Episurf Medical (EPIS) Q1 2026 earnings summary

Executive summary

• Initiated transformation into a cash flow-oriented property company, completing property acquisitions valued at SEK 270m in Q1 2026.

• Signed and closed additional property deals post-quarter, with signed but not yet closed acquisitions totaling SEK 2.2bn and further letters of intent for SEK 1.8bn.

• Targeting SEK 10bn in property transactions for 2026, with over SEK 3bn signed in the first five months.

• Strategic review underway for the medical technology business, with dual-track options being considered.

Financial highlights

• Group net sales rose to SEK 8.8m in Q1 2026 from SEK 2.5m year-over-year, a 252% increase.

• Operating loss was SEK -24.9m compared to a profit of SEK 1.5m in Q1 2025, mainly due to transaction and medical business costs.

• Loss for the period was SEK -26.9m (Q1 2025: SEK 1.5m); loss per share SEK -0.01.

• Cash and cash equivalents at period end were SEK 12.2m (Q1 2025: SEK 5.7m); equity ratio improved to 76.8% (Q1 2025: 32.7%).

• 450,494,390 warrants exercised, raising SEK 13.5m before costs.

Outlook and guidance

• Plans to accelerate property acquisitions, aiming for SEK 10bn in underlying property value by year-end 2026.

• Market conditions, asset availability, and credit environment will influence transaction pace.

• Medtech segment to focus on cost streamlining and margin improvement.