NAXS Half-year financial report January-June 2021

14 July 2021

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First half-year 2021

  • Net profit for the half-year amounted to MSEK 81.1 (-61.0).
  • Earnings per share amounted to SEK 7.27 (-5.47).
  • Net asset value amounted to MSEK 732 (SEK 65.66 per share) at June 30, 2021, compared to MSEK 679 (SEK 60.87 per share) at December 31, 2020.
  • Net cash amounted to MSEK 268 (SEK 24.00 per share) at June 30, 2021, compared to MSEK 219 (SEK 19.65 per share) at December 31, 2020.
  • The 2021 Annual General Meeting resolved to pay a dividend of 3.00 SEK per share for FY 2020.

Second quarter 2021

  • Net profit/loss for the quarter amounted to MSEK 36.4 (-57.0).
  • Earnings per share amounted to SEK 3.27 (-5.11).

Comments by the CEO

NAXS continued to deliver a steady performance during the second quarter of 2021 with
the NAV/share increasing by 4.2%, and by 23.9% over 12 months, including the dividend
paid.
In May, NAXS’s majority shareholder, QVT Financial LP, requested that the company
convene an extraordinary general meeting to replace the current board of directors in its
entirety and consider the election of 5 new directors nominated by QVT. The request was
based on QVT’s views that, as NAXS’s portfolio matures and evolves, the company is
entering a new phase and requires new leadership. A stated ambition of the proposed new
board is to evaluate and potentially evolve NAXS’s investment mandate and, where
possible, to streamline the company’s structure in order to optimize the outcome for all
shareholders.

In June, NAXS made a MEUR 1 commitment to Nordic Capital Evo I, the new mid-market
funds launched by Nordic Capital. The fund will target mid-market investments across
Northern Europe and will closely replicate Nordic Capital’s established strategy focusing on
non-cyclical growth opportunities within the Healthcare, Technology & Payments and
Financial Services sectors.

During the quarter, NAXS ́s underlying funds acquired 6 new portfolio companies and
exited 1 company.

Lennart Svantesson

 NAXS_Half-year_financial_report_2021.pdf
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