Bure Equity (BURE) Q2 2025 earnings summary

Executive summary

• Net asset value per share fell 16.5% to SEK 277.9 from SEK 333.0 at year start; total net asset value at SEK 20,604M, down from SEK 24,689M.

• Group earnings after tax were SEK -3,881M compared to SEK 4,754M year-over-year; EPS at SEK -52.4 (64.0).

• Total return on the share was -24.8%, underperforming the SIX Return Index's 2.5% gain.

• Portfolio performance was mixed, with significant declines in Yubico and Vitrolife, but strong sales and acquisitions by Mycronic.

• High transaction activity included major investments in Silex Microsystems and Cavotec, and divestments in Ovzon and Mycronic.

Financial highlights

• Net asset value per share at 30 June 2025: SEK 277.9, down 16.5% year-to-date.

• Group earnings after tax for H1 2025: SEK -3,881M (4,754); operating profit SEK -3,888M (4,735).

• Dividends received totaled SEK 246M; ordinary dividend paid was SEK 2.75 per share (SEK 204M total).

• Net receivables at period end: SEK 588M (1,454); equity/assets ratio at 100%.

• Cash and cash equivalents at 30 June 2025: SEK 535M (892).

Outlook and guidance

• Management notes ongoing market volatility due to geopolitical events and tariff uncertainties.

• Emphasis on risk management and maintaining a debt-free parent company.

• No new significant risks identified beyond those in the annual report.