On Tuesday, 19 May 2026, UIE Plc. announced its financial results for the first three months of 2026.
Business Reporting Highlights from Q1 2026:
The net result for the first quarter of 2026 was a loss of USD 26.6, primarily due to negative fair value adjustments of the investments in Schörling and Greenbridge, while UP reported strong financial and operational results.
UP:
UP reported a net profit of MYR 161.8 million, slightly below the record net profit achieved in the first quarter of 2025.
In the first quarter of 2026, production volumes of CPO and PK reached an all-time high for a first quarter, but this was partly offset by 6% lower realised CPO selling prices. The refinery operations had a marginal adverse impact on earnings compared to the corresponding period last year. As a result, UP's net profit declined by 2% in local currency.
However, when measured in USD, the net result increased by 10%, reflecting a stronger average exchange rate of the MYR against the USD in the first quarter of 2026. UIE's share of UP's result therefore increased by 10% to USD 19.7 million, corresponding to an increase of USD 1.9 million compared to the first quarter of 2025.
Schörling:
At the end of the first quarter of 2026, the fair value of UIE's investment in Schörling was USD 211.1 million, representing a decrease of USD 36.3 million, or 15%, since year-end 2025.
The share price development of Schörling's listed investments ranged from a 19% decline to a 7% increase, resulting in a net decrease of 12% in Schörling's net asset value when measured in SEK. In addition, the SEK depreciated by 3% against the USD during the first quarter, contributing to an overall negative fair value adjustment of 15% when measured in USD.
Greenbridge:
At the end of the first quarter of 2026, the fair value of UIE's investment in Greenbridge amounted to USD 58.5 million. This reflects a decrease of USD 7.5 million, or 11%, compared to year-end 2025.
The downward adjustment was primarily due to lower valuation levels for comparable listed companies during the quarter, in line with a broader re-rating occurring across the software sector. However, despite this, the underlying portfolio companies continued to deliver growth during the period, with the valuation movement driven by market based factors rather than changes in fundamental business performance.
For further information, please download the full First Quarter Report 2026 or visit UIE's website.
