Springvest (SPRING) H1 2025 earnings summary

Executive summary

• Achieved profitability in H1 2025 despite a challenging global economic environment and market uncertainty, with a focus on growing the unlisted technology company portfolio.

• Organized €28.2M in public equity funding for Finnish growth companies and led a €45M financing round for ReOrbit, marking a significant step in internationalization.

• Portfolio value increased by €1.5M to €25.1M, with 40 portfolio companies at period end.

• Shareholder base grew by 13% to 1,408, supporting liquidity and diversification.

Financial highlights

• Revenue for H1 2025 was €3.0M, down 16% year-over-year from €3.6M.

• Operating profit was €0.6M (down 46% YoY), with an operating margin of 21% (32%).

• Net profit was €0.5M, compared to €0.9M in H1 2024.

• No positive portfolio exits; net proceeds from exits were €0.0M (vs. €0.3M YoY).

• Dividend of €0.25/share paid in March 2025.

Outlook and guidance

• Full-year 2025 revenue expected to approach the record 2024 level, with operating margin near the long-term target of 20%.

• Continued focus on expanding the unlisted equity portfolio and supporting portfolio company exits.