This announcement is not an offer of securities for sale in
January-
- Net profit for the year amounted to MSEK 24.1 (37.1).
- Earnings per share amounted to
SEK 2.16 (3.24). - Net asset value amounted to MSEK 679 (
SEK 60.87 per share) atDecember 31, 2020 , compared to MSEK 710 (SEK 63.63 per share) atDecember 31, 2019 . - Net cash amounted to MSEK 219 (
SEK 19.65 per share) atDecember 31, 2020 , compared to MSEK 230 (SEK 20.60 per share) atDecember 31, 2019 . - The 2020 Annual General Meeting resolved to pay a dividend of
SEK 3.00 per share for FY 2019.
Fourth quarter 2020
- Net profit/loss for the quarter amounted to MSEK 30.1 (10.8).
- Earnings per share amounted to
SEK 2.70 (0.96).
Distribution of profits
The Board of Directors proposes a dividend of
In addition, the Board of Directors proposes to the Annual General Meeting to vote on a continued share repurchase mandate.
Comments by the CEO
NAXS´s net asset value was unchanged over the twelvemonth period despite a difficult environment. However, during the course of the year the development of the NAV was all but flat as it experienced a major drop in the second quarter followed by rapid recovery during the third quarter followed by a stable period in the fourth quarter. This reflected the general recovery that began during the summer. Despite the second wave of the Covid-19 pandemic during the second half or the year, the stock markets have exhibited strength while the private equity markets can be considered to have handled the related challenges well.
During the second half of the year NAXS made two new commitment to private equity buyout funds, Nordic Capitals Fund X and the newly established Equip Fund I. Equip is focusing on the small/midcap segment in the Nordic region, primarily
As to the underlying funds, they acquired 9 new portfolio companies and signed or closed 8 exits during 2020. A notable partial exit took place in the midst of the pandemic in May, with the listing of JDE Peet’s, a JAB Consumer Fund II portfolio company, on Euronext Amsterdam in one of the largest IPOs of 2020.
In June, NAXS paid a dividend of
At the end of 2020, NAXS had in excess of 32% of cash on its balance sheet, which leaves the Company well-positioned to continue to take advantage of potential investment opportunities.
Financial summary
2020 1/1–12/31 | 2019 1/1–12/31 | 2020 10/1–12/31 | 2019 10/1–12/31 | |
Net profit/loss for the period, MSEK | 24 118 | 37 130 | 30 109 | 10 756 |
2020 31/12 | 2019 12/31 | |
Private equity fund investments, MSEK | 428 651 | 439 638 |
Private equity fund investments in % of equity | 63 | 62 |
Remaining commitments, MSEK | 128 762 | 97 116 |
Total exposure to private equity fund investments, MSEK | 557 413 | 536 754 |
Other investments, MSEK | 31 695 | 40 824 |
Net cash, MSEK | 219 127 | 229 748 |
Private equity fund investments per share, SEK | 38.44 | 39.42 |
Other investments per share, SEK | 2.84 | 3.66 |
Net cash per share, SEK | 19.65 | 20.60 |
Net asset value per share, SEK | 60.87 | 63.63 |
Share price, SEK | 49.90 | 49.30 |
Contact information
Telephone: +46 73 311 00 11
Telephone: +46 70 710 47 88
This information is information that
This press release and further information is available on the Company’s website: www.naxs.se
Corp. Reg. No. 556712-2972
Nybrogatan 8
114 34
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 Year-end report 2020
© OMX, source