Dividend Sweden (DIV) Q4 2025 earnings summary

Executive summary

• Q4 2025 saw net sales of 5.6 MSEK, up from 4.5 MSEK in Q4 2024, and a positive result after financial items of 0.3 MSEK compared to -7.5 MSEK last year.

• Full-year 2025 net sales reached 14.7 MSEK, up from 11.9 MSEK, but result after financial items was -0.4 MSEK, down from 6.6 MSEK in 2024.

• Two portfolio company share distributions were completed, and a major portfolio company, Medicortex, signed a reverse acquisition agreement.

Financial highlights

• Q4 2025 net sales: 5.6 MSEK (4.5 MSEK Q4 2024); full-year: 14.7 MSEK (11.9 MSEK 2024).

• Q4 result after financial items: 0.3 MSEK (-7.5 MSEK Q4 2024); full-year: -0.4 MSEK (6.6 MSEK 2024).

• Q4 EPS: 0.003 SEK (-0.081 SEK Q4 2024); full-year EPS: -0.004 SEK (0.065 SEK 2024).

• Substansvärde per aktie at year-end: 0.69 SEK (0.73 SEK 2024).

• Equity at year-end: 66.7 MSEK (67.7 MSEK 2024); cash and equivalents: 0.5 MSEK (0.6 MSEK 2024).

Outlook and guidance

• Management targets to exceed the 2025 direct yield of 13% in 2026 through further share distributions.

• Market remains challenging for small caps, but increased interest in listings and transactions is expected to benefit operations.