Exit plans expected to give results during 2013
The Group’s result amounted to MSEK -27.4 (-15.6) corresponding to -0.76 (-0.42) per share. Equity, as at December 31, 2012 amounted to MSEK 281.1 (317.8) corresponding to SEK 7.82 (8.55) per share. The Group’s cash and holdings in listed shares amounted to MSEK 18.1 (30.8). The liquidation of Diino effected the result by MSEK 24.
Novestra’s private portfolio companies showed very good sales and results during the last quarter of 2012, especially the two largest holdings Strax and MyPublisher. Strax, the only company in the portfolio with loan financing, had net cash amounting to approximately MEUR 2.5 at the end of 2012 (-6.0).
The preliminary figures for 2012 are a turnover of MEUR 65.4 (61.4) for Strax with an EBITDA result amounting to MEUR 5.6 (4.0), sales of MUSD 34.6 (32.5) for MyPublisher with an EBITDA result of MUSD 7.0 (3.0) and Explorica, whose financial year ended August 31, 2012 had a turnover of MUSD 69.1 (69.3) with an EBITDA result of MUSD 2.8 (1.1) for the split financial year 2011/2012.
The prospects in 2013 for the portfolio companies are very positive. Growth and results in both Strax and MyPublisher are expected to increase with approximately 20 percent this year. The remaining portfolio consists of companies which show both strong cash flow and improved profitability which allows for good opportunities in the ongoing work with exit strategies.
The Annual General Meeting held on April 26, 2012 renewed the Boards mandate to purchase the company’s own shares. The Board resolved to commence the purchase of own shares and a total of 1 227 407 shares have been purchased since February 2012.
The total return on the Novestra share since 2002 including dividends amounts to 206.7 percent, corresponding to an annual return of 11.9 percent. The total return index for the Stockholm stock exchange during the same period gave a return of 7.1 percent per year.
Comments from the Managing Director
“The ongoing process to realize the values in the portfolio is expected to be either through industrial sales or through listings in combination with distribution of shares to Novestra’s shareholders.
Having reviewed the sales and results forecasts for the portfolio companies for 2013, we expect to realize considerable values providing the market conditions do not deteriorate further” says Johan Heijbel.
For further information, please contact Johan Heijbel, Managing Director AB Novestra, +46 (0) 8 545 017 50
The information provided in this report is such that AB Novestra is obliged to make public according to the Securities Market Act (sv. lagenomvärdepappersmarknaden). The information has been released to the media for publication on February 12, 2013 at 8.55 am (CET).
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Explorica, Inc., MyPublisher, Inc., and Strax Group GmbH. In addition, Novestrahas an investment corresponding to approximately 6 percent of the shares in WeSC AB, listed on First North.
The Novestra shares are listed on NASDAQ OMX Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com
Download Year-end Report