Q2 2026 VNV Global AB (publ) Earnings Call Transcript
Key Points
- VNV Global AB (LTS:0A89) reported a stable net asset value (NAV) of $461 million as of June 30, with a slight increase in SEK terms.
- The company successfully completed a partial bond buyback, reducing borrowings from $46 million to $27 million.
- BlaBlaCar's profitability improved as it discontinued its low-margin Operated Bus segment, focusing on higher-margin marketplace businesses.
- Voi demonstrated strong operational performance with a 38% year-over-year revenue growth in Q1 2026 and positive adjusted EBIT.
- VNV Global AB (LTS:0A89) is establishing a regulated fund structure to capitalize on emerging market opportunities, potentially generating additional value.
- VNV Global AB (LTS:0A89) continues to trade at a significant 53% discount to its NAV, reflecting market challenges.
- The company's NAV decreased by 16% in dollar terms over the six-month period.
- HousingAnywhere's growth is tempered by significant investments, impacting short-term profitability.
- Numan's valuation decreased by 2% due to market volatility in the UK weight loss sector.
- The company faces challenges in achieving liquidity for buybacks, with no immediate exits planned for its top six holdings.
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Hey, welcome, everyone. This is our Q2. This is the day when we report our Q2, middle of summer. And -- as per usual, we prepared a few slides, and we'll open up for questions. Björn will explain how that works if you don't remember. But yeah, without further ado, let's kick off. So first out, Björn will take us through some numbers.
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Sure. Thank you, Per. (Event Instructions) So let's start with the numbers. As per June 30, VNV Global's net asset value stood at $461 million or $3.60 per share, which is flat during the quarter in dollar terms and up 2% in SEK terms. In SEK terms, NAV was SEK4.5 million or just shy of SEK35 per share. For the six-month period, NAV is down 16% in dollar terms and down 11% in SEK terms.
If you jump to the next slide, we can see that the overall investment portfolio is USD484 million
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