Stockholm, April 26, 2013
PRESS RELEASE
NAXS Nordic Access Buyout Fund AB (publ)
First Quarter 2013
- Net profit/loss for the period amounted to MSEK -4,7 (9,2).
- Earnings per share amounted to SEK -0.32 (0.62).
- Net asset value amounted to MSEK 604 (SEK 40.53 per share) at March 31, 2013, compared to MSEK 609 (SEK 40.83 per share) at year-end 2012.
- Net cash amounted to MSEK 89 (SEK 6.01 per share) at March 31, 2013, compared to MSEK 123 (SEK 8.22 per share) at year-end 2012.
Comments by the CEO
It is satisfying to see that NAXS’ net asset value has increased by 7.3% - including the dividend paid in 2012 – over a 12-month period. This positive development is primarily due to an increase in valuation of the Company’s private equity fund investments, as well as liquidity events in the portfolio.
During the first quarter of 2013, however, as a result of the strengthening of the SEK, NAXS’ net asset value decreased by 0.7%, despite the fact that the valuation of the Company's private equity fund investments increased in local currency.
After the latest 2 new acquisitions and 1 exit, NAXS’ underlying funds have a total of 82 portfolio companies, NAXS’ private equity fund investments have reached 85% of equity, and the 8 exits that have occurred since NAXS’ inception have generated an average gross IRR of 20%.
While private equity has recently received increased media coverage, listed private equity remained an asset class that is not widely understood and we intend to continue our efforts to inform the market about the asset class in general, and NAXS in particular.
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 1/1–3/31 |
2012 1/1–3/31 |
|
| Net profit/loss for the period, KSEK | -4 718 | 9 235 |
|
2013 3/31 |
2012 12/31 |
|
| Private equity fund investments, KSEK | 512 982 | 487 173 |
| Private equity fund investments in % of equity | 85 | 80 |
| Remaining commitments, KSEK | 183 461 | 212 544 |
| Total exposure to private equity fund investments, KSEK | 696 443 | 699 717 |
| Net cash, KSEK | 89 451 | 122 624 |
| Private equity fund investments per share, SEK | 34,44 | 32,64 |
| Net cash per share, SEK | 6,01 | 8,22 |
| Net asset value per share, SEK | 40,53 | 40,83 |
| Share price, SEK | 31,90 | 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 12:00 CET on April 26, 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
