INTERIM REPORT NO. 3 FOR THE FINANCIAL YEAR 2007 REFERRING TO THE PERIOD JANUARY 1 – SEPTEMBER 30,2007
STRONG GROWTH IN THE PORTFOLIO COMPANIES
• The Group’s net income amounted to MSEK -9.5 (43.7), corresponding to SEK -0.25 (1.18) per share. Equity amounted to MSEK 407.7 (761.8), corresponding to SEK 10.96 (20.49) per share. Cash and cash equivalents amounted to MSEK 13.1 (17.7).
• During the period a distribution of MSEK 185.9, equivalent to SEK 5.00 per share was made to the shareholders through a redemption procedure.
• The development in the portfolio companies has continued positively, MyPublisher by showing an increased growth rate of 72%, Explorica’s growth rate was 23% and Qbranch’s 22%. Sales in Strax was negative compared to the previous year.
• Diino has shown a strong, increasing growth in the number of new users. The company has quadrupled the number of users since the beginning of the year, and during October the number exceeded 200 000 users. Swisscom invested MEUR 2.3 in Diino in July.
• The entire holding in Nove Capital Fund was redeemed for MSEK 300.8 during the spring. The investment gave a return amounting to MSEK 111.6, or, an appreciation in value of 59% since inception in May 2005.
“The development in the portfolio companies is very strong, and the prerequisites that 2008 will be a successful year for the portfolio companies as well as for Novestra are very positive. It is worth noting that MyPublisher shows an accelerated growth in sales, and that the growth in sales during the third quarter amounted to 110 percent. Qbranch showed an accelerated growth in sales, with a growth of approximately 30 percent in the third quarter.
Several of the portfolio companies are based in the US, the weakening of the US dollar has effected the values negatively, which has effected Novestra’s result by a total of MSEK 12.6 during the third quarter” says Novestra’s Managing Director, Johan Heijbel
The information provided in this report is such that AB Novestra is obliged to make public according to the Securities Market Act. The information has been released to the media for publication on November 7, 2007 at 8.45 am.
For further information please contact Johan Heijbel, Managing Director, AB Novestra, telephone no. +46 8 545 01750.
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Diino AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc.
The Novestra shares are listed on the OMX Nordic Exchange Stockholm. For further information regarding AB Novestra, reference is made to www.novestra.com
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