SUMMARY AND FINANCIAL HIGHLIGHTS
IMPROVED RESULT AND CONTINUED STRONG GROWTH AMONG THE PORTFOLIO COMPANIES
The net result for the period amounted to MSEK 8.4 (–137.2) which corresponds to a result amounting to SEK 0.4 (–5.9) per share. Shareholders’ equity as at September 30, 2003 amounted to MSEK 232.3 (273.0) corresponding to SEK 9.9 (11.7) per share.
Revenue in the non-public portfolio companies has increased, on average, by 41% during the first nine months compared to the same period the previous year. Most non-public portfolio companies show substantial result improvements compared to the previous year and are growing with profitability.
Cash and cash equivalents, including investments made within the liquidity management and accounted for as fixed financial assets, amounted to MSEK 43.2 (77.2) corresponding to SEK 1.8 (3.3) per share. After investments, the cash flow for the period amounted to
MSEK –9.9 (–52.4) of which net investments amounted to MSEK –23.6 (–55.0).
To take advantage of a number of investment opportunities in current market conditions, Novestra’s Board of Directors decided to increase the company’s capital base through a fully guaranteed preferential rights issue which was unanimously approved by an Extraordinary General Meeting held on September 22, 2003.
“Our portfolio companies’ growth and profitability have improved gradually which, combined with an increased capital base, provides Novestra with very interesting investment opportunities,” Novestra’s Managing Director, Peter Ekelund, says.
For further information please contact Mr Peter Ekelund, Managing Director, phone No. +46 8 545 017 50.
About AB Novestra
Novestra is an independent venture capital investment company with main focus on investments in companies with substantial growth possibilities or value growth potential in the U.S. and Sweden. Novestra’s portfolio of companies consists of both non-public and public companies, i.a. DCM AB, Explorica, Inc., JC AB (publ), Modul 1 Data AB (publ), MyPublisher, Inc., Netsurvey Bolinder AB, Qbranch AB and Strax Holdings, Inc. as well as the co-investment vehicle Continuum Group Ltd. Novestra’s shares are listed on the O-List of Stockholmsbörsen.
For further information regarding AB Novestra, please see www.novestra.com
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