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NAXS Interim Report January-March 2022

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First quarter 2022

  • Net profit for the first quarter amounted to MSEK 40.1 (44.6).
  • Earnings per share amounted to SEK 3.60 (4.00).
  • Net asset value amounted to MSEK 871 (SEK 78.12 per share) at March 31, 2022, compared to MSEK 823 (SEK 73.78 per share) at December 31, 2021.
  • Net cash amounted to MSEK 332 (SEK 29.75 per share) at March 31, 2022, compared to MSEK 266 (SEK 23.81 per share) at December 31, 2021.
  • The 2022 Annual General Meeting resolved to pay a dividend of 3.50 SEK per share for FY 2021.

Comments by the CEO

The strong development experienced during 2021 continued during the first quarter of 2022, with the NAV/share increasing by 5.9%. Over 12 months, the NAV/share has increased by 24%.

During the first quarter, NAXS made 1 new private equity commitment to Mimir Industries AB, the successor investment vehicle to Mimir Invest AB where NAXS is an investor. After the end of the quarter NAXS announced a new commitment to JAB Investment Partners – JCP V, which will focus on among other on the pet care sector. NAXS is an investor in JCP V two predecessor funds.

As to NAXS’s underlying funds, they signed or closed investment in 7 new portfolio companies during the quarter.

On March 30, the AGM approved the payment of the dividend of SEK 3.50/share for FY 2021. Following this dividend payment, the Company will have distributed a cumulative SEK 25.17 per share over the last 5 years to its shareholders through dividends and share repurchases.

This will be my last financial report as CEO of the Company and again I would like to take the opportunity to thank NAXS’s shareholders for their trust and to wish the company all the best in the future.

Lennart Svantesson

Financial summary

2022
1/1–03/31		 2021
1/1–03/31
Net profit/loss for the period, KSEK 40 117 44 621
2022
03/31		 2021
12/31
Private equity fund investments, KSEK 495 771 513 925
Private equity fund investments in % of equity 57 63
Remaining commitments, KSEK 120 675 86 012
Total exposure to private equity fund investments, KSEK 616 446 599 937
Other investments, KSEK 44 463 44 693
Net cash, KSEK 331 793 265 523
Private equity fund investments per share, SEK 44.45 46.08
Other investments per share, SEK 3.99 4.01
Net cash per share, SEK 29.75 23.81
Net asset value per share, SEK 78.12 73.78
Share price, SEK 65.00 64.80

Contact information

Lennart Svantesson, CEO

Telephone: +46 73 311 00 11

Gösta Lundgren, CFO

Telephone: +46 70 710 47 88

This information is information that NAXS AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 18.30 CET on April 26, 2022.

This press release and further information is available on the Company’s website: www.naxs.se

NAXS AB (publ)

Corp. Reg. No. 556712-2972

Nybrogatan 8

114 34 Stockholm, Sweden

Tel: +46 (0)766 40 00 40, E-mail: info@naxs.se

NAXS is a company listed on NASDAQ Stockholm and investing primarily in private equity funds with a Nordic focus. NAXS may also make direct investments or co-investments alongside private equity or other alternative assets funds. In addition, NAXS may, to a limited extent, make other types of investments.

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