Investment Spiltan (SPLTN) Q2 2024 earnings summary

Executive summary

• Substantial decline in net asset value (NAV) with a return of -11.93% for Jan–Jun 2024, underperforming the SIX RX index at 10.56% for the same period.

• NAV per share fell to SEK 258 at June 30 from SEK 294 at year-end; market value per share at SEK 197.

• Net result for the period was -1,129 MSEK, mainly due to a significant drop in Paradox Interactive's share price.

• Solid equity ratio of 99% maintained.

• Transitioned to daily trading on NGM Main Regulated Equity in May, marking a new phase for the company.

Financial highlights

• Net result Jan–Jun: -1,129 MSEK (previous year: 1,459 MSEK); EPS: -36.36 SEK (46.98 SEK).

• NAV per share: SEK 258.24 (June 30, 2024) vs. SEK 294.41 (Dec 31, 2023).

• Market value: 6,118 MSEK (June 30, 2024) vs. 6,740 MSEK (Dec 31, 2023).

• Cash flow from operations: 136 MSEK; negative cash flow for the period: -38 MSEK.

• Dividend of SEK 1 per share paid.

Outlook and guidance

• Management remains optimistic about long-term prospects, especially in core holdings like Paradox and Spiltan Fonder.

• Ongoing focus on acquiring and developing both listed and unlisted Swedish growth companies.