Interim Management Statement January-March 2021

“Having managed the covid-19 impact well so far, our companies continue to focus on innovation, capturing geographic growth opportunities, accelerating sustainability efforts and maintaining the efficiency improvements that have been achieved during the pandemic. These are all important priorities to further strengthen their competitive positions.”
Johan Forssell, President & CEO of Investor

Highlights during the first quarter

• Adjusted net asset value (NAV) amounted to SEK 636,297m (SEK 831 per share) on March 31, 2021, an increase of SEK 89,912m, or 16 percent, during the quarter. Total shareholder return amounted to 16 percent during the quarter, compared to 14 percent for the SIXRX return index.
• Listed Companies generated a total return of 19 percent. 
• Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to 4 percent (3 percent including cash).
• Sales growth for the major subsidiaries amounted to -5 percent. Organic growth amounted to 1 percent in constant currency. Reported EBITA grew by 26 percent, while adjusted EBITA grew by 14 percent.
• Mölnlycke reported organic sales growth of 14 percent in constant currency. Wound Care grew 5 percent organically in constant currency. Surgical grew 24 percent, positively impacted by personal protective equipment contracts. The EBITA margin improved by 5 percentage points.
• After the end of the quarter, Patricia Industries and its subsidiary Vectura divested Grand Group and the Grand Hôtel property, respectively, to FAM AB. The total transaction value amounts to SEK 3.9bn. Net proceeds from the transaction are approximately SEK 1.5bn.
• The value of our EQT investments increased by 30 percent. Net cash flow to Investor amounted to SEK -1.1bn.
• Leverage was 3.4 percent as of March 31, 2021 (4.1 as of December 31, 2020). Gross cash amounted to SEK 22,761m and the average maturity of Investor AB’s debt portfolio was 10.5 years on March 31, 2021.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability, 
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations, 
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

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 12:00 CET on April 20 2021.

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

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.