eQ (EQV1V) Q3 2026 earnings summary

Executive summary

• 9M net revenue was €44.5m, while operating profit was €18.8m, down 3%; Private Equity performed strongly.

• Strategy 2030 targets strong profitable growth and doubling operating profit versus 2025; Genesta acquisition advances international expansion.

Financial highlights

• Q3 net revenue was €14.9m, up 3% YoY; operating profit was €7.2m, down 6%, and EPS was €0.14 versus €0.15.

• 9M net profit was €14.8m, down 3%; EPS was €0.36 versus €0.37.

• 9M net fee and commission income was €43.3m versus €43.7m; net investment income was €1.2m versus a €0.8m loss. Expenses and depreciation rose to €25.7m from €23.4m.

Outlook and guidance

• 2026 Private Equity fees are expected to increase YoY, while real estate fund management fees are expected to decrease; another fund structure is expected to enter the performance-fee cash-flow phase in 2026.

• Strategy 2030 targets doubling operating profit versus 2025 and a cost/income ratio below 50%.

• Equity and fixed-income fees depend largely on market developments; real estate recovery is expected to depend on the Finnish economy and foreign capital.