I Love Lund (LOVE) Q1 2026 earnings summary

Executive summary

• Net sales reached 300 TSEK for Q1 2026, with a negative operating result of -837 TSEK, slightly worse than the previous year.

• Portfolio activity focused on follow-on investments in existing holdings, notably LifeFinder and Uman Sense, with no new investments.

• Partial divestments were made in listed holdings, mainly Camurus, to rebalance towards unlisted assets and prepare for new investments.

• SAGA Diagnostics, a minor holding, was acquired by Foundation Medicine (Roche), expected to yield a significant cash gain for shareholders.

Financial highlights

• Operating result was -837 TSEK, compared to -758 TSEK in Q1 2025.

• Financial items, including write-downs, amounted to 397 TSEK, a significant improvement from -3,483 TSEK last year.

• Result after financial items was -440 TSEK, compared to -4,234 TSEK in Q1 2025.

• Earnings per share were -1 SEK, a notable improvement from -9.8 SEK in the prior year.

• Equity per share at period end was 81.9 SEK, down from 83.2 SEK last year.

• Net asset value per share at period end was 103.2 SEK.

Outlook and guidance

• Management expresses increased optimism for 2026, anticipating a shift from risk aversion to risk appetite in the market.

• Larger capital rounds are expected in portfolio companies LifeFinder and Uman Sense later in the year.

• Proceeds from the SAGA Diagnostics exit are planned for reinvestment in new innovative companies.