Tag Archives: 2014F

Annual Report 2014/15

Company announcement no 2 2015/16
Copenhagen, 28 April 2015



Annual Report for the financial year 2014/15
Profit for the financial year 2014/15 came to DKK 105.3m. Equity stood at DKK 780m, corresponding to a book value per share of DKK 17,939.

The Board of Directors of Scandinavian Private Equity A/S (SPEAS) has today considered and approved the Company’s Annual Report for the financial year 2014/15, which ended on 31 January 2015. The Annual Report contains the following highlights:

  • Investments in private equity funds generated a return of DKK 114.9m. Less costs incurred (DKK 4.0m), depreciation and amortisation (DKK 2.9m) and net financials (DKK 2.5m), net profit for the financial year came to DKK 105.3m.
  • Investments in private equity funds amount to DKK 751m, or 96% of net assets.
  • During the financial year, SPEAS contributed DKK 71m to the private equity funds in accordance with the investment commitments made.
  • In the same period, the Company received DKK 174m as proceeds from exits, recapitalisations etc.
  • A total dividend of DKK 5,700 per share was distributed during the financial year. Including share buybacks, SPEAS distributed a total of DKK 279m to the shareholders.
  • The Board of Directors recommends a dividend distribution of DKK 1,500 per share of a nominal value of DKK 10,000.
  • Equity stood at DKK 780m at 31 January 2015, equal to a book value per share of DKK 17,939 against a quoted price of DKK 17,740 at the same date.
  • Return on equity was 12.0% in the financial year.
  • Given the Company’s current asset allocation, the Company’s return expectations are equivalent to a long-term return on equity of 8-9% pa. The results for the year 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 02 150428 Highlights
2015 02 150428 Annual report

Interim Report Q3 2014/15

Company announcement no 12 2014/15
Copenhagen, 17 December 2014



Interim Report for the period 1 August 2014 – 31 October 2014
Scandinavian Private Equity A/S (SPEAS) recorded a profit for Q3 2014/15 of DKK 42.6m. Equity stood at DKK 828m, corresponding to a book value per share of DKK 18,960. Extraordinary dividend of DKK 1,400 per share.

The Board of Directors of SPEAS has today considered and approved the Company’s Interim Report for the period 1 August 2014 – 31 October 2014. The Interim Report contains the following highlights:

  • Investments in private equity funds generated a return of DKK 44.5m. Less costs incurred of DKK 0.7m, depreciation and amortisation of DKK 0.5m and net financial expenses of DKK 0.6m, net profit for the period came to DKK 42.6m.
  • Investments in private equity funds amounted to DKK 747m, or 90% of net assets.
  • In Q3 2014/15 SPEAS contributed DKK 17.8m to the private equity funds under the investment commitments made.
  • In the same period, the Company received DKK 68.9m as proceeds from exits, recapitalisation, etc.
  • Dividend of DKK 1,500 per share, equal to a total of DKK 66m, was distributed in September.
  • The Board of Directors has resolved to distribute extraordinary dividend of DKK 1,400 per share. Dividend will be distributed on 23 December 2014, and the SPEAS share will be traded excluding dividend as from Friday 19 December 2014.
  • Equity stood at DKK 828m at 31 October 2014, equal to a book value per share of DKK 18,960 against a quoted price of DKK 16,480 as at the same date.
  • In Q3 2014/15 the return on equity was 5.0%, and in the period Q1-Q3 2014/15 the return on equity was 9.8%.
  • Given the Company’s current asset allocation, return expectations are equivalent to a long-term return on equity of 7-8% pa. Based on achieved investment results, forecasts for this financial year now include a return on equity that exceeds the long-term return expectations. 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

2014 12 141217 Q3 UK

Interim Report H1 2014/15

Company announcement no 11 2014/15
Copenhagen, 22 September 2014



Interim Report for the period 1 February 2014 – 31 July 2014
Scandinavian Private Equity A/S (SPEAS) recorded a profit for H1 2014/15 of DKK 46.4m. Equity stood at DKK 860m, corresponding to a book value per share of DKK 19,474. Extraordinary dividend of DKK 1,500 per share to be distributed.

The Board of Directors of SPEAS has today considered and approved the Company’s Interim Report for the period 1 February 2014 – 31 July 2014. The Interim Report contains the following highlights:

  • Investments in private equity funds generated a return of DKK 50.7m. Less costs incurred of DKK 2.1m, depreciation and amortisation of DKK 1.8m and net financial expenses of DKK 0.4m, net profit for the period came to DKK 46.4m.
  • Investments in private equity funds amounted to DKK 754m, or 88% of net assets.
  • In H1 2014/15, SPEAS completed the divestment of its investment commitments to IK VII, which originally amounted to EUR 10m., without impact on net profit.
  • In H1 2014/15 SPEAS contributed DKK 22.7m to the private equity funds under the investment commitments made.
  • In the same period, the Company received DKK 59.7m as proceeds from exits, recapitalisation, the sale of the investment in IK VII, etc.
  • Early June 2014, a dividend of DKK 2,800 per share, equal to a total of DKK 124m, were distributed.
  • The Board of Directors has decided to distribute an extraordinary dividend of DKK 1,500 per share. The dividend is payable on 29 September 2014, and the SPEAS share will trade ex-dividend as of Wednesday 24 September 2014.
  • Equity stood at DKK 860m at 31 July 2014, equal to a book value per share of DKK 19,474 against a quoted price of DKK 18,210 as at the same date. The book value per share increased by 5.2% in the financial period.
  • Given the Company’s current asset allocation, return expectations are equivalent to a long-term return on equity of 7-8% 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

2014 11 140922 H1 UK

Interim Report Q1 2014/15

Company announcement no 7 2014/15
Copenhagen, 18 June 2014



Interim Report for the period 1 February 2014 – 30 April 2014
Scandinavian Private Equity A/S (SPEAS) recorded a profit for Q1 2014/15 of DKK 26.6m. Equity stood at DKK 974m, corresponding to a book value per share of DKK 21,798 before dividend distribution of DKK 2,800 per share.

The Board of Directors of SPEAS has today considered and approved the Company’s Interim Report for the period 1 February 2014 – 30 April 2014. The Interim Report contains the following highlights:

  • Investments in private equity funds generated a return of DKK 28.4m. Less costs incurred of DKK 0.9m, depreciation and amortisation of DKK 1.3m and net financials of DKK 0.4m, net profit for the period came to DKK 26.6m.
  • Investments in private equity funds amounted to DKK 737m, or 76% of net assets.
  • In Q1 2014/15, SPEAS completed the divestment of its investment commitment to IK VII, which originally amounted to EUR 10m. At 31 January 2014, the book value of the investment amounted to DKK 15.3m. The Company’s total uncalled investment commitments were reduced by DKK 58.6m in connection with the divestment.
  • In Q1 2014/15, SPEAS contributed DKK 5.2m to the private equity funds in accordance with the investment commitments made.
  • In the same period, the Company received DKK 36.3m as proceeds from exits, recapitalisations, the sale of the investment in IK VII, etc.
  • SPEAS’s cash amounted to DKK 233m before dividend distribution of DKK 2,800 per share, equal to a total of DKK 124m excluding dividend on treasury shares, which were paid out immediately following the Annual General Meeting held on 26 May 2014.
  • Equity stood at DKK 974m at 30 April 2014, equal to a book value per share of DKK 21,798 (before dividend distribution of DKK 2,800 per share) against a quoted price of DKK 19,000 as at the same date. The book value per share increased by 2.9% in the financial period.
  • Given the Company’s current asset allocation, return expectations are equivalent to a median return on equity of 7-8% 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

2014 07 140618 Q1 UK