EL7.AI
Stocks•1 November 2026•
4 min read

Västra Hamnen revenue jumps 34% to SEK 3.735 million, returns to profit

Key Facts

1Västra Hamnen's operating revenue was SEK 3.735 million in the third quarter, compared with SEK 2.784 million a year earlier.
2Västra Hamnen posted operating profit of SEK 580,000 in the third quarter, after a loss of SEK 846,000 a year earlier.
3lePERMISLIBRE's operating loss narrowed to €354,000 in the first half, from €1.053 million a year earlier.
4Revenue from lePERMISLIBRE candidates using CPF funding fell 21% to €1.914 million in the first half.

Västra Hamnen Corporate Finance reported that operating revenue rose to SEK 3.735 million in the third quarter of 2026, from SEK 2.784 million in the year-earlier period, an increase of about 34%. Profitability also improved, with the company posting operating profit of SEK 580,000 after an operating loss of SEK 846,000 in the third quarter of 2025. The operating margin was 16% for the period. Meanwhile, lePERMISLIBRE said its operating loss in the first half of 2026 narrowed to €354,000, from €1.053 million a year earlier. The results show two different trajectories: a return to quarterly profit for the Swedish financial advisory firm, and an improved result at the French company despite continued pressure on revenue.

Over the first nine months of 2026, Västra Hamnen's operating revenue rose to SEK 11.836 million from SEK 9.772 million in the same period a year earlier. The company posted operating profit of SEK 852,000, compared with a loss of SEK 2.659 million in the first nine months of 2025. The company said the cost-cutting program launched the previous year reached its full effect in the third quarter, and that total costs fell by about SEK 3 million on an annual basis. The combination of revenue growth and a lower cost base points to an improvement reflected in both the quarter's results and the nine-month total. The company also presented a mixed picture of Swedish market performance during the quarter.

Västra Hamnen's chief executive said the Nasdaq First North All-share index, which includes small companies, fell 1.5% in the third quarter, while the OMXS30 index rose 2.5%. In describing the company's activity, the report said it assisted 4C Strategies and Image Systems with fully guaranteed rights issues. It also provided assistance when subscription warrants expired at aXichem and Chosa Oncology. The report does not attribute the revenue increase to any single factor, but includes this work among the activities the company carried out during the quarter. The financial improvement therefore came during a period when the small-cap index diverged from the broader index, alongside the full effect of cost cuts.

At lePERMISLIBRE, gross margin rose to 39.5% in the first half of 2026, from 38.8% a year earlier, an increase of 0.7 percentage points. The company attributed the improvement to a pricing policy adjusted by region. On costs, it said the restructuring carried out in 2025 reduced personnel costs by 51% and professional fees by 52% compared with the year-earlier period. Lower spending on these items helped narrow the operating loss, despite a decline in revenue in the first half. The indicators show that improved operating profitability came alongside a higher margin and lower expenses, while sales volumes remained under pressure.

The French company identified a direct regulatory constraint on one source of demand: since 20 February 2026, CPF funding has covered employees' driving licences only if a third party contributes to the financing. Revenue from candidates using this funding fell 21% year on year to €1.914 million in the first half. Revenue from candidates who self-funded their training was €1.853 million, down 19% from the first half of 2025. Revenue therefore declined in both of the customer segments cited, as sales pressure coincided with cost reductions and an improvement in gross margin. The company listed 27 January 2027 as the date for publishing its 2026 full-year revenue.

The two companies' results came during a European earnings season marked by growth expectations, although estimates varied across sectors. On 20 October, LSEG analysts raised their forecast for third-quarter earnings growth at STOXX 600 companies to 20.7% year on year, compared with growth of 24% in the second quarter. LSEG I/B/E/S estimates projected earnings growth of about 33% for technology and 11% for industrials in the third quarter. In an estimate reported by Reuters on 22 October, the index's expected growth was 21.9%, up from 20.7% the previous week, based on results from 47 companies and estimates for the rest. Excluding energy, average expected growth fell to 8.4%, while energy companies' earnings were expected to grow 134.1% year on year.

David Grumman, global equity strategist at Citi, said upgrades to forecasts ahead of earnings season were "unusually strong and unusually broad." The report said the breadth of those upgrades could lead investors to focus on fourth-quarter expectations and beyond. For the two companies, the French company's next announced date remains 27 January 2027, when it will publish its 2026 full-year revenue. The European forecasts put companies' performance in a broader context, with a clear divergence between energy growth and the rest of the index. The French company's second-half results and subsequent disclosures from the Swedish company remain in focus amid this divergence.