Nasdaq StockholmIFRS · SEK

Lärkberget

Lärkberget AB is a Swedish listed investment company based in Stockholm. It allocates capital across low-risk instruments, listed securities and funds, bridge loans and guarantees, and direct investments in profitable unlisted companies, with the option to support reverse acquisitions through its public structure.

Net income-12.4m SEK
+72.5 %y/y

Fiscal year 2025 · change from previous year

Development 2024–2025

0.00.10.20.30.4m SEK2024: 0.33 m SEK20242025
RevenueOperating profit (EBIT)

Business

Share of revenue
Financial placements25 %

Investments in interest-bearing securities and other low-risk instruments.

Listed liquid investments25 %

Investments in listed shares, funds, and other liquid assets.

Bridge loans and guarantees15 %

Shorter-term financing support and contingent commitments tied to capital raises.

Direct investments in unlisted companies25 %

Acquisitions of cash-generating private companies with active ownership.

Reverse acquisition platform10 %

Use of the listed shell structure as a platform for potential reverse takeovers.

Customers

Lärkberget does not sell to end consumers; its counterparties are capital markets participants, private company owners, and other investment targets. It invests in listed and unlisted businesses where it believes its capital, network, and ownership involvement can improve outcomes. It may also provide bridge financing or guarantees to companies seeking strategic capital solutions.

Unlisted profitable companies

Businesses with proven models and cash flow that Lärkberget may acquire or invest in for active ownership.

Capital markets counterparties

Listed securities, funds, and other liquid instruments used for treasury-style investment activity.

Capital-raising companies

Businesses seeking bridge loans, guarantees, or support in strategic financing rounds.

Reverse acquisition targets

Private companies that may use Lärkberget's public listing structure as an entry to the market.

Strategy

The company’s strategy is to build a selective investment portfolio that combines stability with targeted upside. It seeks to add value not only through capital, but also through ownership involvement, networks, and strategic support, while keeping flexibility for liquid investments and financing transactions. The listed structure also gives it a platform for potential reverse acquisitions.

Deploy capital into profitable unlisted companiesMedium term

These investments fit the stated mandate for cash-generating businesses with active ownership potential.

Maintain liquidity through low-risk and listed instrumentsShort term

Liquid holdings provide flexibility while the portfolio is being built and reduce dependence on a single asset.

Use the listed structure for strategic transactionsLong term

A public listing can be valuable for reverse acquisitions and for supporting capital market access.

Geography

Lärkberget is headquartered in Stockholm and operates as a Swedish public company. Its investment activity is not tied to a single operating geography, because capital can be deployed into Swedish or international securities and private companies depending on opportunity. Geography mainly matters through listing venue, domicile, and the location of investment targets rather than through physical operations.

Risks

The business is exposed to valuation risk, execution risk, and the uncertainty of building a new investment portfolio from a public-company base. Returns depend on finding suitable targets, timing exits, and managing the credit and market risk of liquid placements and financing commitments. As a listed investment company, it also faces market sentiment risk and the possibility that reverse-acquisition or portfolio plans do not create value as intended.

Sorted by severity
Investment selection and execution riskHigh

The strategy depends on identifying profitable targets and deploying capital at attractive terms.

Exposure: Direct investments in unlisted companies

Market and valuation riskHigh

Listed shares, funds, and other liquid assets can fluctuate materially with market conditions.

Exposure: Financial placements and liquid investments

Credit and counterparty riskMedium

Bridge loans and guarantees can create losses if counterparties underperform or default.

Exposure: Bridge loans and guarantee commitments

Reverse acquisition riskMedium

The public-company platform may not be used successfully or may not create shareholder value.

Exposure: Listed shell / reverse merger platform

Accounting

Judgemental items
Fair value measurement

Listed and unlisted investments may be carried at fair value, making valuation assumptions important.

Impact: Can materially affect reported gains, losses, and equity

Expected credit losses

Bridge loans and other financing exposures require loss estimation.

Impact: Affects provisions and net financial result

Guarantee commitments

Guarantees can create contingent liabilities depending on counterparty performance.

Impact: May require disclosure or recognition of provisions

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Lärkberget (XSTO) – Financial Analysis & Key Metrics – Clarifo