NAXS AB (publ) Interim Report January-March 2023

First quarter 2023

  • Net profit for the first quarter amounted to MSEK 3.9 (48.4).
  • Earnings per share amounted to SEK 0.36 (4.34).
  • Net asset value amounted to MSEK 963 (SEK 86.95 per share) at March 31,2023, compared to MSEK 959 (SEK 86.59 per share) at December 31, 2022.
  • Net cash amounted to MSEK 289 (SEK 26.09 per share) at March 31,2023, compared to MSEK 212 (SEK 19.11 per share) at December 31, 2022.
  • The 2023 Annual General Meeting resolved to pay a dividend of 3.75 SEK per share for FY 2022.

In the fourth quarter of 2022, the functional currency of the Danish and Norwegian subsidiaries was changed to be the same as that of the parent company and is reported in the income statement in the item Change in value instead of as before when the foreign subsidiaries financial statements have been translated to SEK and the translation difference has been reported in other comprehensive in- come. The comparison period January – March 2022 has been adjusted accordingly and the transla- tion difference that is now included in last year’s profit amounted to MSEK 8.3, corresponding to SEK 0.74 per share.

Comments by the CEO

Following a strong development in 2022 the NAV growth continued during the first quarter of 2023 although at a slower pace, increasing by 0.4%. This represented the 11th consec- utive quarterly NAV growth for the Company. Over 12 months, the NAV/share has in- creased by 15.8%, including the FY 2021 dividend paid in April 2022.

NAXS’s underlying funds, signed or closed 1 new acquisition, 1 full exit and 1 partial exit during the quarter.

On March 30, the Company’s 2023 AGM approved the payment of the dividend of SEK 3.75/share for FY 2022.

Gösta Lundgren

NAXS Interim Report January-March 2023