Bifogade filer
Vef 3q23 Eng
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Finans |
| Industri | Investeringar |
Key events during the quarter
- The central bank of Brazil cut SELIC interest rate from 13.75% to 12.75% in the quarter, with more expected by YE23. In contrast to much of the world, Brazil is now enjoying a tailwind from falling rates, with clear positive implications for macro, the banking system and fintech within that.
- VEF invested an additional USD 3 mln into Gringo as part of their Series C funding round. Gringo is the most used and fastest growing app for Brazilian drivers.
- VEF invested an additional USD 5 mln into Creditas in the form of a convertible loan note.
Net asset value
- NAV of VEF’s portfolio as at 9M23 is USD 422.7 mln (YE22: 381.8). NAV per share has increased by 11% to USD 0.41 (YE22: 0.37) per share during 9M23.
- In SEK, NAV equals 4,602 mln (YE22: 3,981). NAV per share has increased by 16% to SEK 4.42 (YE22: 3.82) per share during 9M23.
- Cash position, including liquidity investments, was USD 35.4 mln (YE22: 48.5) at the end of 3Q23.
Financial result
- Net result for 3Q23 was USD -56.5 mln (3Q22: 4.8). Earnings per share were USD -0.05 (3Q22: 0.01).
- Net result for 9M23 was USD 40.7 mln (9M22: -315.8). Earnings per share were USD 0.04 (9M22: -0.30).
VEF CEO, David Nangle, comments:
“3Q23 delivered a growing number of data points highlighting an ongoing recovery in the investment world that VEF plays within. A better risk/reward balance is showcased by the majority of our companies being cash flow positive, or on a clear path to that destination. Growth is less euphoric, but business models are more robust and sustainable as a result.”
| Dec 31, 2021 | Dec 31, 2022 | Sep 30, 2023 | |
| Net asset value (USD mln) | 761.7 | 381.8 | 422.7 |
| Net asset value (SEK mln) | 6,885 | 3,981 | 4,602 |
| Net asset value per share (USD) | 0.73 | 0.37 | 0.41 |
| Net asset value per share (SEK) | 6.61 | 3.82 | 4.42 |
| VEF AB (publ) share price (SEK) | 6.05 | 2.45 | 2.18 |
Events after the end of the period
On 3 October an Extraordinary General Meeting was held in Stockholm, where the Company’s shareholders approved a new long-term incentive program (LTIP 2023) for key employees. LTIP 2023 is a five-year incentive program with identical terms as LTIP 2022.
Visit VEF’s IR page for our financial reports and other information: vef.vc/investors