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VNV Global Q4: NAV slightly down sequentially - SEB

Company-assessed NAV come in at USD 666m, down by 6% in dollar terms q/q (Q3/23: USD 710m) while the reported NAV per share is SEK 51 (SEB estimate NAV per share SEK 40). With no significant investments in the quarter, the change in NAV is mainly driven by fair value changes for listed peers. The portfolio companies seem to be performing well, with the top 10 holdings generating positive EBITDA in aggregate.

Company-assessed NAV come in at USD 666m, down by 6% in dollar terms q/q (Q3/23: USD 710m) while the reported NAV per share is SEK 51 (SEB estimate NAV per share SEK 40). With no significant investments in the quarter, the change in NAV is mainly driven by fair value changes for listed peers. The portfolio companies seem to be performing well, with the top 10 holdings generating positive EBITDA in aggregate.
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