Sweden's Fram Skandinavien Q2 NAV per share falls 7% sequentially
Sweden's Fram Skandinavien Q2 NAV per share falls 7% sequentially
Overview
Sweden-based investment company's Q2 net asset value per share fell 7% from previous quarter
Revenue rose 34% yr/yr in SEK terms, despite currency headwinds
Group reported accounting loss, mainly due to Carmudi dealer receivables provision
Outlook
Company did not provide specific guidance or outlook for future quarters or the full year
Result Drivers
CARMUDI PROVISION - Large provision for overdue dealer receivables in Carmudi led to significant accounting loss
CURRENCY IMPACT - Revenue growth in constant currency was 51% yr/yr, but SEK revenue growth was 34% due to weaker SEK/VND exchange rate
MEDIA REVENUES - Profit before provision improved from last year, driven by increased media revenues
Company press release: ID:nMFN7Q1HbX
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Asset Value |
| SEK 30.80 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)