Cint Group

Interim / Quarterly Report • Jul 17, 2025

Interim report, January – June 2025

Another quarter with improved profitability

Second quarter 2025

• Net sales amounted to EUR 39.3m (42.1), corresponding to a decrease of 6.6 percent, or 2.9 percent on a constant currency basis.
• Gross profit amounted to EUR 34.9m (36.6), correspondding to a margin of 88.8 percent (87.0).
• EBITA amounted to EUR 8.2m (7.1) with an EBITA margin of 20.8 percent (16.9).
• EBIT amounted to EUR 1.7m (-5.1) with an EBIT margin of 4.2 percent (-12.1).
• EPS, before dilution amounted to EUR 0.01 (-0.03).
• Adjusted EPS, before dilution amounted to EUR 0.03 (0.01).
• Cash flow from operating activities amounted to EUR 1.6m (7.2).

January – June 2025

• Net sales amounted to EUR 75.2m (78.5), corresponding to a decrease by 4.2 percent, or 3.2 percent on a constant currency basis.
• Gross profit amounted to EUR 66.3m (66.9) corresponding to a margin of 88.2 percent (85.3).
• EBITA amounted to EUR 11.9m (8.6) with an EBITA margin of 15.8 percent (11.0).
• EBIT amounted to EUR -2.0m (-13.5) with an EBIT margin of -2.6 percent (-17.2).
• EPS, before dilution amounted to EUR 0.01 (-0.07).
• Adjusted EPS, before dilution amounted to EUR 0.07 (0.01).
• Cash flow from operating activities amounted to EUR 12.0m (6.3).

Significant events during the period

Key financial ratios for the Group

• Adjusted EPS, before dilution amounted to EUR 0.03 (0.01). • Cash flow from operating activities amounted to EUR 1.6m (7.2).			• Cash flow from operating activities amounted to EUR 12.0m (6.3).	• Adjusted EPS, before dilution amounted to EUR 0.07 (0.01).
Significant events during the period
During the quarter, Cint amortized USD 40.0m (EUR 36.4m) of the bank loan following the completed rights issue and as part of the loan agreement. In April, Mikaela Bielke joined Cint as General Counsel and was appointed as member of the Global Leadership Team.
Key financial ratios for the Group	2025	2024	2025	2024	2024
KEUR	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Net sales	39,307	42,068	75,224	78,482	166,195
Net sales growth*	-6.6%	-38.0%	-4.2%	-38.5%	-37.6%
Gross profit	34,914	36,592	66,339	66,937	144,466
Gross margin	88.8%	87.0%	88.2%	85.3%	86.9%
Operating profit/loss before amortization (EBITA)	8,178	7,119	11,895	8,611	32,956
Operating profit/loss before amortization (EBITA) margin	20.8%	16.9%	15.8%	11.0%	19.8%
FX gain/loss on operating items	-214	-122	-1,206	-714	-915
EPS, before dilution	0.01	-0.03	0.01	-0.07	-0.06
Adjusted EPS, before dilution	0.03	0.01	0.07	0.01	0.10

Another quarter with improved proцtability

Migration success unlocks shift to innovation

We are proud to conclude that we have successfully migrated 95 percent of our legacy Cint customers to the new platform, which marks a pivotal milestone and the substantial completion of our platform consolidation. All migrated customers now have access to the new platform with improved features, and revenues will transfer over successively during the rest of the year. Final technical platform updates are scheduled for the second half of the year. However, our resources and operational focus are now shifting from internal systems and migration to the next phase of executing our Cint 2.0 strategy: driving customer-centric innovation and fully deploying our goto-market strategy.

Sales and profitability

Net sales for the second quarter of 2025 decreased by 6.6 percent to EUR 39.3m, or 2.9 percent in constant currency, compared to the same period last year. As expected sales in Cint Exchange decreased, by 12.1 percent (9.1 percent in constant currency), affected by the migration of our customers to the new platform, whilst we continued to grow in our Media Measurement business by 8.3 percent (14.2 percent in constant currency).

The highlight of the quarter was our continued improvement in profitability, a clear demonstration of our enhanced operational control. Despite lower sales, EBITA increased to EUR 8.2m, expanding our EBITA margin to 20.8 percent from 16.9 percent last year. This result was driven by ongoing efficiencies in the underlying cost structure of our new, consolidated operating model.

Operating cash flow, driven by underlying profitability, amounted to EUR 8.0m (9.3), before changes in working capital. We also delivered on our stated priority to improve accounts receivable, reducing it by EUR 12.9m to EUR 84.1m compared to the previous quarter, a significant decrease from the year-end high of EUR 120.0m. We remain committed to further reduce the accounts receivable balance. We ended the period with a total cash position of EUR 49.8m and a total interest-bearing debt of EUR 63.5m after loan repayments of EUR 36.4m in the quarter.

Consolidation

As stated above, the new Cint Exchange is now featurecomplete and fully operational, with 95 percent of legacy Cint customers migrated by quarter-end. To provide continuity for long-running tracker studies, some of these customers will continue operating in parallel on the legacy platform into the third quarter.

For our legacy Lucid customers, a full upgrade starting in the fourth quarter will give them access to the new platform features. To allow all our customers adequate time to manage their historical data, we are targeting final platform deprecation during early 2026. This managed timeline will not materially impact profitability.

Investment in innovation

This quarter, we continued to drive product innovation, focusing on Engage, our new, self-serve panel management solution. Now fully integrated into the Cint Exchange, Engage makes it easier than ever for publishers to build, manage, and monetize their audiences on our platform, providing our customers with access to more exclusive, high-quality supply.

In a key step to accelerate new avenues for growth, we will launch Cint Verified Audiences as a native app in the Snowflake Marketplace. This partnership provides customers with secure and transparent access to our data, presenting a substantial opportunity to grow our Data Solutions business by reaching Snowflake's more than 11,000 global customers.

The company has deepened its technical integration with The Trade Desk (NASDAQ: TTD) by updating data visualizations, adding AI-generated reports, and multi-touch reporting for its advertising clients. Furthermore, market adoption of the company's Measurement Study Creator continues to grow, with notable traction observed in the EMEA region

Looking ahead

In July, after the end of the period, we announced a significant strategic alliance with Kantar. This new, multi-year commercial agreement builds upon a long and successful history between the two companies. We are honored that Kantar has chosen to leverage the new Cint Exchange to power its technology transformation.

Our main priority in 2025 is to fully consolidate operations within the new Cint Exchange and continue the steps included in the Cint 2.0 plan. For the coming year, we will focus on accelerating innovation to provide high-quality products and launching targeted initiatives to support our sales and profitability ambitions for 2027 and beyond. We remain confident in our ability to deliver on the three-year strategic plan, Cint 2.0.

Patrick Comer CEO

Group Financial Overview

Net Sales

Second quarter

Net sales in the quarter amounted to 39.3m (42.1), corresponding to a decrease of 6.6 percent, or 2.9 percent on constant currency basis. Similar to earlier quarters, sales in Cint Exchange decreased, affected primarily by the ongoing migration of our customers whilst sales in Media Measurement increased.

January – June

Net sales amounted to 75.2 (78.5), corresponding to a decrease by 4.2 percent, or 3.2 percent on constant currency basis.

Gross Profit

Second quarter

Gross profit in the quarter amounted to EUR 34.9m (36.6) corresponding to a margin of 88.8 percent (87.0). This primarily reflects lower hosting and personnel costs.

January – June

Gross profit in the period amounted to EUR 66.3m (66.9) corresponding to a margin of 88.2 percent (85.3).

EBITA

Second quarter

EBITA in the quarter increased to EUR 8.2m (7.1) and the EBITA margin was 20.8 percent (16.9). Profitability increased as a result of increased gross margins and lower operating expenses.

Changes in retention assumptions for the LTIP, in accordance with IFRS 2, had a cost of EUR 0.3m (0.4) in the second quarter. The impact from the IFRS valuation is included in the personnel costs under General and Administrative expenses.

Due to the global nature of the business, the company is exposed to currency fluctuations with most of the net sales in USD and EUR and a large part of the operating expenses in SEK and USD. During the quarter, net sales were impacted by EUR - 1.6m (0.5) from currency fluctuations. The revaluation of balance sheet items had a negative impact on the result of EUR -0.2m (- 0.1) during the quarter. This impact is included in EBITA.

January – June

EBITA amounted to EUR 11.9m (8.6) and the EBITA margin was 15.8 percent (11.0).

Total cost for LTIP programs, in accordance with IFRS 2, in the period was EUR 0.5m (0.8).

During the period, net sales were impacted by EUR -0.8m (0.1) from currency fluctuations. The revaluation of balance sheet items had a negative impact on the result of EUR -1.2m (-0.7) during the period.

LTM net sales and growth by quarter LTM Operating profit/loss before amortization (EBITA)

ltems affecting comparability

To enable a more accurate tracking of the underlying performance, items affecting comparability, or non-recurring items, are included below the EBITA line. Please refer to note 10 Alternative Performance Measures for details of the nonrecurring items split by category.

Second quarter

Items affecting comparability for the quarter was positive and amounted to EUR 0.5m (-4.9), of which EUR 0.4m (-2.9) was related to the cost reductions from the efficiency program announced in December and EUR 0.0m (-2.0) related to integration costs.

January – June

Items affecting comparability for the period was positive and amounted to EUR 0.5m (-7.4) of which EUR 0.5m (-2.9) related to the cost reductions from the efficiency program announced in December and EUR 0.0m (-4.5) related to integration costs.

Profit and Earnings Per Share

Second quarter

The operating profit (EBIT) in the quarter amounted to EUR 1.7m (-5.1) with an operating margin of 4.2 percent (-12.1). Profit for the quarter amounted to EUR 4.1m (-7.0) and EPS (basic and diluted) was EUR 0.01 (-0.03). Adjusted EPS (basic and diluted) was EUR 0.03 (0.01).

January – June

The operating loss (EBIT) in the period amounted to EUR -2.0m (-13.5) with an operating margin of -2.6 percent (-17.2). Profit for the period amounted to EUR 2.3m (-14.8) and EPS (basic and diluted) was EUR 0.01 (-0.07). Adjusted EPS (basic and diluted) was EUR 0.07 (0.01).

Cash flow and investments

Second quarter

Operating cash flow before changes in working capital in the quarter was EUR 8.0m (9.3). Interest paid in the quarter decreased by EUR 1.6m compared with the same quarter last year due to repayment of the loan. Despite a rise in operating profit to 1.7m (-5.1), operating cash flow is lower than the comparison period, primarily reflecting the timing of the annual bonus payout in April 2025, as well as the accrued cost of the savings effort announced in the second quarter, yet paid out in the third quarter 2024.

Cash flow from changes in working capital was EUR -6.4m (-2.2) in the quarter. For further information regarding working capital, refer to the net working capital section.

Cash flow from investing activities for the quarter was EUR - 4.3m (-4.8), consisting of investments in intangible fixed assets amounting to -4.3m (-4.8), attributable to capitalized development costs for the platform, investments in new features and functions to support future growth.

For details on depreciation and amortization, please refer to note 7.

Cash flow from financing activities amounted to EUR -39.0m (-2.8) in the quarter, related to loan amortizations of EUR 36.4m.

The net cash flow in the quarter was EUR -41.7m (-0.5).

January – June

Operating cash flow before changes in working capital in the period was EUR 15.3m (7.9).

Cash flow from changes in working capital was EUR -3.3m (-1.6) in the period.

Cash flow from investing activities for the period was EUR -1.3m (-9.4), affected by investments in intangible fixed assets amounting to EUR -8.4m (-9.2).

Cash flow from financing activities amounted to EUR 14.7m (-5.3), driven by the proceeds from the rights issue and repayment of loans.

The net cash flow in the period was EUR 25.4m (-8.4).

Net working capital

Net working capital amounted to EUR 45.6m at the end of the period compared with EUR 38.2m as per March 2025. Working capital increased by EUR 7.4m compared to March 2025, mainly as a result of lower accounts payable of EUR 17.1m partly offset by lower accounts receivable of EUR 12.9m. We often see a simultaneous reduction in accounts receivable and accounts payable when customers also serve as our suppliers. The continued reduction of accounts receivable stems from structural operational enhancements. Working capital optimization – and in particular further reductions in accounts receivable - will remain a strategic priority.

Net debt and financing activities

The Group ended the second quarter with a total cash position of EUR 49.8m (30.8) and a total debt of EUR 63.5m (110.3) consisting of total borrowings and lease liabilities. The net debt / EBITDA at the end of the quarter was 0.3x.

Since December 2021, Cint has a credit facility agreement with two Nordic banks. The facility has an initial USD 120m term loan with an original tenor of three years which was renegotiated and extended to March 2027 following the successful rights issue. As per the end of the second quarter, the outstanding loan amount was USD 71.5m equivalent to EUR 60.9m.

Personnel

At the end of the period, the total number of FTEs (employees and consultants) was 767 (958). The average number of FTEs in the quarter was 760 (967). The total number of employees was 723 (892) at the end of the period. The average number of employees during the quarter was 716 (901).

Platform unification

The consolidation of the Cint's technology platforms into the new unified Cint Exchange is progressing with the aim of completing this process during 2025. Cint had no integration costs in the second quarter of 2025. Total integration costs since the acquisition of Lucid at the end of December 2021 and up until the end of the second quarter of 2024 amounted to EUR 38.7m.

Financial targets and dividend policy

In January 2025, Cint adopted a new three-year strategy plan to enhance efficiency of the organization following the completion of the platform consolidation during 2025 and to shift focus to profitable growth. The objectives of the new strategy are: win with the Exchange, accelerate new avenues for growth and streamline operations. Cint also adopted new financial targets:

• Sales growth target: Cint aims to achieve a medium term annual organic sales growth of >10 percent
• Profitability target: Cint aims to achieve a medium term EBITA margin of 25 percent
• Leverage target: Target net debt / EBITDA below 2.5x (This ratio may temporarily be exceeded, for example as a result of acquisitions)
• Dividend policy: Cint aims to reinvest cash flows into growth initiatives and as such will not pay annual dividends in the short-term
• Sustainability target: Cint aims to achieve net-zero greenhouse gas (GHG) emissions across its operations by 2045, aligning with Sweden's national climate targets and global best practices

Parent Company

The parent company's activities are focused on direct or indirect holding of shares in the operational subsidiaries. In addition, the parent company provides management services to the Group. The parent company has no external business activities, and the risks are mainly related to the operations of the subsidiaries.

The parent company's operating profit (EBIT) was SEK 33.1m (6.6) in the second quarter. The parent company's net result was SEK 25.1m (-28.5) in the quarter. The parent company's financial position by end of the quarter, measured in terms of total equity in relation to total assets ratio, was 82.6 percent (67.1) and it had a cash balance of SEK 98.3m (0.8), to be compared with a ratio of 69.4 percent and a cash balance of SEK 5.0m by end of December 2024.

Net sales development

Business segments

Cint Exchange gives customers instant programmatic connections to millions of global respondents to conduct costeffective digital market research at speed and scale, delivered through automated matching of survey criteria and deep profiling data.

Net sales in the Cint Exchange segment decreased by 12.1 percent to EUR 27.0m (30.7) in the quarter, or 9.1 percent on a constant currency basis. Sales were negatively affected by the migration of customers. Net sales for the first six months decreased by 8.6 percent to EUR 52.8m (57.8), or 8.0 percent on a constant currency basis.

Media Measurement delivers proprietary brand lift metrics and daily survey results for customers to measure digital campaign effectiveness and optimize their media performance in real-time.

Net sales in the Media Measurement segment increased by 8.3 percent to EUR 12.3m (11.4) in the quarter, or 14.2 percent on a constant currency basis. Net sales for the first six months increased by 8.2 percent to EUR 22.4m (20.7), or 10.2 percent on a constant currency basis.

Regional development

Net sales in the Americas region decreased by 8.1 percent to EUR 24.5m (26.7) in the quarter, or 3.5 percent on a constant currency basis as a result of lower sales in Cint Exchange partly offset by higher sales in Media Measurement. Net sales for the first six months decreased by 0.1 percent to EUR 48.8m (48.8), or increased by 1.4 percent on a constant currency basis.

Net sales in EMEA increased by 6.9 percent to EUR 12.1m (11.3) in the quarter, or 8.3 percent on a constant currency basis as a result of higher sales in Cint Exchange partly offset by lower sales in Media Measurement. Net sales for the first six months decreased by 3.0 percent to EUR 21.7m (22.4), or 3.3 percent on a constant currency basis.

Net sales in APAC decreased by 33.2 percent to EUR 2.8m (4.1) in the quarter, or 30.7 percent on a constant currency basis as a result of a reorganization and alignment to the new go-tomarket strategy. Net sales for the first six months decreased by 34.8 percent to EUR 4.8m (7.3), or 33.7 percent on a constant currency basis.

Completed surveys

In the last year, we have seen a 15.6% reduction in completed surveys, with a total of 172 million. Notably, the associated loss in revenue was proportionally smaller. This change is attributed to several key factors:

• Stragetic shift: We are deliberately focusing on higher-value surveys. By implementing stricter quality criteria, we are enhancing the integrity of our platform and improving the profitability of each survey.
• Election year impact: 2024 being an election year contributed to a higher volume of lower-value surveys, which influenced the overall numbers.
• Platform transition: Direct comparisons to previous years are challenging due to our ongoing initiative to integrate new platforms and decommission legacy systems. 30,000 APAC EMEA Americas Q2-24 Q2-25

,0

10,000

20,000

Net sales by business segment, (KEUR) Net sales by region, (KEUR)

Net sales by region (Q2-2025) Completed surveys LTM, million

Other information

Significant events during and after the quarter

During the quarter, Cint amortized USD 40.0m (EUR 36.4m) of the bank loans following the completed rights issue and as part of the loan agreement. In April, Mikaela Bielke joined Cint as General Counsel and was appointed as member of the Global Leadership Team

Annual General Meeting

The annual general meeting of Cint Group AB was held on 13 May 2025 in Stockholm, Sweden. The AGM resolved to reelect Anna Belfrage, Donna L. DePasquale, Carl Sparks, Linda Höglund and Mark Simon, and to elect Susanne Ekblom as members of the board of directors for the period until the close of the annual general meeting 2026. Anna Belfrage was reelected as chairman of the board of directors for the same period. Information related to the AGM can be accessed here Cint™ Investors | General Meetings.

Share capital and shareholders

As of 30 June 2025, the share capital of Cint amounted to SEK 35,497,638, apportioned among 354,976,383 shares. In the first quarter of 2025, the number of shares increased compared to the year-end 2024, as a result of Cint's rights issue of 141,990,553 shares.

The company's five largest shareholders on 30 June 2025 were Bolero Holdings (29.6 percent), DNB Asset Management AS (8.5 percent), Nordic Capital through companies (6.2 percent), Fourth Swedish National Pension Fund (6.0 percent) and Janus Henderson Investors (5.1 percent). For more information about Cint's ownership structure, see https://investors.cint.com.

Seasonality

There are certain seasonal variations whereby net sales and profits are somewhat tilted towards the second half of the year, driven by variations in demand. The fourth quarter is usually the strongest quarter in terms of net sales and profit as it coincides with the needs of our customers for insight during major holidays, sales discount days and budget discussions.

ESG

Cint's sustainability impact is represented in the company's sustainability strategy through the three focus areas: 1) We are fair and equal, 2) We create business value, and 3) We reduce our environmental impact. These constitute the core of Cint's sustainability work, and thanks to close integration with the company business model, they play a natural part in all Cint's operations. Continuous work on KPIs and measurement entails refining existing metrics while also integrating new requirements. Further to this, the company is preparing itself to be fully compliant with CSRD reporting requirements.

New long-term share-based incentive program

At the annual general meeting held on May 13, 2025, it was resolved to establish a new long-term incentive program ("LTIP 2025"). The LTIP 2025 comprises in total up to 9,247,128 restricted stock units ("RSUs") which will be awarded free of charge to members of group management and other employees as allocated by the board of directors. Each RSU entitles the holder to one share in the Company. The RSUs will fully vest after three years from the date of award, subject to both performance and continued employment. The program will be launched during the third quarter of 2025.

In order to secure the Company's obligation to deliver shares and to cover costs under the LTIP 2025, the general meeting resolved to issue and transfer up to 11,096,554 warrants of series 2025/2028. The maximum dilution effect will be approximately 3.0 percent if all 11,096,554 warrants of series 2025/2028 are exercised for subscription of 11,096,554 new shares in the Company.

Financial statements

Condensed consolidated income statement

Financial statements
Condensed consolidated income statement
		2025	2024	2025	2024	2024
KEUR	Note	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Net Sales	4	39,307	42,068	75,224	78,482	166,195
Cost of services sold		-4,392	-5,476	-8,886	-11,545	-21,728
Gross profit		34,914	36,592	66,339	66,937	144,466
Sales and Marketing Expenses	9	-8,414	-11,674	-15,946	-23,867	-42,220
Research and Development Expenses	9	-7,852	-7,608	-15,827	-13,755	-29,308
General and Administrative Expenses	9	-10,080	-10,092	-21,220	-20,048	-40,233
Other operating income/expenses		-390	-100	-1,451	-656	250
Operating profit/loss before amortization (EBITA)		8,178	7,119	11,895	8,611	32,956
Amortization and impairment on acquisition related assets	7	-6,964	-7,316	-14,366	-14,750	-29,466
Items affecting comparability		450	-4,900	504	-7,387	-12,579
Operating profit/loss (EBIT)		1,665	-5,097	-1,967	-13,526	-9,090
Net financial income/expenses	8	-1,185	-2,860	3,376	-5,386	-10,782
Earnings before tax		479	-7,956	1,409	-18,912	-19,871
Income tax expense		3,623	976	868	4,121	8,010
Profit/loss for the period		4,102	-6,981	2,277	-14,790	-11,862
Profit/loss for the period attributable to:
Parent Company shareholders		4,102	-6,981	2,277	-14,790	-11,862
Condensed consolidated statement of other comprehensive income
		2025	2024	2025	2024	2024
		Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Profit/loss for the period		4,102	-6,981	2,277	-14,790	-11,862
Other comprehensive income
Items that may be transferred to income
Exchange differences on translation of foreign operations				-44,088	14,094	25,376
		-29,965	3,312

Condensed consolidated statement of other comprehensive income

Profit/loss for the period attributable to:
Condensed consolidated statement of other comprehensive income
	2025 Apr-Jun	2024 Apr-Jun	2025 Jan-Jun	2024 Jan-Jun	2024 Jan-Dec
Profit/loss for the period	4,102	-6,981	2,277	-14,790	-11,862
Other comprehensive income
Items that may be transferred to income
Exchange differences on translation of foreign operations	-29,965	3,312	-44,088	14,094	25,376
Hedge accounting of net investments	4,193	890	12,099	-4,111	-9,522
Tax effect from items in OCI	-752	-126	-2,355	929	1,794
Other comprehensive income for the period	-26,523	4,076	-34,344	10,912	17,648
Total comprehensive income for the period	-22,421	-2,905	-32,067	-3,878	5,786

Condensed consolidated statement of financial position

	2025	2024	2024
KEUR	30 Jun	30 Jun	31 Dec
ASSETS
Non-current assets
Goodwill	147,829	160,349	163,979
Other intangible assets	227,299	269,279	264,380
Right-of-use assets	2,735	3,078	3,237
Equipment, tools and installations	423	1,001	706
Other financial assets	929	1,343	1,122
Deferred tax assets	27,459	28,669	31,359
Total non-current assets	406,674	463,719	464,783
Current assets
Accounts receivable	84,129	108,842	120,038
Other receivables	5,724	5,202	6,224
Prepaid expenses and accrued income	19,278	24,094	26,111
Cash and cash equivalents	49,802	30,751	26,408
Total current assets	158,932	168,889	178,781
TOTAL ASSETS	565,605	632,608	643,564
	2025	2024	2024
KEUR	30 Jun	30 Jun	31 Dec
EQUITY
Total equity attributable to the shareholders of the parent company	391,157	362,807	370,715
LIABILITIES
Non-current liabilities
Borrowings	43,764	89,557	92,546
Other provisions	275	-	180
Lease liabilities	1,540	1,470	1,750
Deferred tax liabilities	46,369	58,294	55,812
Total non-current liabilities	91,948	149,320	150,288
Current liabilities
Borrowings	17,048	17,728	14,399
Lease liabilities	1,124	1,519	1,417
Accounts payable	31,396	57,273	62,269
Current tax liabilities	2,827	445	1,689
Other current liabilities	3,384	5,459	4,181
Accrued expenses and deferred income	26,722	38,057	38,608
Total current liabilities	82,501	120,481	122,561
TOTAL EQUITY AND LIABILITIES	565,605	632,608	643,564

		Condensed consolidated statement of changes in equity
		Equity attributable to the equity holders of the parent company
KEUR	Share capital	Additional paid in capital	Hedging reserve	Reserves	Retained earnings, including profit/loss for the period	Total equity
Opening balance, 1 Jan 2024	2,165	1,165,655	-5,819	4,442	-800,468	365,974
Profit/loss for the period Jan-Jun	-	-	-	-	-14,790	-14,790
Other comprehensive income	-	-	-3,182	14,094	-	10,912
Total comprehensive income	-	-	-3,182	14,094	-14,790	-3,878
Share-based incentive program (IFRS 2)	-	710	-	-	-	710
Closing balance, 30 Jun 2024	2,165	1,166,365	-9,001	18,536	-815,258	362,807
Profit/loss for the period Jun-Dec	-	-	-	-	2,928	2,928
Other comprehensive income	-	-	-4,546	11,282	-	6,736
Total comprehensive income	-	-	-4,546	11,282	2,928	9,664
Share-based incentive program (IFRS 2)	-	-1,756	-	-	-	-1,756
Closing balance, 31 Dec 2024	2,165	1,164,609	-13,547	29,818	-812,330	370,715
Profit/loss for the period Jan-Jun	-	-	-	-	2,277	2,277
Other comprehensive income	-	-	9,743	-44,088	-	-34,345
Total comprehensive income	-	-	9,743	-44,088	2,277	-32,067
New share issue	1,295	53,081	-	-	-	54,376
Transaction cost net of tax		-2,344	-	-	-	-2,344
Share-based incentive program (IFRS 2)	-	478	-	-	-	478
Total transactions with shareholders	1,295	51,214	-	-	-	52,509
Closing balance, 30 Jun 2025	3,460	1,215,823	-3,804	-14,270	-810,053	391,157

Equity attributable to the equity holders of the parent company

Condensed consolidated statement of cash flows

Condensed consolidated statement of cash flows
	2025	2024	2025	2024	2024
KEUR	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Cash flow from operating activities
Operating profit/loss	1,665	-5,097	-1,967	-13,526	-9,090
Adjustments for non-cash items	7,837	16,625	22,028	26,957	52,743
Interest received	126	107	143	244	368
Interest paid	-1,301	-2,923	-3,509	-5,772	-11,260
Income tax paid	-310	633	-1,359	-9	334
Cash flow from operating activities before changes in working capital	8,016	9,347	15,336	7,894	33,095
Change in accounts receivable	8,329	-10,979	28,109	-13,213	-27,089
Change in other current receivables	1,557	226	5,579	2,233	-790
Change in accounts payable	-14,138	12,472	-26,789	13,395	17,574
Change in other current liabilities	-2,158	-3,894	-10,248	-4,059	-7,509
Cash flow from changes in working capital	-6,410	-2,175	-3,349	-1,644	-17,814
Cash flow from operating activities	1,606	7,172	11,987	6,250	15,280
Cash flow from investing activites
Acquisitions of intangible assets	-4,314	-4,816	-8,400	-9,240	-18,475
Acquisitions of tangible assets	-15	-20	-15	-133	-153
Acquistions of entites	-	-0	0	-0	-
Change in other financial assets	27	8	7,091	5	239
Cash flow from investing activities	-4,302	-4,829	-1,324	-9,367	-18,389
Cash flow from financing activities
Bank overdraft facility	-	-	-	-	-
Repayment of loans	-36,423	-2,348	-36,423	-4,227	-7,781
Repayment of lease liabilities	-448	-485	-918	-1,031	-2,001
New shares issue Transaction cost new share issue	- -2,083	- -	54,375 -2,344	- -	- -
Cash flow from financing activities	-38,954	-2,832	14,690	-5,258	-9,782
Net cash flow	-41,651	-489	25,352	-8,376	-12,891
Decrease/increase of cash and cash equivalents
Cash and cash equivalents at the beginning of the period	93,752	30,982	26,408	38,862	38,862
Currency translation difference in cash and cash equivalents	-2,299	259	-1,959	265	437
Cash and cash equivalents at the end of the period	49,802	30,751	49,802	30,751	26,408

Condensed parent company income statement

Condensed parent company income statement
	2025	2024	2025	2024	2024
KSEK	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Net sales	-	4,429	6,224	15,778	31,817
General and Administrative Expenses	-7,513	-4,655	-29,226	-16,617	-39,526
Other operating income/expenses	40,613	6,875	150,320	-63,247	-108,944
Operating profit/loss	33,100	6,648	127,317	-64,086	-116,653
Interest expenses and similar profit/loss items	-3,758	-31,622	-11,515	-72,140	-145,655
Total net financial items	-3,758	-31,622	-11,515	-72,140	-145,655
Earnings before tax	29,343	-24,974	115,802	-136,227	-262,308
Taxes for the period	-4,226	-3,534	-27,989	15,880	34,970
Net loss/profit for the period	25,116	-28,507	87,813	-120,347	-227,338
Condensed parent company balance sheet
			2025	2024	2024
KSEK			30 Jun	30 Jun	31 Dec
ASSETS
Non-current assets
Shares in subsidiary			4,202,132	4,202,132	4,202,132
Deferred tax assets			72,178	81,076	100,167
Intercompany non-current assets			27,089	332,056	27,907
Total non-current assets			4,301,398	4,615,264	4,330,206
Current assets

Condensed parent company balance sheet

Condensed parent company balance sheet
		2025	2024	2024
KSEK		30 Jun	30 Jun	31 Dec
ASSETS
Non-current assets
Shares in subsidiary		4,202,132	4,202,132	4,202,132
Deferred tax assets		72,178	81,076	100,167
Intercompany non-current assets		27,089	332,056	27,907
Total non-current assets		4,301,398	4,615,264	4,330,206
Current assets
Intercompany receivables		386,216	452,082	419,982
Other current receivables		14,766	43,988	4,431
Prepaid expenses and accrued income		4,853	5,136	4,597
Total current receivables		405,835	501,205	429,010
Cash and cash equivalents		98,282	816	4,983
Total current assets		504,117	502,021	433,993
TOTAL ASSETS		4,805,515	5,117,285	4,764,199
		2025	2024	2024
KSEK		30 Jun	30 Jun	31 Dec
EQUITY AND LIABILITIES
Total restricted equity		35,498	21,298	21,299
Total non-restricted equity		3,934,759	3,412,270	3,285,223
Total equity		3,970,256	3,433,568	3,306,521
Non-current liabilities
External loan Total non-current liabilities		487,815 487,815	1,017,321 1,017,321	1,063,033 1,063,033
Current liabilities
External loan		190,027	201,385	165,393
Accounts payable		1,312	3,541	4,971
Intercompany liabilities		150,832	449,509	210,896
Other liabilities		1,396	6,160	9,047
Accrued expenses and deferred income		3,877	5,801	4,337
Total current liabilities		347,444	666,396	394,645
TOTAL EQUITY AND LIABILITIES		4,805,515	5,117,285	4,764,199
Cint Interim report January – June 2025				12

Notes

Note 1 General information

Cint Group AB (publ) ("Cint"), Corp. Reg. No 559040-3217 is the Parent Company registered in Sweden with its main office in Stockholm at Luntmakargatan 18, 111 37 Stockholm, Sweden.

Unless otherwise stated, all amounts are in thousands of EUR (KEUR). Data in parentheses pertain to the comparative period.

This interim report was authorized for issue by the board of directors on 17 July 2025.

Note 2 Summary of significant accounting policies

Segment reporting

Note 3 Risk and uncertainties

Note 4 Distribution of net sales

Cint applies International Financial Reporting Standards (IFRS) as adopted by the EU. The accounting policies applied are consistent with those described in the 2024 Annual Report for Cint Group AB (publ). This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting.
The Parent Company's interim report has been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation RFR 2.
Segment reporting
Cint's chief operating decision maker (CODM) is represented by the chief executive officer (CEO) who monitors the operating result for the Group to manage the organization and evaluate resources. The assessment of the Group's operation is based on the financial information reported to the CEO. The financial information reported to the CEO refers to the Group on a consolidated basis since the Group's offerings comprise the company's single platform. Therefore, the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements.
Note 3 Risk and uncertainties
An account of the Group's material financial and business risks can be found in the administration report and under note 3 in the 2024 Annual Report.
Note 4 Distribution of net sales
Net sales by region	2025 Apr-Jun	2024 Apr-Jun	2025 Jan-Jun	2024 Jan-Jun	2024 Jan-Dec
Americas	24,503	26,670	48,766	48,810	105,988
EMEA	12,050	11,277	21,690	22,355	46,702
APAC	2,754	4,121	4,769	7,316	13,505
Total	39,307	42,068	75,224	78,482	166,195
Net sales by business segment	2025 Apr-Jun	2024 Apr-Jun	2025 Jan-Jun	2024 Jan-Jun	2024 Jan-Dec
Cint Exchange	26,968	30,671	52,829	57,784	116,824
Media Measurement	12,339	11,397	22,395	20,698	49,370

Note 5 Related party transactions

Note 6 Earnings per share

Note 6 Earnings per share
	2025	2024	2025	2024	2024
	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Earnings per share before dilution, EUR	0.01	-0.03	0.01	-0.07	-0.06
Earnings per share after dilution, EUR	0.01	-0.03	0.01	-0.07	-0.06
Calculation of earnings per share:
Earnings attributable to Parent Company shareholders, KEUR	4,102	-6,981	2,277	-14,790	-11,862
Total	4,102	-6,981	2,277	-14,790	-11,862
Weighted average number of ordinary shares	354,976,383	212,976,588	354,976,383	212,976,588	212,985,830
	2025 Apr-Jun	2024 Apr-Jun	2025 Jan-Jun	2024 Jan-Jun	2024 Jan-Dec
Adjusted Earnings per share before dilution, EUR	0.03	0.01	0.07	0.01	0.10
Adjusted Earnings per share after dilution, EUR	0.03	0.01	0.07	0.01	0.10
Calculation of adjusted earnings per share
Earnings attributable to Parent Company shareholders, KEUR	4,102	-6,981	2,277	-14,790	-11,862
Adjustment for items affecting comparability(1), KEUR	-357	3,891	9,988	5,866	9,988
Add-back of amortization of intangible assets from acquisitions(1), KEUR	5,348	5,618	11,033	11,328	22,630
Total	9,093	2,528	23,298	2,403	20,756
Weighted average number of ordinary shares	354,976,383	212,976,588	354,976,383	212,976,588	212,985,830
(1) Net of tax effect
Note 7 Depreciations, amortizations and impairments
	2025	2024	2025	2024	2024
KEUR	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Depreciation on tangible assets	-568	-658	-1,170	-1,369	-2,646
Depreciation on capitalized development costs	-2,621	-2,379	-5,229	-4,607	-9,830
Depreciation included in EBITA	-3,189	-3,037	-6,400	-5,976	-12,476
Amortization and write-downs Impairment of goodwill	-6,964 -	-7,316 -	-14,366 -	-14,750 -	-29,466 -

Note 7 Depreciations, amortizations and impairments

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Calculation of adjusted earnings per share
Add-back of amortization of intangible assets from acquisitions(1), KEUR
(1) Net of tax effect
Note 7 Depreciations, amortizations and impairments
	2025	2024	2025	2024	2024
KEUR	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Depreciation on tangible assets	-568	-658	-1,170	-1,369	-2,646
Depreciation on capitalized development costs	-2,621	-2,379	-5,229	-4,607	-9,830
Depreciation included in EBITA	-3,189	-3,037	-6,400	-5,976	-12,476
Amortization and write-downs	-6,964	-7,316	-14,366	-14,750	-29,466
Impairment of goodwill	-	-	-	-	-
Amortization and impairment on acquisition related assets	-6,964	-7,316	-14,366	-14,750	-29,466
Note 8 Financial income and expenses
	2025	2024	2025	2024	2024
KEUR	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Interest income	126	107	143	244	368
Non recurring gain on divestment of minority investment	56	-	6,956	-	-
Interest expenses	-1,246	-2,760	-3,422	-5,503	-10,599
Realized and unrealized currency effects	-66	-45	-214	143	163
			-88	-268	-714
Other financial expenses	-55	-163

Note 8 Financial income and expenses

KEUR	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec

Note 9 Expense by type of cost

Note 9 Expense by type of cost
	2025	2024	2025	2024	2024
	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Personnel costs	-6,723	-10,265	-12,925	-20,493	-35,579
Other external expenses	-1,691	-1,409	-3,020	-3,374	-6,641
Total Sales and Marketing Expenses	-8,414	-11,674	-15,946	-23,867	-42,220
Personnel costs	-3,484	-4,031	-6,873	-6,027	-13,185
		-1,197	-3,725	-3,121	-6,293
Other external expenses	-1,746
Depreciation of capitalized development cost	-2,621	-2,379	-5,229	-4,607	-9,830
Total Research and Development Expenses	-7,852	-7,608	-15,827	-13,755	-29,308
Personnel costs	-4,443	-4,512	-9,372	-8,433	-14,502
Other external expenses	-5,069	-4,921	-10,678	-10,246	-23,085
Other depreciation	-568	-658	-1,170	-1,369	-2,646

Note 10 Alternative Performance Measures

Note 10 Alternative Performance Measures Certain information in this report that management and analysts use to assess the Group's development is not defined in IFRS. Management believes that this information makes it easier for investors to analyze the Group's earnings trend and financial position.
Investors should consider this information as a supplement to, rather than a replacement of, the financial reporting in accordance
with IFRS.
	2025	2024	2025	2024	2024
Alternative performance measures, KEUR	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Net sales previous period	42,068	67,801	78,482	127,671	266,538
Net sales current period	39,307	42,068	75,224	78,482	166,195
Net sales growth	-6.6%	-38.0%	-4.2%	-38.5%	-37.6%
Of which currency effects	-1,585	480	-750	51	703
Organic growth constant currency, %	-2.9%	-38.4%	-3.2%	-38.6%	-37.8%
Cost of services sold	-4,392	-5,476	-8,886	-11,545	-21,728
Gross profit	34,914	36,592	66,339	66,937	144,466
Gross margin	88.8%	87.0%	88.2%	85.3%	86.9%
Total customer spend	75,939	88,148	148,646	169,957	352,166
Net sales	39,307	42,068	75,224	78,482	166,195
Operating profit/loss	1,665	-5,097	-1,967	-13,526	-9,090
Operating margin, %	4.2%	-12.1%	-2.6%	-17.2%	-5.5%
Items affecting comparability	-450	4,900	12,579	7,387	12,579
Amortization and impairment on acquisition related items	6,964	7,316	14,366	14,750	29,466
Operating profit/loss before amortization (EBITA)	8,178	7,119	11,895	8,611	32,956
Operating profit/loss before amortization (EBITA) margin, %	20.8%	16.9%	15.8%	11.0%	19.8%
Items affecting comparability by category
Cost for strategic projects	-407	2,875	-494	2,875	6,648
Integration costs	-	2,025	-	4,512	4,512
Other	-44	-	-10	0	1,419
Items affecting comparability by category	-450	4,900	-504	7,387	12,579
FX gain/loss on operating balance sheet items	-214	-122	-1,206	-714	-915
Operating profit/loss before amortization (EBITA), excl FX gain/loss on operating balance sheet items	8,392	7,242	13,101	9,325	33,871
Operating profit/loss before amortization (EBITA) margin, excl FX gain/loss
on operating balance sheet items	21.3%	17.2%	17.4%	11.9%	20.4%
Accounts receivable	84,129	108,842	84,129	108,842	120,038
Other current receivable	22,931	26,467	22,931	26,467	29,900
Accounts payable	-31,396	-57,273	-31,396	-57,273	-62,269
Other current liabilities	-30,106	-43,516	-30,106	-43,516	-42,788
Net working capital	45,558	34,520	45,558	34,520	44,881
Other interest-bearing liabilities (Borrowings)	60,812	107,285	60,812	107,285	106,945
Lease liabilities - Long term	1,540	1,470	1,540	1,470	1,750
Lease liabilities - Short term	1,124	1,519	1,124	1,519	1,417
Total interest-bearing debt	63,476	110,274	63,476	110,274	110,111
Cash and cash equivalents	49,802	30,751	49,802	30,751	26,408
Net debt	13,674	79,523	13,674	79,523	83,703

Note 11 Quarterly Summary

The board of directors and executive management of Cint believes that the information provided below is of material importance to investors. Unless stated otherwise, the information and the calculations below derive from the Company's internal accounts and has neither been audited nor reviewed by the Company's auditor. The Profit and Loss format was updated as of Q1 2024, particularly with respect to revenue recognition, which transitioned from reporting a substantial portion of revenue streams on a gross basis to reporting all significant revenue streams net. Consequently, the reported figures for net sales growth on a year-over-year basis, rolling 12-month sales, and any metrics derived from these figures are not comparable to prior periods. For further information regarding the presentation format for the income statement, see the Cint Group Annual and Sustainability Report 2024. 2025 2024 ²⁰²³

Note 11 Quarterly Summary The board of directors and executive management of Cint believes that the information provided below is of material importance to investors. Unless stated otherwise, the information and the calculations below derive from the Company's internal accounts and has neither been audited nor reviewed by the Company's auditor. The Profit and Loss format was updated as of Q1 2024, particularly with respect to revenue recognition, which transitioned from reporting a substantial portion of revenue streams on a gross basis to reporting all significant revenue streams net. Consequently, the reported figures for net sales growth on a year-over-year basis, rolling 12-month sales, and any metrics derived from these figures are not comparable to prior periods. For further information regarding the presentation format for the income statement, see the Cint Group Annual and Sustainability Report 2024.
KEUR	2025 Q2	Q1	Q4	Q3	2024 Q2	Q1	Q4	Q3	2023 Q2
Net sales	39,307	35,918	45,357	42,355	42,068	36,414	72,298	66,570	67,801
Net sales growth, % Gross profit	-6.6% 34,914	-1.4% 31,424	-37.3% 40,241	-36.4% 37,287	-38.0% 36,592	-39.2% 30,345	-10.0% 46,203	-10.4% 41,386	-7.4% 42,646
Gross margin, %	88.8%	87.5%	88.7%	88.0%	87.0%	83.3%	63.9%	62.2%	62.9%
Operating profit/loss before amortization (EBITA)	8,178	3,717	12,690	11,654	7,119	1,492	12,226	9,230	6,337
Operating profit/loss before amortization (EBITA), %	20.8%	10.3%	28.0%	27.5%	16.9%	4.1%	16.9%	13.9%	9.3%
Amortization and impairment on acquisition related items	6,964	7,403	7,462	7,254	7,316	7,434	419,897	27,152	8,044
Items affecting comparability	-450	-54	3,854	1,337	4,900	2,487	3,806	3,452	3,990
Operating profit/loss (EBIT)	1,665	-3,631	1,374	3,063	-5,097	-8,430	-411,477	-21,374	-5,696
Operating margin (EBIT), %	4.2%	-10.1%	3.0%	7.2%	-12.1%	-23.1%	-569.1%	-32.1%	-8.4%
Rolling 12-month		165,698	166,195	193,135	217,350	243,083	266,538	274,582	282,331
Net sales	162,937		144,466	150,428	154,526	160,579	166,174	168,695	174,444
Gross profit	143,868	145,545
Operating profit/loss before	36,240	35,181	32,956	32,492	30,068	29,286	28,704	26,842	28,935
amortization (EBITA) Gross margin, %	88.3%	87.8%	86.9%	77.9%	71.1%	66.1%	62.3%	61.4%	61.8%

Board's assurance

The Board of Directors and the Chief Executive Officer of Cint Group AB (publ) hereby confirm that this interim report provides a true and fair overview of the operations, financial position and results of the parent company and the Group and describes material risks and factors of uncertainties faced by the parent company and the companies in the Group.

17 July 2025

Patrick Comer CEO

Anna Belfrage Chairman of the Board Donna L. DePasquale Board member

Linda Höglund Board member

Mark Simon Board member Susanne Ekblom Board member

Carl Sparks Board member

This report has not been subject to review by the company's independent auditor.

This report is published in Swedish and English. In case of any differences between the English version and the Swedish original text, the Swedish version shall apply.

For more information, please contact

Niels Boon, CFO niels.boon@cint.com

Patrik Linzenbold, Head of IR patrik.linzenbold@cint.com

Report presentation

The report will be presented via a webcast conference call on 17 July at 10.00 a.m. CEST.

Link to the live webcast:

webcast

Link to the conference call: telco

The presentation will be available in connection to the conference call and a replay will be available later the same day

Financial calendar

Q3 report 2025: October 24, 2025

Publication

This disclosure contains information that Cint Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act.

The information was submitted for publication, through the agency of the contact persons set out above at 08.00 a.m. CET on 17 July 2025.

About Cint

Cint is a global leader in research and measurement technology connecting brands, researchers, academics, or anyone with a question, to a network of over 800 suppliers representing millions of engaged respondents in 130+ countries. The Cint Exchange empowers users to gather insights at scale to build business strategies, develop research-enabled solutions, publish credible research, and more. Lucid Measurement by Cint, our advanced set of media measurement solutions, gives advertisers, media owners, and agencies the tools to measure the effectiveness and brand lift of cross-channel advertising campaigns in real time to optimize media performance while campaigns are live. Both products leverage Cint's global network of suppliers including panel providers, mobile apps, loyalty programs, and other online communities. These companies use our audience monetization tools to monetize their communities by matching them to survey opportunities.

At Cint, we're feeding the world's curiosity

Cint has a team of more than 700 FTEs in a number of global offices, including Stockholm, Barcelona, Berlin, Gurgaon, London, New York and New Orleans.

130+ countries

7 FTEs 00+

Deцnitions

Alternative performance measures	Definition	Reason for use of measures
Adjusted earnings per share (EPS)	Profit/loss for the period adjusted for items affecting comparability (net of tax effect), add-back of amortization of intangible assets from acquisitions (net of tax effect) and interest attributable to preference share.	Adjusted EPS shows the company's under-lying operative profit generation capability per share.
B2B customers	Total registered as new and active customers in the last 12 months.	-
Connected respondents	Total registered as new and active panelists in the last 12 months.	-
EBITA	Operating profit/loss before amortization of acquisition related assets.	The operating profit/loss before amortization of acquisition related assets is presented to assess the Group's operational activities and defines the underlying business performance. Whereas depreciation of capitalized development costs for the platform is included in EBITA, non-recurring items (NRI) are excluded for better comparability.
EBITA margin	EBITA in relation to the Company's net sales.	EBITA in relation to net sales. To readers of financial reports, the measure is an indicator of a company's earning ability.
Gross margin	Gross profit as a percentage of net sales.	The measure is an indicator of a company's gross earning ability.
Gross profit	Net sales for the period reduced by the total cost of services sold.	Gross profit is the profit after deducting the costs associated with providing the services.
Items affecting comparability	Significant and unusual items.	Refers to items that are reported separately as they are of a significant nature, affect comparison and are considered unusual to the Group's ordinary operations. Examples are acquisition-related expenses and restructuring costs.
Net debt	Interest-bearing non-current and current liabilities less financial assets.	The measure shows the Company's real level of debt.
Net sales growth	Change in net sales compared to same period previous year.	The measure shows growth in net sales compared to the same period during previous year. The measure is a key ratio for a company within a growth industry.
Net working capital	Current assets less current liabilities.	The measure is used since it shows the tie-up of short-term capital in the operations and facilitates the understanding of changes in the cash flow from operating activities.
Organic net sales growth	Change in net sales compared to same period previous year adjusted for acquisitions/divestments/discontinued businesses.	The measure shows growth in net sales adjusted for acquisitions, divestments and discontinued business during the last 12 months. Acquired businesses are included in organic growth once they have been part of the Group for four quarters. The measure is used to analyze underlying growth in net sales.
Operating margin	Operating profit/loss in percentage of net sales.	Operating profit/loss in percentage of net sales. To readers of financial reports, the measure is an indicator of a company's earning ability.
Operating profit/loss	Profit for the period before financial income, financial expenses and tax.	Net sales less total operating expenses. Operating profit is relevant for investors to understand the earnings trend before interest and tax.
Total customer spend	Total amount spent and processed on the platforms including total project value and any take-rates or fees	-