Business
Final Results
Final Results.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n \nRNS Number : 3214J Aurora Russia Limited 15 July 2013 \n \n\n \n \n 15 July 2013\n \n \nAurora Russia Limited (\"Aurora Russia\" or the \"Company\")\n \n \nResults for the twelve months ended 31 March 2013\n \n \n· The Board and the Manager continue to focus on ensuring optimal exits from the investee companies\n \n \n \n \n \nFinancial highlights \n \n· Net asset value per share for the Company as at 31 March 2013 of 54.4p per share (Net asset value £61.2m) down from 66.8p per share at 31 March 2012 (Net asset value £75.1m)\n· The movement in the value of the portfolio companies principally reflects the lower valuation of comparable companies following a period of weakness in the Russian equity markets \n· Cash and cash equivalents at 31 March 2013 were £23.1 million\n \nPortfolio highlights \n \nOSG\n· OSG was sold to Elbrus Capital, a Russian private equity fund in March this year for a total enterprise value of up to $60.8 million.\n· The purchase price was based on projected 31 March 2013 year-end EBITDA of $6.3 million and net debt of $13.0 million.\n \n \nUnistream Bank\n· Revenues for the twelve months ended 31 December 2012 were RUR 155 bn, up 13% YoY\n· EBITDA of RUR189m for 2012, up 9% YoY\n· Unistream's share in the Russia-outbound transfer market is estimated at 13% as at Q1 2013\n· Equity valuation of Aurora Russia's stake in Unistream at 31 March 2013 was £12m, compared to the valuation at 31 March 2012 of £16.3m\n \n \nSuperstroy\n· Revenues grew by 29% YoY for the twelve months ended 31 December 2012 to RUR9.5bn \n· EBITDA, before non-recurring costs, of RUR376m for 2012, up 128% YoY\n· Equity valuation of Aurora Russia's stake in Superstroy at 31 March 2013 was £10.4m, compared to the valuation at 31 March 2012 of £15.0m\n \n \nFlexinvest \n· Revenues grew by 254% YoY for the...