Stockholm, July 15, 2013
PRESS RELEASE
First half-year 2013
- Net profit/loss for the period amounted to MSEK 20,3 (32,8).
- Earnings per share amounted to SEK 1.36 (2.19).
- Net asset value amounted to MSEK 621 (SEK 41,71 per share) at June 30, 2013, compared to MSEK 609 (SEK 40.83 per share) at year-end 2012.
- Net cash amounted to MSEK 83 (SEK 5.60 per share) at June 30, 2013, compared to MSEK 123 (SEK 8.22 per share) at year-end 2012.
Second quarter 2013
- Net profit/loss for the period amounted to MSEK 25.0 (23,5).
- Earnings per share amounted to SEK 1.68 (1.57).
- NAXS paid a dividend amounting to SEK 0.50 per share for the fiscal year 2012.
Comments by the CEO
It is with satisfaction that we saw NAXS’ net asset value grow by 4% during the quarter (including the dividend paid for FY 2012) and by 7% over a 12-month period. This positive development during the quarter is a result of an increase in valuation of the private equity fund investments, liquidity events in the portfolio and a weakening of the Swedish krona.
Following the 2 recent acquisitions and 2 exits, NAXS’ underlying funds hold a total of 84 portfolio companies, the investments in private equity funds have reached 86% of the equity, and the 10 exits that have occurred since NAXS’ inception have generated an average annual gross return (IRR) of 20%.
It is also worth mentioning that the credit markets are functioning well in the Nordic region, which is reflected in the 6 recapitalizations that took place in NAXS’ portfolio during the quarter.
Lennart Svantesson
NAXS operates as a private equity fund-of-funds with investments in buyout funds with a Nordic focus. The objective is to make the Nordic private equity market accessible for a broader circle of investors, while offering liquidity through NAXS' listed shares
Financial summary
|
2013 1/1–6/30 |
2012 1/1–6/30 |
2013 4/1–6/30 |
2012 4/1–6/30 |
|
| Net profit/loss for the period, KSEK |
20 281 |
32 774 |
24 998 |
23 540 |
|
2013 6/30 |
2012 12/31 |
|
| Private equity fund investments, KSEK | 536 956 | 487 173 |
| Private equity fund investments in % of equity | 86 | 80 |
| Remaining commitments, KSEK | 177 803 | 212 544 |
| Total exposure to private equity fund investments, KSEK | 714 759 | 699 717 |
| Net cash, KSEK | 83 457 | 122 624 |
| Private equity fund investments per share, SEK | 36,05 | 32,64 |
| Net cash per share, SEK | 5,60 | 8,22 |
| Net asset value per share, SEK | 41,71 | 40,83 |
| Share price, SEK | 38,00 | 29,50 |
NAXS Nordic Access Buyout Fund AB discloses the information provided herein pursuant to the Swedish Securities Markets Act.
The report was submitted for publication at 12.45 CET on July 15, 2013.
Contact information
Lennart Svantesson, CEO
Telephone: +46 73 311 00 11
Please see the attached file for the full report.
This press release and further information is available on the Company’s website: www.naxs.se
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
