Financial Report for the Fourth Quarter 2016 and the Period January 1, 2016–December 31, 2016Stockholm, 2017-03-15 08:00 CET --
Financial Result
> Net result for 4Q16 was USD 21.4 million (mln) (4Q15: USD 9.2 mln). Earnings per share were USD 0.03 (4Q15: USD 0.04).
> Net result for the twelve-months period was USD 48.7 mln. Earnings per share were USD 0.07.
> The positive net result over the period is primarily driven by the positive share price development in Tinkoff Bank.
Net Asset Value
> The net asset value of Vostok Emerging Finance (“VEF” or the “Company”) was USD 144.3 mln as at December 31, 2016 (December 31, 2015: USD 95.5 mln).
> Net asset value per share was USD 0.22 (December 31, 2015: USD 0.14).
> Based on the period end USD/SEK exchange rate of 9.10 (December 31, 2015: 8.35), it was SEK 1,313 mln (December 31, 2015: SEK 798 mln) and SEK 1.99 per share (December 31, 2015: SEK 1.21 per share), respectively.
Key Events during the Fourth Quarter
> In December 2016, VEF invested an additional USD 1.57 mln in JUMO.
> Tinkoff Bank’s share price recovery continued, +44.5% quarter on quarter (QoQ) to USD 10.55as at end of December. The shares were up 246% to USD 10.55 over the year 2016.
Key Events after the end of the Period
> On January 19, 2017, VEF announced an investment of USD 9 mln into Iyzico, a leading Turkish payment solution provider.
> VEF announced on January 20, 2017, that it had agreed to additionally invest up to USD 5 mln in REVO Technologies and Sorsdata. This is the third investment by VEF into the companies, following on an earlier round in late 2015.
> As at February 28, 2017, VEF’s net asset value was USD 148.2 mln (SEK 1,340.2 mln at a USD/SEK exchange rate of 9.0402), or USD 0.22 per share (SEK 2.03).
The Company will hold a telephone conference with an interactive presentation at 16:00 CET (11:00 a.m. EDT) Wednesday, March 15, 2017. For call-in details, see separate press release issued Friday, March 10, 2017 at www.vostokemergingfinance.com.
For further information please contact:
Björn von Sivers, Investor Relations: +46 (0)8-545 015 50
Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.
Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB.
This information is information that Vostok Emerging Finance Ltd is required to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication on 15 March 2017 at 8.00 CET.
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