Stockholm, July 14, 2017
PRESS RELEASE - NAXS AB (publ)
This announcement is not an offer of securities for sale in the United States nor in any other country, and securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. Nor does it constitute or form part of, and may not be used for the purposes of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities by any person in any jurisdiction, nor shall it or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment to do so, in which (i) such offer or invitation is not authorised; or (ii) in which the person making such offer or invitation is not qualified to do so; or (iii) to any person to whom it is unlawful to make such offer or invitation.
First half-year 2017
Net profit/loss for the first half-year amounted to MSEK 59,8 (45,2).
Earnings per share amounted to SEK 4.14 (3.04).
Net asset value amounted to MSEK 866 (SEK 61.55 per share) at June 30, 2017, compared to MSEK 842 (SEK 56.69 per share) at year-end 2016.
Net cash amounted to MSEK 459 (SEK 32.61 per share) at June 30, 2017, compared to MSEK 384 (SEK 25.85 per share) at year-end 2016.
Second quarter 2017
- Net profit/loss for the quarter amounted to MSEK 49,2 (20,0).
- Earnings per share amounted to SEK 3.41 (1.35).
Comments by the CEO
NAXS delivered a robust performance during the first half-year of 2017, with the NAV/share growing by 8.6%.
Public markets continued to offer an attractive exit route for our managers during the second quarter, with 4 new listings and several share sell-downs for previously listed portfolio companies.
During the quarter, NAXS divested its entire stake in MIPS, which it had acquired in the initial public offering the company on Nasdaq Stockholm in March. This investment, which was one of the first made in accordance with NAXS’ revised investment policy, generated a multiple on invested capital of 1.3x in under two months.
Lennart Svantesson
Financial summary
| 2017 1/1–6/30 | 2016 1/1–6/30 | 2017 4/1–6/30 | 2016 4/1–6/30 | |
| Net profit/loss for the period, KSEK | 59 828 | 45 208 | 49 246 | 20 014 |
| 2017 06/30 | 2016 12/31 | |
| Private equity fund investments, KSEK | 408 214 | 458 701 |
| Private equity fund investments in % of equity | 47 | 55 |
| Remaining commitments, KSEK | 99 851 | 58 444 |
| Total exposure to private equity fund investments, KSEK | 508 065 | 517 145 |
| Net cash, KSEK | 458 579 | 383 807 |
| Private equity fund investments per share, SEK | 29.03 | 30.89 |
| Net cash per share, SEK | 32.61 | 25.85 |
| Net asset value per share, SEK | 61.55 | 56.69 |
| Share price, SEK | 49.50 | 49.40 |
Contact information
Lennart Svantesson, CEO Telephone: +46 73 311 00 11 Gösta Lundgren, CFO Telephone: +46 70 710 47 88 This information is information that Naxs AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 8.30 CET on July 14, 2017.
This press release and further information is available on the Company’s website: www.naxs.se
NAXS 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
NAXS is an investment company listed on NASDAQ Stockholm. NAXS primarily invests in private equity funds with a Nordic focus, but may also make direct investments or co-investments alongside private equity or other alternative assets funds. In addition, NAXS may, to a limited extent, make other types of investments.
