Öresund (ORES) investor relations material

Executive summary

• Net asset value (NAV) increased by 11.0% to SEK 5,720 million (SEK 126/share) for the period January–June 2026, outperforming the SIX Return Index, which rose 8.1%.

• Earnings per share for the period were SEK 13.26, compared to SEK 16.76 for the same period last year.

• Major positive contributions to NAV came from holdings in Scandi Standard and Bilia; no significant negative impacts from any holdings.

• The share price total return was 22% for the half-year, with the share trading at SEK 140.20 at period end.

Financial highlights

• Consolidated profit for January–June 2026 was SEK 603 million (SEK 762 million last year).

• Value changes in securities amounted to SEK 501 million, and received dividends were SEK 105 million.

• Second quarter profit was SEK 107 million (SEK 617 million last year).

• Cash and cash equivalents at June 30, 2026, were SEK 204 million, up from SEK 74 million at year-end.

• No outstanding options with less than 12 months to maturity as of June 30, 2026.

Outlook and guidance

• Management expects continued strong performance from profitable companies with stable cash flows, especially in sectors like AI, electrification, and defense.

• Swedish consumer outlook is expected to improve, benefiting portfolio companies such as Bilia, Scandi Standard, and Scandic Hotels.