Tessin Nordic (TESSIN) Q1 2026 earnings summary

Executive summary

• Net revenue for Q1 2026 was 1.0 MSEK, a 77% decrease year-over-year, reflecting a strategic reduction in low-margin business and a weak real estate market.

• EBITDA was -7.5 MSEK and EBIT was -8.5 MSEK, both slightly worse than the prior year.

• Net loss for the period was -11.9 MSEK, a marginal improvement from -12.2 MSEK in Q1 2025.

• Loan volume mediated dropped 91% to 5.2 MSEK, as the company shifted focus to higher-margin opportunities.

• Strategic focus shifted to developing the Nova Kreditfond, targeting institutional capital and improved margins.

Financial highlights

• Total revenue was 1.2 MSEK for Q1 2026.

• EBITDA: -7.5 MSEK (Q1 2025: -7.3 MSEK); EBIT: -8.5 MSEK (Q1 2025: -8.4 MSEK).

• Net result: -11.9 MSEK (Q1 2025: -12.2 MSEK).

• Earnings per share: -2.48 SEK (Q1 2025: -3.00 SEK, adjusted for reverse split).

• Cash flow from operations: -8.8 MSEK; cash and equivalents at period end: 27.5 MSEK.

Outlook and guidance

• Management is executing a business model shift to focus on scalable, higher-margin products.

• Nova Kreditfond is expected to attract institutional investors and improve profitability.

• Market conditions remain weak, with uncertainty on timing of recovery in real estate financing demand.