Alpcot (ALPCOT) Q3 2025 earnings summary

Executive summary

• Provisions income rose to 82.3 MSEK for Jan–Sep 2025 (69.4 MSEK in 2024), with Q3 at 28.7 MSEK (22.6 MSEK in Q3 2024).

• Operating result (excl. depreciation and value changes) improved to 1.4 MSEK (–12.4 MSEK) for Jan–Sep; Q3 adjusted result before value changes and depreciation was +0.9 MSEK.

• Net result for Jan–Sep was –1.9 MSEK (–23.9 MSEK); Q3 net result was –4.7 MSEK (–0.1 MSEK).

• Strong cost control led to a 9% reduction in operating costs year-over-year.

• Capital inflow of approximately 830 MSEK YTD, with portfolio management assets up 45% year-over-year to 3,909 MSEK.

Financial highlights

• Revenue for Jan–Sep 2025: 51.4 MSEK (34.9 MSEK in 2024), up 48%.

• Q3 revenue: 14.1 MSEK (17.3 MSEK in Q3 2024).

• Q3 operating result (excl. depreciation and value changes): –0.8 MSEK; adjusted for one-offs: +0.9 MSEK.

• Q3 net result: –4.7 MSEK (–0.1 MSEK in Q3 2024); EPS: –0.03 SEK (0.00 SEK).

• Cash position at quarter-end: 16.6 MSEK (12.7 MSEK in Q3 2024).

Outlook and guidance

• Management expects continued growth in recurring revenues and further integration of Gadd & Cie, pending regulatory approval in Q4.

• Financial targets for 2027: operating income of at least 90 MSEK and EBITDA margin of at least 30%.