WebRock Ventures

Financial result
The period January – June 2024 (January – June 2023)

• Operating profit amounted to SEK -157,3 million (-13,4), whereof change in value of financial assets amounted to SEK -147,3 million (-6,1)
• Investments during the period amounted to SEK 26,1 million (9,1)
• Net profit amounted to SEK -157,3 million (-13,4)
• Profit per share amounted to SEK -7,7 (-0,8)

Net asset value

• Net Asset Value (NAV) of SEK 488,2 million on June 30, 2024, a decrease of 22.0% compared to SEK 625,9 million on March 31, 2024. This decline is attributed primarily to the Cardo Health-Vibe transaction.
• NAV per share of SEK 23,1 on June 30, 2024 compared to SEK 29,6 on March 31, 2024.
• Portfolio value of SEK 460,6 million, cash and cash equivalents of SEK 18,3 million, and other net assets of SEK 9,3 million on June 30, 2024.

Extract from Joakim Pops CEO letter:

‘’The successful closure of a SEK 76,8 million private placement, culminating in our debut on the Nasdaq First North Growth Market on February 5, 2024, marked the beginning of a transformative year for Webrock. In the second quarter, we embarked on the next phase of our journey, leveraging our strong position to focus entirely on performance and executing our strategy.

Within our portfolio, we announced that Webrock participated in a share exchange, redeeming our shares in Cardo Health for shares in its Brazilian partner company, Vivabem Brasil (Vibe). This move not only underscores our confidence in Vibe’s potential but also leverages our deep knowledge, strong presence, and valuable synergies in the Brazilian market, allowing us to effectively support Vibe’s continued development. Integrating Vibe into our portfolio aligns with our long-term value creation strategy, demonstrating our commitment to our vision and focus on the Brazilian market.

Since 2022, Vibe has focused on utilizing cutting-edge AI to enhance user engagement in mental self-care. Looking ahead, Vibe will continue rolling out Vivi, its innovative AI-driven mental health and wellness platform. In response to strong demand for affordable self-care solutions for employees, Vibe strategically shifted from a primarily B2C offering to targeting B2B customers. With a robust user base and a talented leadership team, we are excited about scaling Vivi and confident it will usher in a new era of growth for Vibe.

Elsewhere, Brazil Finance Group (BFG) completed a SEK 35 million new issue, and Qred secured SEK 54 million to bolster new loan origination efforts. Additionally, FinanZero successfully conducted a SEK 10 million convertible loan offering, enabling it to execute its plan to reach break-even by the end of the year.’’

This and previous financial reports are available on the Company's website at https://webrockventures.com/financial-reports/