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.
Interim Report January-March 2016
First quarter 2016
Net profit for the first quarter amounted to MSEK 25.2 (23.8).
Earnings per share amounted to SEK 1.69 (1.60).
Net asset value amounted to MSEK 811 (SEK 54.52 per share) at March 31, 2016, compared to MSEK 785 (SEK 52.78 per share) at year-end 2015.
Net cash amounted to MSEK 362 (SEK 24.34 per share) at March 31, 2016, compared to MSEK 351 (SEK 23.60 per share) at year-end 2015.
Comments by the CEO
NAXS made good progress during the first three months of the year, with the net asset value per share rising by 3.3%.
The financial markets continued to be volatile during the first quarter, and we expect such volatility to prevail. And while private equity activity has slowed, competition for quality assets remains strong. In the short to medium term, NAXS intends to put additional focus on co-investments, secondary and other alternative investments. This is also in-line with the recently revised investment policy for the Company.
Lennart Svantesson
Financial summary
|
2016 1/1–03/31 |
2015 1/1–03/31 |
|
| Net profit/loss for the period, KSEK | 25 193 | 23 777 |
|
2016 03/31 |
2015 12/31 |
|
| Private equity fund investments, KSEK | 449 500 | 434 246 |
| Private equity fund investments in % of equity | 55 | 55 |
| Remaining commitments, KSEK | 87 524 | 104 748 |
| Total exposure to private equity fund investments, KSEK | 537 024 | 538 994 |
| Net cash, KSEK | 361 924 | 350 970 |
| Private equity fund investments per share, SEK | 30.23 | 29.20 |
| Net cash per share, SEK | 24.34 | 23.60 |
| Net asset value per share, SEK | 54.52 | 52.78 |
| Share price, SEK | 49.80 | 54.00 |
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 April 22, 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
