The significant improvements in results during 2009 are expected to continue in 2010 and the companies are very well equipped despite some uncertainty about the current economic climate.
The Group’s net income amounted to MSEK 14.2 (-311) corresponding to SEK 0.38 (-0.01) per share. Equity as at March 31 2009 amounted to MSEK 388.3 (330.8) corresponding to SEK 10.4 (8.9) per share.
Cash and cash equivalents including holdings in listed companies amounted to MSEK 94.8 (39.4).
Strong market positions and a positive outlook for all the portfolio companies during 2010.
With the current development in the larger portfolio companies the Board of Directors have concluded that there are promising opportunities for liquidity through divestments or listings and positive growth in value in the portfolio companies.
“The conscious focus on profitability in the companies during 2009 will continue during 2010. This means that we do not expect high growth at the expense of profitability, but rather a controlled growth of approximately 10-20 percent for most of the portfolio companies with increased profitability in 2010.
The prerequisites for continued positive development in the individual companies are better than ever, which of course we believe will result in increased value for Novestra’s shareholders. There is still uncertainty about the general economic climate in the future, but the development of Novestra’s portfolio companies during 2009 has proven that the companies have the ability to deliver, regardless of the economic climate” says Novestra’s Managing Director, Johan Heijbel.
For further information please contact Johan Heijbel, Managing Director, AB Novestra, phone no. +46 8 545 017 50.
The information provided in this report is such that AB Novestra is obliged to make public according to the Securities Market Act [sv. lagen om värdepappersmarknaden]. The information has been released to the media for publication on April 21, 2010 at 8.55 am (CET).
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of private and public growth companies including Diino AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc. In addition to the above Novestra holds 10 percent in WeSC AB, listed on First North, NASDAQ OMX Stockholm.
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
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