NAXS AB: 9-month financial report January - September 2023
- Net profit amounted to MSEK 18.5 (144.5).
- Earnings per share amounted to SEK 1.67 (13.00).
- Net asset value amounted to MSEK 936 (SEK 84.52 per share) at September 30, 2023, compared to MSEK 959 (SEK 86.59 per share) at December 31, 2022.
- Net cash amounted to MSEK 226 (SEK 19.91 per share) at September 30, 2023, compared to MSEK 212 (SEK 19.11 per share) at December 31, 2022.
- The 2023 Annual General Meeting resolved to pay a dividend of 3.75 SEK per share for FY 2022.
- Net profit/loss amounted to MSEK 11.3 (51.7).
- Earnings per share amounted to SEK 1.02 (4.67).
In the fourth quarter of 2022, the functional currency of the Danish and Norwegian subsidiaries was changed to be the same as that of the parent company and is reported in the income statement in the item Change in value instead of as before when the foreign subsidiaries financial statements have been translated to SEK and the translation difference has been reported in other comprehensive income. The comparison period January - September 2022 has been adjusted accordingly and the translation difference that is now included in last year's profit amounted to MSEK 51.1, corresponding to SEK 4.61 per share.
Comments by the CEO
The third quarter saw the NAV/share edge up by 1.2%. Over 12 months, the NAV/share has increased by 5.9%, including the FY 2022 dividend paid during the previous quarter.
Just as during the first half of 2023, the macro-economic backdrop remained challenging during the third quarter, affecting both general investor sentiment and private equity market activity. In the Nordics, private equity deal volume continued to be lower than during preceding years, notably due to tighter financing conditions.
NAXS's portfolio nevertheless saw 3 new acquisitions and 1 exit by underlying funds during the third quarter.
Finally, you will have noticed the new reporting format implemented in this interim report, whereby we aim to make our reporting both more informative and easier to read.
Gösta Lundgren
Contact information
Gösta Lundgren, Interim CEO
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 19.00
CET on October 26, 2023
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.