2007-08-21 Interim report no. 2 for the financial year 2007

INTERIM REPORT NO. 2 FOR THE FINANCIAL YEAR 2007 REFERRING TO THE PERIOD JANUARY 1 – JUNE 30,2007

CONTINUED POSITIVE DEVELOPMENT IN THE PORTFOLIO COMPANIES

• The Group’s net income amounted to MSEK 14.0 (34.0), corresponding to SEK 0.38 (0.91) per share. Equity amounted to MSEK 431.2 (752.1), corresponding to SEK 11.59 (20.22) per share. Cash and cash equivalents amounted to MSEK 22.6 (14.6).

• 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 51%, Explorica’s growth rate was 25% and Qbranch’s 17%. Strax’s growth rate increased in the mobile accessories business to approximately 20%, while the volumes in the mobile telephone business decreased as estimated, which resulted in a slightly negative development of sales over all.

• Swisscom, one of Europe’s leading operators, invested MEUR 2.3 in Diino in July. After the investment Novestra’s ownership amounts to approximately 49%.

• The entire holding in Nove Capital Fund has been redeemed for MSEK 300.8, of which a third was paid out in February and the remaining balance in April. The investment gave a return amounting to MSEK 111.6, or, an appreciation in value of 59% since inception in May 2005.

“The market conditions for the portfolio companies continue to be strong, which has resulted in two orders for Qbranch of respectively MSEK 100 and MSEK 65, and increased growth in MyPublisher. The interest for the companies has been great during the spring, which has, for example resulted in Swisscom investing in Diino during the summer, which further improves Diino’s opportunities for continued expansion and development” says Novestra’s Managing Director, Johan Heijbel.
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

Download report (PDF)

Comments are closed.