Interim Report January-March 2013
Highlights during the first quarter
- Net asset value amounted to SEK 191.0 bn. (SEK 251 per share) on March 31, 2013, an increase by SEK 16.3 bn., (SEK 21 per share) during the quarter. With Gambro valued at the transaction value, net asset value would have amounted to SEK 195.1 bn. (SEK 256 per share).
- An agreement was signed to acquire Permobil, a global leader in advanced powered wheelchairs, for an enterprise value of SEK 5.1 bn. Investor will inject SEK 3.7 bn. in equity. The transaction is expected to close during the second quarter.
- On April 15, Investor’s Annual General Meeting decided to pay SEK 7.00 in dividend per share. In total, SEK 5.3 bn. is distributed on April 23.
- Net asset value amounted to SEK 191,030 m. (SEK 251 per share) on March 31, 2013, compared to SEK 174,698 m. (SEK 230 per share) at year-end 2012, corresponding to a change of 9 percent (7). The Stockholm Stock Exchange’s Total Return Index (SIXRX) was 10 percent during the first quarter (11). Over the past 20 years, annual net asset value growth, with dividend added back, has been 14 percent.
- Consolidated net profit for the period, which includes unrealized change in value, was SEK 16,195 m. (SEK 21.29 per share), compared to SEK 10,913 m. (SEK 14.36 per share) for the same period 2012.
- Core Investments contributed SEK 15,837 m. to net asset value for the period (9,779), of which the listed SEK 16,072 m. (9,802).
- Financial Investments contributed SEK 381 m. to net asset value for the period (1,428).
- Leverage (net debt/total assets) was 10.4 percent as of March 31, 2013 (11.5).
- The total return on the Investor share was 11 percent during the first quarter (14). The total annual return on the Investor share averaged 11 percent over the past 5-year period, 18 percent over the past 10-year period and 14 percent over the past 20-year period.
For further information:
Oscar Stege Unger, Head of Corporate Communications, Phone 46 8 614 2059, 46 70 624 2059
Magnus Dalhammar, Investor Relations Manager, Phone 46 8 614 2130, 46 73 524 2130
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Investor is the leading owner of Nordic-based international companies, founded by the Wallenberg family a hundred years ago. We own significant minority or majority interests in high quality companies. Through our participation on the boards of directors, we work for continuous improvement of the performance of the companies. With our industrial experience, network and financial strength we strive to make our companies best-in-class. Our cash flow allows us to support strategic initiatives in our companies, capture investment opportunities and provide our shareholders with a dividend. Our Core Investments include listed holdings Atlas Copco, SEB, ABB, Ericsson and the operating subsidiary Mölnlycke Health Care.