WebRock Ventures (WRV) Q2 2026 earnings summary

Executive summary

• Completed a structural transaction with Lara Finance Group (LFG), including a SEK 109m combined rights and non-cash issue; Webrock became the largest owner in LFG after contributing its Olik holding valued at SEK 79m.

• LFG is now a focused fintech group with two main businesses: Lara (healthcare financing) and Olik (insurance infrastructure).

• Lara reported its first positive EBITDA and operating result, driven by portfolio growth and higher interest income.

• Olik maintained profitability, though with lower margins due to one-off costs and investments in a new insurance product.

Financial highlights

• Net asset value (NAV) at June 30, 2026: SEK 269.1m, down 2.5% from Q1 2026, up 1.8% year-over-year.

• NAV per share: SEK 12.7 (Q1 2026: SEK 13.1; Q2 2025: SEK 12.5).

• Portfolio value: SEK 263.4m; cash: SEK 2.2m; other net assets: SEK 3.5m.

• Operating result for Q2 2026: SEK -7.0m (Q2 2025: SEK 5.1m); change in value of financial assets: SEK -6.1m (Q2 2025: SEK 9.5m).

• Investments during the period: SEK 79.2m (Q2 2025: SEK 0m).

• Net result for the period: SEK -7.0m (Q2 2025: SEK 5.1m); EPS: SEK -0.33 (Q2 2025: SEK 0.24).

Outlook and guidance

• LFG is positioned for continued growth with a strengthened financial position and scalable business model.

• Lara’s underlying profitability is improving, with ongoing expansion and a growing clinic network.

• Olik is preparing to launch Surety Insurance in September 2026, targeting a fast-growing segment in Brazil.