19.10.2016 08:19:00
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Investor: Interim Management Statement January-September 2016
Regulatory News:
Investor AB (STO:INVEA) (STO:INVEB) (LSE:INU)
Highlights during the third quarter
· Net asset value*1) amounted to SEK 290,683 m. (SEK 380 per share) on September 30, 2016, an increase of SEK 31,600 m. (SEK 41 per share) during the quarter, corresponding to a change of 12 percent. Over the past 20 years, annual average net asset value growth, with dividend added back, has been 10 percent.
· Listed Core Investments generated a total return* of 14 percent. Additional shares in Wärtsilä were purchased for SEK 106 m., increasing our ownership to 17.7 percent.
· The value of Investor’s investments in EQT was unchanged in constant currency. Net cash flow from EQT amounted to SEK 199 m.
· Patricia Industries completed the acquisition of medical technology company LABORIE. Including a capital contribution and transaction costs, Patricia Industries invested USD 650 m. for 97 percent ownership. All subsidiaries grew organically, but overall somewhat slower than during the first half of the year. Cash flow generation was strong.
Financial information, year to date 2016
· Listed Core Investments contributed SEK 23,595 m. to the growth of net asset value (-2,630).
· EQT contributed SEK 1,392 m. to the growth of net asset value (2,787).
· Patricia Industries contributed SEK 2,838 m. to the growth of net asset value (3,411).
· Leverage* (net debt/total assets) was 6.7 percent as of September 30, 2016 (5.5).
· Consolidated net sales for the period was SEK 22,995 m. (18,119).
· Consolidated profit/loss for the period, which includes unrealized change in value, was SEK 24,485 m. (SEK 32.08 basic earnings per share), compared to SEK 2,718 m. (SEK 3.57 basic earnings per share) for the same period 2015.
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 08:15 CET on October 19, 2016.
Our press releases can be accessed at www.investorab.com 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, Atlas Copco, SEB, ABB, Ericsson and Mölnlycke Health Care.
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