Lyskær 8A
DK-2730 Herlev https://www.strategic-partners.com CVR No.: 32266355
Strategic Partners A/S (the "Company"), today announces its Interim Report First Half 2025 for the period January 1 - June 30, 2025.
Financial highlights First Half 2025The total comprehensive profit/loss for the first half 2025 was a net loss of DKK 1.2 million compared to a total comprehensive profit of DKK 1.8 million for the same period in 2024.
Operating expenses for the six months ended June 30, 2024 totaled DKK 1.4 million compared to DKK 1.5 million for the same period in 2024.
In January 2025 the Company sold its strategic position in CombiGene AB for a price close to the acquisition cost. The investment in CombiGene AB contributed with a net profit of DKK 0.4 million until the sale in January.
The result from property investments and securities is reported as other income and is realized at a net gain DKK 0.1 million.
The Company is in the final process to liquidate its subsidiaries in US and Switzerland and expect that the liquidation will be finalized in 2025. Following these liquidations, the Company will only consist of the Danish parent company.
Management's review and Business updateIn continuation of the strategy, it is still the Company's wish to continue investing and adding competences in new partnerships in order to create added value for the Company's shareholders, as well as to attract additional capital to the company via capital raisings or the purchase of companies/assets via the issue of new shares in order to gain a greater critical mass.
Risk and uncertaintiesFor information on risks and uncertainties relating to Orphazyme's business please refer to our Statutory Annual Report 2024. Additional risks and uncertainties, including risks that are not known to the Company at present or that its management currently deems immaterial or non-specific to the Company, may also arise or become material or specific to the Company in the future, which could, if such risks were to materialize, have a material and adverse effect on the Company's business, financial condition, and/or results of operations.
Subsequent EventsManagement is not aware of any events subsequent to 30 June 2025 which could be expected to have a significant impact on the group's financial position.
OutlookBased on the first half of the year the company changes its outlook from previously an operating loss in the range of DKK -3 to -4 million to DKK -2 to -3 million .
Forward-looking statements, in particular relating to future activities, operating income and expenses as well as other key financials, are subject to risks and uncertainties. Various factors, many of which lie outside of the Company's control, may cause the realized results to differ materially from the expectations presented in this earnings release.
Condensed Key FiguresDKK (000) | As of and for the six-months ended Jun 30, 2025 | As of and for the six-months ended Jun 30, 2024 | As of and for the year ended Dec 31, 2024 |
Statement of profit or loss | |||
General and administrative expenses | (1,448) | (1,492) | (2,897) |
Other income and expenses | 57 | 3,186 | 2,696 |
Operating profit/(loss) | (1,391) | 1,694 | (201) |
Net financial items | 204 | 154 | (97) |
Total comprehensive income (loss) | (1,187) | 1,848 | (298) |
Profit / (loss) per share, basic (DKK) | (28) | 52 | (8) |
Profit / (loss) per share, diluted (DKK) | (28) | 52 | (8) |
Statement of financial position | |||
Investment property | 3,573 | - | 3,550 |
Cash | 3,222 | 13,973 | 3,886 |
Securities | 12,053 | 3,781 | 16,086 |
Other current assets | 2 | 97 | 36 |
Total assets | 18,850 | 17,850 | 23,558 |
Share capital | 6,257 | 5,297 | 6,257 |
Total equity | 18,061 | 16,089 | 19,248 |
Current liabilities | 789 | 1,761 | 4,310 |
Cash flow statement | |||
Net cash from operating activities | (4,628) | (289) | (3,361) |
Net cash from investing activities | 3,964 | 2,993 | (9,327) |
Net cash from financing activities | - | - | 5,306 |
Other | |||
Share price (DKK) | 1,000 | 968 | 825 |
Total outstanding shares | 41,712 | 35,312 | 41,712 |
Market capitalization (DKK million) | 41.7 | 34.2 | 34.4 |
Equity ratio | 96% | 85% | 82% |
Equity per share (DKK) | 433 | 427 | 461 |
Six months | Six months | Twelve months | |
ended | ended Jun 30, 2024 DKK (000) | ended Dec 31, 2024 DKK (000) | |
Jun 30, 2025 | |||
DKK (000) | |||
General and administrative expenses | (1,448) | (1,492) | (2,897) |
Other income and expenses | 57 | 3,186 | 2,696 |
Operating result | (1,391) | 1,694 | (201) |
Financial items, net | 204 | 154 | (97) |
Total comprehensive income (loss) | 1,187 | 1,848 | (298) |
Profit/(loss) per share, basic | (28) | 52 | (8) |
Profit/(loss) per share, diluted | (28) | 52 | (8) |
Jun 30, 2025 DKK (000) | Jun 30, 2024 DKK (000) | Dec 31, 2024 DKK (000) | |
ASSETS | |||
Fixed assets | |||
Investment property | 3,573 | - | 3,550 |
Total fixed assets | 3,573 | - | 3,550 |
Current assets | |||
Prepayments and other receivables | 2 | 96 | 36 |
Securities and partnerships | 12,053 | 3,781 | 16,086 |
Cash | 3,222 | 13,973 | 3,886 |
Total current assets | 15,277 | 17,850 | 20,008 |
TOTAL ASSETS | 18,850 | 17,850 | 23,558 |
EQUITY & LIABILITIES | |||
Equity | |||
Share capital | 6,257 | 5,297 | 6,257 |
Other reserves | - | 6,987 | - |
Retained earnings | 11,804 | 3,806 | 12,991 |
Total equity | 18,061 | 16,089 | 19,248 |
Current liabilities | |||
Trade payable and accruals | 789 | 1,761 | 4,310 |
Total current liabilities | 789 | 1,761 | 4,310 |
TOTAL EQUITY AND LIABILITIES | 18,850 | 17,850 | 23,558 |
Share capital | Other | Accumulated | Total |
reserves | deficit |
Balance as of Dec 31, 2023 | 12,283 | - | 1,959 | 14,242 |
Capital reduction | (6,986) | 6,986 | - | - |
Net loss for the period | - | - | 1,847 | 1,847 |
Balance as of June 30, 2024 | 5,297 | 6,986 | 3,806 | 16,089 |
Balance as of Dec 31, 2024 | 6,257 | - | 12,991 | 19,248 |
Net profit for the period | - | - | (1,187) | (1,187) |
Balance as of June 30, 2024 | 6,257 | - | 11,804 | 18,061 |
Six months ended Jun 30, 2025 DKK (000) | Six months ended Jun 30, 2024 DKK (000) | |
Operating activities | ||
Operating profit / (loss) | (1,391) | 1,694 |
Investment result, non cash | 46 | 170 |
Change in receivables | 34 | 1,002 |
Change in accruals and other liabilities | (3,521) | (3,309) |
Interest received / (paid), net | 204 | 154 |
Cash flow from operating activities | (4,628) | (289) |
Investing activities | ||
Purchase of securities | - | (2,963) |
Sale of securities | 3,987 | 5,956 |
Investment property | (23) | - |
Cash flow from investment activities | 3,964 | 2,993 |
Changes in cash and cash equivalents | (664) | 2,704 |
Cash balance at beginning of period | 3,886 | 11,269 |
Cash balance at end of period | 3,222 | 13,973 |
Strategic Partners A/S is headquartered in Copenhagen, Denmark and is publicly traded on Nasdaq Copenhagen.
The Company is in the process of the final liquidation of the subsidiaries in US and Switzerland.
There were no material related party transactions during the first half of 2025 other than remuneration to the Executive Management and the Board of Directors.
Basis of preparationThe interim condensed financial statements for the six months ended June 30, 2025 have been prepared in accordance with IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board (IASB) and as adopted by the EU, and additional Danish disclosure requirements for interim reports of companies listed on the Nasdaq Copenhagen.
The interim condensed financial statements do not include all the information and disclosures required in annual financial statements and should be read in conjunction with the Company's latest annual financial statements as of December 31, 2024. These interim condensed financial statements have been prepared in accordance with the going concern assumption.
Updates to the Group's accounting policiesThe accounting policies used in the preparation of the interim condensed financial statements are consistent with those used in the preparation of Strategic Partners A/S's annual financial statements for the year ended December 31, 2024.
The interim financial report has not been reviewed or audited by the Company's independent auditors.
Significant accounting estimates and judgementsThe significant accounting estimates and judgements disclosed in note 1.4 of the financial statements for the year ended December 31, 2024 are still applicable.
NOTE 2 -INVESTMENT IN PARTNERSHIPS AND INVESTMENT PROPERTYIn January 2025 the Company sold the position in CombiGene AB for a price close to the acquisition cost.
The Company is currently investigating different strategic investments.
NOTE 3 - DEFERRED TAX ASSETSThe Company's tax losses can be carried forward infinitely subject to the general rules on limited deductibility due to ownership changes.
For the period ended June 30, 2025, the Company has unrecognized net tax loss carry-forwards in the Danish entity in the amount of DKK 2,212 million which is equal to a deferred tax asset of DKK 487 million as of June 30, 2025.
Statement by the Board of Directors and the Executive ManagementThe Board of Directors and the Executive Management have today reviewed and approved the interim financial report of Strategic Partners A/S for the period January 1 - June 30, 2025. The interim financial report has not been reviewed or audited by the Company's independent auditors.
The interim financial report for the period January 1 - June 30, 2025 has been prepared in accordance with IAS 34 Interim Financial Reporting. The accounting policies used in the interim financial report are consistent with those accounting policies used in Strategic Partners A/S's 2024 Annual Report with the additions described and additional Danish disclosure requirements for interim reports of listed companies.
In our opinion, the interim condensed financial statements give a true and fair view of Strategic Partners A/S's assets, liabilities, and financial position at June 30, 2025 and of the results of its operations and cash flows for the period January 1 - June 30, 2025.
We furthermore consider that the management's review gives a true and fair view of the development in the Group's activities and financial affairs, the profit for the period and the Group's financial position as a whole, as well as a description of the most significant risks and uncertainties to which the Group is subject.
Copenhagen, September 16th, 2025.
Board of DirectorsMichael Hove
Chairman of the Board
Lars Tylvad Andersen Jakob Færch Bendtsen
Executive ManagementJakob Færch Bendtsen
Chief Executive Officer