Digia Oyj

Earnings Release • May 8, 2025

Supplement to stock exchange release: Digia acquires the Polish company Savangard - creating a new Northern European "powerhouse" of integration services

Supplement to stock exchange release: Digia acquires the Polish company Savangard - creating a new Northern European "powerhouse" of integration services

Digia Plc
Insider information
8 May 2025 at 10:55 EEST

Digia supplements the stock exchange release published on May 8, 2025, at 9:00
with Savangard's comparative figures for 2023.

Below is the corrected release in its entirety:

Artificial intelligence is built on data and integrations. Together with
Savangard, Digia creates a significant Northern European provider of integration
and API services. The company aims for growth from Poland and more broadly from
Europe, while also improving offering and cost competitiveness in the Finnish
and Swedish markets.

Digia Plc and the owners of Savangard Sp. z o.o. have signed an agreement
whereby Digia Plc will acquire the entire share capital of Savangard Sp. z o.o.
The acquisition is set to go through on 2 June 2025.

The Savangard Group consists of Savangard Sp. z o.o. and its wholly owned
subsidiaries Peoplevibe Sp. z o.o. and Finnovative Solutions UAB ("Savangard").

Founded in 2002, Savangard is a profitably growing Polish group that provides
its customers with high-quality integration, API, and software development
services. Savangard's clients are mainly in the financial, energy, manufacturing
and public sectors.

Peoplevibe Sp. z o.o. is an expert network that focuses on providing high
-quality and cost-effective expertise. Peoplevibe will expand the offering of
Digia Hub's expertise networks.

"Digia's strategy centres on profitable growth in the long term. We now have
nine consecutive years of profitable growth behind us. This acquisition expands
our offering and target market to enable future growth. In 2024, almost 30 per
cent of Savangard's business was generated in Europe, outside the Polish market.
This transaction also balances out the country-specific risks of our business,"
says Timo Levoranta, CEO of Digia.

"The acquisition is part of the implementation of our “Unlock Your Intelligence”
strategy. Data utilized by artificial intelligence requires high-quality
integrations and API interfaces of the underlying systems. Digia is the leading
provider of integration and API services in Finland; together with Savangard, we
will become a major player in Northern Europe as well. Our vision is to be a
Northern European powerhouse of integration services. I welcome all Savangard
personnel to join us on this growth journey," says Levoranta.

Savangard Sp. z o.o. will continue to operate under the full ownership of Digia
as one of the subsidiaries of Digia Plc. Janusz Konik will remain at the helm of
the company.

Savangard's net sales under Polish GAAP for the fiscal year ending in December
2024 amounted to around EUR 16.4 million (EUR 15.8 million in 2023) and its
operating profit adjusted with normalisation items to approximately EUR 2.2
(1.7) million (approximately 13.4 per cent of net sales in 2024), excluding
Finnovative Solutions UAB, as it is expected that its pending sales process will
be completed after the transaction has been implemented. The Group employs over
150 people in Warsaw and Czestochowa. All Savangard employees will be part of
Digia's Managed Solutions business unit, and the acquisition will have no impact
on personnel. Savangard's figures will be consolidated into the Digia Group from
the acquisition date.

The total purchase price consists of a fixed debt- and cash-free purchase price
of EUR 11.62 million and a conditional additional purchase price amounting to a
maximum of EUR 4.98 million that is tied to operating profit and net sales
targets. The fixed purchase price will be reconciled using the net cash on the
closing date of 12/2024 and a reconciliation item for net working capital. The
transaction will be financed with a bank loan.

"We share a strong vision and growth objective. With Digia's support, we'll be
able to expand our operations much faster and continue to pursue growth,
enabling us to take on even more varied and extensive projects and clients
internationally," says Janusz Konik, CEO of Savangard.

"This merger will provide our existing and new customers with a broader range of
services and both the expertise and resources to deliver them. Additionally, the
acquisition strengthens our position in European tenders, e.g. in the defence
sector. The acquisition also opens up new development opportunities for current
and future Digia employees. Together, we're very strong in terms of expertise,
delivery capabilities, partners and references," says Janne Tuominen, SVP of
Digia's Managed Solutions business.

+------------------------+-------+-------+-------+-------+
| |2024 |2024 |2023 |2023 |
| |PLN'000|EUR´000|PLN´000|EUR´000|
+------------------------+-------+-------+-------+-------+
|Net sales |70,188 |16,361 |67,802 |15,805 |
+------------------------+-------+-------+-------+-------+
|Other operating income |162 |38 |196 |46 |
+------------------------+-------+-------+-------+-------+
|Materials and services |-51,309|-11,960|-47,438|-11,058|
+------------------------+-------+-------+-------+-------+
|Personnel expenses |-9,293 |-2,166 |-9,720 |-2,266 |
+------------------------+-------+-------+-------+-------+
|Other operating expenses|-3,936 |-917 |-1,025 |-239 |
+------------------------+-------+-------+-------+-------+
|EBITDA |5,811 |1,355 |9,814 |2,288 |
+------------------------+-------+-------+-------+-------+
|Depreciation |-1,463 |-341 |-1,536 |-358 |
+------------------------+-------+-------+-------+-------+
|Operating profit |4,348 |1,014 |8,279 |1,930 |
+------------------------+-------+-------+-------+-------+
|Personnel, 31 Dec. |141 |141 |137 |137 |
+------------------------+-------+-------+-------+-------+
|Balance sheet total |45,297 |10,559 |42,677 |9,948 |
+------------------------+-------+-------+-------+-------+

For further information, please contact:

Timo Levoranta
CEO, Digia Plc
tel. +358 (0)40 500 2050

The Group's pro forma key figures (Polish GAAP) for the financial position and
earnings of Savangard Sp. z o.o. and Peoplevibe Sp. z o.o. The 2024 pro forma
key figures for the Group do not include Finnovative Solutions UAB, as its
pending sales process is expected to be completed after the transaction has been
carried out, and the income statement figures in the table below have not been
adjusted with normalisation items.

Key figures originally in Polish zloty (PLN). Converted into euros at an average
rate of 0.2331. The figures are audited by MOK Audit, with Michał Okoniewski as
the responsible auditor.

Distribution

Nasdaq Helsinki
Key Media
digia.com

Digia is a software and service company that combines technological
possibilities and human capabilities to build intelligent business, society and
a sustainable future. Our mission is to ensure that our customers are at the
forefront of digital evolution. There are more than 1,500 of us working at Digia
and we operate globally with our customers. Digia's net sales totalled EUR 205.7
million in 2024. The company is listed on Nasdaq Helsinki (DIGIA). digia.com