SUMMARY AND FINANCIAL HIGHLIGHTS
POSITIVE RESULT AND CONTINUED POSITIVE DEVELOPMENT AMONG THE PORTFOLIO COMPANIES
The net result for the period amounted to MSEK 4.4 (–59.3) which corresponds to a result amounting to SEK 0.2 (–2.5) per share. Shareholders’ equity as at June 30, 2003 amounted to MSEK 228.3 (351.0) corresponding to SEK 9.8 (15.0) per share.
Cash and cash equivalents, including investments made within the liquidity management and accounted for as fixed financial assets, amounted to MSEK 48.8 (59.5) corresponding to SEK 2.1 (2.55) per share. After investments, the cash flow for the period amounted to
MSEK –14.3 (–70.1) of which net investments amounted to MSEK –9.3 (–67.9).
Performance in the portfolio has continued to be positive with most companies experiencing increased revenues and improved results compared to the previous year. All of the directly and indirectly held non-public holdings, with the exception of B2 Bredband, are expected to show positive results for the full year 2003.
As a further step in the ongoing restructuring of its corporate structure initiated in 2002, Novestra has disposed of all of its subsidiary companies. Consequently, Novestra no longer prepares any consolidated financial statements. The reporting, from this interim report and henceforth, therefore only covers the holding company AB Novestra.
“The most important factor is not that we showed a positive result but that our portfolio companies have developed well in a challenging market. If this development continues through next year, and we have no reason to believe that it should not, it will contribute to produce substantial surplus values in our portfolio,” Novestra’s Managing Director, Peter Ekelund, says.
For further information please contact Mr Peter Ekelund, Managing Director, phone No. +46 8 545 017 50.
About AB Novestra
Novestra is an independent venture capital investment company with focus on investments in growth companies in the U.S. and Sweden. Novestra’s portfolio of companies includes Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc. as well as the co-investment vehicle Continuum Group Ltd. In addition, Novestra has minor holdings in i.a. DCM AB and Modul 1 Data AB (publ.). Novestra’s shares are listed on the O-List of Stockholmsbörsen.
For information regarding AB Novestra, please see www.novestra.com
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