VEF AB (SE:VEFAB)
:VEFAB
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Earnings Data
Report Date
Jul 22, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
0.2Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call conveyed constructive momentum: NAV and cash realizations improved, high‑quality exits were delivered at premiums, Creditas and other large holdings show accelerating growth and clear AI‑driven efficiency gains, and the balance sheet has materially improved toward neutrality. Offsetting factors are mark‑to‑model markdowns from a comps sell‑off, concentration risk in Brazil/Creditas, remaining debt with a bond due year‑end, and macro/geopolitical uncertainties. On balance, the positive operational progress, successful realizations and clearer path to deleveraging outweigh the near‑term valuation volatility and risks.Company Guidance
NAV and Currency Movement
Net asset value (NAV) of $408.6 million for Q1 FY2026, up 5.8% quarter‑on‑quarter in U.S. dollar terms; NAV per share in SEK down 2.8% quarter‑on‑quarter due to SEK weakness.
Juspay Realization and Strong Returns
Completed participation in a $50 million Series D follow‑on for Juspay; VEF sold $14.6 million in secondary for cash, retains a 6.4% stake. Latest activity contributed a $10.8 million uplift to marks; the latest partial sale produced a 6.6x MOIC and a 38% IRR (USD) on that tranche; overall realized + unrealized value for VEF in Juspay implies a 4.5x MOIC since investment (invested capital $21.1M → value $94.9M).
Exit Program Delivering Cash and Premiums
Since November 2024 VEF executed 4 exits totaling $52 million; exits were completed at an aggregate 8% premium to pre‑transaction NAV marks, a 1.4x aggregate MOIC and an 11% gross IRR over a ~3.5‑year holding period. Including retained stakes (e.g., Juspay), the portfolio equates to ~2.5x MOIC and ~24% gross IRR (including unrealized).
Balance Sheet Strengthening / Deleveraging Progress
Proceeds from exits increased corporate cash by about $10 million this quarter. Company reports approximately cash neutral position with roughly $25 million cash versus ~$25 million debt outstanding, reflecting meaningful progress on deleveraging and focus on paying down or rolling a bond due year‑end.
Portfolio Growth Outlook and Quality
Management expects the portfolio to grow ~25%–30% year‑on‑year from a profitable base, driven by late‑stage top holdings (Creditas, Juspay, Konfio). Portfolio composition: ~70% latest‑transaction marks and ~30% mark‑to‑model.
Creditas: Accelerating Loan Growth and AI‑driven Efficiency
Creditas loan portfolio growth accelerated to ~20% year‑on‑year in Q4 and management is guiding toward mid‑20s growth (25%+ aspiration). Operational metrics: origination growth ~2x the percentage growth in OpEx; customer acquisition cost (CAC) down from ~20% of originations to below 10%; headcount reduced from >4,000 to <2,000, driving operating leverage and improved margins.
AI Adoption Across Portfolio Driving Early Cost Efficiencies
Management highlighted portfolio‑wide AI adoption moving from theory to reality (examples: Creditas, Juspay, Konfio). Early impacts include lower CAC, improved underwriting/collateral processes and potential for expanding operating jaws (revenue growth outpacing cost growth).
Geographic Positioning and Currency Tailwind
VEF remains concentrated in Latin America (~80% exposure) with Brazil >50% (Creditas a key asset). Management cited a favorable macro backdrop for Brazil: Bovespa outperformance and BRL appreciation ~10% year‑to‑date, which provides an indirect tailwind to portfolio value.
SE:VEFAB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SE:VEFAB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 15, 2026 | kr2.13 | kr1.97 | -7.29% |
Jan 21, 2026 | kr2.12 | kr1.91 | -9.91% |
Oct 22, 2025 | kr2.26 | kr2.29 | +1.15% |
Jul 16, 2025 | kr1.98 | kr2.04 | +2.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does VEF AB (SE:VEFAB) report earnings?
VEF AB (SE:VEFAB) is schdueled to report earning on Jul 22, 2026, Before Open (Confirmed).
What is VEF AB (SE:VEFAB) earnings time?
VEF AB (SE:VEFAB) earnings time is at Jul 22, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of VEF AB stock?
The P/E ratio of VEF AB is N/A.
What is SE:VEFAB EPS forecast?
Currently, no data Available