Last Thursday, ALM Equity released its Q1 results. Revenues came in 4.3% below expectations, and the company reported a negative gross profit of SEK -7m, compared to our forecast of SEK 30m. Aside from this, the report held no significant surprises: SG&A costs were slightly below expectations, the share of profit from associates was SEK -5m, and unrealized value changes totalled SEK -98m, of which SEK -66m was attributable to Klövern. ARC’s calculated NAV came in at SEK 121 per share, compared t ....
