The Group’s result amounted to MSEK -28.4 (-0.5) corresponding to -0.78 (-0.01) per share. Equity, as at September 30, 2012 amounted to MSEK 280.2 (332.9) corresponding to SEK 7.79 (8.95) per share. The Group’s cash and holdings in listed shares amounted to MSEK 18.1 (58.0). The liquidation of Diino effected the result by MSEK 24.
Novestra’s largest holdings, MyPublisher and Strax are developing better than expected and are expected to achieve growth of approximately 10-15 percent for 2012 with considerably improved results despite the weak climate in the market.
The positive development and the strong balance sheets in the portfolio companies will allow for dividends from the companies, and Strax amortized operating loans exceeding MEUR 2 during the period.
Novestra’s remaining portfolio consist of growth companies which show both strong cash flow and improved profitability than their competitors providing good opportunities in the ongoing work with exit strategies.
The Annual General Meeting held on April 26, 2012 renewed the Boards mandate to purchase the company’s own shares. The Board resolved to commence the purchase of own shares and a total of 1 227 407 shares have been purchased since February 2012.
The total return on the Novestra share since 2002 including dividends amounts to 200.7 percent, corresponding to an annual return of 11.6 percent. The total return index for the Stockholm stock exchange during the same period gave a return of 6.8 percent per year.
“The ongoing process to realize the values in the portfolio is expected to be either through industrial sales or through listings in combination with distribution of shares to Novestra’s shareholders.
Having reviewed the sales and results forecasts for the portfolio companies for 2013, we expect that we can realize considerable values providing the market conditions do not deteriorate further”, says Johan Heijbel, Managing Director, Novestra.
For further information, please contact Johan Heijbel, Managing Director AB Novestra, +46 (0) 8 545 017 50
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Explorica, Inc., MyPublisher, Inc., and Strax Group GmbH. In addition, Novestrahas an investment corresponding to approximately 6 percent of the shares in WeSC AB, listed on First North.
The Novestra shares are listed on NASDAQ OMX Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com
The information provided in this report is such that AB Novestra is obliged to make public according to the Securities Market Act (sv. lagenomvärdepappersmarknaden). The information has been released to the media for publication on October 30, 2012 at 8.55 am (CET).
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