Case Group (CASE) Q1 2026 earnings summary

Executive summary

• Provisions income decreased by 1% year-over-year to 49.6 MSEK, and net provisions fell by 5% to 24.5 MSEK.

• Operating profit dropped to 7.7 MSEK from 12.4 MSEK, with a margin of 31% versus 48% last year.

• Assets under management (AUM) declined 7% year-over-year to 18,152 MSEK, mainly due to technical outflows from a volatility-managed product.

• New CEO appointed for subsidiary and two new funds launched in partnership with ICA Banken.

• Received two Lipper Fund Awards for risk-adjusted returns.

Financial highlights

• Provisions income: 49.6 MSEK (-1% YoY); net provisions: 24.5 MSEK (-5% YoY).

• Operating profit: 7.7 MSEK (down from 12.4 MSEK YoY); operating margin: 31% (was 48%).

• AUM: 18,152 MSEK (-7% YoY); net outflows mainly due to technical product effects.

• Earnings per share: 0.18 SEK (down from 0.30 SEK YoY).

• Cash flow from operations: 7.5 MSEK; period cash flow: -4.1 MSEK.

Outlook and guidance

• Signs of recovery in the small-cap segment observed in Q2 2026, with capital outflows slowing.

• Management expects normalization of market conditions and sees potential for stronger segment performance.

• Continued focus on internal fund management and strategic partnerships, especially with ICA Banken.