UIE (UIE) Q2 2026 earnings summary

Executive summary

• Net profit for H1 2026 was USD 10.5 million, a sharp decline from USD 61.6 million in H1 2025, mainly due to negative fair value adjustments in Schörling and Greenbridge investments.

• UP delivered robust operational results but net profit fell 14% year-over-year due to lower CPO prices and weaker refinery margins.

• Schörling's fair value dropped 13% in USD terms, driven by a 27% decline in Hexagon's share price and SEK depreciation.

• Greenbridge's fair value decreased 5% amid lower market multiples, despite continued growth in portfolio companies.

Financial highlights

• Net asset value per share rose 11% to DKK 602.1 compared to year-end 2025.

• Share price at 30 June 2026 was DKK 352.5, down 9% from year-end 2025.

• Total value of investments in UP, Schörling, and Greenbridge was USD 635.1 million, down USD 62.0 million from year-end 2025.

• Cash and liquid assets increased to USD 99.4 million, up USD 26.4 million from year-end 2025.

• Shareholders’ equity decreased to USD 731.7 million, mainly due to dividend payments and share buy-backs.

Outlook and guidance

• Net profit for 2026 is expected to be lower than 2025, primarily due to negative fair value adjustments in Schörling.

• UP anticipates satisfactory performance but faces cost pressures from energy, labor, and materials.

• Schörling’s outlook is highly sensitive to equity market volatility and currency movements.

• Greenbridge’s future valuations remain uncertain due to the nature of its high-tech portfolio.