Interim report January – March 2017

First quarter 2017

  • Net asset value per share at 31 March 2017 was SEK 101.81, compared to SEK 101.74 at the end of the previous year, which represents an increase of 0.1 per cent.
  • Bure’s net asset value was SEK 7,059M, compared to SEK 7,054M at year-end 2016.
  • Total return on the Bure share was -5.3 per cent, compared to the SIX Return Index which rose by 6.5 per cent.
  • Consolidated profi t after tax was SEK 13M (-75). Earnings per share amounted to SEK 0.19 (-1.09).
  • Bure Growth acquired 19.75 per cent of the digital security company Yubico AB. 

 Subsequent events

  • Net asset value per share at 26 April 2017 was SEK 105.88, which corresponds to an increase of 4.1 per cent since year-end 2016.

It is undeniably an interesting and dynamic time to be an investor and a shareholder. Unforeseen events continue to push the gobal markets in unexpected directions. Furthermore, in the past quarter leading economic indicators have fuelled hopes for higher global growth. Among other things, this caused the S&P 500 to note new all-time highs and the Stockholm Stock Exchange to rise by over 6 per cent. However, Bure’s net asset value was unchanged during the quarter at the same time that total return amounted to -5.3 per cent. 

But new conditions create new opportunities. In March we invested via Bure Growth in the security company Yubico. Entrepreneurs Stina and Jacob Ehrensvärd have built up an impressive position in a global market where they now have nine of the world’s ten largest Internet companies as customers. With an ambition to make the Internet secure, Yubico has developed a single key login solution that provides secure access to fi les, applications and more sophisticated online services. Existing solutions, based on usernames and passwords, are relatively easy to break though. This is a threat to personal security and online identities, and thereby limits the areas of use. Being able to protect your personal identity on the Internet is a decisive factor for ongoing innovation and development. 

As always, the actual making of a new investment represents just a fraction of the process. The real task together with the companies’ employees, board of directors and shareholder partners will be to succeed in achieving the established targets. In Yubico, we believe there is good potential for this and I would be very proud if Bure could contribute to helping Yubico realize its vision to create a global standard for secure identification on the Internet.

Henrik Blomquist

For additional information contact:
Henrik Blomquist, CEO +46 (0)8 – 614 00 20
Max Jonson, CFO +46 (0)8 – 614 00 20

The information in this interim report is subject to the disclosure requirements of Bure Equity AB under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on 27 April 2017, 8:30 a.m. CEST.

The full report (PDF)