Stockholm, January 29, 2016
PRESS RELEASE - NAXS Nordic Access Buyout Fund AB (publ)
This announcement is not an offer of securities for sale in the United States nor in any other country, and securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. Nor does it constitute or form part of, and may not be used for the purposes of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities by any person in any jurisdiction, nor shall it or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment to do so, in which (i) such offer or invitation is not authorised; or (ii) in which the person making such offer or invitation is not qualified to do so; or (iii) to any person to whom it is unlawful to make such offer or invitation.
Year-end Report 2015
January-December 2015
- Net profit for the year amounted to MSEK 64.2 (128.0).
- Earnings per share amounted to SEK 4.32 (8.60).
- Net asset value amounted to MSEK 785 (SEK 52.78 per share) at December 31, 2015, compared to MSEK 751 (SEK 50.53 per share) at year-end 2014.
- Net cash amounted to MSEK 351 (SEK 23.60 per share) at December 31, 2015, compared to MSEK 167 (SEK 11.26 per share) at year-end 2014.
- A dividend of SEK 2.30 per share was paid for the fiscal year 2014.
Fourth quarter 2015
- Net profit/loss for the quarter amounted to MSEK -25.0 (23.6).
- Earnings per share amounted to SEK -1.68 (1.59).
Distribution of profits
- The Board of Directors proposes to the Annual General Meeting a dividend of SEK 2.50 per share for the fiscal year 2015. In addition, the Board of Directors proposes to the Annual General Meeting to vote on a continued share repurchase mandate.
Comments by the CEO
2015 was a good year for NAXS. Despite negative currency effects, we saw the net asset value per share increase by 9% (including the dividend paid) during the period.
Exit activity was strong in the portfolio during the year, with 9 full exits and 4 partial exits through initial public offerings.
NAXS’ share price also developed positively, with an 8.2% increase during 2015 and the Company’s share traded in-line with net asset value at year-end.
As a result of the high exit activity in NAXS’ portfolio, the Company has a particularly strong balance sheet and cash position, which certainly is an asset in the current volatile markets. It is also in light of the prevailing investment climate that the board of NAXS has revised the Company’s investment policy. You can find the revised policy on our website.
Lennart Svantesson
Financial summary
|
2015 1/1–12/31 |
2014 1/1–12/31 |
2015 10/1-12/31 |
2014 10/1–12/31 |
|
| Net profit/loss for the period, KSEK | 64 178 | 127 990 | -25 005 | 23 622 |
|
2015 12/31 |
2014 12/31 |
|
| Private equity fund investments, KSEK | 434 246 | 587 105 |
| Private equity fund investments in % of equity | 55 | 78 |
| Remaining commitments, KSEK | 104 748 | 137 019 |
| Total exposure to private equity fund investments, KSEK | 538 994 | 724 124 |
| Net cash, KSEK | 350 970 | 167 447 |
| Private equity fund investments per share, SEK | 29.20 | 39.48 |
| Net cash per share, SEK | 23.60 | 11.26 |
| Net asset value per share, SEK | 52.78 | 50.53 |
| Share price, SEK | 54.00 | 49.90 |
Contact information
Lennart Svantesson, CEO
Telephone: +46 73 311 00 11
This press release and further information is available on the Company’s website: www.naxs.se
NAXS Nordic Access Buyout Fund AB discloses the information provided herein pursuant to the Swedish Securities Markets Act. This press release was submitted for publication at 08:30 CET on January 29, 2016.
NAXS Nordic Access Buyout Fund AB (publ)
Corp. Reg. No. 556712-2972
Grev Turegatan 10
114 46 Stockholm, Sweden
Tel: +46 8 611 33 25, E-mail: info@naxs.se
