During the second quarter, revenue growth in AB Novestra’s directly owned non-public portfolio companies increased further compared to the first quarter 2004 and has resulted in that the first six months exceed previous forecasts. The revenue growth has resulted in consistently strong result improvements for all companies.
During Q1, MyPublisher, Inc. reported an increase in revenue of 38%. For the first six months, increase in revenue was 51% and during the month of June revenue increased by slightly more than 100%.
During Q1, Strax Holdings, Inc. reported an increase in revenue of 47%. For the first six months, increase in revenue was 48% and during the month of June revenue increased by approximately 70%.
During Q1, Qbranch AB reported an increase in revenue of 23%. For the first six months, increase in revenue was 26% and during the month of June revenue increased by 32%.
During Q1, Netsurvey AB reported an increase in revenue of 13%. For the first six months, increase in revenue was 15% and during the month of June revenue growth was slightly higher.
During Q1, Explorica, Inc. showed an increase in the number of bookings of approximately 50%. During Q2, the booking situation for 2005 has improved further.
The development in the co-investment vehicle Continuum Group Ltd continues to be positive and, during the first six months, the company’s most important holding, Speedera Networks, Inc., showed an increase in revenues of approximately 70%.
DCM AB has signed a letter of intent by which Danish SDC DanDisc a/s will acquire 100% of the shares in DCM. A completion of the acquisition would mean that Novestra would get a holding in one of the largest digital media producers in Europe.
“We are very pleased with the latest development in our non-public portfolio companies and we believe that the positive development will continue during the foreseeable future. We now also see a number of opportunities to, during the upcoming 18 months, be able to realise values that we expect will exceed our carrying values,” Novestra’s chairman, Theodor Dalenson, says.
For further information, please contact Theodor Dalenson, chairman, AB Novestra, phone No. +46 8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of small cap private as well as public companies. Novestra focuses on investing in companies with substantial growth or value potential.
Novestra’s portfolio of companies consists of i.a. Explorica, Inc., FLEXbridge Technologies, LLC,
IBS AB (publ), inWarehouse AB (publ), Lagercrantz Group AB (publ), MyPublisher, Inc., Netsurvey AB, Pergo AB (publ), Qbranch AB and Strax Holdings, Inc. as well as the co-investment vehicle Continuum Group Ltd. The Novestra shares are listed on the O List of Stockholmsbörsen (the Stockholm Stock Exchange). For further information regarding AB Novestra, please see www.novestra.com