Alpcot (ALPCOT) Q1 2026 earnings summary

Executive summary

• Provisions income rose to 37.5 MSEK (27.3) year-over-year, with operating profit before depreciation and value changes at 2.4 MSEK (1.8).

• Net profit for the period was 0.5 MSEK (13.1), and EPS was 0.00 SEK (0.08).

• Acquisition of GADD completed in January, contributing to increased volumes and financial strength.

• Portfolio management capital reached 6,532 MSEK (3,222), and fund capital 3,200 MSEK (1,205).

• Organic growth in depot customers by 14% to 12,996 (11,399).

Financial highlights

• Operating income excluding value adjustments: 23.7 MSEK (15.8), now including GADD.

• Operating expenses: 26.8 MSEK (18.1), with personnel costs at 14.0 MSEK (9.4).

• Cash flow for the period: 51.7 MSEK (3.3), with cash at period end 70.4 MSEK (14.6).

• Equity: 119.0 MSEK (88.7), equity per share 0.60 SEK (0.55), solidity 49% (71%).

• Segment: Depot services 13.1 MSEK, insurance mediation 4.3 MSEK, fund/capital management 20.1 MSEK.

Outlook and guidance

• Financial targets for 2027 raised to operating income of 110–120 MSEK (excl. performance fees) and EBITDA margin of at least 30%.

• Focus remains on profitable growth, quality, scalability, and customer value.

• Continued expansion in depot volumes and franchise network expected.