Regulatory press release

VNV Global AB (publ) Financial Report for the Second Quarter and the First Six Months 2024

2024-07-18 08:00

VNV Global

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Net asset value: SEK 6.37 bn

NAV per share: SEK 48.61

NAV change, period (in SEK): -4.83%

NAV change, quarter (in SEK): -10.42%

Net asset value (NAV) and financial results for the six-month period 2024

The VNV Global AB (publ) (“VNV Global”) group’s net asset value was USD 600.03 million (mln) on June 30, 2024 (December 31, 2023: 666.29), corresponding to USD 4.58 per share (December 31, 2023: 5.09). Given a SEK/USD exchange rate of 10.6114 the NAV was SEK 6,367.19 mln (December 31, 2023: 6,690.60) and SEK 48.61 per share (December 31, 2023: 51.08), respectively.

The group’s NAV per share in USD decreased by -9.94% and in SEK by -4.83% during the period. During the quarter, the NAV per share in USD decreased by -10.01% and in SEK by -10.42%.

Net result for the period was USD -66.32 mln (January 1, 2023–June 30, 2023: 82.02), mainly derived from negative revaluations of Voi, BlaBlaCar and Gett.

Earnings per share were USD -0.51 (0.69).

Financial results for the second quarter 2024

Net result for the quarter was USD -66.76 mln (-1.87), mainly derived from negative revaluations of BlaBlaCar, Gett and HousingAnywhere.

Earnings per share were USD -0.51 (-0.02).

Key events during the quarter April 1, 2024–June 30, 2024

Gett: On May 9, 2024, the Company announced that it had entered into an agreement to fully exit its investment in Gett to Pango Pay & Go Ltd. for a total net consideration for VNV Global’s interest in Gett (adjusted for expected transaction costs and other minor purchase price adjustments at closing) of USD 83 mln.

Bond 2021/2024: On the maturity date on June 24, 2024 VNV Global redeemed the remaining outstanding nominal amount of SEK 306.2 mln of its 2021/2024 bond.

Share repurchase authorisation: On May 16, 2024, VNV Global announced that the Company’s Board of Directors had resolved, by virtue of authorisation by the annual general meeting on May 15, 2024, to repurchase ordinary shares in the Company.

Key events after the end of the period

No significant events after the period.

The Company will hold a telephone conference with an interactive presentation at 16:00 CEST (10:00 a.m. EDT) Thursday, July 18, 2024. To register for the conference call and webcast, see separate press release issued Wednesday, July 10, 2024, at www.vnv.global.