Creade’s third-quarter net asset value return lags index

The net asset value of investment company Creade reached SEK 74 per share as of September 30, compared to SEK 60 per share on the same date last year. The portfolio is dominated by Avanza, which represents 40% of the net asset value.

In the third quarter, the return on net asset value was +2% (-9). The benchmark
OMXSGI recorded a return of +4% (-6) during the quarter.

Operating profit for the third quarter amounted to SEK 178 million (-838).

This figure includes changes in the fair value of investments in portfolio companies, i.e. -895 million SEK (-607).

The profit before and after tax is 182 million SEK (-827).

Earnings per share amounted to SEK 1.34 (-6.09).

The company Spac Creaspac has been delisted. Creades received 522 million Swedish crowns for share buybacks during the third quarter. The company retains the A shares of Creaspac, which is in the process of being liquidated

In the third quarter, Creades participated in a new issuance of Kreditz shares. Creades acquired shares for a total amount of SEK 11.3 million. Creades thus increased its stake in the company to 13.6% (11.5).

– At the end of the third quarter of the year, Creades’ liquidity amounted to SEK 687 million and our liquidity position is therefore very good. We are experiencing a slightly more active market environment, both in the listed and unlisted markets, and we look forward to entering the final quarter of the year with a focus on improving our absolute return and hopefully , on reducing the annoying gap in terms of relative performance compared to the index”, comments John Hedberg, CEO, in the interim report.