Interim report January

Interim period January – June 2015

  · Net asset value per share was SEK 67.60, compared to SEK 46.09 at year-end
2014, which corresponds to an increase of 46.7 per cent.
  · Bure’s net asset value was SEK 4,716M (2,874).
  · Total return on the Bure share was 44.2 per cent, compared to 10.0 per cent
for the SIX Return Index.
  · Consolidated profit after tax was SEK 1,572M (426). Earnings per share
amounted to SEK 22.21 (5.62).

Second quarter of 2015

  · Bure sold its holding in PartnerTech to Scanfil Oyj, which made a public
tender offer for the company. The proceeds from the sale amounted to SEK 189.1M
and the gain was SEK 52.4M.
  · Net asset value per share was SEK 67.60, compared to SEK 62.35 at the
beginning of the quarter, which is equal to an increase of 8.4 per cent.
  · Total return on the Bure share was 4.4 per cent, compared to the SIX Return
Index which fell by 5.0 per cent during the quarter.
  · According to the decision of the Annual General Meeting, an ordinary
dividend of SEK 1.00 per share was paid.
  · Bure cancelled 5,247,800 repurchased shares in accordance with the decision
of the 2015 Annual General Meeting.
  · Bure repurchased 1,074,000 shares during the quarter. Bure’s holding
thereafter amounts to a total of 1,074,000 treasury shares, which represents 1.5
per cent of the total number of shares outstanding.

Subsequent events

  · Net asset value per share at 17 August 2015 was SEK 63.83, which corresponds
to an increase of 44.2 per cent since year-end 2014.
  · Bure repurchased 427,000 shares after the end of the second quarter and
thereafter holds a total of 1,501,000 treasury shares, which represents 2.1 per
cent of the total number of shares outstanding.


The strong start to the year continued through the second quarter. Bure’s net
asset value per share rose by 8.4 per cent in spite of a declining stock market.
The SIX Return Index fell by 5.0 per cent. Since yearend 2014, net asset value
per share has risen by a full 46.7 per cent.
At the end of June we completed the sale of our holding in PartnerTech to
Scanfil. Scanfil is a listed Finnish company that is active in the same
business. Consolidation in the contract manufacturing industry has been underway
for many years and I believe that this is an industrially sound move for
PartnerTech. The new Scanfil group will be the clearly leading Nordic player,
with global competitiveness. The value of Bure’s share in the sale amounted to
SEK 189M.
During the quarter we established a new unit in Bure that we have named Bure
Growth. The intention is to create a home for our investments in small
development companies. Bure Growth will be presented as an autonomous portfolio
company within Bure, which
will strengthen the focus and clarify our communication regarding these
companies. Initially, the holdings in Vigmed and BioLamina will be included in
Bure Growth, which currently has a total value of SEK 50M.
The result for the first half of the year is one of Bure’s best ever with an
increase in value in the portfolio of over SEK 1,400M. Through the sale of
PartnerTech and dividends received, with a deduction for share buybacks and
dividends paid, our investable assets have grown. The search for new investments
is a priority, but as the current market pricing is relatively high, we will
continue to proceed with a certain caution. At the end of the quarter Bure had
some SEK 600M in investable assets.
Henrik Blomquist
CEO

For additional information contact
Henrik Blomquist, CEO +46 8 614 00 20
Max Jonson, CFO +46 8 614 00 20
The information in this interim report is subject to the disclosure requirements
of Bure Equity AB under the Swedish Securities Market Act and/or the Swedish
Financial Instruments Trading Act. This information was publicly communicated on
18 August 2015, 8.:30. a.m. CET.
Interim report January – June 2015

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