Vostok New Ventures Ltd. Financial Report for the Fourth Quarter and Twelve Months Period 2017
14 February 2018 - 6:00PM
Vostok New Ventures Ltd. Financial Report for the Fourth Quarter
and Twelve Months Period 2017
- 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
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