Arbona (ARBO) Q1 2026 earnings summary

Executive summary

• Q1 2026 EPS was -0.10 SEK, down from -0.09 SEK in Q1 2025, mainly due to negative capital management returns and a major fire at Lann Industries, though production has nearly recovered.

• Stable development in core businesses; Termodyn showed clear growth, and Transportteknik expanded both organically and via acquisitions.

• Two new companies, Pheenix Alpha and Boier Bilverktyg, were acquired, aligning with the strategy of investing in profitable, niche businesses.

• The new business area, Sharpest Development, launched its first company and is progressing as planned.

Financial highlights

• Capital management delivered a -2.3% return, outperforming the small-cap index at -7.9% for the period.

• Net asset value per share increased to 3.78 SEK from 3.59 SEK year-over-year.

• Portfolio value at period end was 1,225.5 MSEK, with 97.2% in listed assets.

• Notable positive contributors: Millicom, Attendo, Nordrest; negative: Eastnine, Apotea.

Outlook and guidance

• Market remains cautious with delayed customer decisions and ongoing geopolitical and trade uncertainties.

• Focus remains on controllable factors and being a reliable partner to customers.