Significant events during the quarter
As of the 30th of April 2026, the estimated total net asset value amounted to 35 mSEK, which corresponds to approximately 10 SEK per share. The closing price for the Fram B share as of the same date was SEK 4.5 per share. NAV per share decreased by 1% compared with 31st of March 2026.
In Q1 2026, the average SEK/VND exchange rate decreased by -17% (0.000356 compared to 0.000427 in Q1 2025). In SEK terms, the total revenues increased by +14% y-o-y to 1,603 kSEK, compared to 1,407 kSEK in the same quarter last year. In constant currency terms, the group's y-on-y growth was +37%.
Carmudi reported a PBT of 0.2 mSEK, compared to 0.02 mSEK in the same period last year, driven by increased media revenues. EveHR recorded a PBT of -0.4 mSEK, slightly worse than -0.3 mSEK in the same period last year, mostly due to a recorded recruitment and redundancy cost of 0.14 mSEK in Q1 2026.
During the quarter, the Group reported an accounting loss of -1,000 kSEK, representing a 3% decrease in loss compared to the same period last year. The group result for the quarter was affected negatively by an approximate 600 kSEK of provisioning for restructuring charges in EveHR and for estimated 2026 potential incentives (not yet incurred).
Given current investor sentiment around early stage companies, Fram considers it unlikely to find interested buyers at attractive valuations for its core holdings in the short to medium term. As a result, the primary focus remains on driving the group subsidiaries toward profitability and generating enough profit to cover group overhead.