Company announcement
No. 50/2026
13 August 2026
Netcompany - Q2 2026 company announcement
Continued strong growth - AI adoption accelerating
Summary
- Organic revenue grew by 17.3% (constant 17.1%) to DKK 2,010.8m in Q2 2026.
- Reported revenue grew by 43.3% in Q2 2026, of which 26.1 percentage points were non-organic related to Netcompany Banking Services.
- Organic adjusted EBITDA was DKK 289.6m in Q2 2026, yielding an organic adjusted EBITDA margin of 14.4%.
- Reported adjusted EBITDA increased 47.1% to DKK 324.5m in Q2 2026, yielding an adjusted EBITDA margin of 13.2%. Netcompany Banking Services impacted the margin negatively by 1.2 percentage points in the quarter.
- Average workforce increased to 9,895 FTEs.
- Free cash flow in Q2 2026 was DKK 41.2m.
- Debt leverage was 2.3x.
- Financial revenue guidance for the full year 2026 is upgraded. For the full year 2026, Netcompany now expects:
- Group revenue growth of between 16% and 20.5% (previously between 15% and 20%)
- Group excluding Netcompany Banking Services revenue growth of between 6.5% and 10.5% (previously between 5% and 10%)
- Guidance for adjusted EBITDA margin is unchanged:
- Group adjusted EBITDA margin of between approximately 16% and 19%
- Group excluding Netcompany Banking Services adjusted EBITDA margin of between 17% and 20%
"Q1's momentum continued in Q2, where we saw accelerated growth as customers - both existing and new - increasingly embraced our AI-powered product and platform offerings. This strong demand drove revenue growth of more than 43%, with organic growth accounting for more than 17 percentage points compared to the same period last year.
Growth was broad-based across the Group, with particularly strong performance in the UK, where revenue grew more than 57% in the quarter. Our brand awareness in the UK - the largest market for IT services in Europe - is accelerating, and we expect this to continue with the launch of the Netcompany INEOS cycling team. Also, our SEE & EUI segment delivered strong 20% revenue growth, driven by increased EU Commission investments in digitalisation and AI capabilities - a trend we expect to fuel continued growth opportunities for Netcompany.
Feniks AI, first launched for customers in mid-2025, is continuously benefitting from advancements made internally across the Group and will be pivotal in our unique approach to dealing with complex legacy modernisation with our customers.
Based on our performance for the first six months and the outlook for the remainder of 2026, we raise our expectations for revenue growth excluding Netcompany Banking Services to between 6.5% and 10.5%, and maintain our expectations to adjusted EBITDA margin excluding Netcompany Banking Services of between 17% and 20%. For the Group, we raise revenue growth guidance to between 16% and 20.5%, while maintaining adjusted EBITDA margin expectations of around 16% to 19%.
AI adoption is accelerating rapidly, models are advancing, and exciting opportunities await those who can deliver European sovereign digital solutions. I'm immensely proud to lead Netcompany as one of the few European companies positioned to ensure European governments and enterprises thrive in this future."
André Rogaczewski
Netcompany CEO and Co-founder
Financial overview
For full details on financial performance, see enclosed Company announcement Q2 2026.
Conference details
In connection with the publication of the results for Q2 2026, Netcompany will host a conference call on 13 August 2026 at 11.00 CEST.
The conference call will be held in English and can be followed live via the company's website; www.netcompany.com
Dial-in details for investors and analysts
DK: +45 7876 8490
UK: +44 203 769 6819
US: +1 646 787 0157
PIN: 598046
Webcast Player URL: https://netcompany.nexahub.io/events/interim-report-for-the-first-6-months-of-2026
Additional information
For additional information, please contact:
Netcompany Group A/S
Thomas Johansen, CFO, +45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87
