VNV Global AB (publ) Financial Report for the Third Quarter and the First Nine Months 2021

Net asset value (NAV) and financial results for the nine-month period 2021
The VNV Global AB (publ) (“VNV Global”) group’s net asset value was USD 1,490.38 million (mln) on September 30, 2021 (December 31, 2020: 1,080.23), corresponding to USD 14.02 per share (December 31, 2020: 11.36). Given a SEK/USD exchange rate of 8.7378 the NAV was SEK 13,022.59 mln (December 31, 2020: 8,833.34) and SEK 122.50 per share (December 31, 2020: 92.91), respectively.

The group’s NAV per share in USD increased by 25.31%.

Net result for the period was USD 276.95 mln (January 1, 2020–September 30, 2020: 29.64). Earnings per share were USD 2.65 (0.35).

Financial results for the third quarter 2021
Net result for the quarter was USD 149.45 mln (38.33). Earnings per share were USD 1.41 (0.42).

Key events during the quarter July 1, 2021–September 30, 2021
During the third quarter of 2021, VNV Global invested a total of USD 65.7 mln, mainly in Olio (USD 13.9 mln), Breadfast (USD 7.0 mln), Collectiv Food (USD 6.8 mln) and other scout investments (USD 6.6 mln).

In July 2021, VNV Global invested GBP 4.9 mln as part of a 12 mln series A round in Collectiv Food. Collectiv Food is a B2B food marketplace that supplies a range of food retailers, from restaurants, to catering firms and dark kitchens with food and beverage products from thousands of different producers.

On July 21, 2021, VNV Global completed the sale of all of its shares in Wallapop for a total consideration of USD 11.8 mln (EUR 10 mln).

On July 27, 2021, Victoria Grace resigned from the Board of Directors of VNV Global at her own request, citing a looming conflict of interest. Victoria will continue to serve as VNV Global’s representative on select portfolio company boards on a consultancy basis.

On July 28, 2021, VNV Global announced that its portfolio company Swvl had entered into a SPAC merger agreement with Queen’s Gambit Growth Capital to become publicly traded, resulting in an expected NAV increase of SEK 8.1 per share compared to the 2Q21 NAV.

On August 6, 2021, VNV Global announced that its portfolio company Voi had raised additional funding, resulting in an expected NAV increase of SEK 7.6 per share compared to the 2Q21 NAV.

Key events after the end of the period
On October 8, 2021, VNV Global announced that its portfolio company Babylon had secured a sustainability-linked investment of up to USD 200 mln from AlbaCore Capital Group in the form of notes and warrants. The investment is subject to the completion of Babylon’s SPAC merger transaction with Alkuri Global Acquisition Corp.

On October 21, 2021, VNV Global announced that its portfolio company completed its business combination with Alkuri Global Acquisition Corp. The transaction was approved on October 20, 2021, by Alkuri’s shareholders. Babylon’s shares of Class A common stock and its warrants will begin trading on the New York Stock Exchange (“NYSE”) on October 22, 2021, under the new ticker symbols “BBLN” and “BBLN.W”, respectively.
 

The Company will hold a telephone conference with an interactive presentation at 15:30 CEST (09:30 a.m. EDT) Friday, October 22. For call-in details, see separate press release issued Wednesday, October 20, at www.vnv.global.