VNV Global reported FY 2025 net result of USD -29.22 million and result before tax of USD -26.78 million, compared with USD -85.14 million and USD -85.06 million, respectively, in FY 2024. Result from financial assets at fair value through profit or loss was USD 0.26 million in FY 2025 versus USD -81.48 million in FY 2024, while net financial items were USD -20.03 million (FY 2024: USD 3.34 million) and operating expenses were USD -7.34 million (FY 2024: USD -7.28 million). As of December 31, 2025, VNV Global’s NAV was USD 546.66 million and NAV per share was USD 4.25; cash and cash equivalents were USD 51.25 million and borrowings were USD 46.59 million. Portfolio updates included the full exit from Gett for net proceeds of USD 89.1 million and the sale of Tise to eBay for approximately USD 11 million (both announced in Q3 2025, with Tise closing in early Q4 2025). The company also received a USD 6.2 million distribution from Merro in Q2 2025 and repurchased 2.38 million common shares for USD 5.8 million during FY 2025. Key holding highlights cited in the report included Voi closing FY 2025 with approximately EUR 178 million in net revenue (+34% YoY), adjusted EBITDA of EUR 29 million (+70% YoY) and adjusted EBIT of EUR 3 million, while BlaBlaCar was expected to close FY 2025 with around 150 million passengers and positive adjusted EBITDA.

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