NAXS AB (publ) Half-year financial report January-June 2022

First half-year 2022

• Net profit for the half-year amounted to MSEK 58.7 (81.1).
• Earnings per share amounted to SEK 5.27 (7.27).
• Net asset value amounted to MSEK 872 (SEK 78.71 per share) at June 30, 2022,
  compared to MSEK 823 (SEK 73.78 per share) at December 31, 2021.
• Net cash amounted to MSEK 258 (SEK 23.29 per share) at June 30, 2022, compared to
  MSEK 266 (SEK 23.81 per share) at December 31, 2021.
• The 2022 Annual General Meeting resolved to pay a dividend of 3.50 SEK per share for
  FY 2021.

Second quarter 2022

• Net profit/loss for the quarter amounted to MSEK 18.6 (36.4).
• Earnings per share amounted to SEK 1.67 (3.27).

Comments by the CEO

After having served as the company’s CFO since inception in 2007, I am pleased to deliver
my first financial report as Interim CEO.
NAXS continued to deliver a steady performance during the second quarter of 2022, with
the NAV/share increasing by 5.2% and over 12 months, the NAV/share has increased by
25.2%, including the dividend paid in April.

During the second quarter, NAXS made 1 new fund investment, with a MEUR 5
commitment to JAB Consumer Partners – JCP V. The fund co-invests with JAB Holding, a
privately held group focused on consumer goods & services companies, as well as the pet
care sector. NAXS is an existing investor in JAB’s two predecessor funds (JAB Consumer
Fund – Global Consumer Brands II and III). At the end of the quarter, NAXS also raised its
investment commitment to Mimir Industries AB from 36MSEK committed at the first close
to 75MSEK at the final close of the vehicle.
As to NAXS’s underlying funds, they signed or closed 5 new acquisitions and exited 2
portfolio companies during the quarter.

Gösta Lundgren