Fastator: Putting money to use - ABG

Företagsparken grows despite macro headwinds
Q3 NAV decline largely explains estimate cuts
Share trading at ~45% discount to rep. NAV


Q3 development for the three main holdings

Despite a positive result (~SEK 6m), NAV in Företagsparken fell by 8% q-o-q, driven by a deduction for deferred tax and external valuation that was represented as a part of Fastator’s SEK 186m loss from associated companies and joint ventures. Nothing new from Point was highlighted in the quarter, and both income from property management and Fastator’s earnings capacity were in line with the previous quarter. The value of Fastator’s holding in STUDBO, which is directly connected to the STUDBO share price, fell by 12% q-o-q, but aggregated NAV rose in Q3 as Fastator increased its ownership from ~21% to 25%.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/fastator/Equity-research/