, investors and media will be arranged on 29 October 2025, starting at 11.00 am EET. Interim CEO Elina Stråhlman will present the results in English.

The webcast can be followed at: https://enento.events.inderes.com/q3-2025.

The presentation material and the webcast recording will be available on Enento’s investor website.