Admicom Oyj:Investor presentation

January 15th 2021

This presentation is not a Company Description described in the Securities Markets Act (746/2012). This presentation is solely for information purposes and is not intended to form part of or be the basis of any decision making by its recipients. The information contained herein shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Several risks are associated with investing in the company’s shares, many of which can be significant and are related to the operating environment and nature of company. If an investor is considering investing in the company’s shares, it is advisable that he or she is familiarized with the Company Description published on the company’s website at www.admicom.fi/sijoittajille before making any investment decision.

Dividend proposal :0,91 €/share

Revenue growth202040 %

EBITDA-%202045 %

KEY FIGURES 2020

Recurring monthly invoicing

91 %

Earnings per share1,36 €/share

FASTEST FINANCIAL REPORTING

0 1 1

7

23

34

42

31

8

3 41 2

0

5

10

15

20

25

30

35

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45

VIIKKO 1 VIIKKO 2 VIIKKO 3 VIIKKO 4 VIIKKO 5 VIIKKO 6 VIIKKO 7 VIIKKO 8 VIIKKO 9 VIIKKO 10 VIIKKO 11 VIIKKO 12 VIIKKO 13 VIIKKO 14

Full year results announcements 2021 (First North and OMX Helsinki Small Cap)

15.1.2021

Q1 release 2.4.2021

WEEK 1 WEEK 2 WEEK 3 WEEK 4 WEEK 5 WEEK 6 WEEK 7 WEEK 8 WEEK 9 WEEK 10 WEEK 11 WEEK 12 WEEK 13 WEEK 14

HIGHLIGHTS 2020

Admicom acquires Tocoman Oy

Through the acquisition, Admicom will strengthen its already significant market position

as a provider of construction software.

Authorization to Admicom’s accounting team

Admicom's accounting team received an official stamp to guarantee the quality of its service when it was authorized

and accepted as a member of the Finnish Financial Management Association. For the third year in a row,

customers give our accounting team a 9/10 overall rating.

Share continues to have positive track record

Although the Covid-19 pandemic have affected Admicom's share price, the share price trend has

remained positive in 2020. By October, the share value has increased tenfold since the listing.

THE GROWTH STORY ENTERS A NEW PHASE

Development phase

2004 - 2010

2021 – 2023Target: > 20 % / year

0,6 1 1,7 2,5 3,54,7

5,98,1

11,5

15,6

21,9

-0,2 0 0,1 0,2 0,6 1,1 1,9 2,94,8

7,29,6

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Liikevaihto M€ EBITDA M€

Building Services Engineering

2010 – 2013+ 61 % / year

Building Services EngineeringConstruction

2013 – 2017+ 56 % / year

Building Services EngineeringConstructionManufacturingLiteAcquisition of Tocoman Oy

2017 – 2020+ 39 % / year

Target: > 30 % / year

Aiming to growover 20 % / yearwith an EBITDA of 40-50 %

A new industry-specificorganizationmodel

Change or CEO during 2021

Strongeremphasis on inorganic growth

Revenue M€

STRATEGY 2021-2023

Organic growth Inorganic growth Critical success factors

1. Organic growth from coretarget groups and adaptationto the Covid-19 pandemic

2. New investment areas, e.g. Tocoman’s cloud-basedproduct versions and partnerships / industrynetworks

3. New services and additionalfeatures for existingcustomers

1. Wider service to existingcustomer segments in synergy with existing coreoperations

2. Technological innovations and the accumulation of business critical know-how

3. Securing market share and responding to competition

4. Competitive opportunities in international markets

1. Strengthening the forerunnerstatus through automationand reporting intelligence

2. Mobile features and usability

3. Comprehensive solution of sector-specific needs

4. Nurturing the entrepreneurialservice attitude, developingstaff competence and fostering pride in our team

CORE MARKETS *MARKETS AND COMPETITION

* Based on Admicom’s market data

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20

40

60

80

100

pienikeskikokosuuri

MEU

R

Total 190 MEUR market potentialsegmented by customer size

Kokonaismarkkina AdmicomTotal marketbig mid small

Engineering and installations(35-45 meur)

Construction(75-85 meur)

Industrial manufacturing(65-75 meur)

COMPETITION

Admicom has many partialcompetitors but it remains theonly one to provide extensiveindustry-specific SaaS ERP solution in its target groups.

• In large customer segmentcompetition includes alsoSAP, MS Dynamics AX, etc. tailored ERP solutions.

• In micro customer segmentcustomers prefer easy to deploy and use solutions.

MARKETS AND COMPETITION

FINANCIAL DEVELOPMENT IN 2020

Admicom Oyj 2020 2019 Change-%

Revenues, 1 000 € 21 917 15 641 40 %

EBITDA, 1 000 € 9 954 7 155 39 %

% of revenue 45,4 % 45,7 %

Operating profit, 1 000 € 8 618 6 613 30 %

% of revenue 39,3 % 42,3 %

Profit for the period, 1 000 € 6 699 5 291 27 %

% of revenue 31 % 35 %

Earnings per share, EPS € 1,36 1,09 25 %

Employees at the end of period 162 145

Comments Organic growth +22 % Annual adj. fees impact 0 %

Admicom Finland has strong profitability Tocoman’s profitability level has

strengthened, but continues to dilute thegroup’s figures

The growth in operating profit relative to EBITDA growth was slowed by theincrease in goodwill due to Tocoman

The number of shares increased slightlywhen shares were used as compensation in the Tocoman acquisition

The number of employees was increasedmainly by Tocoman (+16 employees)

MAIN ELEMENTS OF REVENUE GROWTH 2020

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7000

2018 2019 2020

Yritysostot

Uusmyynti

Lisämyynti asiakkaille

Tasauslaskutus

Asiakaspoistuma

Acquisitions

New sales

Upselling

Annual adjustment fees

Customer churn

New sales by customer segments (2020)

Approximately 91 % of Admicom’s revenue in 2020 consisted of recurring invoicing.

Revenue by services (2020)

Construction; 49%Building Services Engineering; 33%

Manufacturing; 15%

SaaS; 72%

Accounting Services; 21%

Education and Consulting Services; 5%Other; 2%

REVENUE AND SALES IN 2020

KEY FIGURES BY QUARTER (2020)

Q1 Q2 Q3 Q4

Revenue growth +43 % +38 % +44 % +37 %

New sales (net) +29 % +20 % +22 % +16 %

Annual adj. fees + 5 % -2 % 0 % -1 %

Acquisitions +9 % +20 % +22 % +22 %

EBITDA-% 42 % 44 % 52 % 43 %Change from the comparisonperiod in percentage points +3 -8 +2 +2

Comments Organic growth clearly slowed down

towards the end of the year as Covid-19 impacted our salesnegatively.

The impact of annual adjustmentfees on growth decreased at theend of the year.

The impact of the Tocomanacquisition on growth strengthenedtowards the end of the year.

Profitability developed positively, with the exception of Q2.

» In 2021, the company estimates that revenue growth will be10-20 % with a profitability of 40-50 % EBITDA range.

» Uncertainty in revenue growth is created by:» Ongoing Covid-19 pandemic that makes new sales and

forecasting more challenging» The slowdown in the growth of the construction

industry is likely to reduce the revenue from annual adjustment fees (5 % of revenue in 2020)

» Likely increase in loss of customers due to bankruptcies» Development of sales of new products and services» Implementation of projects aiming at inorganic growth

» The development of profitability is supported by the adjustment measures implemented in 2020 and the progress of Tocoman & Admicom –integration.

Revenue growth2021

10-20 %

EBITDA 202140-50 %

FINANCIAL INFORMATION AND OUTLOOK 2021

KEY FIGURES 2020

ADMICOM OYJ 1-12/2020 1-12/2019 Change-% 7-12/2020 7-12/2019 Change-%

Revenue, 1 000 € 21 917 15 641 40,1 % 11 178 7 977 40,1 %EBITDA, 1 000 € 9 954 7 155 39,1 % 5 315 3 642 45,9 %

% of revenue 45,4 % 45,7 % 47,5 % 45,7 %Operating profit, 1 000 € 8 618 6 613 30,3 % 4 589 3 385 35,6 %

% of revenue 39,3 % 42,3 % 41,1 % 42,4 %Profit for the period, 1 000 € 6 699 5 291 26,6 % 3 563 2 710 31,5 %

% of revenue 30,6 % 33,8 % 31,9 % 34,0 %Return on equity, % 34,5 % 38,0 % 34,4 % 38,8 %Return on investment, % 44,4 % 48,0 % 44,3 % 48,5 %Equity ratio, % 85,5 % 81,0 % 85,5 % 81,0 %Gearing ratio, % -61,4 % -100,0 % -61,4 % -100,0 %Earnings per share, EPS € 1,36 1,09 24,7 % 0,72 0,56 29,6 %Balance sheet total, 1 000 € 26 335 20 147 26 335 20 147Employees at the end of period 162 145 162 145Amount of shares at the end of period, 1 000 4 925 4 883 4 925 4 883Amount of shares by average (adjusted by issue of shares), 1 000 4 918 4 845 4 925 4 853

PROFIT AND LOSS STATEMENT 2020

1 000 EUR 1-12/2020 1-12/2019REVENUE 21 917 15 641Other operating income 4 52Variable costs -1 059 -540Staff expences -8 209 -6 056Depreciation and reduction in value -1 336 -541Other fixed operating costs -2 699 -1 942OPERATING PROFIT (-LOSS) 8 618 6 613Financial income and expencesOther interest income and other financial income 7 18Interest and other financial expenses -16 -3

PROFIT (LOSS) BEFORE APPROPRIATIONS AND 8 609 6 629TAXESIncome taxes -1 910 -1 338PROFIT (LOSS) OF THE FINANCIAL YEAR 6 699 5 291

BALANCE SHEET 20201 000 EUR 12/2020 12/2019ASSETSNON-CURRENT ASSETSIntangible assetsCapitalized development costs 379 570Intangible rights 134 242Other intangible assets 5 8Company goodwill 9 486 203

Tangible assetsMachinery and equipment 251 243

InvestmentsOther shares and righs of ownership 3

NON-CURRENT ASSETS IN TOTAL 10 258 1 265

CURRENT ASSETSInventoryRaw materials and consumables 15 13

Inventory in total 15 13

Short-term receivablesAccounts receivables 2 032 1 798Other receivables 124 71Prepayments and accrued income 89 679

Short-term receivables in total 2 244 2 547

Cash at bank 13 818 16 322

CURRENT ASSETS IN TOTAL 16 077 18 882

ASSETS IN TOTAL 26 335 20 147

1 000 EUR 12/2020 12/2019EQUITY AND LIABILITIESCAPITAL AND RESERVES

Share capital 106 106Other reserves 12 489 9 489Retained earnings / loss 3 216 1 441Profit / loss of the financial year 6 699 5 291

CAPITAL AND RESERVES IN TOTAL 22 510 16 327

CREDITORSShort-term creditors

Trade creditors 54 131Other creditors 812 699Accruals and deferred income 2 958 2 990

CREDITORS IN TOTAL 3 825 3 821

EQUITY AND LIABILITIES IN TOTAL 26 335 20 147

SaaS ERP for small and medium sized businesses