Distribution of profits
The Board of Directors proposes a dividend of SEK 3.75 per share for the FY 2022.
In addition, the Board of Directors proposes to the Annual General Meeting to vote on a continued share repurchase mandate.
Comments by the CEO
Despite challenging macroeconomic environment, NAXS's financial results for 2022 were strong. The 4[ ]th quarter of 2022 represented the 10th consecutive quarterly NAV growth for the Company, with the NAV/share increasing by 3.9%. During FY 2022, the NAV per share increased by 22.1%, including the dividend paid in April.
On the investment side, NAXS made 2 new private equity fund commitments in 2022: the first one 5 MEUR to JAB Consumer Partners JCP V, which is focused on pet care & services, and the second one 75 MSEK to Mimir Industries, which follows a special situations investment strategy. NAXS was an existing investor in the predecessor funds of both managers.
As to NAXS's underlying funds, they acquired 13 new portfolio companies and signed or closed 4 full exits during 2022. Notably, Nordic Capital CV1 announced during the 4[ ]th quarter that it had signed an agreement to divest its portfolio company The Binding Site to Thermo Fisher Scientific, in one of the largest and most successful transactions in the Nordic private equity industry.
In April 2022, NAXS paid a dividend of SEK 3.50/share for FY 2022. The Company has now distributed a cumulative SEK 36.37 per share over the last 5 years to its shareholders through dividends and share repurchases.
While NAXS has been an active investor during the last couple of years, it has maintained a significant amount cash on its balance sheet, which leaves the Company well positioned to continue to take advantage of the potential investment opportunities that may arise in 2023 and beyond.
Net profit/loss for the year, KSEK 180 081 177 413
Private equity fund investments, KSEK 687 989 513 925
Private equity fund investments in % of equity 72 63
Remaining commitments, KSEK 157 582 86 012
Total exposure to private equity fund investments, KSEK 845 571 599 937
Other investments, KSEK 60 801 44 693
Net cash, KSEK 211 668 265 523
Private equity fund investments per share, SEK 62.11 46.08
Other investments per share, SEK 5.49 4.01
Net cash per share, SEK 19.11 23.81
Net asset value per share, SEK 86.59 73.78
Share price, SEK 59.80 64.80
Gösta Lundgren, Interim CEO
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 and the Securities Markets Act. The
information was submitted for publication, through the agency of the contact
persons set out above, at 19.00 CET on January 31, 2023.
This press release and further information is available on the Company's
NAXS AB (publ)
Corp. Reg. No. 556712-2972
114 34 Stockholm, Sweden
Tel: +46 (0)766 40 00 40, E-mail: email@example.com
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.
This information was distributed by Cision http://www.cisionwire.se/