Interim report January

Interim period January – June 2016

  · Net asset value per share was SEK 90.29, compared to SEK 87.40 at year-end
2015, which represents an increase of 3.3 per cent.
  · Bure’s net asset value was SEK 6,260M, compared to SEK 6,060M at year-end
2015.
  · Total return on the Bure share was 6.9 per cent, compared to the SIX Return
Index which fell by 3.7 per cent.
  · Consolidated profit after tax was SEK 364M (1,572). Earnings per share
amounted to SEK 5.25 (22.21).

Second quarter 2016

  · Net asset value per share was SEK 90.29, compared to SEK 86.24 at the
beginning of the quarter, which corresponds to an increase of 4.7 per cent.
  · Total return on the Bure share was 5.7 per cent, compared to the SIX Return
Index which fell by 0.3 per cent during the quarter.
  · In May Bure acquired an additional 2.75 million shares in Cavotec for SEK
55.1M and increased its holding from 13.1 per cent to 16.6 per cent.
  · In June Bure acquired 4.6 million shares in Lauritz.com for SEK 68.9M, which
corresponds to a holding of 11.3 per cent.
  · In accordance with the decision of the Annual General Meeting, Bure paid an
ordinary dividend of SEK 1.00 per share and an extraordinary dividend of SEK
1.00 per share.

Subsequent events

  · Net asset value per share was SEK 104.32 on 17 August 2016, which
corresponds to an increase of 19.4 per cent since year-end 2015.
  · The increase in net asset value since 30 June 2016 was 15.5 per cent
compared to SIX Return Index which rose by 6.0 per cent.

Bure’s net asset value per share rose by 4.7 per cent in the second quarter.
Since year-end 2015, net asset value per share adjusted for dividends has thus
increased by 5.6 per cent, compared to the SIX Return Index which fell by 3.7
per cent.

During the quarter we raised our holding in Cavotec.In spite of a fairly tough
first half for Cavotec, we see potential for the company’s systems and
technology, particularly for ports and airports. Following the acquisition,
Bure’s holding amounts to 16.6 per cent,an increase of 3.5 percentage points.

In June Bure took part as a so-called anchor investor in the IPO of the Danish
online auction company Lauritz.com. Since 2000 Lauritz has been managed very
successfully by entrepreneur Bengt Sundström and today the company has 27
auction houses in five countries. A stronger balance sheet and new owners will
create favourable conditions for ongoing expansion.The investment in Lauritz is
an interesting complement to Bure’s portfolio as it increases exposure to e
-commerce and the Internet. Bure has invested approximately SEK 70M and now owns
11.3 per cent of the company. Lauritz will be communicated as a new portfolio
company.

After the end of the period, Mycronic presented a very strong interim report
with sales growth of 37 per cent, a dramatic increase in operating profit and a
record high order backlog, which boosted the company’s share price by over 40
per cent. It is extremely satisfying to see that the company’s strategy is
continuing to create excellent results. This increase has also affected Bure’s
net asset value which was SEK 104.32 per share at the reporting date.

Cash and cash equivalents and short-term investments at the end of the quarter
totalled approximately SEK 880M, of which investable funds of around SEK 700M.

Henrik Blomquist
Verkställande direktör


The information in this interim report is subject to the disclosure requirements
of Bure Equity AB under the Swedish Securities Market Act and/or the Swedish
Financial Instruments Trading Act. This information was publicly communicated on
18 August 2016, 08:30 a.m. CEST.


For additional information contact
Henrik Blomquist, CEO +46 (0)8 614 00 20
Max Jonson, CFO +46 (0)8 614 00 20
Interim report January – June 2016

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