Upgrade Invest Nordic (UPGRAD) Q2 2024 earnings summary

Executive summary

• Total revenue for Jan–Jun 2024 was 0 TSEK, unchanged from the previous year.

• Operating result for Jan–Jun 2024 was -1,166 TSEK, down from -498 TSEK year-over-year.

• Net result for Jan–Jun 2024 was -1,070 TSEK, compared to -498 TSEK last year.

• Earnings per share for Jan–Jun 2024 was -0.52 SEK, compared to -0.24 SEK year-over-year.

• Net asset value as of June 30, 2024, was 6.9 MSEK, or 3.39 SEK per share.

Financial highlights

• External costs for Jan–Jun 2024 were -676 TSEK, up from -288 TSEK year-over-year, mainly due to consulting and listing-related expenses.

• Personnel costs for Jan–Jun 2024 were -105 TSEK, down from -210 TSEK year-over-year.

• Write-downs totaled -385 TSEK, mainly from Nuuka Solutions Oy.

• Financial net for Jan–Jun 2024 was 96 TSEK, primarily from interest income.

• Cash at period end was 2.4 MSEK.

Outlook and guidance

• Focus remains on supporting growth companies toward stock market listings and seeking new structural deals.

• Management aims to present more transactions to shareholders in the coming periods.