-
Net Asset Value (NAV): Down 4% in USD to $575 million, primarily due to a markdown in BlaBlaCar valuation.
-
Investments in Financial Assets: Approximately $650 million or 50 crowns per share.
-
Cash and Cash Equivalents: $11.9 million as of the end of the third quarter.
-
Outstanding Debt and Liabilities: Resulting in a total NAV of $575 million.
-
BlaBlaCar Valuation: Down 20% during the quarter, representing 40% of the NAV.
-
Bond Issuance: New $850 million bond issued to refinance existing debt.
-
Voy Performance: Generated over $13.5 million in adjusted EBITDA year-to-date.
-
Voy Gross Profit Margin: Increased from 31% in 2020 to 57% year-to-date September 2024.
-
Voy EBITDA Margin: 12% year-to-date 2024.
-
Newman Growth: Over 100% year-over-year growth, EBITDA profitable.
-
Breakfast’s Gross Revenue: Strong growth despite Egyptian pound devaluation.
Release Date: October 29, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
-
VNV Global AB (LTS:0A89) has successfully raised approximately $150 million from asset sales, which will be used to pay down debt and achieve a positive net cash position.
-
Several portfolio companies have raised funds at or above their marked values, indicating potential growth and increased valuation.
-
The company has placed a new $850 million bond to refinance existing debt, providing financial flexibility.
-
VNV Global AB (LTS:0A89) reports that three-quarters of its portfolio is EBITDA positive, reflecting strong underlying business performance.
-
The company is seeing increased activity and signs of life in the tech market, suggesting potential future growth opportunities.
-
The net asset value (NAV) per share decreased by 4% in USD terms, primarily due to a 20% markdown in BlaBlaCar’s valuation.
-
BlaBlaCar’s revenue has been negatively impacted by delays in French government approval of energy-saving certificates, affecting short-term financial outlook.
-
The tech market remains challenging, impacting the overall performance and valuation of VNV Global AB (LTS:0A89)’s portfolio.
-
The company’s outstanding debt and liabilities remain significant, affecting overall financial health.
-
There is uncertainty regarding the timeline for the closure of the Get transaction, which is dependent on Australian antitrust approval.
Q: Has BlaBlaCar remained EBITDA positive despite the volatility in energy saving certificates in France? What are the expectations for the new French law regarding these certificates? A: Yes, BlaBlaCar remains EBITDA positive even with the absence of this revenue stream for much of 2024. The new French law is expected to provide more stability and long-term presence for these certificates. The revenue stream is anticipated to return in 2025 at a slightly lower level than in 2023, but with more stability.