Scandinavian Private Equity A/S reported unaudited earnings results for second quarter and six months ended July 31, 2013. For the quarter, the company's loss from investment activities was DKK 6,423,000 against income of DKK 26,265,000 a year ago. Loss before amortization (LBITDA) was DKK 7,783,000 against profit of DKK 24,028,000 a year ago. Operating loss (LBIT) was DKK 9,553,000 against profit of DKK 24,028,000 a year ago. Loss before tax was DKK 12,143,000 against profit of DKK 26,285,000 a year ago. Loss per share was DKK 268 against earnings of DKK 577 a year ago. Loss after tax was DKK 12,222,000 against profit of DKK 26,285,000 a year ago. Cash used in operating activities was DKK 1,515,000 against DKK 3,327,000 a year ago. Loss on private equity funds was 0.8% against return on private equity funds of 3.5% a year ago.

For the six months, the company's income from investment activities was DKK 14,001,000 against DKK 43,344,000 a year ago. Profit before amortization (EBITDA) was DKK 10,947,000 against DKK 39,012,000 a year ago. Operating profit was (EBIT) was DKK 8,012,000 against DKK 39,012,000 a year ago. Profit before tax was DKK 3,908,000 against DKK 41,086,000 a year ago. Earnings per share were DKK 81 against DKK 902 a year ago. Book value per share as on July 31, 2013 was DKK 20,174 against DKK 20,661 as on July 31, 2012. Profit after tax was DKK 3,673,000 against DKK 41,156,000 a year ago. Cash used in operating activities was DKK 5,281,000 against DKK 8,180,000 a year ago. Return on private equity funds was 1.8% against 5.9% a year ago.

Based on the realized profit for the financial period, the company now forecasts a profit in the range of DKK 25 million to DKK 35 million for the financial year ending on January 31, 2014 against a previous profit forecast in the range of DKK 55 million to DKK 65 million. 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.