Q4 2025 VNV Global AB (publ) Earnings Call Transcript
Key Points
- VNV Global AB (VSTKF) has a diversified investment portfolio valued at $589 million, with significant holdings in companies like BlaBlaCar and Voi.
- The company has been actively repurchasing shares, holding approximately 2.4 million common shares, representing 1.8% of the outstanding shares.
- Voi, a major holding, has shown strong revenue growth of 30% and margin expansion, increasing its importance in VNV Global AB (VSTKF)'s portfolio.
- BlaBlaCar is expanding in emerging markets like India and Brazil, with plans to monetize these markets, potentially increasing revenue.
- VNV Global AB (VSTKF) maintains a strong cash position with $55 million in cash, providing flexibility for future investments and buybacks.
- The company's NAV decreased by 5.9% in USD and 8% in SEK during the quarter, reflecting a challenging market environment.
- VNV Global AB (VSTKF) continues to trade at a significant discount to NAV, with an implied 49% discount, indicating potential undervaluation concerns.
- Key holdings like BlaBlaCar and Voi experienced valuation declines due to lower peer multiples and conservative EBITDA forecasts.
- The company faces currency exposure challenges, with a historical USD reporting currency not aligning with current portfolio currency exposure.
- Despite positive performance in some holdings, the overall portfolio's NAV has been marked down, reflecting broader market volatility.
()- -
Okay. Welcome, everyone our Q4 call, the VNV Global Q4 call. So welcome to this call. I'm Per. I'm joined by Bjorn and Dennis, my colleagues, who'll walk you through the results, what's going on in the portfolio, touch upon a few of the holdings.
And there is -- so we'll walk through the presentation and then there will be Q&A afterwards. We -- so if you want to ask a question, please use the Zoom Q&A sort of function. This is the same as we've done in previous calls. So I think it's self-explanatory. So let's kick things off.
And first numbers. I pass the microphone to my colleague, Bjorn.
()- -
Thank you, Per. If you can move to the next slide, we'll start with that. So as per year-end 2025, VNV Global's NAV stood that $547 million or roughly $4.25 per share, down 5.9% in USD during the quarter. In
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
