Adjusted net asset value (NAV) amounted to SEK 673,250m (SEK 220 per share) on December 31, 2022, an increase of SEK 46,958m, or 7 percent, including dividend added back, during the quarter. Total shareholder return
amounted to 16 percent, compared to 11 percent for the SIXRX return index. For 2022, adjusted net asset value growth amounted to -10 percent and total shareholder return to -15 percent, compared to -23 percent for SIXRX.
Listed Companies generated a total return of 12 percent.
Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to -4 percent (-4 percent including cash), negatively impacted by multiple contraction and currency effects.
Within Patricia Industries, sales growth for the major subsidiaries amounted to 32 percent, of which 11 percent organically in constant currency. Adjusted EBITA grew by 34 percent.
Mölnlycke reported organic sales growth of 9 percent in constant currency. The EBITA margin declined by 3 percentage points, negatively impacted by a reorganization of the structure of Customer Care and production
disturbances in the US Wound Care manufacturing plant. Mölnlycke distributed EUR 300m to Patricia Industries.
The value change of Investments in EQT was 2 percent. Net cash flow to Investor amounted to SEK 1,426m.
Leverage was 1.5 percent as of December 31, 2022 (1.9 percent as of December 31, 2021). Gross cash amounted to SEK 28,533m and the average maturity of Investor AB’s debt portfolio was 11.8 years on December 31, 2022.
The Board of Directors proposes a dividend per share of SEK 4.40 (4.00) to be paid in two installments, SEK 3.30 in May, 2023 and SEK 1.10 in November, 2023.

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Proposed Dividend

Annual Report 2022

Investor B