Tessin Nordic (TESSIN) Q4 2025 earnings summary

Executive summary

• Net revenue for 2025 was 14.8 MSEK, a 40% decrease year-over-year, mainly due to a weaker credit and real estate market.

• Operating loss (EBIT) for the year was -35.9 MSEK, compared to -31.0 MSEK the previous year.

• Net result for the year was -72.8 MSEK, impacted by one-time write-downs of about 30 MSEK.

• Loan volume brokered increased 29% to 301.2 MSEK for the year, with a significant Q4 boost from institutional partners.

• Major cost reductions and strategic changes were implemented, including a stock market list change and share consolidation.

Financial highlights

• Q4 net revenue was 5.4 MSEK, down 18% from the same quarter last year.

• Q4 EBITDA was -7.1 MSEK (vs. -11.5 MSEK), and EBIT was -8.0 MSEK (vs. -13.4 MSEK).

• Full-year EBITDA was -32.0 MSEK (vs. -24.6 MSEK), and EBIT was -35.9 MSEK (vs. -31.0 MSEK).

• Earnings per share for the year was -0.18 SEK (vs. -0.10 SEK).

• Cash flow from operations was -6.5 MSEK for the year; cash and equivalents at year-end were 15.8 MSEK.

Outlook and guidance

• The company is focused on returning to profitable growth, with ongoing cost reductions and new business initiatives.

• A long-term financing plan is being developed and is expected to be presented in the first half of 2026.

• No dividend is proposed for 2025.