Company announcement no 5 2010/11
Interim Report for the period 1 February 2010 - 30 April 2010
Profit for Q1 2010/2011 came to DKK 19.5m. Equity stood at DKK 797m,
corresponding to a book value per share of DKK 16,503.
The Board of Directors of Scandinavian Private Equity A/S (SPEAS) has today
considered and approved the Company's Interim Report for the period 1 February
2010 - 30 April 2010. The Interim Report has not been audited and contains the
following highlights:
§ SPEAS's investments through private equity funds amount to DKK 461m,
and the uncalled proportion of the Company's investment commitments to private
equity funds totals approximately DKK 424m, which the funds may invest in new
companies over the next few years.
§ In addition, SPEAS has invested DKK 59m in listed shares in private
equity companies and deposited DKK 274m with Danish banks.
§ The Company recorded a profit of DKK 19.5m for the period. Investments
through private equity funds have been revalued by DKK 11.1m, and the portfolio
of listed shares in private equity companies generated a total positive return
of DKK 5.7m. Net financials came to DKK 4.3m.
§ Equity stood at DKK 797.3m at 30 April 2010, equal to a book value per
share of DKK 16,503 against a quoted price of DKK 10,320 at 16 June 2010.
§ In Q1 of the financial year, SPEAS bought back another 248 own shares
totalling DKK 2.6m as the share price was attractive compared with the Company's
other investment alternatives.
§ Since the end of the financial period, SPEAS's portfolio of listed
shares in private equity companies has generated a negative return of DKK 2.7m.
§ SPEAS maintains its forecast of a profit in the range of DKK 15m-35m
for the current financial year ending on 31 January 2011. The results for the
year will depend on the development in financial markets.
For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30
Yours sincerely
Scandinavian Private Equity A/S
Jens Erik Christensen Ole Mikkelsen
Chairman CEO
[HUG#1424823]
