Fram Skandinavien AB (publ) publishes monthly NAV report, August 2024 - NAV at 44 SEK per share

MFN Publicerad: 11 Sep 08:00

Significant events during the month

Despite a 9% yoy decrease in GMV in Aug due to the phase-out of unprofitable car trading transactions compared to Aug 2023, Carmudi continued to reduce its EBITDA losses. In August, the EBITDA loss was less than one thousand USD, representing a 95% reduction compared to same month last year.

EveHR onboarded another new client in the insurance space, Generali, while continuing to reduce operating losses by 60% compared to Aug last year.

Unrestricted cash was reduced primarily due to an FX translation effect from USD/SEK, as the SEK strengthened vs the USD (Fram keeps most of its cash reserves in USD as the VND is pegged to the USD). Restricted cash decreased to 0.1 mSEK due to loan principal re-payment to Dragonlend lenders.

Briefly about Fram^

Fram^ is a listed investment company focused on the digital consumer, blockchain and other tech in Southeast Asia. The management group and board of Fram^ have 100 years of joint experience of company building and investments, both in emerging markets and in Europe. The company management's collective experience from global and regional leaders such as Bonnier, Cevian Capital, Rocket Internet, Ericsson, Lazada and Bima constitutes a multifaceted and necessary foundation for successfully investing in companies in emerging markets and helping them to grow.

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Fram Skandinavien AB (publ) publishes monthly NAV report, August 2024 - NAV at 44 SEK per share

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