Scandinavian Private Equity A/S Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended October 31, 2013; Provides Earnings Guidance for the Full Year Ending January 31, 2014
For the nine months, the company reported income from investment activities of DKK 33,184,000, operating profit of DKK 24,057,000, profit before tax of DKK 18,349,000 and profit after tax of DKK 18,115,000 compared to income from investment activities of DKK 39,266,000, operating profit of DKK 32,646,000, profit before tax of DKK 34,381,000 and profit after tax of DKK 34,451,000 a year ago period. Earnings per share for the period were DKK 317 compared to loss per share for the period of DKK 148 per share a year ago. Cash used in operating activities was DKK 7,790,000 compared to DKK 11,436,000 a year ago period. Profit before depreciation and amortization (EBITDA) was DKK 28,997,000 compared to DKK 32,646,000 a year ago period. Book value per share was DKK 20,491 as on October 31, 2013 against DKK 20,553 as on October 31, 2013. Return on private equity funds was 4.4% against 5.3% a year ago.
Based on the realized profit for the financial period, the company still forecasts a profit in the range of DKK 25 million DKK 35 million for the financial year ending on January 31, 2014. Full-year results will depend on the development in financial markets and in the portfolio companies of the private equity funds, and the forecast is thus subject to considerable uncertainty.