Qt Group Oyj

Earnings Release • Apr 24, 2025

Qt Group Plc: Interim statement January-March 2025

Qt Group Plc: Interim statement January-March 2025

Qt Group Plc, stock exchange release, April 24, 2025 at 8.00 am EEST

This release is a summary of Qt Group Plc's Interim Statement for January-March
2025. The complete report is attached to this release as a PDF file, and it is
also available on the company's website at www.qt.io/investors.

First quarter 2025: Challenging operating environment slowed down net sales
growth

January-March 2025

· Net sales increased 4.8 percent to EUR 47.2 million (EUR 45.1 million). The
effect of exchange rates on the comparison period's net sales was EUR 0.6
million, and at comparable exchange rates, net sales increased by 3.4 percent.
· Operating profit (EBITA) was EUR 8.5 million (EUR 11.0 million) or 17.9
percent (24.3%) of net sales.
· Operating profit (EBIT) was EUR 6.5 million (EUR 9.0 million) or 13.7
percent (19.9 %) of net sales.
· Earnings per share were EUR 0.20 (EUR 0.30).

The figures in brackets refer to the comparison period, i.e., the corresponding
period in the previous year. The percentage of change in net sales at comparable
exchange rates is calculated by translating the net sales from the comparison
period of 2024 with the actual exchange rates of the reporting period of 2025
and by comparing the reported net sales in 2025 with the calculated 2024 net
sales at comparable exchange rates.

Key figures

[][][][]
EUR 1,000   1-3/2025   1-3/2024 Change, %  1-12/2024
Net sales   47,236 45,078 4.8% 209,063
Operating profit (EBITA) 8,460 10,961 -22.8% 71,199
EBITA, % 17.9% 24.3% 34.1%
Operating profit (EBIT) 6,452        8,954 -27.9% 63,169
EBIT, % 13.7% 19.9% 30.2%
Return on equity, % 2.7% 6.0% 38.1%
Return on investment, %  3.4% 6.9% 43.4%
Interest-bearing liabilities[1] 7,599       4,463 70.3%     4,316
Cash and cash equivalents[1]   80,570      34,436 134.0%  64,861
Net gearing, %[1] -39.8% -23.1% -33.9%
Equity ratio, %[1] 82.3% 71.6% 81.6%
Earnings per share (EPS), EUR  0.20 0.30 -34.8%     2.26
Diluted earnings per share, EUR   0.20 0.30 -34.6%     2.26
Personnel, on average 878 797 10.1% 834

[1] At the end of period

Juha Varelius, President and CEO

Geopolitical tensions cause significant uncertainty to Qt Group's operating
environment and global trade in general, which slowed down the company's net
sales development during the first quarter. Net sales increased 3.4 percent at
comparable exchange rates and was EUR 47.2 million. Weak economic situation and
uncertain outlook increased companies' caution to start new product development
projects or make additional investments in on-going projects. Quality assurance
and testing business grew in line with our expectations.

Operating profit (EBITA) was EUR 8.5 million or 17.9 percent of net sales in
January-March 2025. Operating profit development was burdened by weaker than
estimated net sales growth. The company continued long-term strategic
investments as planned, and in January-March 2025 personnel increased especially
with marketing and R&D experts in quality assurance and testing business. Total
personnel were 888 at the end of the quarter.

Qt Group lowers its net sales outlook for 2025 due to significant uncertainty
caused by geopolitical risks. Possible tariffs and trade wars may, if realized,
cause considerable harm to companies' willingness to invest and business
commerce in the short and medium term at least. Despite the challenging market
environment, the company's long term growth outlook is still very positive. The
increase in the number of displays and devices is a significant growth driver to
Qt development tools, while the growing use of AI in software development
increases the need for quality assurance tools and test automation.

Outlook for 2025

Outlook for 2025 (issued on April 23, 2025):

We estimate that our full-year net sales for 2025 will increase by 10-20 percent
year-on-year at comparable exchange rates and that our operating profit margin
(EBITA %) will be 30-40 percent in 2025.

News conference

Qt Group will organize an English-language news conference on April 24, 2025, at
1:00 - 2:00 pm EEST in Helsinki, Finland, and as a live webcast
at www.qt.io/investors (https://www.qt.io/investors?hsLang=en). CEO Juha
Varelius and CFO Jouni Lintunen will be presenting the results.

Analysts and investors can participate in the news conference in person or via
conference call at https://palvelu.flik.fi/teleconference/?id=50051503.

Further information:
President and CEO Juha Varelius, tel. +358 9 8861 8040

Distribution:
Nasdaq Helsinki
Key media
www.qt.io

Attachments: