Ambient Sound Investments OU (ASI), investment company of Estonian co-founders of Skype, finished the year 2012 with a profit of 8.5 million euros, according to the consolidated annual report.
ASI, company of Skype's Estonian co-founders, swings to profit in 2012
30th August 2013, 15:15
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In 2011, the company made a loss of 1.9 million euros.
ASI had total assets of 94.7 million euros at the end of 2012, 8.5 percent less than at the end of 2011. All the investments had been made using the company's 89 million euro equity capital and ASI as parent company had no borrowings.
ASI earned 10 million euros from revaluation of investments, 1.3 million euros in dividends and 2.4 million euros in sales revenue. An important transaction in the venture capital portfolio of ASI in 2012 was the sale of Modesat Communications to the U.S. company Xilinx Inc.
The ASI venture capital portfolio consisted of investments in 23 companies at year-end. The ASI venture capital team evaluated 332 investment opportunities during the year.
ASI paid out 1.2 million euros to owners in dividend and intends to do the same this year.
Labor costs increased from 1.2 million euros to 2.2 million euros while the number of employees declined from 49 to 31. The labor costs include options awarded to employees in the total amount of one million euros that can be realized during three years.
ASI is owned by Priit Kasesalu, Jaan Tallinn, Ahti Heinla and Toivo Annus in equal portions.