Significant improvement in results for the majority of the portfolio companies despite the generally weaker economic climate during the period
The Group’s net income amounted to MSEK 43.0 (-90.7) corresponding to SEK 1.16 (-2.44) per share. Equity as at December 31 2009 amounted to MSEK 374.1 (331.1), corresponding to SEK 10.06 (8.90) per share. Cash and cash equivalents including holdings in listed companies amounted to MSEK 76.5 (47.9).
Continued positive development in the portfolio companies with increased market shares and significantly improved results, despite the very challenging market situation during 2009. The larger portfolio companies are reporting a very positive start so far in 2010.
Novestra received dividends from the portfolio companies totaling MSEK 14.3 and approximately MSEK 3.8 through a redemption procedure in WeSC. None of the larger portfolio companies are expected to have any additional capital needs.
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.
“2009 was a very strong year for Novestra’s portfolio companies with positive growth in results whereby four of the companies each had an EBITDA result exceeding MSEK 40. The market situation during 2009 led the companies in general to be focused on margins and profitability, while during the start of 2010 we have already seen quite substantial increases in sales which most likely will contribute to further improved profitability and even higher margins. I am very pleased with how we have handled our investments during the last few years and it feels very good to be able to report such strong results during a period where many other small companies have fought for their survival.
Now in 2010, the prerequisites are better than ever for continued positive development which we believe will result in increased value for Novestra’s shareholders” 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 February 16, 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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