XCSE:STRAP ESEF Annual Report
Strategic Partners A/S (XCSE:STRAP)
ESEF Annual Report
2026-09-02
For: 2026-06-30
View Original
Added on
September 18, 2026
August 4th 2026
CVR No.: 32266355
Interim Report First Half 2026
Strategic Partners A/S (the “Company”), today announces its Interim Report First Half 2026 for
the period January 1 – June 30, 2026.
Financial highlights First Half 2026
The total comprehensive profit for the first half year 2026 was a net profit of DKK 1.0 million
compared to a total comprehensive net loss of DKK 1.2 million for the same period in 2025.
Operating expenses for the six months ended June 30, 2026 totaled DKK 1.0 million compared
to DKK 1.4 million for the same period in 2025.
In May, Strategic Partners A/S purchased a strategic position of 8,823 shares as Co-owners in
the Danish company Gyldendal A/S corresponding to an investment of DKK 3 million. The
investment was made after following the company’s development for an extended period.
During the period, the Company also worked on an improvement to its facility on Østerbrogade
in Copenhagen, which will significantly enhance the facility’s rental potential.
In July, the Company announced the biggest potential strategic investment so far as the
Company signed a conditional purchase agreement for the acquisition of three retail properties
located outside Aarhus for a total purchase price of DKK 16.2 million, corresponding to a net
yield of 7.25%.
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The acquisition will be financed by a cash payment of DKK 7.0 million as well as the assumption
of an existing mortgage loan of DKK 9.2 million. The purchase is conditional upon approval at
an extraordinary general meeting convened on August 5th, 2026, at which the board of directors
will propose both the acquisition itself and the financing of the cash payment through a capital
raise.
The company is still in process with various investments in order to continue to execute the
strategy to increase the company's investments in strategic partnerships with companies with
significant potential, as well as in other equity interests and real estate.
The result from property investments is realized at a net gain of DKK 0.1 million compared to
DKK 0.1 million for the same period in 2025.
The result from our strategic co-ownership in listed and unlisted companies is realized at a net
gain of DKK 1.9 million compared to DKK 0.0 million for the same period in 2025.
Diluted net asset value per share is DKK 465 on June 30th, 2026.
Management’s review and Business update
In continuation of the strategy, it is still the Company's wish to continue investing and adding
competences in new partnerships in order to create added value for the Company's
shareholders, as well as to attract additional capital to the company via capital raisings or the
purchase of companies/assets via the issue of new shares in order to gain a greater critical
mass.
Risk and uncertainties
For information on risks and uncertainties relating to Orphazyme’s business please refer to our
Statutory Annual Report 2025. Additional risks and uncertainties, including risks that are not
known to the Company at present or that its management currently deems immaterial or non-
specific to the Company, may also arise or become material or specific to the Company in the
future, which could, if such risks were to materialize, have a material and adverse effect on the
Company’s business, financial condition, and/or results of operations.
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Subsequent Events
Management is not aware of any other events subsequent to 30 June 2026 other than described
above related to the acquisition of new properties in Aarhus which could be expected to have a
significant impact on the group’s financial position.
Outlook
The positive result of the first half of the year and the acquisition of the three retail properties
will not change the company’s announced expectations for 2026, most recently communicated
in company announcement 2/2026, in which the company expects an overall negative result
before tax of DKK -2 million to DKK 0 million.
Forward-looking statements, in particular relating to future activities, operating income and
expenses as well as other key financials, are subject to risks and uncertainties. Various factors,
many of which lie outside of the Company’s control, may cause the realized results to differ
materially from the expectations presented in this earnings release.
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Condensed Key Figures
As of and for
the six-
As of and for
the six-months
ended Jun 30,
2025
As of and for the
year
DKK (000)
months ended
Jun 30, 2026
ended Dec
31, 2025
Statement of profit or loss
Net rental income
100
(1,027)
(927)
1,946
1,019
24
105
(1,553)
(1,391)
204
34
(2,480)
(2,446)
1,587
General and administrative expenses
Operating profit / (loss)
Net financial items
Total comprehensive income (loss)
Profit / (loss) per share, basic (DKK)
Profit / (loss) per share, diluted (DKK)
Statement of financial position
Investment property
(1,187)
(28)
(859)
(21)
24
(28)
(21)
3,573
71
3,573
3,222
12,053
2
3,573
394
Cash
Securities
16,457
5
15,531
41
Other current assets
Total assets
20,107
6,257
19,405
702
18,850
6,257
18,061
789
19,539
6,257
18,390
1,149
Share capital
Total equity
Current liabilities
Cash flow statement
Net cash from operating activities
Net cash from investing activities
Net cash from financing activities
Other
(1,339)
1,016
-
(4,628)
3,964
-
(2,136)
(1,356)
-
Share price (DKK)
590
41,712
24.6
1,000
41,712
41.7
698
41,712
29.1
Total outstanding shares
Market capitalization (DKK million)
Equity ratio
97%
96%
94%
Equity per share (DKK)
465
433
441
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Statement of Profit or Loss and Other Comprehensive Income
Twelve
months
ended
Six months
ended
Six months
ended
Jun 30, 2026 Jun 30, 2025 Dec 31, 2025
DKK (000)
DKK (000)
DKK (000)
Net rental income
(927 )
(1,496 )
(1,391 )
General and administrative expenses
Operating result
(2,480 )
(2,446 )
Financial items, net
Total comprehensive income (loss)
(1,187 )
(859 )
Profit / (loss) per share, basic
Profit / (loss) per share, diluted
(28 )
(28 )
(21 )
(21 )
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Statement of Financial position
Jun 30, 2026 Jun 30, 2025 Dec 31, 2025
DKK (000)
DKK (000)
DKK (000)
ASSETS
Fixed assets
Investment property
Total fixed assets
Current assets
Prepayments and other receivables
Securities and partnerships
Cash
Total current assets
TOTAL ASSETS
EQUITY & LIABILITIES
Equity
Share capital
Retained earnings
Total equity
Current liabilities
Trade payable and accruals
Total current liabilities
TOTAL EQUITY AND LIABILITIES
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Statement of Changes in Shareholders’ Equity
Share capital
Accumulated
deficit
Total
DKK (000)
Balance as of Dec 31, 2024
Net loss for the period
(1,187 )
(1,187 )
Balance as of June 30, 2025
Balance as of Dec 31, 2025
Net profit for the period
Balance as of June 30, 2026
Page 7 of 11
Cash Flow Statement
Six months ended
Jun 30, 2026
DKK (000)
Six months ended
Jun 30, 2025
DKK (000)
Operating activities
Operating profit / (loss)
(927 )
(1,345)
Change in receivables
Change in accruals and other liabilities
Interest received / (paid), net
Cash flow from operating activities
(448 )
(3,521 )
(1,339 )
(4,628 )
Investing activities
Purchase of securities
(3,148 )
(23 )
Sale of securities
Investment property
Cash flow from investment activities
Changes in cash and cash equivalents
(323 )
(664 )
Cash balance at beginning of period
Cash balance at end of period
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Notes to the Interim Financial Statement
NOTE 1 – CORPORATE INFORMATION
Strategic Partners A/S is headquartered in Copenhagen, Denmark and is publicly traded on
Nasdaq Copenhagen.
There were no material related party transactions during the first half of 2026 other than
remuneration to the Executive Management and the Board of Directors.
Basis of preparation
The interim condensed financial statements for the six months ended June 30, 2026 have been
prepared in accordance with IAS 34 Interim Financial Reporting as issued by the International
Accounting Standards Board (IASB) and as adopted by the EU, and additional Danish disclosure
requirements for interim reports of companies listed on the Nasdaq Copenhagen.
The interim condensed financial statements do not include all the information and disclosures
required in annual financial statements and should be read in conjunction with the Company’s
latest annual financial statements as of December 31, 2025. These interim condensed financial
statements have been prepared in accordance with the going concern assumption.
Updates to the Group's accounting policies
The accounting policies used in the preparation of the interim condensed financial statements
are consistent with those used in the preparation of Strategic Partners A/S’s annual financial
statements for the year ended December 31, 2025.
The interim financial report has not been reviewed or audited by the Company’s independent
auditors.
Significant accounting estimates and judgements
The significant accounting estimates and judgements disclosed in note 1.4 of the financial
statements for the year ended December 31, 2025 are still applicable.
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NOTE 2 –INVESTMENT IN PARTNERSHIPS AND INVESTMENT PROPERTY
In May, Strategic Partners A/S purchased 8,823 shares in the Danish company Gyldendal A/S
corresponding to an investment of DKK 3 million. The investment was made after following the
company’s development for an extended period.
During the period, the Company worked on improvements to its commercial apartment on
Østerbrogade in Copenhagen, which will significantly enhance the apartment’s rental potential.
The Company is currently investigating different strategic investments.
NOTE 3 – DEFERRED TAX ASSETS
The Company’s tax losses can be carried forward infinitely subject to the general rules on
limited deductibility due to ownership changes.
For the period ended June 30, 2026, the Company has unrecognized net tax loss carry-forwards
in the Danish entity in the amount of DKK 2,212 million which is equal to a deferred tax asset of
DKK 487 million as of June 30, 2026.
Page 10 of 11
Copenhagen, August 4th, 2026.
Board of Directors
Executive Management
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