Alpcot (ALPCOT) investor relations material

Strategic direction and business development

• Focus on building a scalable digital platform combining technology with personal banking relationships, aiming for market leadership in financial advisory services in Sweden.

• Expansion through organic growth and acquisitions, notably the integration of GADD, which has significantly increased assets under management (AUM) and strengthened the product offering.

• Franchise and external advisor models are being scaled, with nine new distributors added since the last Capital Market Day, including six affiliated agents and three new franchises.

• Ongoing investment in AI to enhance administration, portfolio management, and customer support, positioning for future efficiency and innovation.

• Continued focus on minimizing conflicts of interest and maintaining transparency in all client interactions.

Financial performance and guidance

• Q1 2026 EBITDA reached 2.4 MSEK, up 41% year-over-year, driven by high deposit income and GADD's contribution.

• AUM in portfolio management more than doubled in one year, with organic growth at 33% and significant volume from GADD.

• Net revenues increased by 50% over the past 12 months, with capital management income now representing over 50% of total revenues.

• Updated financial targets for 2027: net operating income of 110–120 MSEK and an EBITDA margin of at least 30%.

• The share price has more than doubled since 2025, with analyst value intervals raised following strong quarterly results.

Market outlook and portfolio performance

• Expectation of stable interest rates and improved growth towards year-end, with positive stock market prospects in Sweden and the US (5–10% returns or higher).

• Broader participation in market upturns anticipated, with small caps expected to recover.

• Emerging markets projected as winners, while Europe may lag.

• Alpcot's discretionary portfolios have outperformed benchmarks, with Global Selection returning nearly 74% since inception and Nordic dividend strategies also showing strong results.

• Ongoing focus on cost efficiency, product mix optimization, and scaling operations with limited incremental costs.