Today: November 20, 2018, 6:45 am
  
Business

Interim Report January 1 – September 30 2018

PR-Inside.com: 2018-11-09 08:01:01

Stockholm, Nov. 09, 2018 (GLOBE NEWSWIRE) --

Financial result

  • Net result for the nine-months period was USD 7.34 mln (9M17: 42.16 mln). Earnings per share were USD 0.01 (9M17: 0.06).
  • The positive net result over the nine-months period is primarily driven by the mark up in valuation of iyzico, TransferGo and FinanZero.
  • Net result for 3Q18 was USD -13.59 million (mln) (3Q17: USD 27.48 mln). Earnings per share were USD -0.02 (3Q17: USD 0.04).
     
  • The negative net result for the third quarter was mainly driven by the revaluation of Guiabolso following a mark to model valuation and the share price development in Vostok Emerging Finance only listed company, Tinkoff Bank.

Net asset value

  • The net asset value (NAV) of VEF was USD 204.90 mln as at September 30, 2018 (December 31, 2017: USD 198.56 mln), which is an increase by 3.2% in USD over the nine-months period 2018.
  • Net asset value per share was USD 0.32 (December 31, 2017: USD 0.30).
  • Based on the period end USD/SEK exchange rate of 8.86 (December 31, 2017: 8.23), net asset value was SEK 1,815 mln (December 31, 2017: SEK 1,635 mln) and SEK 2.79 per share (December 31, 2017: SEK 2.47 per share), respectively.

Key events during the third quarter

  • On July 9, Finja closed a new funding round, in which VEF invested an additional USD 1 mln.
  • On July 17, VEF extended a convertible loan note to REVO/Sorsdata in the amount of USD 2.13 mln.
  • On August 24, Jumo closed a funding round in which VEF invested an additional USD 3.05 mln.
  • On September 3, VEF invested an additional 0.70 mln in Magnetis.
  • Tinkoff paid a dividend of USD 0.24 per share on September 24, amounting to USD 0.48 mln
  • During the period, VEF sold 365k shares in TCS Group Holding PLC, at a value of in total USD 7.08 mln.
  • During the period, VEF repurchased 10,276,139 Swedish Depository Receipts (SDRs) in the Company.

Key events after the end of the period

  • Tinkoff paid a dividend of USD 0.24 per share on October 1, amounting to USD 0.18 mln
  • During October VEF sold 370k shares in TCS Group Holding PLC, at a value of in total USD 6.16 mln.

The Company will hold a telephone conference with an interactive presentation at 15:00 CET (09:00 a.m. EDT) Friday, November 9, 2018. For call-in details, see separate press release issued Friday, November 2, 2018 at www.vostokemergingfinance.com.

For further information please contact:
Henrik Stenlund, CFO: +46 (0) 8-545 015 50

Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.

Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB.

This information is information that Vostok Emerging Finance Ltd is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication at 08:00 CET on November 9, 2018.


Attachment




# 645 Words
Related Articles
More From The Author
Bavarian Nordic Announces Interim Results for the [..]
COPENHAGEN, Denmark, November 9, 2018 - Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announced today its interim financial results [..]
Odfjell SE 3Q18: Chemical tanker market remained [..]
Odfjell SE today reported its results for Third Quarter 2018. The results reflect a stable chemical tanker market and stable [..]
ImageWare CEO Jim Miller Talks About UK [..]
NEW YORK, Nov. 09, 2018 (GLOBE NEWSWIRE) -- ImageWare® Systems, Inc., a leader in mobile and cloud-based two-factor, multi-factor, and [..]
Fortuna reports consolidated financial results for the [..]
(All amounts expressed in US dollars, unless otherwise stated) VANCOUVER, British Columbia, Nov. 08, 2018 (GLOBE NEWSWIRE) -- [..]
WillScot Corporation Announces Third Quarter 2018 Results
BALTIMORE, Nov. 08, 2018 (GLOBE NEWSWIRE) -- WillScot Corporation (“WillScot” or the "Company") (NASDAQ: WSC) today announced [..]
 
More From Business
Best Essential Oil Diffusers on the Market
19 November 2018 – Got Oil Supplies offers a wide variety of aromatherapy diffusers that you can choose from, depending [..]
UK Business Energy – Best Spot to [..]
London, United Kingdom – 19BNovember 2018 – UK Business Energy offers an excellent opportunity to compare all energy tariffs [..]
The Greatest Biosoft Gels From Cancer by [..]
17th November 2018 - Purtier Placenta provides interesting products for everyone. If you are ready to start your experience with [..]
Get Flavors for Your Electronic Cigarette from [..]
17th November 2018 - Vapeshack provides great services for those who are ready to pay for comfort. Are you a [..]
The Very Efficient Instagram Boosting Services from [..]
17th November 2018 - Social Result is a very user friendly and informative platform, for those who are ready to [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.