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Edge29 May 2026
Who You Gonna Call? The Story of Rollins
How Rollins built one of America's most consistent businesses through recurring pest control, trusted local brands, and decades of acquisitions.
Vetted Assets
Vetted Assets (VETT) investor relations material
Vetted Assets Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary22 May, 2026
Executive summary
Q1 2026 is the last quarter reported as Refine Group before transitioning to Vetted Assets, with new management and strategy not yet reflected in operational results.
The quarter serves as a baseline, with significant portfolio restructuring, including the divestment of Ecomm Holding AB and Browgame Sweden AB, and the acquisition of Andy okay AB post-period.
Early indications in April 2026 show strong growth in acquired and existing holdings under the new Vetted Assets model.
Financial highlights
Net revenue for Q1 2026 was SEK 24.9m, down from SEK 33.7m year-over-year, mainly due to fewer active subsidiaries.
Adjusted EBITDA improved to SEK -1.9m from SEK -3.2m, while reported EBITDA was SEK -4.7m versus SEK -4.0m.
EBITA was SEK -4.8m (Q1 2025: SEK -4.2m); net result after tax was SEK -11.7m (Q1 2025: SEK 1.7m).
Earnings per share were SEK -0.08 (Q1 2025: SEK 0.02).
Cash flow for the quarter was SEK 2.0m (Q1 2025: SEK -5.3m); cash at period end was SEK 8.9m.
Outlook and guidance
New financial targets for 2030: revenue of SEK 1.2–1.4bn, adjusted EBITDA margin of 7–10%, and net debt/EBITDA below 2.5x.
April 2026 saw preliminary group revenue of SEK 25.4m, up 137% year-over-year, including Andy okay AB.
Organic revenue growth in operational companies was approximately 49% in April 2026 compared to April 2025.
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Latest events from Vetted Assets
- Profitability rebounded in 2025 despite lower sales, with a stabilized financial position and reduced debt.VETT
Q4 202513 Feb 2026 - Restructuring and cost savings improved margins and reduced losses, with new digital asset initiatives.VETTQ3 20257 Nov 2025
- Revenue fell sharply year-over-year, but gross margin and financial stability improved.VETTQ2 202522 Aug 2025
- Q3 2024 saw improved profitability and reduced debt, with market conditions gradually stabilizing.VETTQ3 202413 Jun 2025
- Q2 saw improved sales, positive EBITDA, and strengthened finances amid a challenging market.VETTQ2 202413 Jun 2025
- Net profit turned positive in Q1 2025 despite lower sales, driven by divestments and debt cuts.VETTQ1 20256 Jun 2025
- Operational turnaround underway with reduced debt and improved subsidiary EBITDA.VETTQ4 20245 Jun 2025
Next Vetted Assets earnings date
Q2 202628 Aug, 2026
Vetted Assets
Next Vetted Assets earnings date
Q2 202628 Aug, 2026
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