East Capital Explorer AB - Year-end Report 2011
(Thomson Reuters ONE) -
* Net asset value per share on 31 December 2011 amounted to EUR 8.69 (EUR
12.33[1]). The total net asset value amounted to EUR 294m (EUR 430m),
corresponding to a change of -7.4% (8.0%) during the fourth quarter
(quarter-on-quarter) and a change of -31.7% (25.9%) since 31 December 2010
* During the fourth quarter, the net result was EUR -25m (profit of EUR 38m),
including EUR -23m (EUR 44m) changes in value on investments. Earnings per
share amounted to EUR -0.61 (EUR 0.85) during the quarter. For the full
year, the net result amounted to EUR -153m (profit of EUR 115m) and earnings
per share amounted to
EUR -3.69 (EUR 2.55)
* Cash, cash equivalents and other short term investments on 31 December 2011
amounted to EUR 39m (EUR 44m)
* During the quarter, East Capital Explorer has continued to buy shares in TEO
LT for an additional EUR 1.3m bringing the total investment during 2011 to
EUR 3.3m. East Capital Explorer currently holds 3.4% of the company's
shares. No further investment was made during the fourth quarter. During
2011, East Capital Explorer made new fund and direct investments amounting
EUR 39.7m. Proceeds from divestments amounted to EUR 45.2m which resulted in
profits of EUR 4.5m over the full investment period
* In September, the board of East Capital Explorer decided to utilize its
authorization to buy-back shares and in October, the board decided to
prolong the share buy-back program until 30 March 2012. During the period
15 September until 31 December, East Capital Explorer repurchased 1,081,554
of its own shares at an average price of SEK 51.54 per share, which
corresponded to 3.1% of the Company's outstanding number of shares
* During December, external valuations were performed for East Capital
Explorer's investments in Melon Fashion Group, Populi, and Trev-2 Group. As
a result, on 31 December 2011 the fair value of the holding in Melon Fashion
Group increased 1.4%, the fair value of Populi was reduced by 94%, and the
fair value of the holding in
Trev-2 Group remained unchanged. The significant reduced value of Populi is
due to the lacking improvement of the earlier announced problems in the
company
* On 15 October, Mia Jurke succeeded Gert Tiivas as CEO of East Capital
Explorer
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[1] Comparable figures for the corresponding period 2010 are stated in
parentheses
ECEX Year-end Report 2011:
http://hugin.info/143006/R/1585686/496748.pdf
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originality of the information contained therein.
Source: East Capital Explorer AB via Thomson Reuters ONE
[HUG#1585686]
Unternehmensinformation / Kurzprofil:
Datum: 15.02.2012 - 07:02 Uhr
Sprache: Deutsch
News-ID 114736
Anzahl Zeichen: 3442
contact information:
Town:
Stockholm
Kategorie:
Business News
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