Interim Report January-September 2017
Nine months 2017
Net profit/loss for the period amounted to MSEK 43.4 (55.1).
Earnings per share amounted to SEK 3.07 (3.70).
Net asset value amounted to MSEK 824 (SEK 60.41 per share) at September 30, 2017,
compared to MSEK 842 (SEK 56.69 per share) at year-end 2016.
Net cash amounted to MSEK 455 (SEK 33.35 per share) at September 30, 2017,
compared to MSEK 384 (SEK 25.85 per share) at year-end 2016.
The 2017 Annual General Meeting resolved that no dividend would paid for FY 2016 in
view of the fact that SEK 38m (SEK 2.57/share) had been distributed through shares
buybacks during Q1 2017.
Third quarter 2017
• Net profit/loss for the quarter amounted to MSEK -16.4 (9.9).
• Earnings per share amounted to SEK -1.19 (0.66).
Comments by the CEO
NAXS’s NAV/share contracted by 1.9% during the third quarter, due to a
slightly negative development of the valuation of private equity fund
investments and exchange rates. Over the first nine months of 2017, the
NAV/share increased by 6.6%, and by 11.5% over 12 months.
NAXS continued to repurchase its own shares during the third quarter,
acquiring 419,282 shares. These repurchases, made at an average
discount of 16% to the June 30th net asset value, were deemed capital-
efficient for the Company and value-accretive for our shareholders. As of
the end of the third quarter, NAXS held a total of 422,812 shares, representing 3% of the
total number of shares.