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I Love Lund (LOVE) investor relations material
I Love Lund Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved best quarterly result in recent years, with book value and estimated NAV increasing over the quarter, despite a strict write-down policy and challenging market.
Portfolio diversification and risk management prioritized, with Beammwave now the largest holding by market value.
Largest new investment to date: SEK 1.4m in Lead Biologics, a cancer immunotherapy company.
Shareholder base grew by about 30 during the quarter, reflecting increased visibility and local investment interest.
Relative return up +15% for the quarter and +27% for the year, with portfolio volatility halved compared to benchmarks.
Financial highlights
Net sales for the period were SEK 0 (0); other operating income SEK 13,950 (27,900).
Operating loss for H1 2025 was SEK -1.6m (H1 2024: -1.5m); Q2 operating loss SEK -837k (Q2 2024: -811k).
Net financial items for H1: SEK -2.4m, impacted by a SEK -2.9m one-off write-down from a new valuation principle for listed holdings.
Result after financial items for H1: SEK -4.0m (H1 2024: -3.0m); Q2 result after financial items: SEK 211k (Q2 2024: -961k).
Equity per share at period end: SEK 83.65 (106.67); NAV per share: SEK 116.42.
Earnings per share for H1: SEK 0.49 (-2.5) for Q2.
Cash and cash equivalents at period end: SEK 890k; no long-term interest-bearing debt.
Segment performance
Portfolio consists of about 50 companies, mainly early-stage, innovative, unlisted firms in Lund and Greater Lund.
Largest holdings by value: Beammwave (5G/6G tech), Camurus (pharma), Alfa Laval (industrial), Finshark (fintech), Parlametric (AI analytics), Life Finder (IoT safety), Lead Biologics (cancer therapy).
Notable portfolio developments: Beammwave's share price surged; Finshark transitioned to profitability; Sensative and LifeFinder completed successful capital raises.
New investments: SEK 1.4m in Lead Biologics; follow-on investments in LifeFinder and Sensative.
Partial divestments in Camurus and Alfa Laval generated SEK 3.15m in positive cash flow for the half-year.
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