Newcap (NEWCAP) Q2 2026 earnings summary

Executive summary

• Group revenue for H1 2026 reached DKK 6.3 million, up DKK 1.2 million year-over-year, driven by higher asset management income and the consolidation of Observatum from May 2026.

• Operating loss (EBIT) for H1 2026 was DKK 0.9 million, impacted by one-off costs related to acquisitions and maintaining the Nasdaq listing.

• Loss after tax for H1 2026 was DKK 0.4 million, with seasonality affecting revenue recognition.

• Acquisition of Observatum Compliance ApS completed in May 2026, expanding compliance and risk management services.

• Capital increase of DKK 1.4 million completed in June 2026, partly subscribed by senior management.

Financial highlights

• Revenue for H1 2026: DKK 6.3 million (H1 2025: DKK 5.1 million).

• Operating profit (EBIT): DKK -0.9 million (H1 2025: DKK 2.3 million).

• Net loss: DKK 0.4 million (H1 2025: profit of DKK 1.8 million).

• Cash flows from operating activities: DKK 1.0 million; investing activities: DKK -10.0 million.

• Equity at 30 June 2026: DKK 26.6 million.

Outlook and guidance

• Revenue guidance for 2026 raised to DKK 17.5–19.5 million (previously DKK 14–16 million); profit before tax guidance unchanged at DKK 2.5–5.0 million.

• Principal uncertainties relate to economic and geopolitical developments affecting performance-based fees.

• Exceptional, non-recurring expenses expected to impact 2026 results.