Fram Skandinavien

As of the 31st of January 2026, the estimated total net asset value amounted to 37 mSEK, which corresponds to approximately 10 SEK per share. The closing price for the Fram B share as of the same date was SEK 4.9 per share. NAV per share was stable compared with 31st of December 2025.

In Q4 2025, Carmudi reported a PBT of +0.3 mSEK, as a result of increased media revenues. EveHR recorded a PBT of -0.3 mSEK, representing a 9% decrease compared to the same period last year. The Group loss before tax from continuing operations was -864 kSEK for the quarter and -4,533 kSEK for the year 2025. 

During the quarter, including the discontinued Dragonlend operations, the Group reported an accounting profit of 2,211 kSEK as Fram repurchased and wrote off a debt of approximately 3.1 mSEK principal value, at only ca. 30 kSEK purchase price - resulting in a reduction of the debt balance recorded as other income within discontinued operations. While it’s positive to reduce the debtload on the balance sheet, this constitutes a one-off accounting-effect and does not indicate underlying operating profit generation.

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 enough profit generation to cover group overhead.