Fram Skandinavien AB (publ) publishes monthly NAV report November 2022 - NAV reaches 74 SEK per share
Significant events during the month
As of November 30, the net asset value amounted to SEK 268 million (SEK 74 per share), which is approx. 81% above the closing price of the FRAM B share on the same day and represents a decrease of -10% compared to last October.
Over the recent past, majority of tech investors have rapidly shifted from focusing solely on growth, to now putting primary focus on profitability or path to profitability. In this current environment and in order to maximize Carmudi’s long term value, Fram deems it necessary to rapidly refocus Carmudi’s development path towards positive unit economics rather than growth. With this in mind, Fram expects Carmudi’s growth to slow down temporarily over the near term as focus shifts towards strengthening its path to profitability (in order to make it an attractive future investment opportunity for external investors). For the sake of prudence, Fram has consequently also increased the applied discount vs. peer multiples from 20% to 40% for Carmudi. The discount might be reset back to the lower level again at a later stage.
Fram did additional funding to EveHR and Dragonlend with respectively 0.6 mSEK and 2 mSEK last month.