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Flerie (FLERIE) investor relations material
Flerie Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Celebrated one-year IPO anniversary, highlighting significant portfolio and financial progress since the reverse merger in June 2024.
Maintained position as a top-tier European investment company with SEK 4.1 billion in assets and SEK 737 million in cash.
Mature portfolio with 93% of fair value in clinical and commercial stages, focusing on high-potential biotech and pharma investments.
Outperformed Nasdaq Biotechnology Index and Swedish Investment Company Index over the past year.
Net profit for the quarter reached SEK 174 million, with earnings per share of SEK 2.22 before and after dilution.
Financial highlights
Net asset value (NAV) at Q2 end: SEK 4,121 million, up from SEK 3,947 million in Q1, mainly due to positive share price development.
NAV per share increased to SEK 52.78, up 4.4% quarter-over-quarter and 15.9% above market price.
Portfolio value rose from SEK 2.9 billion in Q1 to nearly SEK 3.1 billion in Q2, driven by a NOK 175 million positive change in fair value.
Investments during the quarter totaled NOK 65 million, mainly in follow-on rounds; divestments decreased portfolio value by NOK 20 million.
Cash and cash equivalents stood at SEK 737 million at quarter-end, with a neutral cash position for the quarter.
Outlook and guidance
Target deployment rate of 10% of NAV, with recent 12-month rate at 8%.
Continued focus on pro rata investments and strategic financial execution to navigate market volatility.
Actively seeking new opportunities, including collaboration with KKR for private equity pharma services investments.
Management remains optimistic about long-term biotech sector prospects, citing demographic trends and recent high-value M&A activity.
Share redemption program was well received, with 4.73% of share capital tendered.
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