VNV Global AB (publ) (VNV) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay. Welcome, everyone. Our Q4 call, the V&V Global Q4 call. So welcome to this call. I'm Per. I'm joined by Björn and Dennis, my colleagues. We'll walk you through the results, what's going on in the portfolio, touch upon a few of the holdings. And there's... So we'll walk through the presentation and then it'll be Q&A afterwards. So if you want to ask a question, please use the Zoom Q&A sort of function. This is the same as we've done in previous calls, so I think it's self-explanatory. So let's kick things off. And first numbers, I pass the microphone to my colleague Björn. Thank you, Per. If you can move to the next slide, we'll start with that. So as for year-end 2025, Uniglobal's NAV stood at $547 million, or roughly $425 per share, down 5.9% in USD during the quarter. In CEX terms, NAV is $5 billion, or roughly $39.1 per share, down 8% over the quarter. For the 12-month period, NAV in USD terms is down 4.2% and down close to 20% in SEK terms. If you jump to the next slide pair, we go into sort of the simplified balance sheet here. And so we have a total investment portfolio that amounts to $589 million, consisting of investments of $537 million and cash and cash equivalents of $51 million. Borrowings at year-end 25 total 46.6 million dollars following the partial redemption of the outstanding bond earlier in the quarter. We continue to trade at material discount NAV as per share close yesterday January 28th at 19.9. We're trading at sort of implied 49% discount NAV during this quarter. we've continued to repurchase shares that we started in in q3 and as per year end company holds close to 2.4 million common shares representing approximately 1.8 percent of the outstanding common shares and the fair value chain shooting worker is as per usual primarily driven b...