Year-End Report 2012
Highlights during the fourth quarter
- Net asset value amounted to SEK 174.7 bn. (SEK 230 per share) on December 31, 2012, an increase by SEK 11.3 bn., (SEK 15 per share) during the quarter. If Gambro is valued at the transaction value with Baxter, the net asset value would amount to SEK 178.7 bn. (SEK 235 per share).
- Investor and EQT signed an agreement to divest Gambro to Baxter. The positive impact on Investor’s net asset value is estimated at SEK 4.0 bn. and total proceeds at SEK 10.5 bn. As the transaction is expected to be finalized, subject to regulatory approval, late in the second quarter 2013, it has not affected the 2012 figures.
- As previously communicated, SEK 500 m. was injected in equity financing to Aleris. 3 Scandinavia distributed SEK 200 m. to the owners, of which SEK 80 m. to Investor.
- Net cash flow from EQT and Investor Growth Capital totaled SEK 0.3 bn.
- The Board of Directors proposes a dividend to the shareholders of SEK 7.00 per share (6.00).
- Net asset value amounted to SEK 174,698 m. (SEK 230 per share) on December 31, 2012, compared to SEK 156,070 m. (SEK 205 per share) at year-end 2011, corresponding to a change, with dividend added back, of 15 percent (-6). With Gambro valued at the transaction value with Baxter, net asset value increased by 17 percent. The Stockholm Stock Exchange’s Total Return Index (SIXRX) was 16 percent during 2012 (-14). Over the past 20 years, annual net asset value growth, with dividend added back, has been 14 percent.
- Consolidated net profit for the year, which includes unrealized change in value, was SEK 24,175 m. (SEK 31.85 per share), compared to SEK -9,288 m. (SEK -12.14 per share) for 2011.
- Core Investments contributed SEK 22,979 m. to net asset value 2012 (-17,892), of which the listed SEK 23,312 m. (-17,889).
- Financial Investments contributed SEK 591 m. to net asset value 2012 (9,640).
- Leverage (net debt/total assets) was 11.5 percent as of December 31, 2012 (9.8).
- The total return on the Investor share was 38 percent for 2012 (-8), of which 18 percent during the fourth quarter (5). The total annual return on the Investor share averaged 7 percent over the past 5-year period, 17 percent over the past 10-year period and 14 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.