)
Edge31 Oct 2025
Rolls-Royce: Full Thrust Ahead
From century-old crafted perfection to pandemic shock and reset, Rolls-Royce's story is shaped by heritage, turbulence, and a disciplined climb back.
VNV Global (VNV) investor relations material
VNV Global Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary28 Oct, 2025
Executive summary
NAV at September 30, 2025, was USD 587.09 million (SEK 5.52 billion), or USD 4.52 (SEK 42.53) per share, down 1.1% in USD and 2% in SEK from the previous quarter.
NAV per share in USD increased 1.82% year-to-date, but decreased 12.89% in SEK due to FX movements.
Portfolio value at quarter-end was USD 652 million, with USD 581 million in investments and USD 71 million in cash.
Share price trades at a 44% discount to NAV; 1,082,706 shares repurchased in Q3, reducing shares outstanding to 129.9 million.
Net cash position of approximately USD 16 million achieved post-quarter after exits and debt repayments.
Financial highlights
Net result for the nine months was USD 8.26 million, driven by positive revaluation of Voi, negative revaluation of BlaBlaCar, and the divestment of Gett.
Largest holding, BlaBlaCar, valued at USD 184 million, down 8% in Q3; Voi valued at USD 137 million, up 7% in Q3.
Numan and Breadfast valuations stable; HousingAnywhere down 11% due to peer multiple compression.
Top six holdings represent 77% of NAV; mobility sector is 57% of portfolio value.
Portfolio is roughly 80% EBITDA positive, with pro rata adjusted EBITDA margin improving from -6% in 2023 to 3% estimated in 2025.
Outlook and guidance
Management expects top six portfolio companies to deliver USD 150 million in net revenue in 2025 (VNV’s share), with 40% YoY growth and an adjusted EBITDA margin of 3%.
Earnings multiple for top six holdings estimated at 10x adjusted EBITDA, with remaining portfolio seen as additional upside.
No major funding rounds planned for large holdings; focus on buybacks and supporting portfolio growth.
Increasing share of portfolio companies are adjusted EBITDA positive, rising from 62% in Q3 2024 to 77% in Q3 2025.
Detail the path to net cash position
Explain NAV conservatism given recent exits
BlaBlaCar's emerging market monetization strategy?
BlaBlaCar monetization timeline for Brazil/India?
Voi IPO readiness and potential triggers?
Future share buyback strategy with net cash?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next VNV Global earnings date
Q4 202529 Jan, 2026
Next VNV Global earnings date
Q4 202529 Jan, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
VNV Global AB is a Private Equity and Venture Capital firm based in Stockholm, Sweden, specializing in growth capital, buyout investments, incubation, seed/startup, early venture, mid venture, late venture, expansion stage, public market equivalent investments, and middle market investments. It also seeks to invest in acquisitions and pre-IPO situations.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage