Company announcement no 11 2011/12
Copenhagen, 27 September 2011
Interim Report for the period 1 February 2011 - 31 July 2011
Profit for H1 2011/12 amounted to DKK 57.1m. Equity stood at DKK 934m,
corresponding to a book value per share of DKK 19,981.
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
2011 - 31 July 2011. The Interim Report contains the following highlights:
* The Company recorded a net profit of DKK 57.1m for the period. Investments
in private equity funds generated a return of DKK 61.5m. Net financials came
to DKK 0.0m.
* Investments in private equity funds amounted to DKK 855m, and SPEAS's
uncalled investment commitments totalled approximately DKK 289m, which the
funds may invest in new companies in the next few years.
* SPEAS has deposited DKK 89m with Danish banks and has also established
satisfactory credit facilities to cover uncalled investment commitments.
* In H1 2011/12 SPEAS contributed DKK 98.1m to the private equity funds in
accordance with the investment commitments made and received DKK 35.4m as
proceeds from the companies sold and recapitalisation.
* Equity stood at DKK 934m at 31 July 2011, equal to a book value per share of
DKK 19,981 against a share price of DKK 12,650 at 26 September 2011.
* In the first half of the financial year under review, SPEAS bought back
another 567 own shares totalling DKK 7.2m as the share price was considered
attractive compared with the Company's other investment alternatives.
* In light of the recent turmoil in financial markets, SPEAS maintains its
forecast of a profit in the range of DKK 55m-DKK 65m for the financial year
2011/12 ending on 31 January 2012. 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#1549991]
