Investor (INVE) Q1 2026 earnings summary

Executive summary

• Adjusted net asset value grew 3% in Q1 2026 to SEK 1,125.1bn, with total shareholder return at 7%, outperforming the SIXRX index which declined 1%.

• Listed Companies delivered a 5% total return, Patricia Industries 4%, while Investments in EQT saw a -13% return, mainly due to a 22% drop in EQT AB share price.

• The business environment remains challenging due to geopolitical tensions, cost inflation, and supply chain risks, but portfolio companies are adapting well and maintaining strong market positions.

• Strong financial position with leverage at 1.2% and gross cash of SEK 37,378m, supporting ongoing capital deployment and dividend growth.

• High activity across all business areas included investments in listed companies, Patricia Industries, and EQT.

Financial highlights

• Adjusted NAV per share increased to SEK 367 from SEK 355 sequentially; reported NAV per share rose to SEK 321 from SEK 311.

• Total adjusted assets amounted to SEK 1,139bn; Listed Companies comprised SEK 830bn, Patricia Industries SEK 218bn, and Investments in EQT SEK 91bn.

• Consolidated net sales reached SEK 16,130m, up from SEK 15,990m year-over-year.

• Profit for the period was SEK 30,105m, compared to a loss of SEK 3,048m in Q1 2025.

• SEK 1.5bn in proceeds from SEB share divestment; SEK 14.4bn expected ordinary dividend inflow for 2026.

Outlook and guidance

• Companies are expected to continue investing to future-proof their businesses, with a focus on agility, customer-centricity, and AI adoption.

• Expectation to receive SEK 14.4bn in ordinary dividends from Listed Companies in 2026, plus extraordinary dividends.

• Financial flexibility and recurring cash flow position the group to invest and pay a steadily rising dividend.

• No major shift in U.S. demand detected; volatility and destocking noted in some segments.

• No formal guidance provided, but long-term confidence in profitable growth, especially for Nova Biomedical.