UIE (UIE) Q1 2026 earnings summary

Executive summary

• Reported a net loss of USD 26.6 million in Q1 2026, down USD 55.7 million year-over-year, mainly due to negative fair value adjustments in Schörling and Greenbridge investments.

• UP delivered strong operational results, with record production volumes but slightly lower net profit due to lower selling prices and weaker refinery contribution.

• Schörling and Greenbridge investments saw significant fair value declines, reflecting broader market volatility and sector re-rating.

Financial highlights

• Net profit/(loss) for Q1 2026: USD (26.6) million, compared to USD 29.1 million in Q1 2025.

• Net asset value per share as of 31 March 2026: DKK 608.3, up 12% from year-end 2025.

• Share price as of 31 March 2026: DKK 382.5, down 1% from year-end 2025.

• Market value of assets: USD 664.5 million, down USD 32.6 million from year-end 2025.

• Shareholders’ equity decreased to USD 726.7 million from USD 766.6 million at year-end 2025.

Outlook and guidance

• Projected lower net profit for 2026 compared to 2025, mainly due to negative fair value adjustments in Schörling and Greenbridge.

• UP expects satisfactory performance but faces cost pressures from energy, fertilizers, and labor.

• Schörling’s fair value adjustment as of mid-May 2026 is negative USD 15 million year-to-date.

• Board anticipates continued resilience but highlights ongoing global economic and geopolitical uncertainties.