Interim Report Q3 2015/16

Company announcement no 10 2015/16
Copenhagen, 14 December 2015

Interim Report for the period 1 August 2015 – 31 October 2015
Scandinavian Private Equity A/S (SPEAS) posted a loss for Q3 2015/16 of DKK 3.8m. Equity stood at DKK 633m, corresponding to a book value per share of DKK 14,610. Extraordinary dividend of DKK 1,000 per share.

The Board of Directors of SPEAS has today considered and approved the Company’s Interim Report for the period 1 August 2015 – 31 October 2015. The Interim Report contains the following highlights:

  • SPEAS recorded a loss of DKK 3.8m for Q3 2015/16 and a profit of DKK 72.5m for the period Q1-Q3 2015/16.
  • Investments in private equity funds resulted in a total negative return of DKK 0.9m in Q3 2015/16 and a return of DKK 78.1m in the period Q1-Q3 2015/16.
  • Investments in private equity funds amounted to DKK 626m, or 99% of net assets.
  • In Q3 2015/16 SPEAS contributed DKK 3.1m to the private equity funds under the investment commitments made.
  • In the same period, the Company received DKK 90.9m as proceeds from exits, recapitalisations, etc.
  • Ordinary dividend of DKK 1,500 per share was distributed on 3 June 2015, and extraordinary dividend of DKK 1,500 per share was distributed on 31 July 2015 and DKK 2,000 per share on 6 October 2015. Since the beginning of the financial year, SPEAS has distributed total dividend of DKK 217m.
  • The Board of Directors has resolved to distribute extraordinary dividend of DKK 1,000 per share. Dividend will be distributed on 21 December 2015, and the SPEAS share will be traded excluding dividend as from Thursday 17 December 2015.
  • At 31 October 2015, equity stood at DKK 633m, corresponding to a book value per share of DKK 14,610.
  • SPEAS recorded a negative return on equity of 0.6% in Q3 2015/16 and a return on equity of 9.8% in the period Q1-Q3 2015/16.
  • Based on achieved investment results, forecasts for this financial year still include a return on equity that exceeds the long-term expectations of a return on equity of 8-9% pa. Full-year results will depend on the development in financial markets.

For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30

2015/16 Q3