Bure Equity (BURE) Q4 2024 earnings summary

Executive summary

• Net asset value per share increased 29.1% year-over-year to SEK 333.0, with total net asset value at SEK 24,689M, outperforming the SIX Return Index's 8.6% rise.

• Group earnings after tax reached SEK 5,735M, up from SEK 4,749M, and EPS was SEK 77.4 compared to SEK 64.0 last year.

• Strong value growth in Yubico and Mycronic drove performance; Yubico's share price rose 85% and Mycronic's 39%.

• Portfolio companies Vitrolife and Xvivo reported accelerating sales and margin improvements.

• Board proposes an ordinary dividend of SEK 2.75 per share, up from SEK 2.5.

Financial highlights

• Total return on Bure share was 34.5% for the year.

• Group equity at year-end was SEK 24,688M, with an equity/assets ratio of 100%.

• Net loan receivable at year-end was SEK 675M, down from SEK 1,496M.

• Cash and cash equivalents plus short-term investments totaled SEK 738M, representing 3.0% of net asset value.

• Treasury assets decreased by SEK 812M during the year.

Outlook and guidance

• Net asset value per share increased to SEK 353.6 as of February 19, 2025, up 6.2% since year-end.

• CEO notes uncertainty in global markets due to US policy changes but expresses confidence in portfolio company leadership.