Bermuda, Feb. 12, 2020 -
Net asset value (NAV) and financial results for the twelve-month period
Vostok New Ventures’ net asset value was USD 776.98 million (mln) on December 31, 2019 (December 31, 2018: 876.71), corresponding to USD 9.94 per share (December 31, 2018: 10.37). Given a SEK/USD exchange rate of 9.3171 the NAV was SEK 7,239.24 mln (December 31, 2018: 7,864.96) and SEK 92.63 per share (December 31, 2018: 93.01), respectively.
The group’s NAV per share in USD increased by 30.0%, adjusted for the SEK 25 redemption program concluded on March 14, 2019. The portfolio value change is mainly driven by the revaluation of BlaBlaCar, Babylon and VOI.
Net result for the period was USD 163.68 mln (January 1, 2018–December 31, 2018: -4.86). Earnings per share were USD 2.08 (-0.06).
Financial results for the fourth quarter
Net result for the quarter was USD 87.21 mln (-36.14). Earnings per share were USD 1.12 (-0.43).
Key events during the quarter October 1, 2019–December 31, 2019
In November 2019, Vostok New Ventures invested a further USD 30 mln into VOI Technology as part of a larger funding round.
On November 25, 2019, the Company announced that it had carried out a subsequent issue of bonds in an amount of SEK 100 million under the framework of its outstanding bond loan. Following the subsequent issue, the total amount outstanding under the Company’s bond loan is SEK 650 mln.
Share (SDR) info
At the end of the period, the number of outstanding common shares (SDRs), excluding 7,685,303 repurchased SDRs, was 78,150,006. Including the 2,100,000 redeemable common shares issued under the 2019 Long-Term Incentive Program, the total number of outstanding shares amounts to 80,250,006.
Key events after the end of the period
No key events to report.
The Company will hold a telephone conference with an interactive presentation at 17:00 CET (11:00 a.m. ET) Wednesday, February 12. For call-in details, see separate press release issued Monday, February 3, at www.vostoknewventures.com.
For additional information, please contact:
Björn von Sivers, Investor Relations: +46 (0)8-545 015 50
This information is information that Vostok New Ventures Ltd. is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on February 12, 2020.
Vostok New Ventures Ltd is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.
