Summary

January – March 2026 in brief

• Net sales amounted to EUR 39,6 million (EUR 37,7 million), an increase of 5,1% (at comparable exchange rates increase of 2,6%).
• Adjusted EBITDA was EUR 13,5 million (EUR 12,4 million), an increase of 8,5% (at comparable exchange rates increase of 6,4%).
• Adjusted EBITDA margin was 34,1% (33,0%), an increase of 1,1 pp (at comparable exchange rates increase of 1,2 pp).
• Adjusted EBIT was EUR 10,6 million (EUR 9,5 million), an increase of 12,1% (at comparable exchange rates increase of 10,3%).
• Operating profit (EBIT) was EUR 7,6 million (EUR 5,2 million).

In January – March 2026, the items affecting comparability amounted to EUR -1,1 million
(EUR -2,3 million), including mainly restructuring and IT infrastructure consolidation related costs.

In January – March 2026, the amortization from fair value adjustments amounted to EUR -1,9 million (EUR -2,0 million).

Future outlook and guidance (unchanged from 13 February 2026)

Macroeconomic and geopolitical uncertainties are expected to persist into 2026. The Swedish regulatory environment, especially recent and upcoming changes affecting loan brokers, continue to present risks for Enento. Despite these challenges, our business volumes stabilized in 2025, and we anticipate a return to a growth trajectory in 2026. There are encouraging signs of a gradually improving macroeconomic landscape in Sweden, while the development in Finland is expected to remain more modest. We expect a stable demand for mortgage and unsecured loans and continued healthy demand for business information services.

Enento is focused on improving Adjusted EBITDA and strengthening free cash flow through disciplined cost control, while simultaneously investing in future competitiveness and growth opportunities.

Enento Group expects that in 2026, with comparable exchange rates, its net sales will grow by 0-5% and Adjusted EBITDA will increase compared to 2025.

Teppo Paavola, CEO

Enento had a strong start to the year, with both net sales and profitability improving year-over-year, although the macroeconomic environment across our markets continued to be challenging. Increased geopolitical tensions added to overall uncertainty and consumer confidence continued to decline in Finland but was stabilizing in Sweden. Despite the challenging market backdrop, we witnessed growth in all our reporting segments: net sales grew by 2,6% at comparable exchange rates and amounted to EUR 39,6 million (EUR 37,7 million), demonstrating the resilience of Enento’s business.

In the beginning of March, we announced Enento’s transition to country‑based operating model to strengthen commercial accountability, enhance customer proximity, and clarify end‑to‑end profit‑and‑loss ownership across our markets. Under the new structure, Finland and Sweden will operate as separate units, while Norway and Denmark will form a combined country organization. Starting with this quarterly review, we restate our reporting to reflect the new model. The organizational update brought changes to Enento’s Executive Management Team, including the appointment of Country Managing Directors and a new Chief Product Officer to harmonize product development across our markets, as well as the departure of three former leadership team members. Group‑wide functions will continue to support Enento’s Nordic synergies.

Finland delivered solid performance despite the weak macroeconomic environment with sales growth of 2,3% at comparable rates. Consumer credit information volumes developed positively with new customers entering the market. The strong growth in net sales of real estate and apartment information services was supported by good demand and new services. We see good traction in this area also going forward.

In Sweden, sales grew by 2,2% at comparable rates. Consumer credit volumes continued stabilizing, and development was good especially towards the end of the quarter although geopolitical uncertainty and inflation still impacted consumer confidence. Real estate services delivered strong growth, supported by healthy demand and some larger one‑off transactions. Compliance services continued to develop positively, with new deals closed and a growing pipeline. The compliance service offering has been further strengthened following the launch of a new beneficial ownership data tool. The SME transformation in Sweden is progressing well, and we are now renewing subscriptions fully digitally, with an acceptable churn.

Norway & Denmark had a strong quarter with sales growth of 8,3% at comparable rates. In Norway, growth was primarily driven by data sales and Premium services while the advertising market was more turbulent. Norway is transitioning from a primarily tele sales driven model towards digital sales, improving customer access and supporting profitability over time. In Denmark, strong growth continued in Freemium.

Group Adjusted EBITDA increased by 6,4% at comparable rates and reached EUR 13,5 million (EUR 12,4 million), resulting in an Adjusted EBITDA margin of 34,1% (33,0%). Profitability improved, supported by cost savings in materials and services and higher capitalized development activity from increased production for own use. The improvement was partially offset by higher personnel and IT‑related costs. Free cash flow improved and landed at 11,1 million (7,0 million), resulting in a cash conversion of 90,0% (84,4%).

Artificial Intelligence (AI) is rapidly reshaping the data‑intelligence industry, and Enento is well-positioned to benefit from this transformation thanks to our extensive proprietary datasets and trusted market position. We are integrating AI across three core areas: Smarter Services, Smarter Data and Smarter Operations. Smarter Services focuses on enabling next‑generation data-driven products, service personalization, decision automation and fast prototyping. Smarter Data leverages AI to strengthen our ability to process unstructured data and automate data‑quality improvements. Smarter Operations aims to improve productivity across the company, as AI accelerates development, automates internal workflows, reduces infrastructure costs, and supports customer service and sales management. AI adoption is advancing across Enento guided by oversight from the Executive Management Team, ensuring alignment with our strategic priorities.

Looking ahead, while the macroeconomic and regulatory environment remains uncertain, we are encouraged by the stabilization of our business volumes and the progress we have made in strengthening Enento’s operating model and execution capabilities. The transition to a country‑based organization, together with disciplined cost management and accelerated development of AI capabilities, positions us to improve competitiveness and unlock growth. We therefore reiterate our 2026 guidance of 0–5% net sales growth and an improvement in Adjusted EBITDA, and remain fully committed to creating long‑term value for our customers, employees and shareholders.

Webcast

Webcast for analysts, investors and media will be arranged on 28 April 2026, starting at 14:00 (EET). During the webcast, Teppo Paavola, CEO; Elina Stråhlman, CFO; Arto Paukku, Country Managing Director Finland; and Carl Brynielsson Country Managing Director Norway & Denmark and Interim Contry Managing Director Sweden, will deliver a presentation on the results. The webcast will be conducted in English.

The webcast can be followed at: https://enento.events.inderes.com/q1-2026.

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