East Capital Explorer AB - Year-end Report 2010

  • Net asset value per share on 31 December 2010 amounted to EUR 12.33 (EUR 9.61). The total net asset value amounted to EUR 430m (EUR 341m), corresponding to an increase of 8.0% (5.1%) during the fourth quarter (q-on-q) and an increase of 25.9% (28.8%) since 31 December 2009
  • For the full year, the net profit amounted to EUR 115m (EUR 99m), including EUR 86m (EUR 109m) unrealized value gain on investments. Earnings per share amounted to EUR 2.55 (EUR 2.26). During the fourth quarter, the net profit was EUR 38m (EUR 19m), including EUR 35m (EUR 19m) unrealized value gain on investments. Earnings per share amounted to EUR 0.85 (EUR 0.46)
  • Cash, cash equivalents and other short-term investments on 31 December 2010 amounted to EUR 44m (EUR 88m), corresponding to EUR 1.27 (EUR 2.47) per share
  • In December 2010, East Capital Explorer made a direct investment of EUR 6.8m in Wimm-Bill-Dann Foods, a leading dairy and juice company in Russia. The company is in the process of being acquired by PepsiCo and East Capital Explorer expects to realize a premium of approximately 12% from the average price paid for the shares upon completion of the buyout during the second quarter of 2011
  • The total net asset value on 31 January 2011 amounted to EUR 438m, corresponding to EUR 12.55 (SEK 111) per share. Cash, cash equivalents and other short-term investments per the same date amounted to EUR 44m (SEK 385m) corresponding to EUR 1.25 (SEK 11) per share. EUR 28m (SEK 250m) of those were available for future investments
  • As East Capital Explorer is now fully invested, the Board of Directors has decided to change the dividend policy to start paying dividends, and to propose to the Annual General Meeting a dividend of SEK 0.80 per share for the fiscal year 2010
  • East Capital Explorer has decided to invest an additional EUR 5m in East Capital Bering Balkan Fund. East Capital Explorer will invest in newly issued shares that will be received in the beginning of March 2011

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Source: East Capital Explorer AB via Thomson Reuters ONE