WebRock Ventures (WRV) Q4 2025 earnings summary

Executive summary

• Portfolio focused on two core holdings, Lara Finance Group and Olik, with significant operational and financial improvements in 2025.

• Organization and cost base halved, extending financial endurance and supporting long-term value creation.

• Substansvärde (NAV) increased 6.1% year-over-year to 273.7 Mkr, with per-share NAV at 13.0 SEK.

• No significant events occurred after the reporting period.

Financial highlights

• Operating profit for 2025 was 15.6 Mkr, a turnaround from -388.1 Mkr in 2024.

• Net result for the period was 15.7 Mkr, compared to -387.2 Mkr last year.

• Earnings per share improved to 0.74 SEK from -18.68 SEK year-over-year.

• Portfolio value at year-end was 265.7 Mkr, with cash of 5.7 Mkr and other net assets of 2.3 Mkr.

• Investments during the year totaled 0 Mkr, down from 30.5 Mkr in 2024.

Outlook and guidance

• Entering 2026 with clear priorities, strong cost discipline, and positive momentum in core holdings.

• Continued focus on narrowing the gap between market value and NAV through operational delivery and communication.