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NAXS
NAXS (NAXS) investor relations material
NAXS Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary29 Jan, 2026
Executive summary
Focuses on investments in Nordic private equity funds, with selective direct and co-investments in alternative assets.
As of Q4 2025, holds 12 active private equity funds managed by 7 managers, with exposure to 65 portfolio companies.
Net profit for 2025 was MSEK -25.9, a significant improvement from MSEK -66.6 in 2024, with Q4 net profit at MSEK -6.6.
Extraordinary dividend of SEK 16/share approved in September 2025; board proposes SEK 2.00/share dividend for 2026 AGM.
Strategic shift post-November 2025 EGM to prioritize value maximization of core assets, selective shorter-term transactions, and divestment of non-core holdings.
Financial highlights
NAV at Q4 2025: SEK 556 million, or SEK 50.44 per share, down from SEK 808 million (SEK 72.98 per share) in 2024.
NAV/share decreased by 1.1% during the quarter and by 3.1% over 12 months, including dividends paid.
Net cash position of SEK 66 million, representing 12% of equity.
Share price at year-end: SEK 37.50, reflecting a 22% discount to NAV as of 31.12.2025.
Dividend payout in 2025: SEK 20.25 per share (including extraordinary dividend).
Outlook and guidance
No new long-term private equity fund commitments planned; focus on supporting existing portfolio companies and optimizing balance sheet.
Dividend policy targets 50-75% of profit after tax (excluding unrealized income/costs).
Renewed strategic focus on maximizing value of core assets and prioritizing short-term transactions.
Future cost base post advisory agreement termination
Strategy for underperforming PE fund investments
Share repurchase strategy to enhance value
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Latest summaries
- TimeTickerHeadlineOpen
- GAIN
Record new investments and NAV growth highlight a strong quarter with robust distributions. - GAINRecord realized gains and income drove higher NAV and strong distributions in FY25.
- GAINNet investment income reached $9.1M, NAV per share was $12.99, and distributions stayed strong.
- EPAC
Directors, auditor, and executive pay were approved with strong shareholder participation. - ARCC
FY 2025 delivered $2.01 core EPS, $1.86/share net income, and a $29.5B portfolio. - GAINNAV per share rose to $13.53 on strong portfolio growth and stable adjusted NII.
- MATW
Net income $43.6M, sales $284.8M, debt reduced $174M, FY2026 EBITDA guidance $180M. - 443060
Operating profit rose 28.9% in 2025, with strong core business and digital segment growth. - GM
Disciplined transformation, resilient cash flow, and software growth drive a strong outlook. - BTBT
Transitioned to a strategic asset model centered on ETH staking and AI infrastructure growth.
Next NAXS earnings date
Q1 202623 Apr, 2026
NAXS
Next NAXS earnings date
Q1 202623 Apr, 2026
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Frequently asked questions
NAXS AB is a Sweden-based investment company that focuses on private equity investments primarily in Northern Europe. The company primarily invests in private equity funds, but it also engages in direct investments and co-investments alongside private equity or other alternative assets funds. NAXS targets various sectors including healthcare, consumer goods and services, industry, information technology, telecommunications, building and construction, media, and financial and business services. NAXS AB is headquartered in Stockholm, Sweden, and its shares are listed on the NASDAQ Stockholm.
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