January -
- Net profit for the year amounted to MSEK 180.1 (177.4).
-
Earnings per share amounted to
SEK 16.22 (15.91). -
Net asset value amounted to MSEK 959 (
SEK 86.59 per share) atDecember 31, 2022 , compared to MSEK 824 (SEK 73.78 per share) atDecember 31, 2021 . -
Net cash amounted to MSEK 212 (
SEK 19.11 per share) atDecember 31, 2022 , compared to MSEK 266 (SEK 23.81 per share) atDecember 31, 2021 . -
The 2022 Annual General Meeting resolved to pay a dividend of
3.50 SEK per share for FY 2021. -
The company has reassessed whether the functional currency of the Danish and Norwegian subsidiary should be DKK and NOK or SEK, respectively, i.e. the same as that of the parent company. Previously, the financial statements of the foreign subsidiaries were recalculated to SEK and the translation difference was reported in Other Comprehensive Income. As of
December 31, 2022 , the assessment has been modified in accordance with IAS 21.11(a). This means that the functional currency of the subsidiaries is now considered to be the same as that of the parent company and is reported in the income statement in the item Changes in Value. Earned translation difference has been transferred to Retained Earnings. The comparison year has been adjusted accordingly. The translation difference that is now included in the profit for the year amounts to MSEK 62.2 (13.5), which corresponds toSEK 5.63 (1.21) per share.
Fourth quarter 2022
- Net profit/loss for the quarter amounted to MSEK 35.6 (59.1).
-
Earnings per share amounted to
SEK 3.21 (5.29).
Distribution of profits
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
As to NAXS's underlying funds, they acquired 13 new portfolio companies and signed or closed 4 full exits during 2022. Notably,
In April 2022, NAXS paid a dividend of
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.
Financial summary
2022 | 2021 | |
1/1-31/12 | 1/1-31/12 | |
Net profit/loss for the year, KSEK | 180 081 | 177 413 |
2022 12/31 | 2021 12/31 | |
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 |
Contact information
Telephone: +46 70 710 47 88
This information is information that This press release and further information is available on the Company's website: www.naxs.se Corp. Reg. No. 556712-2972 Nybrogatan 8
114 34 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. |
https://news.cision.com/naxs-ab/r/year-end-report-2022,c3706653
https://mb.cision.com/Main/21307/3706653/1818290.pdf
(c) 2023 Cision. All rights reserved., source