MTI Investment (MTI) H1 2025 earnings summary

Executive summary

• Revenue surged 759% year-over-year to SEK 5.58 million, driven by NORAD project income and business development services.

• Net loss narrowed significantly to SEK -1.96 million from SEK -8.50 million year-over-year, reflecting improved cost management and higher revenues.

• Portfolio Net Asset Value per share increased 7% to SEK 2.31, with a 52% premium over the share price at period end.

• Strategic focus on Africa, with most of the team now based in Kenya and Tanzania, and a hands-on approach to portfolio management.

Financial highlights

• EBITDA improved to SEK -1.93 million from SEK -6.26 million year-over-year.

• Cash and cash equivalents at period end were SEK 2.83 million, down from SEK 5.77 million year-over-year.

• Total equity at period end was SEK 6.67 million, compared to SEK 15.31 million a year earlier.

• Net cash flow for the period was SEK -4.68 million, reflecting investments and operational outflows.

Outlook and guidance

• Management expects further value creation in the current portfolio through strategic support and fundraising.

• Focus remains on growing high-quality SMEs in Africa and unlocking growth in the Growth Portfolio.