Case Group (CASE) Q2 2025 earnings summary

Executive summary

• Provisions income rose 29% year-over-year to 50.8 MSEK, with net provisions up 45% to 25.7 MSEK.

• Operating profit increased to 12.4 MSEK from 3.0 MSEK, with a margin of 48% versus 17% last year.

• Assets under management (AUM) grew 26% year-over-year to 20,565 MSEK, marking ten consecutive quarters of AUM growth.

• The group passed 20 billion SEK in managed fund volumes and maintained strong demand across both equity and fixed income funds.

Financial highlights

• Provisions income: 50.8 MSEK (Q2 2025) vs. 39.2 MSEK (Q2 2024), +29% YoY.

• Provisions net: 25.7 MSEK (Q2 2025) vs. 17.8 MSEK (Q2 2024), +45% YoY.

• Operating profit: 12.4 MSEK (Q2 2025) vs. 3.0 MSEK (Q2 2024).

• AUM: 20,565 MSEK (Q2 2025) vs. 16,374 MSEK (Q2 2024), +26% YoY.

• Cash flow from operations: 12.0 MSEK (H1 2025) vs. 2.3 MSEK (H1 2024).

Outlook and guidance

• The company is well positioned for continued organic and acquisition-driven growth, with plans to launch two new Elite funds in Q3 2025.

• Management expects ongoing strong demand for its funds and continued structural growth.