Strategic Investments (STRINV) Q3 2025 earnings summary

Executive summary

• Q3 2025 net profit was DKK 34.0m, a 13.2% return, driven by a significant gain in Green Mobility shares.

• 9M 2025 net result was DKK -18.8m, corresponding to a -6.1% return, a marked improvement from DKK -110.1m in 9M 2024.

• Equity as of 30 September 2025 was DKK 292.2m, NAV per share DKK 0.72; dividend of DKK 0.02 per share paid in April.

Financial highlights

• Q3 2025 investment result: DKK 36.6m; operating expenses: DKK 2.5m.

• 9M 2025 investment result: DKK -11.4m; operating expenses: DKK 7.4m.

• NAV per share increased to DKK 0.74 as of 31 October 2025.

• Cash flow from operations in 9M 2025 was DKK 54.3m; cash at period end was DKK 0.6m.

Outlook and guidance

• 2025 expected return remains in the -10% to +10% range, unchanged from previous guidance.

• Management emphasizes a long-term investment strategy and expects continued volatility in returns.