eQ (EQV1V) Q1 2026 earnings summary

Executive summary

• Net revenue for Q1 2026 was €14.2M, up 1% year-over-year; operating profit was €5.6M, down 4% year-over-year; EPS remained flat at €0.11.

• Asset Management segment saw a 4% drop in net revenue and an 11% decrease in operating profit, mainly due to lower real estate management fees.

• Corporate Finance net revenue Q1 2026: €0.2M (up 130%); operating profit -€0.6M (loss reduced by 29%).

• Over €205M raised for private equity and venture capital funds; significant secondary market sale of €49M; performance fees recognized.

• Updated 2030 strategy targets doubling operating profit and international expansion, with new management team appointments.

Financial highlights

• Net revenue Q1 2026: €14.2M (1% increase year-over-year); operating profit: €5.6M (4% decrease year-over-year).

• EPS Q1 2026: €0.11 (unchanged year-over-year).

• Cost/income ratio: 60.6% (up from 58.3%).

• Liquid assets: €16.2M at period end; no interest-bearing liabilities.

• Dividend of €0.52 per share approved, paid in two instalments.

Outlook and guidance

• Real estate management fees expected to decrease in 2026; private equity fees anticipated to rise.

• Several private equity funds expected to enter performance fee phase in 2026.

• Real estate transaction market in Finland is more active, but yield requirements have not fallen.

• Equity and fixed income fee trends will depend on market developments.