Significant events during the quarter

Fram continues to focus on taking steps towards breakeven in core holdings.

As of 30th of April 2024, the net asset value amounted to 262 mSEK (72 SEK per share), which was approximately +170% above the closing price of the Fram B share on the same day and represented an increase of +6% compared to 31st Dec 2023.

Fram has made additional progress in reducing losses of ventures in portfolio. Carmudi’s results for Q1 2024 showed a meaningful uptrend, GMV grew by +203% y-on-y, Gross Profit increased by +345% y-on-y and number of car transactions increased by +138% compared to Q1 2023. EveHR’s revenues increased by +20% compared to the same period last year. Liven technology experienced significant growth across key metrics (revenues grew by +60% y-on-y, Gross Profit increased by +18% y-on-y, reaching positive EBITDA for the quarter). Group adj. EBIT losses were reduced by 33% y-on-y, with more cost savings flowing through in Q2.

The negotiations for the sale of DragonLend to Gologiq is still ongoing but as an actual transaction becomes less likely with time (also since DragonLend needs to pay back its creditors step by step as their loans mature and the loan book hence decreases in size as time goes by), for the sake of prudence, the Company has decided to fully provision the DragonLend investment in the NAV for the time being, resulting in a negative 4.6% impact vs. previously reported total NAV.

After this adjustment, the current NAV portfolio of Fram consists of four holdings, including three private tech companies and one public tech company.

For further information, please contact

Christopher Beselin, Chairman & IR
Phone: + 84-34-71273 14
Email: christopher.beselin@fram.asia

Tuyet Phan, Group Finance Director
Phone: + 84-79-8811021
Email: tuyet.phan@fram.asia

Per Rundblom, CEO
Phone: + 46-708445900
Email: per.rundblom@fram.asia

Certified Adviser

Svensk Kapitalmarknadsgranskning AB (SKMG), https://www.skmg.se

Briefly about Fram^

Fram^ is a listed investment company focused on the digital consumer, blockchain and other tech in Southeast Asia. The management group and board of Fram^ have 100 years of joint experience of company building and investments, both in emerging markets and in Europe. The company management's collective experience from global and regional leaders such as Bonnier, Cevian Capital, Rocket Internet, Ericsson, Lazada and Bima constitutes a multifaceted and necessary foundation for successfully investing in companies in emerging markets and helping them to grow.

This information is information that Fram Skandinavien 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 2024-05-16 08:00 CEST.

Attachments

Fram Skandinavien Quarterly Report Q1 2024

© Modular Finance, source Nordic Press Releases