NNIT A/S: NNIT A/S: 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. 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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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.

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.