Stockholm, Feb. 14, 2018 (GLOBE NEWSWIRE) --
- Net result for the period was USD 161.39 million (mln) (January 1, 2016–December 31, 2016: 135.47). Earnings per share were USD 1.94 (1.77).
- Net result for the quarter was USD 144.96 mln (51.54). Earnings per share for the quarter were USD 1.71 (0.63).
- The net asset value of Vostok New Ventures (“Vostok” or “the Company”) was USD 879.99 mln on December 31, 2017 (December 31, 2016: 725.52), corresponding to USD 10.40 per share (December 31, 2016: 8.47). Given a SEK/USD exchange rate of 8.2322 the values were SEK 7,244.35 mln (December 31, 2016: 6,600.09) and SEK 85.65 (December 31, 2016: 77.02), respectively.
- The group’s net asset value per share in USD increased by 22.79% over the period January 1, 2017–December 31, 2017.
- During the quarter October 1, 2017–December 31, 2017, the group’s net asset value per share in USD increased by 19.82%.
- The main driver of the result for the period and the NAV increase during the quarter October 1, 2017–December 31, 2017 and the period January 1, 2017–December 31, 2017 is a revaluation of Avito which is a result of valuing the company using a refined EV/EBITDA multiple valuation model to better reflect Avito’s EBITDA growth compared to the listed online classifieds peer group.
- In November 2017, Vostok New Ventures finalized a follow-on investment into CarZar in the amount of USD 1.5 mln.
- During the quarter, the Company has repurchased 150,000 shares (SDRs) under the Board of Directors’ repurchase authorization of August 11, 2017.
- The number of outstanding shares (SDRs) at the end of the period was 84,582,357.
- At the end of the period the Company holds 1,105,952 repurchased SDRs.
- After the end of the period, on February 14, 2018, Vostok announced that the Company has received authorization from the Board, valid until December 31, 2018, to repurchase additional SDRs, subject to remaining in compliance with the terms and conditions of the Company’s outstanding bond 2017/2020.
The Company will hold a telephone conference with an interactive presentation at 14:00 CET (08:00 a.m. ET) Wednesday, February 14. For call-in details, see separate press release issued Friday, February 9, at www.vostoknewventures.com.
For further information please contact:
Björn von Sivers, Head of Investor Relations, Tel +46 8 545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.
This information is information that Vostok New Ventures Ltd is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on February 14, 2018.
http://prlibrary-eu.nasdaq.com/Resource/Download/c9eda9f9-ec8f-439a-843b-7e3e3c6bd613
