Financial performance H1 2026
continued
Equity
Group equity was DKK 50.1m on 30 June 2026 (DKK 205.1m on 31 December
2025). The decrease in equity was largely attributable to the dividend paid out
in April 2026.
Investment mandate
The company’s financial assets will be allocated towards a mix of assets,
specifically:
•
•
•
10-15% in government bonds & bank deposits to manage near-term
liabilities and operating expenses
Events after the balance sheet date
There have been no events that materially affect the assessment of this interim
report after the balance sheet date and up to the release date of this report.
40-45% on a cost-basis allocated towards indices specifically US, European
and Asian market ETFs
40-45% on a cost-basis allocated towards selected equity & bond funds
Accounting policies as well as financial estimates and assumptions
The board & management will continuously revisit the investment mandate as
market conditions and liabilities change.
The interim report has been prepared in accordance with IAS 34, Interim
financial reporting, as adopted by the EU and further Danish disclosure
requirements in respect of interim reports for listed companies.
Outlook 2026
The accounting policies used for the interim report are the same as the
accounting policies used for Annual Report 2025 to which we refer for a full
description. The Group has adopted all new, amended and revised accounting
standards and interpretations as published by the IASB and adopted by the EU
effective for the accounting period beginning on 1 January 2026. We refer to the
notes to the annual report for a description of material estimates and
assumptions.
Investeringsselskabet af 3. November 2025 A/S has slightly modified the
guidance for 2026, mainly due to one-off costs related to the board’s response
in relation to the mandatory public tender offer by the majority shareholder,
Frederik2 ApS.
The company now expects:
•
Operating expenses within the range DKK 3.5m – 4.0m (previously DKK
3.0m – 3.5m), excluding potential costs related to liabilities from pre-
divestment product warranties and other M&A-related liabilities
Compared with the description in Annual Report 2025, there have been no
changes in the accounting estimates and assumptions made by Management in
the preparation of the interim report.
•
These costs are expected to be partially covered by investment income,
subject to equity market volatility
