Nordic Financials (NOFIN) Q1 2025 earnings summary

Executive summary

• Completed rebranding to Nordic Financials ASA and updated investment focus, signaling a new strategic direction.

• Hired a new investment director to enhance investment competence and deal flow.

• Successfully executed an oversubscribed rights issue, strengthening capital and eliminating debt.

• Euronext Oslo Børs removed "Recovery Box" status, reflecting improved financial health.

Financial highlights

• Q1 2025 revenues were zero as focus shifted to restructuring and capital raising.

• EBITDA for Q1 2025 was -912 tNOK; operating loss was -2,079 tNOK, compared to -1,923 tNOK in Q1 2024.

• Net loss from continuing operations was -2,079 tNOK, improved from -6,896 tNOK in Q1 2024.

• Cash and short-term deposits at quarter-end were 160 tNOK, down from 656 tNOK at year-end 2024.

• Basic and diluted EPS from continuing operations was -0.09 for Q1 2025, compared to -0.29 in Q1 2024.

Outlook and guidance

• Actively pursuing new investment opportunities and conducting a capital increase to support growth.

• Optimistic about deal flow and access to capital, with a new rights issue underwritten for at least NOK 20 million.