Sweden · Delayed Price · Currency is SEK Flerie AB Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong financing, raising SEK 208 million and boosting NAV to SEK 3.7 billion. The investment ratio reached 2.33x, with significant R&D progress and a completed Lipum merger, despite challenging market conditions.
Fiscal Year 2025
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Q4 saw a 14% NAV decline to SEK 3.4 billion, driven by write-downs in key holdings and strategic divestment of the LP segment. Management remains optimistic, citing strong clinical progress, robust cash reserves, and a focus on direct investments for long-term value creation.
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NAV declined to SEK 3.9 billion in Q3, impacted by write-downs and share redemptions. Key portfolio milestones included successful capital raises, a merger, and new strategic partnerships, while market conditions showed early signs of recovery.
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Celebrating its IPO anniversary, the company reported a SEK 4.1 billion NAV, strong cash position, and portfolio growth driven by clinical and commercial stage investments. Outperformed key indices despite a tough macro environment, with innovative M&A and capital management strategies.
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Q1 saw a SEK 251 million NAV decline, driven by negative fair value changes, FX losses, and a full write-off of Provel Pharmaceuticals. Portfolio management included a premium divestment of A3P and a proposed Toleranzia merger, while maintaining strong liquidity and a 14% NAV discount.
Fiscal Year 2024
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NAV ended Q4 2024 at SEK 4.2 billion, down 1.5% sequentially, with strong co-investor leverage and significant new investments in AnaCardio, Chromafora, and Nanologica. Product development segment faced valuation declines, but cash position remains robust and a redemption program is in place.
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NAV decreased to SEK 4.262 billion in Q3, with a -2.7% drop in NAV per share and a net loss of SEK 117 million. Portfolio value was impacted by listed company volatility, but strong cash reserves and a new share redemption scheme support future investments and liquidity.
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Achieved Nasdaq Stockholm listing, raised SEK 1 billion, and grew NAV to SEK 4.4 billion, with a 2.1% adjusted NAV per share increase. Portfolio value rose, driven by gains in key holdings, and the company plans to deploy 10% of NAV annually, focusing on risk-mitigated biotech investments.