2010-11-09 Press release: Interim report no. 3 for the financial year 2010

Improvements in the portfolio companies during the third quarter of 2010 and promising prospects for 2011

The Group’s net income amounted to MSEK 18.1 (27.7) corresponding to 0.49 (0.75) per share. Equity as at September 30, 2010 amounted to MSEK 392.2 (358.9) corresponding to SEK 10.55 (9.65) per share. Cash and cash equivalents including holdings in listed companies amounted to MSEK 106.2 (62.5).

The weakened US dollar and Euro during the third quarter negatively affected the result by MSEK 33.

Most of the portfolio companies have a strong order book and the outlook that growth accelerates during 2011 appears very promising.

Strategic discussions regarding divestment or listing are currently ongoing in three of the portfolio companies. The companies have engaged financial advisors for each respective process.

The balance sheets of the portfolio companies remain strong and Novestra estimates that the value of dividends to be received from the portfolio companies during 2010 shall amount to approximately MSEK 14.

The Board of Directors aim is to distribute the holding in WeSC to Novestra’s shareholders. Novestra hold approximately 11 percent of the outstanding shares in WeSC corresponding to a value of approximately MSEK 100 as at September 30, 2010.

The Board of Directors have decided to distribute a part of, or the entire holding of companies that will be listed to Novestra’s shareholders.

In September, a considerable refinancing in Strax was finalized, as the final stage of its restructuring process which had been ongoing for some time. The refinancing not only improved liquidity, but also considerably strengthened the balance sheets. In connection with the refinancing Novestra increased its ownership in Strax to 25 percent, with an option to increase to 32 percent.

Qbranch decided to apply for an IPO on Nasdaq OMX Stockholm during 2011. A listing would result in an additional liquidity asset for Novestra and enable a potential distribution to Novestra’s shareholders.

“We are very pleased with the general development in the portfolio companies and are optimistic for the current ongoing different processes in several of the portfolio companies, which hopefully will lead to a positive development for Novestra’s shareholders. A first step may be a distribution of shares in WeSC, a very interesting growth company whose value development we can say has not been reflected in Novestra’s share price performance over the last year”, says Johan Heijbel, Novestra’s Managing Director.

For further information please contact Johan Heijbel, Managing Director, AB Novestra, phone no. +46 8 545 01750

The information provided in this report is such that AB Novestra is obliged to make public according to the Securities Market Act (sv. lagen om värdepappersmarknaden). The information has been released to the media for publication on November 9, 2010 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 Diino AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Group GmbH. In addition, Novestra has an investment corresponding to approximately 11 percent of the shares in WeSC AB, listed on First North.

The Novestra shares are listed on the 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

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