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Flat Capital (FLAT) investor relations material
Flat Capital Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net asset value (NAV) per share increased 30% quarter-over-quarter to 14.04 SEK as of June 30, 2025, driven by positive revaluations in key AI and tech holdings.
Raised 599 MSEK in a heavily oversubscribed rights issue, significantly strengthening liquidity and enabling larger, more active investments.
Profit for Q2 2025 was 131,898 KSEK, compared to a loss of 31,907 KSEK in Q2 2024; H1 2025 profit was 122,498 KSEK versus a loss of 42,491 KSEK in H1 2024.
CEO Hanna Andreen announced her resignation, remaining in the role during a six-month notice period.
Financial highlights
NAV as of June 30, 2025: 1,371,644 KSEK, up from 648,539 KSEK at March 31, 2025.
Operating profit for Q2 2025 was 134,533 KSEK, compared to -33,911 KSEK in Q2 2024.
Change in value of financial assets in Q2 2025 was +137,376 KSEK, including a -29,823 KSEK FX effect.
Operating expenses for Q2 2025 were 2,843 KSEK, representing 1.13% of average NAV, annualized.
Cash and cash equivalents at period end: 152,233 KSEK.
Outlook and guidance
Positive trends continue in portfolio holdings, especially in AI and tech sectors.
Strong capital position enables pursuit of larger and more active investments.
Market sentiment has improved, with capital markets turning upward and increased investor risk appetite.
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