Interim Report January-September 2008
Important events during the third quarter
The sale of the Scania shares to Volkswagen was finalized and total proceeds of SEK 16.8 bn. were received.
The acquisition of Lindorff was completed, whereby SEK 3.5 bn. was invested (EUR 374 m.).
Ownership positions were strengthened in Atlas Copco, SEB, Electrolux and Husqvarna through investments totaling SEK 601 m.
The net cash position amounted to SEK 10.8 bn. on September 30, 2008.
The net asset value amounted to SEK 130,228 m. (SEK 170 per share) on September 30, 2008, compared with SEK 155,204 m. (SEK 203 per share) at year-end 2007, corresponding to a change, including dividend paid, of -14 percent for the nine-month period. Total return for the Stockholm Stock exchange (SIXRX) was -27 percent during the same period.
The consolidated net result for the nine-month period, including change in value, was SEK -21,249 m. (SEK -27.76 per share), compared with SEK 18,864 m. (SEK 24.64 per share) for the same period of 2007.
Core Investments had an impact of SEK -18,025 m. on income for the period (14,060). Scania had the most positive impact, SEK 3,295 m. and ABB had the largest negative impact, SEK -8,518 m.
Operating Investments had an effect of SEK -173 m. on income for the period (-432).
Private Equity Investments had an impact of SEK -2,416 m. on income during the period (5,560).
The total return on Investor shares was -10 percent in the first nine months of 2008 (2), of which 0 was in the third quarter (-7). The annual total return averaged 13 percent over the past 20-year period.