Financial position
- Net Asset Value (NAV) amounted to 438 422 KSEK, corresponding to
8.93 SEK per share, which represents a decrease of -10% per share for the quarter. - Net cash amounted to 171 027 KSEK, equivalent to 39% of NAV as of
September 30, 2023 .
The period July-
- Change in value of financial assets amounted to -28 239 KSEK (-5 251). The change in value includes an adjustment of the value of Instabee by -26 402 KSEK, mainly based on a tougher e-commerce market with reduced volumes.
- Operating expenses amounted to 1 114 KSEK (1 166).
- Operating profit amounted to -29 353 KSEK (-6 417).
- The operating profit includes unrealized changes in value of -28 239 KSEK (-5 251).
- Profit after tax amounted to -29 053 KSEK (-5 578).
- Profit per share amounted to
-0.80 SEK (-0.17).
The period January-
- Change in value of financial assets amounted to -53 538 KSEK (-53 911). The change in value includes an adjustment of the value of Instabee by -57 925 KSEK.
- Operating expenses amounted to 5 956 KSEK (3 718).
- Operating profit amounted to -59 494 KSEK (-57 629).
- The operating profit includes unrealized changes in value of -46 311 KSEK (-65 991) and realized changes in value of -7 227 TSEK (12 080).
- Profit after tax amounted to -57 831 KSEK (-50 106).
- Profit per share amounted to
-1.78 SEK (-1.63).
Significant investments and divestments during the quarter
- No significant investments or divestments were made during the period.
Significant events during the quarter
- During the quarter, Flat completed a rights issue that provided the company with 152.9 MSEK before issue costs. The issue costs amounted to 4.1 MSEK. A total of 16 989 332 B shares were subscribed for, corresponding to a subscription rate of 110.6 percent. In accordance with the terms of the issue, a directed over-allotment issue was carried out to
Dusco AB .
Other events during the quarter
- In September, Flat's portfolio company Steven announced a takeover bid by the British fintech company Blackthorn Finance. Payment is intended to be made in cash and equity. The holding in Steven is valued in accordance with the indicated bid.
- Flat has received warrants in Spaarkd, free of charge, as a result of a previous investment in the existing portfolio company Pangaia. The warrants are currently valued at
0 SEK .
Significant events after the end of the quarter
- No significant events have occurred after the end of the quarter.
This text has been translated using DeepL.
Link to the report on the website:
https://www.flatcapital.com/en/investor-relations/
For further information, please contact:
Certified Adviser:
About
Note: This is a non-official translation of the Swedish original text. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.
© Modular Finance, source