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Interim Report January-March 2012

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Highlights during the first quarter

  • Net asset value amounted to SEK 167.0 bn. (SEK 220 per share) on March 31, 2012, an increase by SEK 10.9 bn., (SEK 15 per share) during the quarter.
  • Investor acquired EUR 183 m. of Mölnlycke Health Care’s mezzanine debt.
  • SEK 300 m. was contributed in equity financing to Aleris in order to strengthen its capital structure to finance recent acquisitions and to enable further growth.
  • On April 24, Investor announced that it has accumulated 6.4 percent in Wärtsilä for a total consideration of EUR 317 m. The average acquisition price adjusted for dividends is EUR 24.9 per share. Investor and current main owner Fiskars will merge their respective ownership interests in Wärtsilä in a joint company. Wärtsilä will be a new core investment.
  • Investor received a net distribution of SEK 1.4 bn. from EQT. Investor Growth Capital’s distribution was SEK 257 m., excluding the final cash contribution of SEK 750 m. from Investor.
  • On April 17, Investor’s Annual General Meeting approved the proposed SEK 6.00 dividend per share. In total, SEK 4,563 m. will be distributed in the second quarter.

Financial information

  • Net asset value amounted to SEK 167,008 m. (SEK 220 per share) on March 31, 2012, compared to SEK 156,070 m. (SEK 205 per share) at year-end 2011, corresponding to a change of 7 percent for the first quarter (0). Over the past 20 years, annual net asset value growth, with dividend added back, has been 13 percent.
  • Consolidated net profit for the period, including unrealized change in value, was SEK 10,913 m. (SEK 14.36 per share), compared to SEK 346 m. for the same period 2011 (SEK 0.51 per share).
  • Core Investments contributed SEK 9,784 m. to net asset value for the period (-1,028), of which Listed SEK 9,802 m. (-786).
  • Financial Investments contributed SEK 1,423 m. to net asset value for the period (1,514).
  • Leverage (net debt/total assets) was 10.2 percent as of March 31, 2012 (9.8).
  • The total return on the Investor share was 14 percent during the first quarter (6). The Stockholm Stock Exchange’s Total Return Index (SIXRX) was 11 percent (-1). The total annual return averaged 0 percent over the past 5-year period, 6 percent over the past 10-year period and 12 percent over the past 20-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 73 524 2130

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

Investor is the leading owner of Nordic-based international companies, founded by the Wallenberg family a hundred years ago. We own significant minority or majority interests in high quality companies. Through our participation on the boards of directors, we work for continuous improvement of the performance of the companies. With our industrial experience, network and financial strength we strive to make our companies best-in-class. Our cash flow allows us to support strategic initiatives in our companies, capture investment opportunities and provide our shareholders with a dividend. Our Core Investments include listed holdings Atlas Copco, ABB, SEB, Ericsson and the operating subsidiary Mölnlycke Health Care.

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