Investors House (INVEST) Q1 2025 earnings summary

Executive summary

• Q1 2025 result was €0.4M, the second-best first quarter in company history, quadrupling the 2020–24 Q1 average; Q1 2024 was exceptionally strong due to a major investment effect.

• Result was in line with expectations, driven by recurring cash flow from ongoing operations; no investments or sales occurred during the quarter.

• The AGM approved a dividend increase for the tenth consecutive year, making Investors House one of Finland's six dividend aristocrats.

• Equity ratio improved to 49.7% (from 43.6%) due to strong results and extra loan repayments.

Financial highlights

• Revenue: €2.72M (up 66% year-over-year); Net operating income: €1.11M (up 556% year-over-year).

• Net profit: €0.36M (down 55% year-over-year, as Q1 2024 included a one-off investment gain).

• EPS: €0.03 (Q1 2024: €0.13); Equity per share: €6.05 (Q1 2024: €5.40).

• Cash flow from operations: €0.38M (Q1 2024: €0.01M).

• No investments or divestments during the quarter.

Outlook and guidance

• 2025 result expected to be significantly weaker than the exceptional 2024 result.

• Strategic target for ROE is 10% p.a. for 2024–27; 2024 ROE was 21.1%.