Year-end report 2021
January - December 2021- Net profit for the year amounted to MSEK 163.9 (24.1).
- Earnings per share amounted to SEK 14.7 (2.16).
- Net asset value amounted to MSEK 824 (SEK 73.78 per share) at December 31, 2021, compared to MSEK 679 (SEK 60.87 per share) at December 31, 2020.
- Net cash amounted to MSEK 266 (SEK 23.81 per share) at December 31, 2021, compared to MSEK 219 (SEK 19.65 per share) at December 31, 2020.
- The 2021 Annual General Meeting resolved to pay a dividend of 3.00 SEK per share for FY 2020.
- Net profit/loss for the quarter amounted to MSEK 56.2 (30.1).
- Earnings per share amounted to SEK 5.04 (2.70).
Distribution of profits
The Board of Directors proposes a dividend of SEK 3.50 per share for the FY 2021.
In addition, the Board of Directors proposes to the Annual General Meeting to vote on a continued share repurchase mandate.
Comments by the CEO
NAXS continued its positive development during the fourth quarter of 2021 with the NAV/share increasing by 8%. During 2021, the NAV/share increased by 26%, including dividends paid.
At the request of the majority shareholder, QVT Financial, the board of NAXS was replaced in its entirety by 5 new directors elected at an extraordinary general meeting in July.
During the first half of the year, NAXS made 1 new private equity commitment to Nordic Capital Evolution I. The fund is focusing on the mid-cap segment in the North European region. In addition, NAXS made a co-investment in Krispy Kreme Doughnuts alongside JAB Holding.
As to NAXS's underlying funds, they acquired 17 new portfolio companies and signed or closed 10 full exits during 2021. In addition, a partial exit was made by Valedo II with the IPO of its portfolio company Norva24.
In March 2021, NAXS paid a dividend of SEK 3.00/share for FY 2020. The Company has now distributed a cumulative SEK 26 per share over the last 5 years to its shareholders through dividends and share repurchases.
Finally, as announced in October, I will be leaving the company after 10 years as CEO and I would like to take the opportunity to thank NAXS's shareholders for their trust and to wish the company all the best in the future.
Lennart Svantesson
Financial summary
2021 2020
1/1-31/12 1/1-31/12
Net profit/loss for the year, KSEK 163 947 24 118
2021 2020
12/31 12/31
Private equity fund investments, KSEK 513 925 428 651
Private equity fund investments in % of equity 63 63
Remaining commitments, KSEK 86 012 128 762
Total exposure to private equity fund investments, KSEK 599 937 557 413
Other investments, KSEK 44 693 31 695
Net cash, KSEK 265 523 219 127
Private equity fund investments per share, SEK 46.08 38.44
Other investments per share, SEK 4.01 2.84
Net cash per share, SEK 23.81 19.65
Net asset value per share, SEK 73.78 60.87
Share price, SEK 64.80 49.90
Contact information
Lennart Svantesson, CEO
Telephone: +46 73 311 00 11
Gösta Lundgren, CFO
Telephone: +46 70 710 47 88
This information is information that NAXS AB (publ) is obliged to make public
pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The
information was submitted for publication, through the agency of the contact
persons set out above, at 20.45 CET on January 27, 2022.
This press release and further information is available on the Company's website: www.naxs.se
NAXS AB (publ)
Corp. Reg. No. 556712-2972
Nybrogatan 8
114 34 Stockholm, Sweden
Tel: +46 (0)766 40 00 40, E-mail: info@naxs.se
NAXS is a company listed on NASDAQ Stockholm and investing primarily in private equity funds with a Nordic focus. NAXS may also make direct investments or co-investments alongside private equity or other alternative assets funds. In addition, NAXS may, to a limited extent, make other types of investments.