Navigo Invest (NAVIGO) Q1 2026 earnings summary

Executive summary

• Group operating profit more than doubled year-over-year in Q1 2026, with net sales up 7% to 162.1 MSEK and net profit after tax at 16.0 MSEK, up from 6.6 MSEK.

• Four out of five portfolio companies improved operating profit, with positive trends across most holdings on a rolling 12-month basis.

• Substantial improvement in total comprehensive income, driven by portfolio performance and positive revaluation effects.

Financial highlights

• Net sales: 162.1 MSEK (+7% YoY); EBITDA: 27.9 MSEK (+59.6% YoY); Operating profit: 21.8 MSEK (>2x YoY).

• Net profit after tax: 16.0 MSEK (6.6 MSEK Q1 2025); EPS: 0.17 SEK (0.06 SEK Q1 2025).

• Equity ratio: 76.3% (76.0% Q1 2025); Return on equity: 1.3% (0.5% Q1 2025).

• Cash flow from operations: -1.2 MSEK (13.9 MSEK Q1 2025); liquidity at period end: 56.0 MSEK (24.9 MSEK Q1 2025).

• Substansvärde (NAV) per share: 10.09 SEK (+0.7% from Q4 2025).

Outlook and guidance

• Management sees strong momentum for the remainder of 2026, with continued focus on improving cash flow and capital structure.

• Strategic goal remains 15% annual NAV growth per share and gradual reduction of the NAV discount.