Bure Equity (BURE) Q1 2025 earnings summary

Executive summary

• Net asset value per share decreased 10.7% to SEK 297.4, with total NAV at SEK 22,051M at quarter-end, reflecting market turbulence and significant declines in several portfolio holdings.

• Group earnings after tax were SEK -2,631M compared to SEK 2,990M in Q1 2024; EPS was SEK -35.5 (40.4).

• Total return on the Bure share was -15.3%, underperforming the SIX Return Index (-0.2%).

• Market volatility was driven by geopolitical tensions, US trade policy shifts, and rising inflation risks, impacting portfolio valuations.

Financial highlights

• Group operating profit for Q1 2025 was SEK -2,637M (2,980); fair value changes from financial assets were SEK -2,672M (2,955).

• Dividends received amounted to SEK 53M (47).

• Group equity at period-end was SEK 22,057M, with an equity/assets ratio of 100%.

• Net loan receivable stood at SEK 713M (1,509).

• Cash and cash equivalents were SEK 671M (760).

Outlook and guidance

• CEO notes high uncertainty due to ongoing geopolitical and trade policy developments, with hopes for pragmatic solutions to restore stability.

• The direct impact of global trade barriers and inflation is expected to affect supply chains, costs, and demand.