Fram Skandinavien AB (publ) publishes interim report April - June 2022Summary of the quarter
The portfolio value amounts to over SEK 300 million for the first time. As of August 15, the net asset value amounted to SEK 314 million (SEK 87 per share), which is approx. 153% above the closing price of the FRAMB share on the same day and represents an increase of +17% compared to the previous quarter. Carmudi accounts for the largest increase in net asset value from the previous quarter (+32%), but also the groups first investments in listed Southeast Asian tech companies (Sea group and Grab holdings) have had satisfactory development since the initial investment during the quarter (+21% and +33% respectively) ). The net asset value has been taken in line with IFRS 13 - Fair Value Measurement and the International Private Equity and Venture Capital Valuation Guidelines ("IPEV"), based on historically reported figures and confirmed market valuations.
The groups turnover nearly triples (+186%) during the quarter and the EBIT margin improves significantly. The groups net sales increased by +186% to SEK 26,999 thousand, compared to the corresponding period last year. Turnover within Digital Brands more than tripled and grew by +224%. The EBIT margin also improved significantly and amounted to -8% during the quarter, compared to -34% during the same period in 2021.
The divestment of the IT Development business area is completed as of mid-July. As of 31 July, the groups cash amounted to approx. 36 MSEK, in parallel with new investments in listed Southeast Asian tech companies and that the groups indebtedness has been reduced by approx. SEK 8 million.
The report in its entirety is available on Fram ^s website investors.fram.asia and attached to this press release.
This information is such that Fram Skandinavien AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation (EU nr 596/2014). The information was provided, through the agency of the below contact person, at the time stated in this press release, by Bequoted. ---
For further information, please contact
Christopher Beselin, board member & acting CEO
Phone: + 84-34-71273 14
Email: [email protected]
Son Ngo, Finance Director
Phone: + 84-91-8157680
Email: [email protected]
Certified Adviser
Svensk Kapitalmarknadsgranskning AB (SKMG), +46 11 32 30 732, [email protected]
The following documents can be retrieved from beQuoted
Fram-Skandinavien-AB-publ-publishes-interim-report-April-.pdf
Fram-Skandinavien-AB-publ 2022-Q2-vf.pdf ---
Briefly about Fram ^
Fram^ is a listed investment company focused on the digital consumer, blockchain and other tech in Southeast Asia. The management group and board of Fram^ have over 75 years of joint experience of company building and investments, primarily in emerging markets. The company managements collective experience from global and regional leaders such as Kinnevik, Cevian Capital, Boston Consulting Group, Rocket Internet, Ericsson, Lazada and Bima constitutes a multifaceted and necessary foundation for successfully investing in companies in emerging markets.
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