Q1 2026 Enity Holding AB (publ) Earnings Call Transcript
Key Points
- Enity Holding AB (FRA:II6) reported a strong net profit of SEK187 million, up 135% quarter-on-quarter and 282% year-on-year.
- The acquisition of UNO Finance was completed, contributing SEK10 million in operating profit for March and expected to support future growth.
- The Norwegian krona strengthened during the quarter, which is expected to positively impact net interest margin and income in the second quarter.
- Finland showed strong internal performance with a loan book up 49%, despite a weak housing market.
- The company launched new products, such as Home Loan Plus and a second charge product in Sweden, to enhance financial inclusion and customer offerings.
- Geopolitical uncertainty and rising energy prices have created a volatile financial market environment, impacting consumer confidence in the Nordic regions.
- Net interest income was pressured by timing effects, including fewer calendar days and adverse timing of interest rate changes.
- Credit losses remain elevated, with a 24 basis point loss in the first quarter, and are expected to stay high due to a subdued housing market.
- Sweden's market activity was low, with higher redemptions and slowed new transactions, impacting growth expectations.
- The CET1 capital ratio is temporarily below target due to the UNO acquisition, though expected to recover with future profit generation.
Welcome to the Enity Q1 2026 report presentation. (Operator's Instruction) Now I will hand the conference over to CEO Bjoern Lander and CFO Pontus Sardal.
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Good morning, everyone, and welcome to Enity and first quarter 2026. This is Bjarne speaking, and I am here today together with our CFO, Pontus Sardal.
It has been a very eventful first quarter, marked by continued geopolitical uncertainty, not least due to the ongoing conflict in the Middle East that escalated at the end of February.
When we last met around the Q4 report, market sentiment was quite optimistic. We expected housing markets in Sweden and Finland to recover, supported by further rate cuts and anticipated that Norway would begin its rate cutting cycle.
Since then, the macro environment has shifted materially. Geopolitical uncertainty has pushed up energy prices; financial markets have become more volatile and market rates have reversed course and moved higher. Consumer
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