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.
The period October-December
The period January-December
Other events during the period
Other events after the end of the period
This text has been translated using DeepL.
Link to the report on the website:
For further information, please contact:
Hanna Wachtmeister, CEO, email@example.com, +46 (0) 70 661 60 05
Antonio Melani, CFO, firstname.lastname@example.org,+46 (0) 72 221 81 32
Augment Partners AB, email@example.com, +46 (0) 8 604 22 55
About Flat Capital:
Flat Capital is an investment company that focuses on growth stage companies with prominent entrepreneurs in leading positions and primarily makes investments through its network of world-class investors and entrepreneurs. The company was founded in 2013 by entrepreneurs Nina and Sebastian Siemiatkowski (founders and CEOs of Milkywire and Klarna, respectively) and is led by CEO Hanna Wachtmeister together with an experienced board of directors. Examples of portfolio companies include Klarna, Instabee and Truecaller. The company aims to provide long-term capital and is essentially a passive minority shareholder, while Flat Capital's experience and network are available to the extent the entrepreneur wishes. The aim is to facilitate successful company building and enable exposure to otherwise hard-to-reach and promising companies. More information is available at www.flatcapital.com
Note: This is a non-official translation of the Swedish original text. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.