The first quarter unfolded against a backdrop of persistent geopolitical and trade-policy uncertainty, which continued to weigh on private equity activity broadly. Transaction volumes remained below historical norms in the Nordic region, with the exit market in particular characterized by elongated timelines.
Including the dividend paid, the NAV per share declined by 0,7% during the first quarter. The decrease was driven primarily by the underperformance of one underlying manager.
Notwithstanding the challenging environment, the portfolio continued to generate liquidity. During the quarter, NAXS divested its co-investment in Reledo, received the redemption of its shares in JAB Co-investment IX, and sold half of its holding in Jacktel after the company listed on Euronext Growth Oslo.
At the 2026 AGM held in March, shareholders approved a dividend of SEK 2.00 per share for FY 2025, a reflection of NAXS's commitment to returning value to shareholders.
While near-term visibility remains limited, we are focused on managing the portfolio with discipline and capitalizing on opportunities as market conditions evolve.
Amaury de Poret
Amaury de Poret, CEO
+46 73 511 17 35
adp@naxs.se
Gösta Lundgren, CFO
+46 70 710 47 88
gosta.lundgren@naxs.se
This information is information that NAXS AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 16.30 CET on April 23, 2026
This press release and further information are available at www.naxs.se
NAXS AB (publ)
Reg.no. 556712-2972
Nybrogatan 6
114 34 Stockholm
Phone: 0766 40 00 40
E-mail: info@naxs.se
Established in 2007, NAXS is an investment company listed on Nasdaq Stockholm focused on Nordic private equity. The Company aims to maximize value from its existing portfolio while selectively deploying capital to enhance shareholder returns. More information is available on www.naxs.se.