Investment Companies Daily INVEB SS June NAV and interim results, HVPE passes continuation vote, VEIL discount management clarification

Research evidence excerpt

Investment Companies Daily INVEB SS June NAV and interim results, HVPE passes continuation vote, VEIL discount management clarification

ergy Storage 5.7

and SEB. The main negative contributor was a holding in Saab. NextEnergy Solar -15 -10 -5 0 5 108.3 15

• Private portfolio (Patricia Industries) earnings growth: Within Patricia Source: LSEG Datastream

Industries LTM sales and EBITDA growth to 30/6/26 was +5.1% and +8.4% Largest movers over the last month (%)

respectively, both in SEK terms. The LTM sales and EBITDA to 30/6/26 were SDCL Energy Efficiency Income-16.1

SEK 70.7bn and SEK 18.1bn respectively implying an LTM EBITDA margin BlackRockPartners GroupWorldPrivateMiningEquityTrust-15.5-15.3

of 25.6%. The largest private portfolio company, healthcare Gabelli Merger Plus+ Trust -15.1

Gore Street Energy Storage Fund -13.5

focused Mölnlycke, reported organic sales growth of 2% for Q2 2026 vs Q2 Schroder European Real Estate… 11.0

2025 with growth across most areas of business at a similar LSD level. Within GreshamInternationalHouse EnergyBiotechnologyStorage 15.015.8

woundcare (60% of Mölnlycke revenue) sales grew in APAC and China but Biotech Growth3i 16.321.9

were flat in the US market where Mölnlycke is seeing softening in demand and -20 -15 -10 -5 0 5 10 15 20 25

destocking. Within antiseptics (3% of Mölnlycke revenue), Mölnlycke saw Source: LSEG Datastream

sales grow 10% in constant currency. Nova Biomedical, the second largest

Patricia Industries portfolio company by value, saw Q2 2026 organic sales J.P. Morgan Securities plc is acting as financial adviser and

growth of 10% in constant currency driven by strong biopharmaceutical sales corporateconnectionbrokerwith theto IntertekrecommendedGroup plccash(“Intertek”)offer to acquirein the