East Capital Explorer AB - Interim Report 1 January - 30 September 2010

  • Net asset value per share on 30 September 2010 amounted to EUR 11.42 (EUR 9.15). The total net asset value amounted to EUR 398m (EUR 325m), corresponding to an increase of 3.8% (11.2%) during the third quarter (q-on-q) and an increase of 16.6% (22.5%) since year end. Since 30 September 2009 the net asset value increased 22.6%, year-on-year (-2.0%)
  • For the first nine months, the net profit amounted to EUR 77m (EUR 80m), including EUR 50m (EUR 90m) unrealized value gain on investments. Earnings per share amounted to EUR 1.70 (EUR 1.80)
  • Cash, cash equivalents and other short-term investments on 30 September 2010 amounted to EUR 89m (EUR 97m), corresponding to EUR 2.55 (EUR 2.72) per share
  • In September 2010, East Capital Explorer announced an investment of EUR 35m in East Capital Special Opportunities Fund II. East Capital Explorer invested in newly issued shares which were received in the beginning of October
  • Also in September 2010, East Capital Explorer announced a direct investment of EUR 3.7m in a Georgian food retailer, Populi. The initial investment was made as a bridge loan awaiting the issue of new shares that we received in the end of October
  • In October 2010, East Capital Explorer announced a direct investment of EUR 12m in newly issued shares in the Macedonian bank, Komercijalna Banka Skopje. The transaction is subject to regulatory approval
  • The total net asset value on 31 October 2010 amounted to EUR 398m, corresponding to EUR 11.43 (SEK 106) per share. Cash, cash equivalents and other short-term investments per the same date amounted to EUR 52m (SEK 487m) corresponding to EUR 1.50 (SEK 14) per share. EUR 36m (SEK 335m) of those were available for future investments
  • As East Capital Explorer is now fully invested, the company is entering a new phase in its development. The Board has decided to make a proposal regarding dividends when full year results are published

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Source: East Capital Explorer AB via Thomson Reuters ONE