Sweden · Delayed Price · Currency is SEK VEF AB Earnings Call Transcripts
Fiscal Year 2026
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NAV declined 5.8% QoQ due to market sell-off, but portfolio companies delivered strong growth and exits, notably in Juspay. Focus remains on deleveraging, share buybacks, and leveraging AI-driven efficiency, with Latin America providing macro tailwinds.
Fiscal Year 2025
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NAV rose 6.9% in Q4 and 22.9% for 2025, driven by Creditas' growth and fundraising. Exits brought in $37M, strengthening liquidity, while portfolio companies are set for continued growth in 2026. Capital allocation will balance debt reduction, buybacks, and new investments.
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NAV rose 8.3% QoQ to $405.7M, driven by strong portfolio growth, especially in Creditas and Konfío. Fintech markets are robust, with healthy capital flows and increased fundraising. Balance sheet strengthened by exits, debt reduction, and share buybacks.
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NAV rose 6% YTD and 5% QoQ, driven by strong portfolio growth, exits, and FX tailwinds. Three exits in 12 months enabled debt reduction and share buybacks, with continued focus on value-accretive capital allocation and robust growth expected across key holdings.
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NAV rose 1% quarter-on-quarter, driven by strong portfolio growth and successful exits, with $32 million realized at or near NAV. Liquidity is now net positive, enabling share buybacks and bond redemption, while further exits and robust portfolio growth are expected in 2025.
Fiscal Year 2024
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NAV dropped 26% QoQ to $353M, mainly due to Brazil's macro and FX headwinds, despite strong portfolio company performance and two major exits. Portfolio forecasts 35% revenue and 40% profit growth in 2025, with improved liquidity and a focus on deleveraging and buybacks.
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NAV rose 9% QoQ to $475M, driven by strong portfolio performance, capital inflows, and market tailwinds. Top holdings Creditas and Konfio reignited growth, while liquidity and balance sheet strengthening remain key priorities.
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NAV remained stable at $436.6 million, with over 90% of the portfolio now break-even and key assets like Creditas achieving profitability and renewed growth. The company expects 30% revenue and 60% gross profit growth in the next year, while focusing on exits and new investments to strengthen the balance sheet.