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Havsfrun Investment
Havsfrun Investment (HAV) investor relations material
Havsfrun Investment Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary18 Feb, 2026
Executive summary
Substantial improvement in annual results, with net income of 12.9 MSEK compared to -2.5 MSEK the previous year, and EPS of 1.07 SEK versus -0.21 SEK.
Net asset value (NAV) per share increased by 11.7% year-over-year, adjusted for dividends, reaching 9.09 SEK per share.
B share total return was 23.7% for the year, with the share price closing at 14.55 SEK, a 60% premium to NAV.
Strategic expansion through the establishment and listing of subsidiary HF Reverse (RTO) AB, focusing on smaller acquisitions and reverse takeovers.
Proposed dividend of 1.00 SEK per share, yielding 6.9%.
Financial highlights
NAV at year-end: 110.1 MSEK (previous year: 110.4 MSEK).
Annual net income: 12.9 MSEK (previous year: -2.5 MSEK).
Cash and cash equivalents: 60.5 MSEK at year-end.
Investment portfolio grew by 42.2% in value, outperforming both Swedish and global equity indices.
B share total return: 23.7% (previous year: -8.6%).
Outlook and guidance
January 2026 saw a further 0.1% increase in NAV, with a continued focus on liquid financial assets pending new structural investments.
The company aims to act opportunistically to identify value-creating opportunities, leveraging its public listing and new business areas.
Why is HF Reverse not valued at market price?
Future capital allocation strategy
Drivers of B-share premium vs NAV
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Latest events from Havsfrun Investment
- Net asset value per share up 12% and B share total return 30.4%, with HF Reverse listed.HAV
Q3 202522 Oct 2025 - NAV per share up 5.6%, strong portfolio return, and HF RTO subsidiary set for listing.HAVQ2 202519 Aug 2025
- Substansvärdet ökade svagt, men B-aktiens totalavkastning var negativ och portföljen underpresterade.HAVQ3 202413 Jun 2025
- Svagt halvår med negativ avkastning och fortsatt fokus på strukturell expansion.HAVQ2 202413 Jun 2025
- NAV up 2.4% and portfolio outperformed markets; SPAC launch planned for 2025.HAVQ1 20256 Jun 2025
- Substansvärdet minskade 2,0% och resultatet blev -2,5 MSEK för 2024.HAVQ4 20245 Jun 2025
Next Havsfrun Investment earnings date
Q1 202623 Apr, 2026
Havsfrun Investment
Next Havsfrun Investment earnings date
Q1 202623 Apr, 2026
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Eferix Drawings Google Play
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