2008-04-23 Press release: Interim report no. 1 for the financial year 2008
Strong growth and continued positive development for the portfolio companies
The Group’s net income amounted to MSEK -4.2 (14.8) corresponding to SEK -0.11 (0.40) per share. Equity, as at March 31 2008 amounted to MSEK 417.7 (618.7) corresponding to SEK 11.2 (16.6) per share. Cash and cash equivalents including liquid investments amounted to MSEK 41.0 (270.5).
Development in the portfolio companies has been strong during the beginning of 2008. MyPublisher has shown an increased growth in sales of approximately 115 percent, Qbranch 38 percent and Strax 1 percent. The increase in sales for Explorica for the financial year 2008/2009 is expected to amount to approximately 20 percent with improved profitability.
Diino continues to see a very strong increase in regard to the number of registered users. In comparison to the beginning of 2008 the company expects to double the number of users to approximately one million during the first six months of 2008.
While the development among the portfolio companies overall is positive, the Q1 results have been negatively effected by MSEK 16.8 due to the decrease in value of the US dollar.
“Development in the portfolio companies has been very strong during the beginning of 2008. My assessment is that all of our portfolio companies have a strong position in their respective branches and in the markets where they are active and are expected to have a positive development despite concerns regarding world economy and significant insecurity of the present and future economic situation.
MyPublisher and Qbranch are showing an impressive growth in sales since the beginning of the year. Explorica continues to show significantly improved profitability despite a turbulent situation with a weakening US dollar which influences the large number of American customers ability and willingness to travel. The development in Strax during the first quarter implies that the majority of the problems experienced during the previous two years are rectified, while the liquidity situation in the company remains strained. The stream of new users to Diino continues. The company expects to exceed one million registered users during the first half of 2008 in comparison to approximately half a million users at the beginning of 2008. Netsurvey continues to have a stable development and has shown both improved growth and profitability.” Says Johan Heijbel, Novestra’s Managing Director.
The information provided in this interim 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 April 23, 2008 at 8.55 am.
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