The investment company byWiT has released its annual report for 2025. Net asset value amounted to 736 MSEK and the share of profitable portfolio companies increased from 65% to 73%.
- Net asset value 736 MSEK as of 31 December 2025 (–25.0% vs 2024)
- Net asset value per preference share: 780.71 SEK
- 73% of portfolio companies profitable in 2025 (2024: 65%)
- Goal: the investment company to be cash-flow positive in 2027
Key figures in brief
| 2025 | 2024 | Change | |
|---|---|---|---|
| Net asset value, MSEK | 736 | 981 | –25.0% |
| NAV / preference share, SEK | 780.71 | 1,041.01 | –25.0% |
| Operating profit, MSEK | –240 | –93 | –147 MSEK |
| Profit for the year, MSEK | –245 | –91 | –154 MSEK |
| Share of profitable portfolio companies | 73% | 65% | +8 pp |
| Equity ratio | 92% | 98% | –6 pp |
Net asset value and earnings
According to the CEO's statement, the write-down was driven by two external transactions in Proxify and Pensionera in Q4 that were valued under IPEV rules at lower levels than their book value. byWiT writes that the adjustments do not change its view of the portfolio companies' underlying potential.
The portfolio
Pensionera and Proxify together account for around 60% of the portfolio's net asset value. Pensionera (ownership 32%) grew revenue by 17% and assets under management reached 17.2 MDSEK. Proxify (18%) grew 13% (+20% currency-adjusted) with continued profitability. Klingit (30%) grew 23% and E-Farm (39%) increased net sales by 8%. Taken together, the core holdings have grown revenue by 387% since the start in 2021.
Plan going forward
CEO Ulf Söderström describes a three-step plan: a continued focus on profitability to reduce refinancing risk, increased ownership in the core holdings, and lower management costs (almost 30% between 2024 and 2025). The goal is for byWiT to be cash-flow positive in 2027 and for the period to prepare for exits and liquidity events in 2028/2029.
Source: byWiT AB (publ), Annual Report 2025. The full report is available on byWiT's company page on Eqvor.
byWiT is traded on Eqvor Explore byWiT
