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Year-End Report 2018

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Highlights during the fourth quarter

  • Adjusted net asset value amounted to SEK 372,004 m. (SEK 486 per share) on December 31, 2018, a decrease of SEK 48,566 m., or 12 percent during the quarter.
  • Reported net asset value amounted to SEK 327,508 m. (SEK 428 per share) on December 31, 2018, a decrease of SEK 44,863 m., or 12 percent, during the quarter.
  • Listed Core Investments generated a total return of -15 percent. Shares in Electrolux were purchased for a net SEK 518 m. SEK 1,844 m. was invested in Saab’s rights issue.
  • Based on estimated market values, the value of Patricia Industries, excluding cash, decreased by 3 percent during the quarter.
  • Pro forma sales growth for the major subsidiaries amounted to 16 percent, of which 5 percent organic in constant currency. Mölnlycke’s organic sales growth amounted to 6 percent in constant currency. Excluding Aleris, which is undergoing a major restructuring, EBITA grew by 18 percent. Distributions to Patricia Industries totaled SEK 2.8 bn.
  • The value of Investor’s investments in EQT increased by 14 percent in constant currency, positively impacted by EQT AB-related transactions.
  • The Board of Directors proposes a dividend per share of SEK 13.00 (12.00), to be paid in two installments, SEK 9.00 per share in May 2019, and SEK 4.00 per share in November, 2019.

Financial information, 2018

  • Adjusted net asset value growth and reported net asset value growth, including dividend added back, amounted to -1 percent and 0 percent, respectively.
  • Contribution to reported net asset value amounted to SEK -8,755 m. (36,185), of which; Listed Core Investments SEK -6,398 m. (42,636), Patricia Industries SEK 4,510 m. (766) and EQT SEK 4,868 m. (3,144). Investor’s total dividend paid amounted to SEK 9,179 m.
  • Leverage* (net debt/reported total assets) was 6.1 percent on December 31, 2018 (3.5).
  • Consolidated net sales for the year was SEK 42,492 m. (34,381). Consolidated profit/loss was SEK -2,299 m. (SEK -2.94 basic earnings per share), compared to SEK 44,298 m. (SEK 57.96 basic earnings per share) 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 January 24 2019.

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.

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