Q4 2024 VNV Global AB (publ) Earnings Call Transcript
Key Points
- VNV Global AB (FRA:82K) reported a 10% increase in Swedish crowns for the year, indicating positive currency effects.
- The company has successfully moved into a net cash state, reducing its debt to $77 million.
- Void, a major portfolio company, achieved a 26% uplift in valuation due to a shift to a forward-looking EBITA-based model.
- Newman, another portfolio company, reported over 130% revenue growth year-over-year and is profitable.
- VNV Global AB (FRA:82K) anticipates a 25% revenue growth for its portfolio in 2025, with higher profit margins expected.
- The overall net asset value per share decreased by 1% in dollar terms during the quarter.
- Blah Blah Car, a significant holding, experienced a 9% decrease in valuation due to political volatility in France affecting income streams.
- The acquisition of Get by Pango is delayed due to antitrust approval issues in Israel.
- The company's debt, although reduced, still stands at $77 million.
- The regulatory environment for Void remains challenging, with ongoing tender processes in various cities.
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We start with a summary of the developments during the quarter, following by an overview of the more meaningful portfolio constituents. After that, we will open up for Q&A. And as a reminder, if you want to ask a question, please use the Q&A function here on the Zoom, and we'll try to address it towards the end.
With that. I'll hand over to Per. Please go ahead.
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Thanks, Bjoern. So we kick off with this usual, you've seen this in the report, and it is up like a percent in dollar terms to $580 million, which in Swedish crowns is just under SEK49. That's up 10% of the Swedish crowns for the year. We're down a bit over like 13%, just under 13%, which follows down like 5% the year before. And that's all negative, but it feels still like a consolidation period after that monstrous drop in 2022 to start the
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