Scandinavian Private Equity A/S : Annual Report for the financial year 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