White Pebbles (WHITE) Q3 2025 earnings summary

Executive summary

• Operations focused on building a diversified investment portfolio and preparing for public listing during 2025.

• Listed on Spotlight Stock Market on October 17, opening to a broader shareholder base and increased transparency.

• Accumulated result for 2025 remains positive despite a weak Q3 due to listing costs and market headwinds.

Financial highlights

• Q3 2025: Operating income 0 TSEK, operating expenses 290 TSEK, operating result -290 TSEK.

• Result after financial items for Q3: -139 TSEK; period result: -104 TSEK.

• Nine months 2025: Operating result -303 TSEK, result after financial items 292 TSEK, period result 254 TSEK.

• Cash flow for Q3: -8,374 TSEK; for nine months: 447 TSEK.

Outlook and guidance

• Ongoing work to build a diversified portfolio of value-creating assets; updates to be provided as investments progress.

• Well-capitalized and positioned for future investments following listing and capital raising.