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Whitestone Group (ROCK) investor relations material
Whitestone Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
NAV reached €189.9m at 30 June 2026, up 47.2% in six months; fully diluted NAV per share rose 1.7% to €18.4.
Statutory recurring net profit increased to €2.1m from €0.6m in H1 2025, driven mainly by portfolio dividends and interest income.
Financial highlights
Statutory H1 revenue was €309k, down 7% YoY; EBITDA was -€508k versus -€219k, while financial result rose to €4.3m from €829k.
Statutory net profit was €3.24m versus €589k; adjusted for a €1.7m intra-group transfer gain and €0.6m capital-raising costs, recurring net profit was €2.1m.
Wfin H1 revenue increased 32% to €698k; EBITDA was -€574k versus -€345k, recurring net profit reached €2.084m and net profit was €1.524m.
Outlook and guidance
Expected full-year expense level implies a TER of 0.6% of NAV, below the 1% cap and the 2% management fee typically charged by private equity funds.
Portfolio-company H1 results were in line with or above 2025; versus budget, Tilman and Lambda-X outperformed, several holdings lagged, and Telemis, Mäder, Battri and Whitestone Partners were on track.
- H2 NAV climbed 6% to €106M as investment accelerated, while FY2024 consolidated net loss reached €2.3M.ROCK
H2 2024 - NAV rose 21.7%, EBITDA reached €9.8M, and a further share offering is planned.ROCK
H2 2025 - 2025 saw record revenues, NAV growth, and strategic expansion in private equity and asset management.ROCK
AGM 2026 presentation - Digital innovation and compliance drive growth in physical gold trading and secure storage.ROCK
Investor day Presentation 2025 - €59.7M raised; NAV reached €99.7M and fully diluted NAV/share was €14.35.ROCK
H1 2024 - NAV rose 14.2% to €121M as GFI drove growth and portfolio rotation began.ROCK
H1 2025
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