Interim Report January-March 2021
First quarter 2021
- Net profit for the first quarter amounted to MSEK 44.6 (-4.0).
- Earnings per share amounted to SEK 4.00 (-0.35).
- Net asset value amounted to MSEK 703 (SEK 63.04 per share) at March 31, 2021, compared to MSEK 679 (SEK 60.87 per share) at March 31, 2020.
- Net cash amounted to MSEK 180 (SEK 16.16 per share) at March 31, 2021, compared to MSEK 219 (SEK 19.65 per share) at December 31, 2020.
- The 2021 Annual General Meeting resolved to pay a dividend of 3.00 SEK per share for FY 2020.
Comments by the CEO
NAXS experienced a steady development during the first quarter of 2021 with the NAV/share increasing by 8.5%, including the dividend paid out.
During the quarter, NAXS made a second co-investment alongside JAB Holding, this time in Krispy Kreme Doughnuts, the world-famous doughnut brand.
As to the underlying funds, they acquired 4 new portfolio companies and signed or closed 4 exits during the quarter. In addition, a partial exit took place with the listing of Kreate on Nasdaq Helsinki.
NAXS paid out in March a dividend of SEK 3.00/share for FY 2020, corresponding to 4.9% of NAV at 31 December 2020.
Lennart Svantesson
Financial summary
| 2021 1/1–03/31 | 2020 1/1–03/31 | |
| Net profit/loss for the period, KSEK | 44 621 | -3 950 |
| 2021 03/31 | 2020 12/31 | |
| Private equity fund investments, KSEK | 481 449 | 428 651 |
| Private equity fund investments in % of equity | 69 | 63 |
| Remaining commitments, KSEK | 127 083 | 128 762 |
| Total exposure to private equity fund investments, KSEK | 608 532 | 557 413 |
| Other investments, KSEK | 42 222 | 31 695 |
| Net cash, KSEK | 180 176 | 219 127 |
| Private equity fund investments per share, SEK | 43.17 | 38.44 |
| Other investments per share, SEK | 3.79 | 2.84 |
| Net cash per share, SEK | 16.16 | 19.65 |
| Net asset value per share, SEK | 63.04 | 60.87 |
| Share price, SEK | 50.80 | 49.90 |
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. The information was submitted for publication, through the agency of the contact persons set out above, at 18.30 CET on April 22, 2021.
This press release and further information is available on the Company’s website: www.naxs.se
NAXS AB (publ)
Corp. Reg. No. 556712-2972
Nybrogatan 8
114 34 Stockholm, Sweden
Tel: +46 (0)766 40 00 40, E-mail: info@naxs.se
NAXS is a company listed on NASDAQ Stockholm and investing primarily in private equity funds with a Nordic focus. NAXS 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.
Attachment
- NAXS Interim Report January-March 2021
