Interim financial
report Q2 2026
August 27, 2026
Executive
Summary
Business & Regional
Performance Review
Financial
Outlook
Other Events &
Contact
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statements
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 2 of 22
EXECUTIVE SUMMARY
Q2 PERFORMANCE ON TRACK – STRATEGY UPDATE SETTING DIRECTION FOR
TRANSFORMATION
Q2 2026 key highlights
• NNIT's financial performance was in line with initial expectations, despite continued customer
caution, particularly within the life science segments. However, order entry improved during the
quarter across all regions, supported by targeted growth initiatives aimed at strengthening sales
execution. Reported group revenue declined 4.5% to DKK 441.6m, corresponding to constant currency
revenue growth of -4.4%. The decline was primarily driven by the life science regions, while Public DK
and SCALES delivered solid growth contributions.
• Group EBIT excl. special items came in at DKK 21.4m in the second quarter, corresponding to a margin
of 4.8% which remained broadly stable year-over-year, reflecting the impact of cost-reduction initiatives
launched during last year, supplemented by further actions taken during this year to align capacity with
demand and streamline general and administrative expenses. In addition, Region US returned to its
strong profitability level, contributing to the sequential improvement in group margins.
• The full-year financial outlook for 2026 is maintained. Constant currency revenue growth is expected
to be single-digit negative with group EBIT margin excl. special items of 4-7% and special items being
“below last year’s level of DKK 83m”.
During the second quarter, NNIT delivered improved operational performance, reflecting the impact of
efficiency initiatives launched during the quarter and in the preceding quarter. Utilization improved significantly
and NNIT saw increased traction with customers on new project engagements, although customer hesitancy
remained pronounced among tier-1 Life Sciences customers in particular.
NNIT’s new AI frameworks (Lumina and Alera) were applied across select customer engagements, delivering
strong initial results. Early use cases demonstrate tangible efficiency gains, including material reductions in
time-to-delivery and accelerated analysis of complex legacy systems, ultimately enabling faster and better-
informed decision-making for customers. These initial results enable NNIT to become more competitive.
Beyond AI being deployed to customer projects, NNIT’s AI offering is being included in upcoming bids either as
a service or as part of the process depending on the project scope.
Moreover, Alera has been moved from launch into broader internal adaptation across NNIT. Alera is being
deployed to accelerate standardized tasks from CV search, HR-related enquires to support managers with
follow-up on ongoing activities, amongst others.
Despite the sequential performance improvements, a strategic review conducted during the quarter confirmed
that further transformative actions are required to restore sustainable, profitable growth. Accordingly, NNIT is
continuing its transformative approach by launching a program focused on optimizing, rebuilding and
reshaping commercial, delivery and operational excellence. As part of this work, NNIT will reassess its operating
model and service portfolio. The transformation program will form the foundation for a new strategic direction
leveraging NNIT’s strong existing position. NNIT will aspire to become an innovative, AI-enabled niche specialist
serving the global life sciences industry and regulated industries in Denmark.
Claus Rydkjær, President and CEO of NNIT, comments “During the second quarter, business performance
improved quarter-over-quarter, reflecting the impact of our targeted growth initiatives and cost reductions
progressing as planned. Despite the decline in revenue, profitability was broadly in line with last year.
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 3 of 22
Towards the end of the quarter, we concluded a comprehensive review of NNIT’s performance, market position and
future opportunities. The review confirms the strength of our customer relationships and domain expertise, while also
identifying clear opportunities to improve our commercial execution, delivery model and operational efficiency. We
are now moving into the next phase, launching a program aimed at transforming the company performance and
restoring sustainable, profitable growth. In parallel, we are defining NNIT’s future strategic direction which will be
shared at a later stage.”
Financial overview – Selected key figures
NNIT A/S, DKK million
Q2 2026
Q2 2025
6M 2026
6M 2025
FY 2025
Revenue
441.6
462.2
864.1
926.3
1.787.6
Reported revenue growth, %
-4.5%
-2.5%
-6.7%
-1.2%
-3.4%
Constant currency revenue growth, %
-4.4%
-1.7%
-5.8%
-1.3%
-2.8%
Group EBIT excl. special items
21.3
22.9
22.5
40.9
94.2
Group EBIT margin excl. special items, %
4.8%
5.0%
2.6%
4.4%
5.3%
Special items
18.5
20.3
26.8
45.7
83.3
Group EBIT incl. special items
2.8
2.6
-4.3
-4.8
11.2
Group EBIT margin incl. special items, %
0.6%
0.6%
-0.5%
-0.5%
0.6%
Free cash flow
8
-61
49
-134
-47
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 4 of 22
BUSINESS REVIEW
BUSINESS PERFORMANCE TRACKING ACCORDING TO PLAN
Second quarter reported revenue amounted to DKK 441.6m compared with DKK 462.2m same quarter last
year, corresponding to a decline of 4.4% in constant currency revenue growth. However, the sequential trend
improved, driven by a pick-up in order entry, particularly towards the end of the quarter, where all regions saw
increased order intake with multiple new project wins and extensions of existing engagements. Public DK and
SCALES delivered strong growth, while the Life Sciences segments (Europe, US and Asia) remained impacted by
the lower order entry carried over from Q1 and continued customer hesitation.
Group EBIT excl. special items was relatively stable at DKK 21.4m, compared with DKK 22.9m in the same
quarter last year, equal to margins of 4.8% and 5.0%, respectively. The earnings impact of the DKK 21m revenue
shortfall was largely offset through efficiency gains, execution of cost-reduction initiatives, and capacity
adjustments, entailing improved operational leverage. Special items were mainly related to restructuring costs
which ended at DKK 18.5m compared with DKK 20.3m same quarter last year. Group EBIT incl. special items
was DKK 2.8m compared with DKK 2.6m same quarter last year, corresponding to an unchanged margin of
0.6%.
In Q2 2026, free cash flow amounted to DKK 8m compared with DKK -61m in the same period last year. The
improvement was mainly driven by stronger operating cash flow, supported by improved trade receivable
collections, improved customer payment timing and net tax receipts, partly offset by lower trade payables and
increased prepayments related to a larger new transition project.
During the second quarter, NNIT conducted a comprehensive strategic review with external support to assess
the company’s market position, performance and future opportunities.
The review confirms NNIT’s strong position within the pharmaceutical industry, underpinned by deep domain
expertise, high customer satisfaction and long-standing customer relationships. At the same time, it has
identified opportunities to optimize and reshape NNIT’s commercial execution, delivery model and operational
efficiency to improve performance and return the company to sustainable, profitable growth. Based on these
findings, NNIT is initiating a company-wide transformation program focused on commercial, delivery and
operational excellence. The program will address near- and medium-term performance improvements while
also forming the development of NNIT’s future strategic direction.
The strategic review and transformation priorities will form the basis for future strategic direction with further
details to be presented at a later stage.
GROUP FINANCIAL HIGHLIGHTS – SELECTED KEY FIGURES
NNIT A/S, DKK million
Q2 2026
Q2 2025
6M 2026
6M 2025
FY 2025
KEY FINANCIAL HIGHLIGHTS
Reported revenue growth, %
-4.5%
-2.5%
-6.7%
-1.2%
-3.4%
Constant currency revenue growth, %
-4.4%
-1.7%
-5.8%
-1.3%
-2.8%
Group EBIT margin excl. special items, %
4.8%
5.0%
2.6%
4.4%
5.3%
Special items
18.5
20.3
26.8
45.7
83.3
Group EBIT incl. special items
2.8
2.6
-4.3
-4.8
11.2
Group EBIT margin incl. special items, %
0.6%
0.6%
-0.5%
-0.5%
0.6%
Depreciation, amortization and impairment
14.2
21.5
27.9
21.5
45.2
Free cash flow
8
-61
49
-134
-47
OTHER FINANCIAL HIGHLIGHTS
Revenue
441.6
462.2
864.1
926.3
1.787.6
- of which Region Europe
141.8
160.5
284.6
329.0
628.7
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 5 of 22
- of which Region US
77.4
89.2
144.0
176.2
312.7
- of which Region Asia
34.8
37.9
67.1
74.9
152.8
- of which Public DK incl. passthrough
92.7
89.0
180.8
176.9
352.3
- of which SCALES
94.9
85.6
187.6
169.3
341.1
Production cost
339.6
353.5
677.1
697.8
1.340.6
Gross profit
102.0
108.7
187.0
228.5
447.0
Gross margin, %
23.1%
23.5%
21.6%
24.7%
25.0%
Regional overhead cost
34.1
33.6
72.3
78.9
154.9
Regional EBIT
67.9
75.1
114.7
149.6
292.1
Regional EBIT margin, %
15.4%
16.2%
13.3%
16.2%
16.3%
Corporate cost
46.6
52.2
92.2
108.7
197.9
Group EBIT excl. special items
21.3
22.9
22.5
40.9
94.2
Group EBIT margin excl. special items, %
4.8%
5.0%
2.6%
4.4%
5.3%
Special items
18.5
20.3
26.8
45.7
83.3
Group EBIT incl. special items
2.8
2.7
-4.3
-4.8
11.2
Group EBIT margin incl. special items, %
0.6%
0.6%
-0.5%
-0.5%
0.6%
REGIONAL PERFORMANCE REVIEW
Region Europe
Region Europe generated revenue of DKK 141.8m, corresponding to revenue growth of -11.7% and constant
currency revenue growth of -11.9%. The revenue decline was primarily due to the lower order entry generation
in the first quarter and less revenue coming from existing tier-1 customers. In the lower tier segments, Region
Europe continued to expand its presence by engaging with new customers on various projects. The demand
continues to be solid, and more customers being approached for engagements with lesser contract sizes
compared to contracts in the tier-1 segment.
During the quarter, Region Europe ramped up on one of its AI projects with a mid-tier global pharma company,
supporting project delivery and how the customers can work with AI going forward. Moreover, the demand for
AI-solutions have increased to bridge the growing gap between AI potential and regulated deployment. NNIT’s
AI solutions are being implemented into more bids than previously, enabling customers to adapt AI into their
projects and work processes.
Regional EBIT decreased from DKK 26.0m to DKK 15.7m, equal to a change in regional EBIT margin from 16.2%
to 11.1% in Q2 2026. The decline in profitability is a direct result of lower revenue generation which was partly
offset by realization of previously initiated cost-reducing initiatives and capacity adjustments.
Region Europe, DKK million
Q2 2026
Q2 2025
6M 2026
6M 2025
FY 2025
Revenue
141.8
160.5
284.6
329.0
628.7
Reported revenue growth, YoY, %
-11.7%
-13.4%
-13.5%
-8.9%
-10.1%
Constant currency revenue growth, %
-11.9%
-13.3%
-13.8%
-8.9%
-10.2%
Production cost
115.5
126.4
231.6
254.6
486.2
Gross profit
26.3
34.1
53.0
74.4
142.5
Gross margin, %
18.5%
21.2%
18.6%
22.6%
22.7%
Regional overhead cost
10.6
8.1
20.3
25.1
45.6
Regional EBIT
15.7
26.0
32.7
49.3
96.9
Regional EBIT margin, %
11.1%
16.2%
11.5%
15.0%
15.4%
Corporate cost
21.3
18.9
42.4
40.0
71.6
Group EBIT excl. special items
-5.6
7.1
-9.7
9.3
25.3
Group EBIT margin excl. special items, %
-3.9%
4.4%
-3.4%
2.8%
4.0%
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Region US
In the second quarter, Region US has been recovering at a steady pace after two consecutive quarters of
significant revenue contraction. Despite negative constant currency revenue growth of 11.2%, order entry has
started to pick up entailing an improved backlog and pipeline for the rest of the year. Two larger contracts were
signed with global tier-1 pharmaceutical companies in the data migration business. Moreover, Region US has
continued to deliver on specific AI-client engagements during the quarter, and internally working on cases
where NNIT’s AI offerings could be applied in terms of repeatability, scalability, governance and ultimately,
commercialization.
In Q1 2026, Region US completed its first National Drug Code-12 (NDC 12) pilot program. During the second
quarter, US launched further NDC-12 pilot programs with new customers showing solid traction. Revenue for
the quarter amounted to DKK 77.4m, equal to a reported revenue growth of -13.2%.
The region’s profitability has recovered to previous levels due to the initiated cost reductions and improved
utilization during the first quarter. The region has recalibrated its capacity and focused on lowering non-
employee-driven costs in both product and regional overhead. The regional EBIT increased by DKK 3.4m
compared with the same quarter last year to DKK 22.8m, equal to a regional EBIT margin of 29.5% despite
materially lower revenue generation.
Region US, DKK million
Q2 2026
Q2 2025
6M 2026
6M 2025
FY 2025
Revenue
77.4
89.2
144.0
176.2
312.7
Reported revenue growth, YoY, %
-13.2%
1.3%
-18.3%
-2.6%
-9.6%
Constant currency revenue growth, %
-11.2%
4.1%
-13.5%
-2.9%
-7.5%
Production cost
47.1
59.6
100.9
109.7
199.9
Gross profit
30.3
29.6
43.1
66.5
112.8
Gross margin, %
39.1%
33.2%
29.9%
37.7%
36.1%
Regional overhead cost
7.5
10.2
18.4
20.7
42.1
Regional EBIT
22.8
19.4
24.7
45.8
70.7
Regional EBIT margin, %
29.5%
21.7%
17.2%
26.0%
22.7%
Corporate cost
10.2
9.7
20.4
20.1
36.1
Group EBIT excl. special items
12.6
9.7
4.3
25.7
34.6
Group EBIT margin excl. special items, %
16.3%
10.9%
3.0%
14.6%
11.2%
Region Asia
In Q2 2026, Region Asia’s revenue amounted to DKK 34.8m, which is a decline of 8.2% in reported revenue
growth and -10.6% in constant currency revenue growth. The revenue decline was anticipated as the region
has been significantly affected by lower revenue generation from an existing large tier-1 customer.
As in previous quarters, Region Asia has been able to grow its local market customers as part of the renewed
sales focus. Especially, the region sees solid traction with local biotech companies where AI projects are in high
demand.
After the quarter ended, it was announced on 31 July that NNIT has divested its Singapore business with effect
from 1 August. The rationale for the divestment is to increase the focus to the other life science areas where
there are solid opportunities to expand customer engagements across practices. In Q2 2026, revenue from
Singapore amounted to DKK 9.0m, corresponding to 26% of Region Asia’s total revenue. For the first six months,
Singapore revenue accounted for 28% of Region Asia’s revenue.
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The region’s regional EBIT contracted to DKK 1.8m in Q2 2026 compared with DKK 2.7m in the same quarter
last year, corresponding to a regional EBIT margin of 5.2% and 7.1%, respectively. The profitability decline can
be fully attributed to the revenue contraction, which was partially offset by realization of cost reductions.
Region Asia, DKK million
Q2 2026
Q2 2025
6M 2026
6M 2025
FY 2025
Revenue
34.8
37.9
67.1
74.9
152.8
Reported revenue growth, YoY, %
-8.2%
1.6%
-10.4%
8.2%
2.3%
Constant currency revenue growth, %
-10.6%
4.4%
-9.2%
8.2%
5.7%
Production cost
29.3
31.2
56.9
61.4
122.0
Gross profit
5.5
6.7
10.2
13.5
30.8
Gross margin, %
15.8%
17.7%
15.2%
18.0%
20.2%
Regional overhead cost
3.7
4.0
7.4
7.9
15.0
Regional EBIT
1.8
2.7
2.8
5.6
15.8
Regional EBIT margin, %
5.2%
7.1%
4.2%
7.5%
10.5%
Corporate cost
5.3
4.4
10.5
9.1
16.8
Group EBIT excl. special items
-3.5
-1.7
-7.7
-3.5
-1.0
Group EBIT margin excl. special items, %
-10.1%
-4.5%
-11.5%
-4.7%
-0.7%
Public Denmark
In the second quarter, Public DK generated revenue of DKK 92.7m including passthrough and DKK 72.3m
excluding passthrough, equal to a reported and constant currency revenue growth of 10.0%. The uplift in
revenue is primarily driven by new projects ramping up with ATP, the Danish Health Data Authority
(Sundhedsdatastyrelsen) and the Danish Agency for IT and Learning (Styrelsen for IT & Læring). Furthermore,
Public DK has started to see more tender activity after the government in Denmark was formed in early June
following the general election in March this year.
Following the launch of Lumina late in the previous quarter, the AI framework has moved into commercial
application. In Q2, Lumina has been deployed to some customers in the public sector, with initial use cases
delivering promising results. The framework drives measurable efficiency gains by accelerating the analysis of
complex legacy documentation and code. This enables faster and more informed decision-making for
customers. Moreover, Lumina positions NNIT to capture new opportunities by enabling bids on legacy system
transformation, converting standard platforms into tailored solutions for customers in regulated industries.
Regional EBIT increased from DKK 4.2m in Q2 last year to DKK 7.5m in Q2 2026, corresponding to a margin of
6.4% and 10.4%, respectively. The improvement in profitability is driven by leverage from the revenue uplift
and due to the actions taken during Q1 where focus has been on improving operational efficiency and lowering
the cost base.
Public DK, DKK million
Q2 2026
Q2 2025
6M 2026
6M 2025
FY 2025
Revenue
92.7
89.0
180.8
176.9
352.3
- hereof passthrough revenue
20.4
23.3
36.9
43.0
92.6
Revenue excl. passthrough
72.3
65.7
143.9
133.9
259.7
All metrics below exclude passthrough revenue
Reported revenue growth, YoY, %
10.0%
-8.1%
7.5%
-6.6%
-9.1%
Constant currency revenue growth, %
10.0%
-8.1%
7.5%
-6.6%
-9.1%
Production cost
56.4
53.9
112.6
113.1
211.5
Gross profit
15.9
11.8
31.3
20.8
48.2
Gross margin, %
22.0%
18.0%
21.8%
15.5%
18.6%
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Regional overhead cost
8.4
7.6
18.5
14.5
32.3
Regional EBIT
7.5
4.2
12.8
6.3
15.9
Regional EBIT margin, %
10.4%
6.4%
8.9%
4.7%
6.1%
Corporate cost
9.8
19.2
18.9
39.5
73.4
Group EBIT excl. special items
-2.3
-15.0
-6.1
-33.2
-57.5
Group EBIT margin excl. special items, %
-3.2%
-22.8%
-4.2%
-24.8%
-22.1%
SCALES
During the second quarter, SCALES’ revenue amounted to DKK 94.9m, equal to reported- and constant currency
revenue growth of 10.9%. The continued positive revenue development is mainly attributed to expansion of
the customer base through Microsoft D365 services and partly through expansion of existing engagements.
Moreover, the integration of the Microsoft service offerings business from the previously named Region
Denmark has fully transitioned, and the synergy gains are already noticeable.
In Q2 2026, regional EBIT amounted to DKK 20.1m, equal to a regional EBIT margin of 21.2%. The lower
profitability in Q2 2026 compared with the same quarter last year is due to increased usage of sub-contractors
due to internal capacity constraints and some projects with lower profitability compared with previously
completed projects.
SCALES, DKK million
Q2 2026
Q2 2025
6M 2026
6M 2025
FY 2025
Revenue
94.9
85.6
187.6
169.3
341.1
Reported revenue growth, YoY, %
10.9%
24.0%
10.8%
26.4%
27.5%
Constant currency revenue growth, %
10.9%
24.0%
10.8%
26.4%
27.5%
Production cost
70.9
59.1
138.1
116.0
228.4
Gross profit
24.0
26.5
49.5
53.3
112.7
Gross margin, %
25.3%
31.0%
26.4%
31.5%
33.0%
Regional overhead cost
3.9
3.7
7.6
10.7
19.9
Regional EBIT
20.1
22.8
41.9
42.6
92.8
Regional EBIT margin, %
21.2%
26.6%
22.3%
25.2%
27.2%
Corporate cost
0.0
0.0
0.0
0.0
0.0
Group EBIT excl. special items
20.1
22.8
41.9
42.6
92.8
Group EBIT margin excl. special items, %
21.2%
26.6%
22.3%
25.2%
27.2%
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 9 of 22
FINANCIAL OUTLOOK
Full-year financial outlook is maintained
NNIT maintains its full-year financial outlook for 2026 announced on 7 May 2026, cf. Company Announcement
06/2026.
NNIT continues to expect constant currency revenue growth to be single-digit negative, and the Group EBIT
margin excl. special items to be 4-7%. Special items are expected to be “below last-year’s level of DKK 83m”.
Announced on
7 May 2026
Announced on
5 Feb 2026
NNIT A/S
2026 Outlook (current)
2026 outlook (previous)
Constant currency revenue growth, %
Single-digit negative
0-5%
Group EBIT margin excl. special items, %
4-7%
6-9%
Special items, DKKm
Below last year’s level of
DKK 83m
Significantly below last year’s
level of DKK 83m
Forward-looking statements
This announcement contains forward-looking statements. Words such as ‘believe’, ‘expect’, ‘may’, ‘will’, ‘plan’,
‘strategy’, ‘prospect’, ‘foresee’, ‘estimate’, ‘project’, ‘anticipate’, ‘can’, ‘intend’, ‘outlook’, ‘guidance’, ‘target’ and
other words and terms of similar meaning in connection with any discussion of future operating or financial
performance identify forward-looking statements. Statements regarding the future are subject to risks and
uncertainties that may result in considerable deviations from the outlook set forth. Furthermore, some of these
expectations are based on assumptions regarding future events which may prove incorrect.
Please also refer to the overview of risk factors in the ‘risk management’ section on page 24-25 of the Annual
Report 2025.
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 10 of 22
OTHER EVENTS
OTHER IMPORTANT EVENTS AFTER THE REPORTING PERIOD
NNIT solidifies its Asia strategy with increased focus on China
As part of this strategic focus in Asia, NNIT has decided to divest its office in Singapore. NNIT in Singapore has
delivered high customer satisfaction and been growing customer engagements in recent years, particularly
within Manufacturing-related services. However, NNIT has concluded that the opportunities to expand
customer engagements across practice areas such as Clinical, Regulatory Affairs, and Quality Management are
more favorable in mainland China.
Accordingly, NNIT has reached an agreement with local management in Singapore for local management to
take over all business activities in Singapore. Going forward, NNIT will continue to operate its “Region Asia”
business from its locations in mainland China.
CONTACT
CONFERENCE CALL
August 28, 2026, at 9:30 AM CEST:
Webcast link
Dial in information:
DK: +45 7876 8490
SE: +46 31-311 50 03
UK: +44 203 769 6819
US: +1 646-787-0157
Participant Access code: 472855
For more information, please contact:
Investor Relations
Media Relations
Carsten Ringius
EVP & CFO
Tel: +45 3077 8888
carr@nnit.com
Thomas Stensbøl
Press & Communications Manager
Tel: +45 3077 8800
tmts@nnit.com
ABOUT NNIT
NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors
in Denmark.
We focus on high complexity industries and thrive in environments where regulatory demands and complexity
are high.
We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users
or customers.
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 11 of 22
We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to
represent a business first approach – strongly supported by a selection of partner technologies, but always
driven by business needs rather than technology.
NNIT consists of group company NNIT A/S and subsidiaries, including SCALES. Together, these companies
employ around 1,500 people in Europe, Asia and USA.
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 12 of 22
FINANCIAL STATEMENTS
GROUP FINANCIAL OVERVIEW
DKK million
6M 2026
6M 2025
FY 2025
Financial performance
Revenue
Region Europe
285
329
629
Region US
144
176
313
Region Asia
67
75
153
Public DK
181
177
352
Scales
187
169
341
Total revenue
864
926
1,788
EBITDA before special items
51
62
140
Depreciations, amortizations and impairment
28
22
46
Group operating profit before special items
1
23
41
94
Special items, costs
1
27
46
83
Operating profit/loss (EBIT)
-4
-5
11
Net financials
-14
-8
-22
Total net profit/loss for the period
-20
-11
-24
Investments in tangible assets
-6
-20
-26
Investments in intangible assets incl. acquisition of subsidiaries
-13
-16
-30
Total assets
1,501
1,649
1,517
Equity
782
801
786
Dividends paid
0
0
0
Interest-bearing debt. net
2
-268
-389
-311
Total free cash flow for the period
49
-134
-47
Earnings per share
Earnings per share (DKK)
-0.81
-0.44
-0.97
Diluted earnings per share (DKK)
-0.81
-0.44
-0.97
Employees
Average number of full-time employees
Financial ratios
Revenue growth
-6.7%
-1.2%
-3.4%
Gross margin
21.6%
24.7%
25.0%
EBITDA before special items margin
5.8%
6.7%
7.8%
Group operating profit margin before special items
2.6%
4.4%
5.3%
Group operating profit margin
-0.5%
-0.5%
0.6%
Effective tax rate
-11.2%
15.7%
-118.2%
Return on equity
3
-4.2%
-5.5%
-2.9%
Solvency ratio
52.1%
48.6%
51.8%
Return on invested capital (ROIC)
3,4
-3.2%
-3.7%
-0.2%
1) Special items comprise costs that cannot be attributed directly to NNIT's ordinary activities and are non-recurring of nature
2) Net interest-bearing debt defined as Cash and cash equivalents, Derivative financial instruments, Bank overdraft, leasing
Liabilities
3) Financial metrics are moving annual total cost (MAT) relative to the balance sheet at end of
reporting period
4) Net profit (MAT) / invested capital at end of reporting period
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 13 of 22
BALANCE SHEET
Total assets amounted to DKK 1,501m at June 30, 2026, compared with DKK 1,517m at December 31, 2025.
Intangible assets increased by DKK 10m to DKK 754m at June 30, 2026, from DKK 744m at December 31, 2025.
The increase was primarily driven by foreign exchange effects on goodwill denominated in US dollars.
Transition costs increased to DKK 61m at June 30, 2026, compared with DKK 35m at December 31, 2025. The
increase was mainly related to a larger new customer project during the period. Correspondingly, prepayments
received related to transition costs increased to DKK 26m at June 30, 2026, from DKK 19m at December 31,
2025, reflecting customer funding/advance payments connected to transition activities.
Trade receivables decreased to DKK 363m at June 30, 2026, compared with DKK 394m at December 31, 2025.
The decrease was primarily driven by improved collection of outstanding balances and timing of invoicing and
customer payments during the period.
Trade payables decreased to DKK 77m at June 30, 2026, compared with DKK 108m at December 31, 2025,
mainly reflecting timing of supplier payments and lower outstanding supplier balances at the end of the period.
The draw on credit facilities decreased to DKK 218m at June 30, 2026, compared with DKK 268m at December
31, 2025, supported by positive free cash flow in the first six months of 2026.
FREE CASH FLOW
The Group’s free cash flow was DKK 49m in H1 2026, compared with DKK -134m in H1 2025, and DKK -47m at
December 31, 2025.
The improvement compared with the first six months of 2025 was primarily driven by improved operating cash
flow, supported by positive working capital developments and net tax receipts during the period. Working
capital was positively impacted by lower trade receivables, reflecting improved collection of outstanding
customer balances and improved timing of customer payments. This improvement is considered sustainable,
supported by continued focus on collection processes and working capital management.
The positive working capital effect was partly offset by lower trade payables, reflecting timing of supplier
payments and lower outstanding supplier balances at the end of the period. In addition, prepayments
increased during the period, mainly related to a larger new transition project.
Investments, primarily in software development, remained broadly in line with the same period last year. Cash
flow from investing activities amounted to DKK -14m in the first six months of 2026, compared with DKK -15m
in the first six months of 2025.
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 14 of 22
MANAGEMENT STATEMENT
Executive Management
Board of Directors
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 15 of 22
CONSOLIDATED FINANCIAL STATEMENT
INCOME STATEMENT AND STATEMENTS OF COMPREHENSIVE INCOME
DKK million Note
J
un 30,
2026
J
un 30,
2025
Dec 31,
2025
INCOME STATEMENT
1
Revenue 2 864 926 1,788
Production cost
Gross profit
Sales and marketing costs
Administrative expenses
Operating profit before special items
Special items, costs 3 27 46 83
Operation profit / loss
-4 -5 11
Financial income
Financial expenses
Profit/(loss) before income taxes
-18 -13 -11
Income Taxes
Net profit/(loss) for the period
-20 -11 -24
Earnings per share
Earnings per share
-0.81 -0.44 -0.97
Diluted earnings per share
-0.81 -0.44 -0.97
DKK million Note
J
un 30,
2026
J
un 30,
2025
Dec 31,
2025
STATEMENT OF COMPREHENSIVE INCOME
Net profit/(loss) for the period
-20 -11 -24
Other comprehensive income:
Remeasurement related to defined benefit pension
obligations
Tax on other comprehensive income defined benefit
pension obligations
Exchange rate adjustments related to subsidiaries
(net)
Tax related to exchange rate adjustments related to
subsidiaries (net)
Other comprehensive income, net of tax
Total comprehensive income
-1 -66 -81
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 16 of 22
BALANCE SHEET
DKK million
Note
Jun 30,
2026
Jun 30,
2025
Dec 31,
2025
ASSETS
Intangible assets
Tangible assets
Lease assets
Transition cost
Deferred tax
Deposits
Trade receivables
Total non-current assets
Inventories
Transition cost
Trade receivables
4
Work in progress
4
Other receivables
Pre-payments
Tax receivable
Cash and cash equivalents
Total current assets
Total assets
DKK million
Jun 30,
2026
Jun 30,
2025
Dec 31,
2025
EQUITY AND LIABILITIES
Share capital
Treasury shares
-12
-1
-12
Retained earnings
Other reserves
Total equity
Leasing liability
Employee benefit obligation
Provisions
Trade payables
Deferred tax liability
Prepayments received, transition cost
Credit facilities
Total non-current liabilities
Prepayments received, transition cost
Prepayments received, work in progress
4
Deferred income
Leasing liabilities
Employee benefit obligations
Provisions
Trade payables
Employee cost payable
Tax payables
Other liabilities
Credit facilities
Total current liabilities
Total liabilities
Contingent liabilities and legal proceedings
5
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 17 of 22
STATEMENT OF CASH FLOW
DKK million
Note
Jun 30, 2026
Jun 30, 2025
Dec 31, 2025
STATEMENT OF CASH FLOW
Net profit / loss for the period
-20
-11
-24
Reversal of non-cash items
-2
Interest received/paid
-13
-12
-25
Income taxes paid
-19
Cash flow before change in working capital
-44
Changes in working capital
-2
-75
-36
Cash flow from operating activities
-119
-18
Capitalization of intangible assets
-13
-16
-30
Purchase of tangible assets
-3
-5
-6
Sale of tangible assets
Sublease payment received
Cash flow from investing activities
-15
-15
-29
Dividends paid
Deposit (paid)/received
Installments on lease liabilities
-13
-9
-21
Draw/(repaid) on credit facilities
-51
-3
Cash flow from financing activities
-64
-24
Net cash flow
-15
-75
-71
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
Additional information
1
:
Cash and cash equivalents, assets
72
83
87
Drawn on credit facilities
-218
-339
-268
Committed credit facilities
300
400
400
Financial resources at the end of the period
154
144
219
Cash flow from operating activities
63
-119
-18
Cash flow from investing activities
-14
-15
-29
Free cash flow
49
-134
-47
1. Additional non-IFRS measures
Financial resources at the end of the period’ is defined as the sum of cash and cash equivalents at the end of the period and undrawn
committed credit facilities. Free cash flow is defined as ‘cash flow from operating activities’ less ‘cash flow from investing activities’.
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 18 of 22
STATEMENT OF CHANGES IN EQUITY
DKK million
Share
capital
Treasury
shares
Retained
earnings
Currency
revaluation
Tax
Total
other
reserves
Proposed
dividends
Total
EQUITY - June 30, 2026
Balance at the beginning of the period 250 -12 541 8 -1 7 0 786
Net profit/loss for the period 0 0 -20 0 0 0 0 -20
Other comprehensive income for the period 0 0 1 18 0 18 0 19
Total comprehensive income for the period 0 0 -19 18 0 18 0 -1
Transactions with owners:
Transfer of treasury shares 0 0 0 0 -2 -2 0 -2
Share-based payments 0 0 -1 0 0 0 0 -1
Dividends paid 0 0 0 0 0 0 0 0
Balance at the end of the period 250 -12 521 26 -3 23 0 782
DKK million
Share
capital
Treasury
shares
Retained
earnings
Currency
revaluation
Tax
Total
other
reserves
Proposed
dividends
Total
EQUITY - December 31, 2025
Balance at the beginning of the period 250 -14 571 73 -10 63 0 870
Net profit/loss for the period 0 0 -24 0 0 0 0 -24
Other comprehensive income for the period 0 0 -1 -65 9 -56 0 -57
Total comprehensive income for the period 0 0 -25 -65 9 -56 0 -81
Transactions with owners:
Transfer of treasury shares 0 2 -2 0 0 0 0 0
Share-based payments 0 0 -3 0 0 0 0 -3
Dividends paid 0 0 0 0 0 0 0 0
Balance at the end of the period 250 -12 541 8 -1 7 0 786
DKK million
Share
capital
Treasury
shares
Retained
earnings
Currency
revaluation
Tax
Total
other
reserves
Proposed
dividends
Total
EQUITY - June 30, 2025
Balance at the beginning of the period 250 -14 571 73 -10 63 0 870
Net profit for the period 0 0 -11 0 0 0 0 -11
Other comprehensive income for the period 0 0 1 -65 9 -56 0 -55
Total comprehensive income for the period 0 0 -10 -65 9 -56 0 -66
Transactions with owners:
Transfer of treasury shares 0 0 -3 0 0 0 0 -3
Dividends paid 0 0 0 0 0 0 0 0
Balance at the end of the period 250 -14 558 8 -1 7 0 801
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 19 of 22
ACCOUNTING NOTES
NOTE 1
Accounting policies
The consolidated financial statements for the first six months of 2026 are prepared in accordance with IAS 34
‘Interim Financial Reporting’ and based on the same accounting policies for recognition and measurement as
were applied in the Annual Report 2025.
The financial reporting, including the consolidated financial statements, for the first six months of 2026 and
Management’s review has been prepared in accordance with additional Danish disclosure requirements for
interim reports of listed companies.
See pages 124 to 134 of the Annual Report 2025 for a comprehensive description of the accounting policies
applied for recognition and measurement.
NNIT’s business is not considered to be materially affected by seasonality or cyclicality beyond normal quarterly
business fluctuations.
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 20 of 22
NOTE 2
Segment information
NNIT consists of five regions, which individually are considered an operating segment:
• Region Europe (including life sciences in Denmark)
• Region US
• Region Asia
• Public Denmark (excluding life sciences)
• SCALES
The five regional P&Ls include allocated corporate cost such as legal, human resources, finance and global
delivery centers. The operating segments reflect the internal reporting that is reviewed by the “Chief Operating
Decision makers” consisting of the Executive Management and the Board of Directors. The internal reporting
includes communication of revenue, costs and operating results for each of the operating segments. No
reporting is made on assets.
DKK million
Region
Europe
Region
US
Region
Asia
Public
DK
SCALES
Total
6M 2026
Revenue
285
144
67
181
188
864
Production cost
232
101
57
150
138
677
Gross profit
53
43
10
31
50
187
Gross profit Margin
18.6%
29.9%
15.2%
17.3%
26.4%
21.6%
Regional EBIT
33
25
3
13
42
115
Regional EBIT margin
11.5%
17.2%
4.0%
7.0%
22.3%
13.3%
Group EBIT
1
-10
4
-8
-6
42
23
Group EBIT margin
-3.4%
3.0%
-11.6%
-3.4%
22.3%
2.6%
6M 2025
Revenue
329
176
75
177
169
926
Production cost
255
110
61
156
116
698
Gross profit
74
67
14
21
53
229
Gross profit Margin
22.6%
37.7%
18.0%
11.8%
31.5%
24.7%
Regional EBIT
49
46
6
6
43
150
Regional EBIT margin
14.9%
26.1%
8.0%
3.4%
25.2%
16.2%
Group EBIT
1
9
26
-3
-33
43
41
Group EBIT margin
2.8%
14.6%
-4.7%
-18.8%
25.2%
4.4%
FY 2025
Revenue
629
313
153
352
341
1.788
Production cost
486
200
122
304
228
1.341
Gross profit
143
113
31
48
113
447
Gross profit Margin
22.7%
36.1%
20.2%
13.7%
33.0%
25.0%
Regional EBIT
97
71
16
16
93
292
Regional EBIT margin
15.4%
22.6%
10.3%
4.5%
27.2%
16.3%
Group EBIT
1
25
35
-1
-58
93
94
Group EBIT margin
4.0%
11.1%
-0.7%
-16.3%
27.2%
5.3%
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 21 of 22
1
When deducting special items and net financials consolidated profit before income taxes are obtained.
NOTE 3
Special items
DKK million
Jun 30,
2026
Jun 30,
2025
Dec 31,
2025
Special items
Related to:
Restructuring cost
27
42
59
Employee benefit cost (contingent consideration agreement)
0
4
4
Board-initiated strategic process
0
0
17
Other
0
0
3
Total special items
27
46
83
If special items had been recognized in operating profit
before special items,
they would have been included in the following items:
Cost of goods sold
0
31
4
Administrative expenses
27
15
79
Total special items
27
46
83
NOTE 4
Related party transactions
DKK million
Jun 30,
2026
Jun 30,
2025
Dec 31,
2025
Related party transactions
Assets
Receivables from related parties
17
48
27
Work in progress related parties
1
0
1
Liabilities
Liabilities to related parties
0
0
0
Prepayments from related parties
8
4
4
NOTE 5
Contingent liabilities and legal proceedings
The Group is occasionally involved in legal, customer and tax disputes in certain countries. Such disputes are
by nature subject to considerable uncertainty. None of these cases are expected to have a material impact on
the financial position of NNIT.
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COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 22 of 22
NOTE 6
Currency sensitivities
Estimated annual impact of NNIT’s operating profit of a 10%
increase in the outlined currencies against DKK
EUR
-1
CNY
0
CZK
-2
USD
2
CHF
2
PHP
-2
Key currency assumptions
DKK per 100
2024 average exchange
rates
2025 average exchange
rates
2026 average exchange
rates
CNY
95.61
94.29
93.34
EUR
745.80
746.07
747.21
CZK
29.82
29.84
30.73
PHP
12.12
11.97
10.68
CHF
775.94
792.58
814.09
USD
689.80
683.94
640.58
Currency development
NNIT has a net cost exposure in the Euro, the Czech koruna and the Philippine peso. Therefore, a depreciation
of these currencies versus Danish kroner has a positive impact on reported operating profit, whereas an
increase will have the reverse effect.
For the other main currencies, NNIT has net profit exposure. Therefore, an increase of CNY, CHF, and USD
versus Danish kroner has a positive impact on reported operating profit, whereas a decrease will have the
reverse effect.
The effect from currency development in H1 2026 gives a positive impact on EBIT of DKK 1.5 million.
DKK per 100
Trade receivables
Trade Payables
Net balance position
Transaction
exposure
10% sensitivity
CNY
2.3
0.5
1.8
1.8
0.2
EUR
0.0
4.3
-4.3
-4.3
-0.4
CZK
-0.1
0.1
-0.2
-0.2
0.0
CHF
1.9
2.5
-0.6
-0.6
-0.1
USD
11.2
7.2
4.0
4.0
0.4