VNV Global AB (publ) (VNV) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

All right. Welcome to BNB Global's first quarter 2025 report conference call. On the call today, we have Per Billot, CEO, Dennis Mohamed, Investment Manager, and myself, Björn von Syrsch, the CFO of the company. I will start with a brief intro to the quarter and then I'll follow up with a quick run through of the financial highlights and the main drivers of the NAV movements during the quarter. Following that, we'll do a portfolio rundown led by Per and with the help of Dennis. And with that, I'll hand over to you, Per. Before that, I just want to remind everyone, if you want to ask a question, use the Zoom Q&A function, and we'll address those towards the end. Per, please go ahead. Thank you. I'll flip some slides here. Yeah. So welcome, everyone. Thanks, Bjorn. And it's sort of an uneventful quarter. We're down two and a half percent in dollar terms. Bjorn will go through the details of how sort of that development stacks up. It's sort of, we'll be speaking later, about this over the course of the day and earlier, but it's sort of, you know, obviously the sector we've been, we are in sort of had that big sort of move COVID years. And then on the back of the Ukraine war caps costs going up, sort of big move down, big move up, big move down. And it's sort of from, it's reminiscent from earlier sort of booms and busts, if you will, that, you know, it takes a little, you know, it takes a little time to sort of, to sort of gather, you know, a new momentum to go up again. But it feels like we're, we're in that sort of phase where it's sort of bumbling along at the bottom. I don't, I don't know, famous last words and everything, but that's certainly, I think it's fair to say that that's, that's, that's certainly how, what it feels like right now. So sort of a flattish qua...