January – December 2022
- Cash and cash equivalents and short-term investments amounted to SEK 3,425.8 (3,441.4) as at 31 December 2022.
- Operating profit was SEK -15.5 (-7.3).
- Financial income and expenses was SEK 14.7M (0.0).
- Profit after tax was SEK -0.8 (-7.3).
- Earnings per share was SEK -0.02 (-0.27).
October – December 2022
- Operating profit was SEK -5.2 (-2.6).
- Financial income and expenses was SEK 11.4M (0.0).
- Profit after tax was SEK 6.1 (-2.6).
- Earnings per share was SEK 0.18 (-0.07).
CEO comment
2022 was an eventful year on global equity markets. Unlike the positive development in 2021, 2022 will be remembered as one of the worst years for financial markets in two decades. War in Europe, rising interest rates, rampant inflation, sky-high electricity prices, fluctuating currencies and China under lockdown. These headwinds caused the Stockholm stock exchange to fall 22.8 per cent in 2022. However, there was a turnaround in September. The SIX RX rose by 11.3 per cent in the fourth quarter.
The interest rate situation changed markedly during the year. The Riksbank’s main policy rate started the year at zero per cent and ended the year at 2.5 per cent. This offered ACQ the opportunity to obtain a return on its cash and cash equivalents. Having been granted an exemption from the Nasdaq OMX exchange, the majority of ACQ’s liquid assets were moved from a blocked bank account to Swedish government bills. The resulting interest earned effectively covered ACQ’s management costs for the year.
The far-reaching market changes also affected prospects for ACQ. During the year, a number of interesting potential acquisitions were reviewed and discussed. As we look back at 2022, we note that it took time for buyers and sellers to reach agreement when companies’ performance and valuation multiples fluctuate significantly.
Henrik Blomquist
CEO ACQ Bure
For additional information, please contact:
Henrik Blomquist, CEO
+46 (0) 70 824 44 74
henrik.blomquist@acq.se
Johan Hähnel, Investor Relations
+46 (0) 70 605 63 34
johan.hahnel@acq.se