- Net asset value: SEK 6.39 bn
- NAV per share: SEK 48.82
- NAV change, period (in SEK): -4.43%
- NAV change, quarter (in SEK): 10.16%
Net asset value (NAV) and financial results for the twelve-month period 2024
The VNV Global AB (publ) ("VNV Global" or the "Company") group's net asset value was USD 581.39 million (mln) on December 31, 2024 (December 31, 2023: 666.29), corresponding to USD 4.44 per share (December 31, 2023: 5.09). Given a SEK/USD exchange rate of 10.9982 the NAV was SEK 6,394.24 mln (December 31, 2023: 6,690.60) and SEK 48.82 per share (December 31, 2023: 51.08), respectively.
The group's NAV per share in USD decreased by -12.74% and in SEK by -4.43% during the period. During the quarter, the NAV per share in USD increased by 1.20% and in SEK by 10.16%.
Net result for the period was USD -85.14 mln (January 1, 2023-December 31, 2023: 22.43), primarily due to negative revaluations of BlaBlaCar, Gett and HousingAnywhere, as well as a positive revaluation of Numan.
Earnings per share were USD -0.65 (0.18).
Financial results for the fourth quarter 2024
Net result for the quarter was USD 6.80 mln (-44.29), primarily due to a negative revaluation of BlaBlaCar, as well as positive revaluations of Voi and Numan.
Earnings per share were USD 0.05 (-0.34).
Key events during the quarter October 1, 2024-December 31, 2024
Bond loans: On September 19, 2024, VNV Global announced that the Company had successfully placed a new 3-year senior unsecured bond with an initial amount of SEK 850 mln within a framework of SEK 1,250 million (ISIN: SE0022761011). The Company also gave conditional notice of early redemption of its outstanding bond series 2022/2025 (ISIN SE0017483019). The early redemption of the outstanding 2022/2025 bond occured on October 31, 2024.
On October 11, 2024, VNV Global's portfolio company Voi announced that it had successfully placed EUR 50 mln of senior secured bonds, carrying a four-year tenor and a floating rate interest of 3 months EURIBOR plus 6.75% per annum. Voi will use the net proceeds from the bond issue to scale its current e-scooter and e-bike fleets, refinance its existing debt, and for general corporate purposes.
On November 29, 2024, the Company provided an update on the ongoing sale of Gett. Following the most recent interaction with the Israel Competition Authority (ICA), which is currently reviewing the transaction, VNV Global expects the closing to take place in Q1 2025, subject to the ICA completing its review.
During the quarter, VNV Global strengthened its cash balance with approx. USD 10 mln following exits in a number of the Company's smaller holdings.
Key events after the end of the period
No significant events after the period.
The Company will hold a telephone conference with an interactive presentation at 15:00 CET (09:00 a.m. ET) Thursday, January 30, 2025. To register for the conference call and webcast, see separate press release issued Wednesday, January 22, 2025, at www.vnv.global
For further information please contact:
Björn von Sivers, CFO
Telephone: +46 8 545 015 50
Email: bjorn@vnv.global
About Us
VNV Global brings together patient capital and network effect businesses to achieve the scale that drives profitability over the long term. We are opportunistic investors in business models that build strong moats. The common shares of VNV Global are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV. For more information on VNV Global, visit www.vnv.global.
This information is information that VNV Global AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-01-30 08:00 CET.
