NAXS AB (publ) Interim financial report January – September 2024

9-month 2024

• Net profit amounted to MSEK -72.3 (18.5).
• Earnings per share amounted to SEK -6.53 (1.67).
• Net asset value amounted to MSEK 803 (SEK 72.46 per share) at September 30, 2024, compared to MSEK 922 (SEK 83.24 per share) at December 31, 2023.
• Net cash amounted to MSEK 222 (SEK 20.02 per share) at September 30, 2024, compared to MSEK 209 (SEK 18.89 per share) at December 31, 2023.
• The 2024 Annual General Meeting resolved to pay a dividend of 4.25 SEK per share for FY 2023 and voted for a continued share repurchase mandate.

Third quarter 2024

• Net profit amounted to MSEK -41.5 (11.3).
• Earnings per share amounted to SEK -3.74 (1.02).

Comments by the CEO

NAXS net asset value per share decreased by 4.9% to SEK 72.46 during Q3 2024. The company reported a net loss of MSEK 41.5 for the quarter, mainly due to a decline in the value of private equity fund investments. Net cash stood at MSEK 222, following repayments from private equity funds.

During the quarter, NAXS made a MEUR 1.3 investment in Equip Capital SPV SCSp (“Equip SPV”). Equip SPV is a continuation vehicle established to acquire 2 portfolio companies, Rush and iteam, from Equip Capital Fund I with the aim to build on their successful platforms and support a new phase of growth.

After the end of the Interim period, NAXS increased its commitment to Celero Fund (E) AB by MEUR 1.7, bringing its total commitment to the fund to MEUR 3.2. Celero focuses on the services, consumer goods and niche industrials sectors.

Nikolai Jebsen