Bure Equity AB

Latest Results (13.08.2026):

Bure Equity AB — fourth quarter (Q4) 2024 (and full‑year 2024) summary: Bure reports net asset value (NAV) of SEK 333.0 per share (SEK 24,689M) at 31 Dec 2024, a 29.1% increase in NAV per share for 2024. Group earnings after tax were SEK 5,735M (vs SEK 4,749M), and earnings per share were SEK 77.4 (64.0). NAV fell 5.0% during Q4 2024 (from SEK 350.3 to SEK 333.0) but rose to SEK 353.6 per share on 19 Feb 2025 (post‑period). The listed portfolio drove most of the value growth; several portfolio companies (notably Mycronic and Yubico) contributed strongly to the NAV increase.

Net asset value (NAV)

NAV at 31 Dec 2024: SEK 333.0 per share / SEK 24,689M (up from SEK 257.9 per share at 1 Jan 2024). NAV change during 2024: +29.1% per share. Q4 2024 NAV movement: -5.0% during the quarter. Post‑period NAV (19 Feb 2025): SEK 353.6 per share (+6.2% since 31 Dec 2024).

Earnings and EPS

Group earnings after tax for full year 2024: SEK 5,735M (2023: SEK 4,749M). Earnings per share (basic): SEK 77.4 (2023: SEK 64.0).

Portfolio value drivers

Listed holdings accounted for 85.6% of NAV. Fair‑value/market movements in listed companies added SEK ~5,795M in value during 2024. Largest individual value increases reported include Mycronic (value change SEK +2,533M) and Yubico (shares + warrants value change SEK +2,061M). Xvivo, Vitrolife and Cavotec also contributed positively; Mentice showed a negative revaluation.

Key portfolio company developments

Highlights called out in the report: Yubico continued strong growth (sales +27% in 2024) and substantial share‑price appreciation; Mycronic delivered a record year (sales +24%, EBIT > SEK 2bn); Xvivo reported organic sales growth ~38% and development progress; Vitrolife improved EBITDA margin to 34.0% and reported stronger sales.

Transactions and investments

Material moves in 2024: Bure acquired 14.5% of Mentimeter for SEK 531M and acquired 700,000 Cavotec shares for SEK 12M. Atle (Bure’s subsidiary) made several investments (e.g., 66% of First Fondene AS, 21.6% of Amaron Holding) and conditional shareholder contributions; Bure Growth signed a SEK 17M convertible to BioLamina.

Dividends and capital return

Dividends received by the group in 2024: SEK 208M. The Board proposes an ordinary dividend of SEK 2.75 per share for 2024 (proposed at the AGM).

Treasury, liquidity and balance‑sheet items

Treasury assets fell by SEK 812M to SEK 738M (3.0% of NAV vs 8.1% at end‑2023). Cash and short‑term investments and other treasury assets were reduced after acquisitions and investments. Group interest‑bearing receivables and liabilities remain limited (net receivable position reported).

Significant impairments / write‑downs

Bure made an unconditional shareholder contribution of SEK 45M to Mercuri and subsequently wrote down the Mercuri holding by SEK 79M to zero; Bure also increased a promissory‑note loan to Mercuri by SEK 13M. Other write‑downs and revaluations are reported at the portfolio level.

Relative performance

Bure’s total return for 2024: 34.5% (SIX Return Index: +8.6%). Share price indicators in the report show meaningful outperformance of several portfolio companies versus index.

Governance & post‑period note

The Board proposes the 2024 ordinary dividend of SEK 2.75 per share. Management also notes the NAV update to SEK 353.6 per share on 19 Feb 2025 (post‑period). For detailed line‑by‑line financials, portfolio composition and multi‑year tables see the company report pages referenced in the filing.