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VNV Global AB (publ) Financial Report for the Fourth Quarter and the Twelve-Month Period 2022

MAR

Net asset value (NAV) and financial results for the twelve-month period 2022
The VNV Global AB (publ) (“VNV Global”) group’s net asset value was USD 613.43 million (mln) on December 31, 2022 (December 31, 2021: 1,401.13), corresponding to USD 5.34 per share (December 31, 2021: 12.13). Given a SEK/USD exchange rate of 10.4273 the NAV was SEK 6,396.45 mln (December 31, 2021: 12,663.61) and SEK 55.68 per share (December 31, 2021: 109.63), respectively.

The group’s NAV per share in USD decreased by -55.93% and in SEK by -49.16%.

Net result for the period was USD -782.00 mln (January 1, 2021–December 31, 2021: 63.74), mainly driven by value changes in Babylon USD -247.6 mln, Voi USD -142.3 mln and Gett USD -61.9 mln. 

Earnings per share were USD -6.80 (0.61).
 
Financial results for the fourth quarter 2022
Net result for the quarter was USD -77.29 mln (-213.21) mainly driven by value changes in Voi USD -56.7 mln and Babylon USD -16.1 mln.

Earnings per share were USD -0.67 (-1.93).
 
Key events during the quarter October 1, 2022–December 31, 2022
Investments: During the fourth quarter of 2022 VNV Global invested USD 19.9 mln in Babylon.

Babylon: During the quarter, Babylon announced a capital raise of USD 80 mln, of which VNV participated with USD 19.9 mln. This money will together with the proceeds from a planned exit from one of its US assets give the company the funding it needs to reach profitability.

Amendments in bond terms and conditions: The Company received approval from holders of the two outstanding bonds for certain amendments to the Terms and Conditions requested in order to allow VNV to reach a wider investor base for future portfolio investments.
 
Key events after the end of the period
No key events after the end of the period.

The Company will hold a telephone conference with an interactive presentation at 14:00 CET (08:00 a.m. ET) Thursday, January 19, 2023. To register for the conference call and webcast, see separate press release issued Monday, January 9, 2023, at www.vnv.global.

For further information please contact:


Dennis Mohammad, ir@vnv.global, Investor Relations: +46 8 545 015 50

About Us

VNV Global brings together patient capital and network effect businesses to achieve the scale that drives profitability over the long term. We are opportunistic investors in business models that build strong moats. The common shares of VNV Global are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV. For more information on VNV Global, visit www.vnv.global.

This information is information that VNV Global AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-01-19 08:00 CET.

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