Correction: Fram Skandinavien AB (publ) publishes monthly NAV report, June 2024 - NAV at 51 SEK per share
The correction refers to an incorrect number regarding market cap as of 30th June in the Monthly Report. The market cap initially reported 96 mSEK. The correct number is 69 mSEK. The corrected figures are reflected in this revised press release and in the attached report.
Significant events during the month
Carmudi continued to reduce its EBITDA losses. June EBITDA loss was approximately -3.5 kUSD, an 80% reduction compared to last year. The company continued to phase out certain car trading transactions that generate GMV but are not EBITDA positive. This will likely have some negative impact on GMV, while render further improvements in EBITDA. It’s the right long-term step for the business, but might hurt NAV short term.
Carmudi's valuation peer group was adjusted to remove some companies with higher multiples, thereby making it more conservative and aligns better with expectations from dialogues with potential acquirers.
EveHR continues to onboard new clients while reducing operating losses. June EBITDA stood at -7.2 kUSD, a ca 65% reduction compared to last year.
