NAXS AB (publ) Interim Report January-March 2022

First quarter 2022

  • Net profit for the first quarter amounted to MSEK 40.1 (44.6).
  • Earnings per share amounted to SEK 3.60 (4.00).
  • Net asset value amounted to MSEK 871 (SEK 78.12 per share) at March 31, 2022, compared to MSEK 823 (SEK 73.78 per share) at December 31, 2021.
  • Net cash amounted to MSEK 332 (SEK 29.75 per share) at March 31, 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.

Comments by the CEO

The strong development experienced during 2021 continued during the first quarter of 2022, with the NAV/share increasing by 5.9%. Over 12 months, the NAV/share has increased by 24%.
During the first quarter, NAXS made 1 new private equity commitment to Mimir Industries AB, the successor investment vehicle to Mimir Invest AB where NAXS is an investor. After the end of the quarter NAXS announced a new commitment to JAB Investment Partners – JCP V, which will focus on amongst others on the pet care sector. NAXS is an investor in JCP V’s two predecessor funds.
As to NAXS’s underlying funds, they signed or closed investment in 7 new portfolio companies during the quarter.
On March 30, the AGM approved the payment of the dividend of SEK 3.50/share for FY 2021. Following this dividend payment, the Company will have distributed a cumulative SEK 25.17 per share over the last 5 years to its shareholders through dividends and share repurchases.
This will be my last financial report as CEO of the Company and again 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