Bure Equity (BURE) Q3 2024 earnings summary

Executive summary

• Net asset value per share rose 35.8% to SEK 350.3 from SEK 257.9 at the start of the year, reaching a record high.

• Total return on the Bure share was 45.1% for the period, outperforming the SIX Return Index's 15.2%.

• Group earnings after tax for January–September were SEK 7,025M, up from SEK 1,776M year-over-year.

• Strong performance was driven by listed holdings, especially Vitrolife, Xvivo, and Yubico, which exceeded market expectations.

• Major acquisitions included 14.5% of Mentimeter for SEK 531M and a majority stake in FIRST Fondene AS via Atle.

Financial highlights

• Net asset value at period end: SEK 25,976M, up from SEK 19,123M at the start of the year.

• Earnings per share for the nine months: SEK 94.8, up from SEK 23.9 year-over-year.

• Group equity ratio remained at 100%.

• Cash and cash equivalents at period end: SEK 543M.

• Net loan receivable: SEK 906M at group level.

Outlook and guidance

• Portfolio companies continue to perform strongly despite challenging market conditions in Europe and the US.

• Management maintains a long-term focus on profitable growth and strategic execution.