Year-End Report, 2014

2015-02-17

Sustainable value creation in growth companies. Divestment of LeanNova Engineering in Trollhättan

Significant events in the fourth quarter and the full year 2014 

  • In 2014 Fouriertransform invested a total of SEK 201.7 million in five new companies: ÅAC Microtec AB in Uppsala, Pelly AB in Hillerstorp, Osstell AB in Gothenburg, APR Automation AB in Arvika and SMP Parts AB in Ilsbo, as well as SEK 196.6 million in existing portfolio companies.
  • Since inception Fouriertransform has invested a total of SEK 1,366 million in the Swedish automotive and manufacturing industries.
  • The estimated fair value of the existing portfolio, including repaid capital from the portfolio companies, represents an increase in value of around 2 percent of the total capital invested since Fouriertransform was formed. 
  • At an extraordinary shareholders’ meeting on October 17, 2014, a decision was made to reduce Fouriertransform AB’s registered share capital by SEK 275.0 million.
  • The net result for the year after tax amounted to SEK -90.0 million (131.4) including unrealized losses in portfolio companies of SEK -112.0 million (76.5) and investments in securities of SEK 29.1 million (-1.3). 
  • The net result for the quarter after tax was SEK -81.6 million (46.4) including unrealized losses in portfolio companies of SEK -90.9 million (19.1) and in investments in securities of SEK 23.8 million (-1.1). 
  • Cash flow for the year amounted to SEK -17.3 million (42.9) of which investments in new and existing portfolio companies accounted for SEK -398.7 million (-341.8).
  • Cash and bank balances and investments in securities at the end of the year amounted to SEK 1,850 million (2,253).

Significant events after the end of the financial year

  • In February 2015 ÅF AB (publ), a listed company on NASDAQ Stockholm, acquired all of the shares in Fouriertransform’s portfolio company LeanNova Engineering in Trollhättan. Fouriertransform initially invested in the company in January 2012 and the divestment provided a good return on this investment.