- Net asset value was
SEK 195.8 per share compared toSEK 196.6 at the beginning of the year, corresponding to a decrease of 0.4 per cent. - Bure’s net asset value was
SEK 14,521M compared toSEK 13,563M at the beginning of the year. - Total return on the Bure share was -4.2 per cent compared to the SIX Return Index that fell 4.1 per cent.
- Consolidated profit after tax amounted to
SEK 21M (1,273). Earnings per share amounted toSEK 0.3 (18.5).
Second quarter 2020
- Net asset value was
SEK 195.8 per share compared toSEK 146.7 at the beginning of the quarter, corresponding to an increase of 33.5 per cent. - Bure conducted a
SEK 1 billion directed share issue for institutional investors. Following the issue of 5.175 million shares, the total number of shares in Bure amounts to 74.147 million. - Bure acquired 8.5 million shares in
Cavotec forSEK 136.7M , increasing its holding to 36.2 per cent. - Bure acquired 1.2 million shares in
Mentice forSEK 51.7M , increasing its holding to 15.1 per cent. - Bure subscribed its holding equivalent to
SEK 17.5M in Ovzon’s rights issue. - Bure Growth acquired shares in BioLamina’s rights issue for
SEK 13.2M , increasing its holding to 30.6 per cent. - In accordance with the annual general meeting’s decision, an ordinary dividend of
SEK 1.0 per share was paid, with payments totallingSEK 69M .
Subsequent events
- Net asset value amounted to SEK x.x per share on
18 August 2020 , corresponding to an increase of 3.7 per cent since the beginning of the year.
Comments from the CEO
During the second quarter of the year, we faced a global health crisis in which the Covid-19 pandemic affected the world’s economy extremely negatively. Uncertainty related to the market effects of Covid-19 was close to its peak in March and April, which resulted in exceptionally large fluctuations between the two quarters. The fall in Bure’s net asset value in the first quarter -25.4 per cent – was as dramatic as its second quarter recovery, when it jumped 33.5 per cent, equivalent to approximately
During the first six months of the year, growth in Bure’s net asset value per share was marginally negative at -0.4 per cent. In the same period, the Six Return Index fell 4.1 per cent. Several of Bure’s portfolio companies have so far experienced a limited corona effect, but uncertainty remains around the pandemic’s continued development. In those companies that have been impacted, however, we are encouraged to see a cautious recovery. In the most recent quarter, Bure invested around
In June, we conducted a new issue of Bure shares. My role as CEO is to continually attempt to develop Bure and to take advantage of business opportunities we see. Bure has a long history of successfully developing businesses and to ensure our existing management and investment structures have the capacity to expand their operations, we conducted a
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