Traction (TRAC) Q1 2026 earnings summary

Executive summary

• Net result after tax for Q1 2026 was -103 MSEK, down from 59 MSEK in Q1 2025, mainly due to weak performance in listed holdings, especially active holdings, and mediocre financial placements.

• Earnings per share were -6.99 SEK, compared to 3.98 SEK a year earlier.

• Net asset value (NAV) per share decreased to 284 SEK from 291 SEK, a decline of 2%.

• Board proposes a dividend of 8.30 SEK per share, down from 9.00 SEK.

Financial highlights

• Result after tax: -103 MSEK (59 MSEK in Q1 2025).

• Value changes: -134 MSEK (22 MSEK), received dividends: 25 MSEK (25 MSEK), financial income: 10 MSEK (15 MSEK).

• NAV per share: 284 SEK (291 SEK), share price at period end: 246 SEK (268 SEK), discount to NAV: 13%.

• Liquid assets and short-term interest-bearing placements: 1,102 MSEK (1,170 MSEK).

Outlook and guidance

• After the quarter, value of listed holdings increased by 211 MSEK as of May 6, 2026, reversing earlier declines.

• The public offer for Nilörngruppen, if completed, will realize approximately 670 MSEK in value for the holding.