Tag Archives: Financial report

Annual Report 2015/16

Company announcement no 2 2016/17
Copenhagen, 28 April 2016



Annual Report for the financial year 2015/16
Profit for the financial year 2015/16 came to DKK 102.4m. Equity stood at DKK 620m, corresponding to a book value per share of DKK 14,299.

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 2015/16, which ended on 31 January 2016. The Annual Report contains the following highlights:

  • SPEAS recorded a profit of DKK 102.4m for the financial year 2015/16.
  • Investments in private equity funds generated a return of DKK 108.8m.
  • Investments in private equity funds amount to DKK 588m, or 95% of net assets.
  • During the financial year, SPEAS contributed DKK 31m to the private equity funds in accordance with the investment commitments made.
  • In the same period, the Company received DKK 303m as proceeds from exits, recapitalisations etc.
  • A total dividend of DKK 6,000 per share was distributed during the financial year, corresponding to a total dividend of DKK 260m.
  • 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 620m at 31 January 2016, equal to a book value per share of DKK 14,299.
  • Return on equity was 14.3% 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

Annual Report 2015-16
Key figures 2015-16

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

Interim Report H1 2015/16

Company announcement no 8 2015/16
Copenhagen, 29 September 2015

Interim Report for the period 1 February 2015 – 31 July 2015
Scandinavian Private Equity A/S (SPEAS) recorded a profit for H1 2015/16 of DKK 76.3m. Equity stood at DKK 724m, corresponding to a book value per share of DKK 16,697. Extraordinary dividend of DKK 2,000 per share.

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

  • Investments in private equity funds generated a total return of DKK 79.1m. Less costs incurred of DKK 1.6m, depreciation and amortisation of DKK 1.2m and net financials of DKK 0.1m, net profit for the period came to DKK 76.3m.
  • Investments in private equity funds amounted to DKK 715m, or 99% of net assets.
  • In H1 2015/16, SPEAS contributed DKK 14.5m to the private equity funds under the investment commitments made.
  • In the same period, the Company received DKK 130.0m 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. In the financial period under review, SPEAS distributed total dividend of DKK 130m.
  • The Board of Directors has resolved to distribute extraordinary dividend of DKK 2,000 per share on 6 October 2015, and the SPEAS share will be traded excluding dividend as from Friday 2 October 2015.
  • At 31 July 2015, equity stood at DKK 724m, corresponding to a book value per share of DKK 16,697.
  • Return on equity came to 9.8% in H1 2015/16.
  • Given the Company’s current asset allocation, the Company expects a long-term return on equity of 8-9% 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

2015/16 H1

Interim Report Q1 2015/16

Company announcement no 5 2015/16
Copenhagen, 17 June 2015



Interim Report for the period 1 February 2015 – 30 April 2015
Scandinavian Private Equity A/S (SPEAS) posted a profit for Q1 2015/16 of DKK 52.1m. Equity stood at DKK 832m, corresponding to a book value per share of DKK 19,137 before dividend of DKK 1,500 per share which was distributed on 3 June 2015.

The Board of Directors of SPEAS has today considered and approved the Company’s Interim Report for the period 1 February 2015 – 30 April 2015. The Interim Report contains the following highlights:

  • Investments in private equity funds generated a return of DKK 53.0m. Less costs incurred of DKK 0.7m, depreciation and amortisation of DKK 0.6m and net financials of DKK 0.5m, net profit for the period came to DKK 52.1m.
  • Investments in private equity funds amounted to DKK 745m, or 90% of net assets.
  • In Q1 2015/16 SPEAS contributed DKK 11.2m to the private equity funds under the investment commitments made.
  • In the same period, the Company received DKK 70.1m as proceeds from exits, recapitalisation, etc.
  • Immediately following the Annual General Meeting, the Company distributed dividend of DKK 1,500 per share, equal to a total of DKK 65m excluding dividend on treasury shares. The dividend was distributed on 3 June 2015.
  • Equity stood at DKK 832m at 30 April 2014, corresponding to a book value per share of DKK 19,137 (before distribution of dividend of DKK 1,500 per share).
  • Return on equity came to 6.5% in Q1 2015/2016.
  • Given the Company’s current asset allocation, SPEAS expects a long-term 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 05 150617 Q1 UK

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