STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Highlights during the third quarter
- Net asset value amounted to SEK 200.9 bn. (SEK 264 per share) on September 30, 2013, an increase by SEK 18.2 bn., (SEK 24 per share) during the quarter.
- The refinancing of Mölnlycke Health Care was completed. Investor increased its equity in the company by EUR 544 m., of which EUR 225 m. related to our portion of the company’s mezzanine debt. Mölnlycke Health Care now has an all senior debt structure, and leverage corresponds to 2.4x 12-month rolling EBITDA.
- Following approval by competition authorities, Investor’s divestiture of its holding in Gambro was completed. Total proceeds to Investor amount to SEK 10.2 bn., of which SEK 1.6 bn. from EQT. Of the total proceeds of SEK 10.2 bn., SEK 1.2 bn. will remain in escrow for 15 months from the closing date.
- Additional shares in ABB were acquired for SEK 0.7 bn.
- Net asset value amounted to SEK 200,860 m. (SEK 264 per share) on September 30, 2013, compared to SEK 174,698 m. (SEK 230 per share) at year-end 2012, corresponding to a change, with dividend added back, of 18 percent during the nine month period (8). The Stockholm Stock Exchange’s Total Return Index (SIXRX) was 20 percent during the same period (12). Over the past 20 years, annual net asset value growth, with dividend added back, has been 14 percent.
- Consolidated net profit for the period, which includes unrealized change in value, was SEK 30,989 m. (SEK 40.77 per share), compared to SEK 13,339 m. (SEK 17.60 per share) for the same period 2012.
- Core Investments contributed SEK 25,942 m. to net asset value for the period (11,993), of which the listed SEK 25,114 m. (13,289).
- Financial Investments contributed SEK 6,442 m. to net asset value for the period (471).
- Leverage (net debt/total assets) was 9.8 percent as of September 30, 2013 (11.5).
- The total return on the Investor share was 19 percent during the period (18), of which 8 percent during the third quarter (10). The total annual return on the Investor share averaged 13 percent over the past 5-year period, 15 percent over the past 10-year period, and 14 percent over the past 20-year period.
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Investor is the leading owner of high quality Nordic-based international companies, founded by the Wallenberg family a hundred years ago. Through board participation, our industrial experience, network and financial strength, we strive to make our companies best-in-class. Our holdings include Atlas Copco, SEB, ABB, Ericsson and Mölnlycke Health Care.
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