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VNV Global Q2: NAV down q/q, but hefty NAV discount remains - SEB

VNV's assessed value of its NAV declined 10% q/q in dollar terms, mostly due to lower assumed valuation multiples, driven by listed peers trading down during the quarter. The NAV discount is currently at 45%, with the NAV per share in SEK terms at SEK 48.6 in Q2. The company comments that, overall, the portfolio companies are operationally performing well. A rather neutral report, in our view.

VNV's assessed value of its NAV declined 10% q/q in dollar terms, mostly due to lower assumed valuation multiples, driven by listed peers trading down during the quarter. The NAV discount is currently at 45%, with the NAV per share in SEK terms at SEK 48.6 in Q2. The company comments that, overall, the portfolio companies are operationally performing well. A rather neutral report, in our view.
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