VEF AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024
July 17, 2024 at 02:00 am EDT
Share
VEF AB (publ) reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported net loss was USD 11.21 million compared to net income of USD 68.73 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.07 a year ago.
For the six months, net loss was USD 5.91 million compared to net income of USD 97.17 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.09 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.09 a year ago.
Vef AB (publ) is a Sweden-based investment company. The Company invests in growth stage private fintech companies, take minority stakes and is an active investor with board representation in its portfolio companies. The Company focuses on scale emerging markets and invest across all areas of financial services inclusive of payments, credit, mobile money and wealth advisors. The portfolio consists of such companies as lending company Creditas, digital banking company Konfio, TrnasferGO which conducts digital money transfers, payment company Juspay, Revo offering financing solutions for customers, FinanZero supporting digital marketplace for consumer loans, or Nibo which operates as a software as a service (SaaS) provider.