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VEF AB (SE:VEFAB)
:VEFAB
Earnings Data
Report Date
Apr 15, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.04Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive operational and valuation story: NAV and per-share NAV grew strongly in 2025, Creditas delivered a transformational funding round and operational progress, Juspay continued fast growth, and management realized meaningful exits and NAV-to-cash conversions. However, material near-term balance-sheet constraints (negative net cash, ~$26.1M bonds outstanding due 2026), a paused buyback program, a persistent ~50% share price discount to NAV, and a portion of the portfolio still mark-to-model temper the outlook. Management’s plan to prioritize deleveraging and then redeploy capital, combined with a healthy pipeline and transaction-backed valuations, supports a cautiously optimistic view.Company Guidance
NAV Growth (Dollar Terms)
Net asset value rose 6.9% in Q4 2025 and 22.9% for the full year (dollar terms), reaching a reported NAV of $434 million.
Per-Share NAV and Buybacks Impact
On a per-share basis NAV increased ~26% year-on-year after factoring in buybacks executed during the year.
Creditas: Major Value Driver and Fundraise
Creditas led the quarter's performance — closed a $108 million Series G round in December that converted Creditas from mark-to-model to a latest-transaction valuation and produced a ~$33 million uplift to VEF's NAV; Creditas achieved ~20% year-on-year loan growth in Q4 and is driving revenue growth, improved efficiency (AI tools) and franchise enhancements (Brazil bank license approved, senior hire Ricardo Forcano). VEF's stake remained roughly ~9% after convertible note conversions and structuring.
Portfolio Valuation Mix and Positive Transaction Coverage
69% of the portfolio was valued at latest transaction prices and 31% at mark-to-model, with over 90% of mark-to-model valuations reflecting multiples further down the P&L (below revenue multiples), implying significant transaction-backed uplift across the portfolio.
Realized Exits and Cash Generation
VEF realized three exits in the prior 12 months (including a notable Juspay secondary/exit) and converted approximately $37 million of appreciating NAV to cash (gross proceeds from Juspay ~ $37 million), contributing to an $81 million positive NAV evolution for the year.
Juspay Performance Outlook
Juspay grew ~40% top-line in calendar 2025 and management/VEF expect similar momentum in 2026 (guidance ~40–50% top-line growth), supporting recurring portfolio value creation.
Improved Portfolio Growth Profile
Management reports the underlying portfolio is growing on a self-sustaining basis at ~25–30% year-on-year, with top names (Creditas, Konfio, Juspay) returning to healthy growth and compounding potential over the medium term.
Balance Sheet Actions Taken
During 2025 VEF paid down roughly half of its bonds, completed share buybacks earlier in the year, and ended Q4 with $15.9 million of cash and liquid assets while outlining a plan to continue strengthening capital allocation and pursue debt reduction (aiming for net-zero debt by year-end in management's plan).
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 |
|---|---|---|---|
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% |
Apr 16, 2025 | kr1.84 | kr1.87 | +1.63% |
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 Apr 15, 2026, Before Open (Confirmed).
What is VEF AB (SE:VEFAB) earnings time?
VEF AB (SE:VEFAB) earnings time is at Apr 15, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
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