Preservia (PHOL PREF) H1 2026 earnings summary

Executive summary

• First half of 2026 marked by positive operational progress and ongoing efforts to simplify group structure, with concrete proposals expected in autumn 2026.

• New bank loans, higher external valuations, and dividends received from Malmö and Trelleborg property projects.

• Portfolio expanded with investments in SpaceX and Prometheus; flexible convertible facility of up to 10 MSEK established.

• Net asset value at June 30, 2026, was approximately 53 MSEK, compared to a combined market value of 29 MSEK for the three listed share classes.

Financial highlights

• Net sales for the period were 0.0 MSEK (0.0 MSEK year-over-year).

• EBITDA was -2.7 MSEK (-3.4 MSEK year-over-year).

• Net income after tax was -0.5 MSEK (-3.1 MSEK year-over-year).

• Cash flow was -0.2 MSEK (-10.9 MSEK year-over-year); cash flow from operations was 5.4 MSEK (-1.2 MSEK year-over-year).

• Earnings per share were -0.33 SEK (-2.08 SEK year-over-year).

Outlook and guidance

• The board intends to present concrete proposals for a simplified group structure in autumn 2026.

• Current liquidity and expected inflows are deemed sufficient to cover operational costs and commitments for the next 12 months.