Ascendis Health reports 11.7% increase in net asset value per share

ASCENDIS Health’s tangible net asset value a share increased 11.7% following a strong performance in the medical portfolio complemented by three acquisitions.

- EDWARD WEST

The investment company that distributes a range of health supplements, wellness products and medical devices said Thursday that tangible net asset value increased to 105 cents by the end of the six months to December 31, compared with the same period a year before, which management said reflected a “resilient performance under challenging conditions.”

Ascendis has transitioned from a conglomerate to a decentralised investment holding company, effective from July 1, 2024. This has required it to cease consolidating its subsidiaries (other than those providing services related to Ascendis’ investment activities) and to instead carry such subsidiary investments at fair value.

The changes were not applied retrospectively.

Ascendis’ board said Thursday in a JSE notice that an investment company offers a cost-effective way to align management’s decisions and actions with shareholder interests, by proactively evaluating the return on investment for each business within the group’s portfolio.