Interim Management Statement January-September 2018

Report this content

Highlights during the third quarter

  • Adjusted net asset value, based on estimated market values for the major subsidiaries and partner-owned investments within Patricia Industries, amounted to SEK 420,572 m. (SEK 550 per share) on September 30, 2018. Adjusted net asset value increased by SEK 26,402 m., or 7 percent during the quarter.
  • Reported net asset value amounted to SEK 372,371 m. (SEK 487 per share) on September 30, 2018, an increase of SEK 24,514 m., or 7 percent, during the quarter.
  • Listed Core Investments generated a total return* of 9 percent.
  • Based on estimated market values, the value of Patricia Industries, excluding cash, increased by 2 percent during the quarter.
  • Reported sales growth for the major subsidiaries (including Piab and Sarnova pro forma) amounted to 14 percent, of which 3 percent organic in constant currency. Reported EBITA grew by 13 percent.
  • The value of Investor’s investments in EQT decreased by 2 percent in constant currency. Net cash flow to Investor amounted to SEK 338 m.

Financial information, year to date 2018

  • Adjusted net asset value growth and reported net asset value growth, including dividend added back, amounted to 12 percent and 13 percent, respectively.
  • Contribution to reported net asset value amounted to SEK 36,109 m. (35,504), of which; Listed Core Investments SEK 40,583 m. (43,602), Patricia Industries SEK 4,700 m. (-121) and EQT SEK 2,358 m. (1,774). Investor’s total dividend amounted to SEK 9,178 m.
  • Leverage* (net debt/reported total assets) was 4.9 percent on September 30, 2018 (3.5).
  • Consolidated net sales for the period was SEK 30,510 m. (25,430). Consolidated profit/loss was SEK 42,816 m. (SEK 56.01 basic earnings per share), compared to SEK 45,314 m. (SEK 59.28 basic earnings per share) for the same period 2017.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability: +46 8 614 2058, +46 70 550 3500

Magnus Dalhammar, Head of Investor Relations: +46 8 614 2130, +46 73 524 2130

This information is information that Investor AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:15 CET on October 17 2018.

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family a hundred years ago, is the leading owner of high quality Nordic-based international companies. Through board participation, our industrial experience, network and financial strength, we strive to make our companies best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.