Interim Report January-March 2010
Highlights during the first quarter • Investor entered into an agreement with BAE Systems, subject to regulatory approvals, to acquire 11.2 m. shares in Saab AB, corresponding to 10.2 percent of the capital, at a price of SEK 95.50 per share, or SEK 1,066 m. in total. Closing is expected in the second quarter. • Within Operating Investments, the merger between Biovitrum and Swedish Orphan International was successfully finalized, with a subsequent strong share price performance. • Investor Growth Capital made several successful exits during the quarter. Within EQT’s funds, a number of previously announced investments were completed. • As previously communicated, Investor’s Board of Directors proposes a dividend per share of SEK 4.00 for 2009 (4.00). Assuming approval on the AGM on April 14, 2010, and adjusted for shares held by Investor, a total of SEK 3,050 m. is expected to be distributed to Investor’s shareholders (3,059). Financial information • Net asset value amounted to SEK 150,316 m. (SEK 197 per share) on March 31, 2010, compared to SEK 142,673 m. (SEK 187 per share) at year-end 2009, corresponding to a change, with dividend added back, of 5 (-2) percent for the first quarter. • Consolidated net profit for the first quarter, including unrealized change in value, was SEK 7,513 m. (SEK 9.85 per share), compared to SEK -3,020 m. (SEK -3.91 per share) for the same period 2009. • Core Investments contributed SEK 6,813 m. to growth in net asset value in the first quarter ( 631). ABB had the largest positive impact, SEK 3,310 m. • Operating Investments contributed SEK 726 m. to net asset value in the first quarter (-283). • Private Equity Investments had an impact on net asset value of SEK -13 m. in the first quarter (-1,382). • The total return on the Investor share was 4 percent in the first quarter ( 11). The total annual return averaged 11 percent over the past 5-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, +46 735 24 2130