Bifogade filer
Vef 4q25 Eng
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Finans |
| Industri | Investeringar |
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Key events during the quarter
- 4Q25 NAV increased 7% QoQ, while FY25 NAV was up 23% YoY, ending 2025 at USD 433.8 mln. The positive quarterly NAV movement was mainly driven by the successful fundraise in our core portfolio holding Creditas (+18% QoQ).
- Creditas had a very busy and positive quarter. Creditas closed its Series G equity funding round, raising USD 108 mln at a USD 3.3 bln valuation. They also closed the acquisition of Andbank Brazil and strengthened their leadership team with the appointment of Ricardo Forcano as CTO/COO
- Creditas 3Q25 results showed robust and continued improving trends as loans grew 17% YoY alongside delivering record quarterly revenues of BRL 592 mln.
Net asset value
- In USD, NAV equals 433.8 mln (YE24: 353.0), +7% QoQ and +23% FY25. NAV per share is USD 0.43 (YE24: 0.34), +7% QoQ and +26% FY25.
- In SEK, NAV equals 3,992 mln (YE24: 3,882), +5% QoQ and +3% FY25. NAV per share is SEK 3.93 (YE24: 3.73), +5% QoQ and +5% FY25.
- Cash position, including liquidity investments, was USD 15.9 mln (YE24: 12.8) at the end of 2025.
Financial result
- Net result for 4Q25 was USD 28.0 mln (4Q24: -122.2).
- Net result for FY25 was USD 85.4 mln (FY24: -89.9).
VEF CEO, Dave Nangle, comments:
"4Q25 was an important quarter on many fronts and concludes a very satisfying year for all at VEF. Our portfolio is humming and is compounding nicely once more, driving up NAV per share. Strategically, we are transitioning our focus from clear short-term wins and are readying ourselves to put capital to work again, investing in our next generation of winners. Getting the balance right is key to creating a long-term attractive investment company.”
| Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 | |
| Net asset value (USD mln) | 442.2 | 353.0 | 433.8 |
| Net asset value (SEK mln) | 4,441 | 3,882 | 3,992 |
| Net asset value per share (USD) | 0.42 | 0.34 | 0.43 |
| Net asset value per share (SEK) | 4.26 | 3.73 | 3.93 |
| VEF AB (publ) share price (SEK) | 1.84 | 2.21 | 2.22 |
Events after the end of the period
No significant events after the end of the period.
Visit VEF’s IR page for our financial reports and other information: vef.vc/investors
The results webcast will be held at 14:00 CET (08:00 a.m. ET) Wednesday January 21, 2026, where Dave Nangle, Managing Director of VEF, will comment on the report and the latest developments.
To join the live conference and be able to ask questions, please use the below link for registration:
https://register-conf.media-server.com/register/BI08cb7cdf65044b2eb9b6f281c4b00386
To view the live interactive presentation in listen-only mode, please log on to:
https://edge.media-server.com/mmc/p/38ndtxqs