Tessin Nordic (TESSIN) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 increased to 4.1 MSEK from 3.7 MSEK year-over-year, but costs still exceed income.

• Net loss for Q2 2026 was -11.1 MSEK, an improvement from -14.7 MSEK in Q2 2025.

• For H1 2026, revenue was 5.1 MSEK, down from 7.9 MSEK year-over-year, with a net loss of -23.0 MSEK versus -26.9 MSEK.

• Cost control and collection of overdue receivables remain priorities amid a cautious real estate financing market.

• Largest capital mediation of the year (approx. 100 MSEK) completed in June 2026.

Financial highlights

• Q2 2026 EBITDA: -4.6 MSEK (improved from -8.1 MSEK in Q2 2025).

• Q2 2026 EBIT: -5.3 MSEK (improved from -9.2 MSEK in Q2 2025).

• H1 2026 EBITDA: -12.2 MSEK (vs. -15.4 MSEK H1 2025); EBIT: -13.7 MSEK (vs. -17.5 MSEK).

• Cash flow from operations H1 2026: -23.1 MSEK (vs. -24.7 MSEK H1 2025).

• Cash and cash equivalents at June 30, 2026: 9.9 MSEK (vs. 28.0 MSEK prior year).

Outlook and guidance

• Management continues to focus on cost reduction and sourcing new capital for real estate projects.

• Strategic review and financing plan underway; continued operations depend on further financing.

• Market remains cautious, with high capital costs and selective project developer engagement.