Newcap (NEWCAP) Q3 2025 earnings summary

Executive summary

• Focus during Q3 2025 was on exploring new business opportunities, particularly acquisitions and potential collaboration with new shareholders.

• The board continues to assess options to expand the capital base and maximize shareholder value, considering acquisitions as preferable to liquidation.

Outlook and guidance

• The board maintains its adjusted full-year guidance for EBIT at DKK -2.5 to -3.0 million, with major uncertainties tied to costs of exploring future options and the final outcome of the tax authority's VAT assessment.

Significant events and developments

• The unresolved issue with a former supplier has been fully settled with no impact on results.

• The VAT assessment for 2021-2024 is now expected to be resolved in Q1 2026, delayed from the previously anticipated Q4 2025 due to processing time.