Interim Management Statement January-September 2017
Highlights during the third quarter
- Adjusted net asset value*, based on estimated market values for the major wholly-owned subsidiaries and partner-owned investments within Patricia Industries, amounted to SEK 380,140 m. (SEK 497 per share) on September 30, 2017, an increase of SEK 3,404 m., or 1 percent, during the quarter.
- Reported net asset value1)* amounted to SEK 335,581 m. (SEK 439 per share) on September 30, 2017, an increase of SEK 4,343 m. (SEK 6 per share), or 1 percent, during the quarter.
- Listed Core Investments generated a total return* of 2 percent. Shares in Ericsson were purchased for SEK 1,245 m., increasing our ownership to 6.6 percent of the capital and 22.2 percent of the votes.
- Within Patricia Industries, reported sales growth for the major wholly-owned subsidiaries was 7 percent. Organic growth was 3 percent. Mölnlycke distributed EUR 450 m. to Patricia Industries.
- The value of Investor’s investments in EQT increased by 3 percent in constant currency. Net cash flow from EQT amounted to SEK 340 m.
Financial information, year to date 2017
- Adjusted net asset value growth and reported net asset value growth, including dividend added back, amounted to 14 percent and 15 percent respectively.
- Contribution to reported net asset value amounted to SEK 35,504 m. (18,881), of which: Listed Core Investments SEK 43,602 m. (23,595), Patricia Industries SEK -121 m. (2,838), and EQT SEK 1,774 m. (1,392). Dividends paid amounted to SEK 8,411 m.
- Leverage* (net debt/reported total assets) was 3.4 percent on September 30, 2017 (5.3).
- Consolidated net sales for the period was SEK 25,430 m. (22,995). Consolidated profit/loss for the period, which includes unrealized change in value, was SEK 45,314 m. (SEK 59.28 basic earnings per share), compared to SEK 24,485 m. (SEK 32.08 basic earnings per share) for the same period 2016.
For further information:
Stefan Stern, Head of Corporate Relations, Sustainability and Communications, Phone 46 8 614 2058, 46 70 636 7417
Magnus Dalhammar, Head of Investor Relations, Phone 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 2017.
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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.