Nordic Financials (NOFIN) Q2 2026 earnings summary

Executive summary

• Maintained a debt-free, capital-light, and agile investment model, focusing on a concentrated portfolio of high-quality positions.

• Divested bond holdings in Snowball Software Group and made a strategic investment in Heder Bank ASA.

• Gold Road International plc, a core holding, was listed on Euronext Growth Oslo after the reporting period.

• Reduced share capital by lowering the par value per share, simplifying the capital structure.

Financial highlights

• Net loss for H1 2026 was NOK -4.41 million, compared to NOK -5.63 million in H1 2025.

• Total equity decreased to NOK 24.4 million as of 30 June 2026 from NOK 28.8 million at year-end 2025.

• Cash and short-term deposits stood at NOK 8.9 million at the end of H1 2026.

• Basic and diluted EPS for H1 2026 was NOK -0.22, compared to NOK -0.01 in H1 2025.

Outlook and guidance

• Actively pursuing several new investment opportunities, with optimism regarding deal flow and access to capital.

• Expectation that a larger capital base will support greater liquidity and enable participation in more attractive opportunities.