Flat Capital AB (publ) ("Flat") publishes its interim report for January-March 2023 where the net asset value per share amounts to 10.01 SEK, which corresponds to a decrease of -7.4% for the quarter. During the period, we have made an investment corresponding to 5.4 MSEK in the AI company DeepL and a divestment of all shares in Global-e which amounted to a final profit of SEK 15.9 million, since Flat's IPO, resulting in a particularly attractive return of approx. 10.4x. Although the market during the period has been characterized by continued uncertainty and nervousness, we see that investment activity has cautiously started and that valuations have stabilized somewhat. We are following the market development with both humility and enthusiasm, where we are prepared with cash and ambition to take advantage of the attractive opportunities that arise
The annual report for 2022 has been published today March 31, 2023, and is now available on our website www.flatcapital.com and as an attached document. You can also read all financial reports on the following link: https://www.flatcapital.com/en/investor-relations/For further information
Flat Capital AB (publ) ("Flat") has divested all its shares in Global-e, with an approx. value of SEK 4.8 million, generating a total profit of SEK 15.9 million for the initial investment in Flow Commerce ("Flow") and a return of approx. 10.4x, corresponding to an annual return (IRR) of +6,800%, since Flat's IPO in 2021
Flat Capital AB (publ) ("Flat") publishes its year-end report for January-December 2022 where the net asset value (NAV) per share corresponds to SEK 10.81, which represents a decrease of -9.6% for the full year or -4.0% for the quarter. This should be seen in the light of the fact that both Flat and the portfolio companies have experienced significant events, both positive and negative, during the year. Due to continued negative developments in the capital markets in H2-2022, it was decided to apply an additional market adjustment of -20% to certain holdings. The market adjustment was applied on the one hand to those holdings that raised capital in Q2-2022, and thus were not adjusted in that period, and on the other hand to those holdings whose comparable listed peers and relevant indices were deemed to exceed the previous market adjustment of -30% applied in H1-2022. Flat now enters the new year with a strong portfolio of entrepreneur-driven companies in leading positions that are well capitalized, capable of taking them to profitability. This, combined with Flat’s own cash position, means that we are well-positioned for the year ahead and we aim to take advantage of the investment opportunities that we are confident will arise in 2023