Doxa (DOXA) Q1 2026 earnings summary

Executive summary

• Focus shifted from restructuring in 2025 to execution in 2026, with a streamlined portfolio and strengthened organization.

• New transaction manager recruited to support strategy targeting cash flow-generating properties with development potential.

• Strategic milestone reached as HSB joined the Västra Sjöstaden project, validating the partnership model.

• Legal disputes related to Serneke Sverige AB’s bankruptcy addressed, with a favorable settlement post-quarter adding SEK 7 million liquidity.

Financial highlights

• Revenue for Q1 2026 was SEK 18.4 million, up from SEK 2.5 million year-over-year.

• Operating net improved to SEK 4.9 million from SEK -4.2 million year-over-year.

• Net result for the period was SEK -20.7 million, compared to SEK -39.8 million last year.

• Earnings per share were SEK -0.02 (SEK -0.03 year-over-year).

• Equity at period end was SEK 1,950.7 million, with a solidity of 48.5%.

Outlook and guidance

• Positioned for value-creating acquisitions with a focused portfolio and robust organization.

• Strategy aims to reduce NAV discount through disciplined capital allocation and consistent execution.

• Market conditions expected to remain competitive, requiring price discipline for acquisitions.