24.04.2014 14:37:00
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Bure Equity: Interim Report January – March 2014
Regulatory News:
Bure Equity AB (STO:BURE)
Interim period January – March 2014
· Net asset value per share was SEK 36.83 at the end of the period, compared to SEK 33.47 at year-end 2013, which is equal to an increase of 9.9 per cent.
· Bure’s net asset value amounted to SEK 2,801M (2,431).
· The Parent Company’s profit after tax was SEK 252M (240).
· The value of the listed associated companies grew by SEK 219M.
· Bure acquired 9.98 per cent of Catella AB (publ), which is listed on NASDAQ OMX Stockholm, for SEK 48.3M.
· Earnings per share in the Parent Company amounted to SEK 3.31 (2.96).
· Total return on the Bure share was 5.8 per cent (5.4). The SIX Return Index has risen by 5.0 per cent.
Subsequent events
· Bure’s net asset value per share was SEK 38.26 at 23 April 2014.
Comments from the CEO
Stock market development remained strong in the first quarter of the year and the SIX Return Index was up by 5 per cent. This is more than double the figure for S&P500 in the USA, which rose by 1.8 per cent over the same period. In other words, the Swedish market has significantly outperformed its American counterpart, which should tone down expectations for the Stockholm stock exchange in a shorter perspective. During the same period, Bure’s net asset value per share grew by 10 per cent. All in all, Bure reports a profit after tax of SEK 252M. The largest contributing factor was value development in the portfolio company Micronic Mydata, which increased by 37 per cent, or SEK 171M, during the quarter. At year-end the Group had changed an important accounting policy. All market listed holdings will now be stated at fair value. In the previous year, a corresponding change was implemented for reporting in the Parent Company. The transition to this accounting policy will result in better conformity between Bure’s profit and loss accounts for the Group and the Parent Company, and will more clearly reflect value development for our listed portfolio companies. In March the portfolio company Xvivo received some very good news. At an advisory panel meeting to discuss Xvivo’s product system with Steen Solution TM, the panel voted unanimously that Xvivo’s products meet the requirements for so-called HDE approval. This is a decisive step in the extremely important process for a final market approval in the USA, which is something the company has been working towards for more than six years. At Bure’s board meeting in February the undersigned was appointed as CEO after a period as acting CEO. I look very much forward to continuing to guide and develop Bure’s operations. We will naturally carry on ”business as usual”, which means an ongoing focus on further developing our existing portfolio companies and finding exciting new and profitable investments.
Henrik Blomquist
CEO
The information in this interim report is subject to the disclosure requirements of Bure Equity AB under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on 24 April 2014, 2.30 p.m. CET.
This information was brought to you by Cision http://news.cision.com
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