Our companies are doing a good job balancing current performance with investments in innovation, particularly related to AI, to secure profitable long-term growth. In an increasingly competitive global environment, long-term success will depend on their ability to innovate faster, invest more effectively and successfully scale new technologies.
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).
Interim Report January-September 2012
Highlights
Net asset value amounted to SEK 163.4 bn. (SEK 215 per share) on September 30, 2012, an increase by SEK 8.5 bn., (SEK 11 per share) during the quarter.
Additional shares were acquired in ABB and Wärtsilä.
Net cash flow to Investor from EQT and Investor Growth Capital totaled SEK 0.9 bn. during the quarter.
Interim Report January-June 2012
Highlights
Net asset value amounted to SEK 154.9 bn. (SEK 204 per share) on June 30, 2012, a decrease by SEK 12.1 bn., (SEK 16 per share) during the quarter.
Investor acquired additional shares in ABB, NASDAQ OMX and Wärtsilä.
Wärtsilä became a new core investment. Investor now owns 8.7 percent of the company.
Investor invested EUR 42 m. in Gambro to support its strategic plan to accelerate growth and improve margins.
Interim Report January-March 2012
Highlights
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.
Annual Report 2011
Year-End Report 2011
Highlights
Net asset value amounted to SEK 156.1 bn., or SEK 205 per share on December 31, 2011, an increase by SEK 12.0 bn., or SEK 16 per share during the quarter.
Investments of SEK 2.1 bn. were made in ABB, Ericsson and Electrolux.
Mölnlycke Health Care surpassed the EUR 1 bn. annual sales mark.
Investor Growth Capital distributed SEK 229 m. to Investor.
The cost savings reducing annual management cost by SEK 140 m. with full run-rate effect by year-end 2012, progressed according to plan.
The Board of Directors proposes a dividend to shareholders of SEK 6.00 per share (5.00).
Interim Report January-September 2011
Highlights
Purchases were made in ABB, Atlas Copco, Electrolux, Husqvarna and NASDAQ OMX for a total of SEK 1.1 bn.
Mölnlycke Health Care continued to generate strong cash flow reducing net debt.
Aleris' integration of recent acquisitions progressed according to plan.
Investor Growth Capital, now stand-alone and with a defined capital commitment, received SEK 1.1 bn. in capital contribution from Investor. The completion of successful exits resulted in a SEK 0.4 bn. distribution to Investor.
Net cash flow from EQT totaled SEK 1.6 bn.
Another EUR 200 m. was raised in debt financing maturing in 2023, further strengthening financial flexibility.
Interim Report January-June 2011
Highlights
Aleris acquired Swedish healthcare provider Proxima and announced the acquisition of Danish private hospital Hamlet. In total, Investor will provide equity financing of approximately SEK 1,020 m., of which SEK 769 m. has been provided during the second quarter.
Investor participated with its pro rata share, SEK 258 m., in Sobi's new rights issue. Additional net purchases totaling SEK 99 m. were made in Husqvarna.
The divestment of CaridianBCT was finalized, resulting in a positive revaluation of Investor's holding in Gambro Holding of SEK 4.6 bn., including the investment in EQT IV. As a consequence, Gambro Holding's debt was reduced to SEK 7.8 bn. from SEK 23.6 bn.
EQT funds contributed SEK 2.0 bn. to net asset value, driven by several successful exits.
As previously communicated, Investor Growth Capital is a stand-alone entity with a defined capital commitment from Investor as of July 1.
The restructuring and cost reduction programs, sharpening Investor's strategic focus and reducing annual expenses by SEK 140 m., with full effect as of year-end 2012, are progressing according to plan.
Interim Report January-March 2011
Annual Report 2010
Year-End Report 2010
Highlights
The Board of Directors proposes a dividend to shareholders of SEK 5.00 per share (4.00).
The acquisition of shares in Mölnlycke Health Care was finalized, and the company is now a consolidated operating subsidiary. The reported value of Investor’s 96 percent holding is SEK 13.4 bn., including the SEK 2.4 bn. positive revaluation of the existing holding.
Investor invested SEK 0.5 bn. in 3 million additional shares in Electrolux.
Investor announced the acquisition of shares in NASDAQ OMX for USD 176 m. After receiving approval on January 17, the 9.7 percent holding (including existing holdings) will be reported within Operating Investments. The holding in the financial investment Elekta was divested for SEK 1.6 bn., generating a capital gain, including dividends, of SEK 1 bn.
Interim Report January-September 2010
Highlights
The acquisition and consolidation of Aleris for a gross investment of SEK 2.5 bn. (SEK 1.7 bn. adjusted for the share already owned through the investment in EQT) added another company with attractive potential to Investor. With full ownership of the company, Investor has the possibility to pursue strategic and long-term value creating initiatives.
Investor announced the purchase of an additional 34 percent of the equity in Mölnlycke Health Care for approximately EUR 510 m. Following regulatory approval, expected during the fourth quarter, Investor will own 96 percent of the company, thereby consolidating the entity.
Investor Growth Capital holdings ChinaCache and China ITS were priced for IPOs and subsequently listed on the NASDAQ and Hong Kong Stock Exchange respectively.
Interim Report January-June 2010
Highlights
Add-on investments were made in Atlas Copco and Husqvarna. The previously announced acquisition of 10 percent of the capital in Saab AB from BAE Systems for SEK 1.1 bn., was completed.
Our holdings in Operating Investments maintained their solid momentum. The development was particularly strong in Mölnlycke Health Care, 3 Scandinavia and Lindorff.
Dividend of SEK 3.0 bn. was distributed to shareholders during the quarter.
After the end of the quarter, Investor acquired healthcare and care service provider Aleris from EQT for an enterprise value of SEK 4.4 bn. Investor's net investment is SEK 1.7 bn. The transaction is not closed, thus Aleris is not yet included in Operating Investments.
Interim Report January-March 2010
Highlights
Investor entered into an agreement with BAE Systems, subject to regulatory approvals, to acquire 11.2 m. shares in Saab AB, corresponding to 10.2 percent of the capital, at a price of SEK 95.50 per share, or SEK 1,066 m. in total. Closing is expected in the second quarter.
Within Operating Investments, the merger between Biovitrum and Swedish Orphan International was successfully finalized, with a subsequent strong share price performance.
Investor Growth Capital made several successful exits during the quarter. Within EQT's funds, a number of previously announced investments were completed.
As previously communicated, Investor's Board of Directors proposes a dividend per share of SEK 4.00 for 2009 (4.00). Assuming approval on the AGM on April 14, 2010, and adjusted for shares held by Investor, a total of SEK 3,050 m. is expected to be distributed to Investor's shareholders (3,059).
Annual Report 2009
Year-End Report 2009
Highlights
Biovitrum and Swedish Orphan announced the merger between the two companies, creating a leading specialty pharma company. The transaction was finalized on January 14, 2010, and Investor holds 41 percent in the combined listed company.
Strong earnings momentum continued during the fourth quarter for Mölnlycke Health Care, Gambro, CaridianBCT and 3 Scandinavia.
The Board of Directors proposes a dividend to shareholders of SEK 4.00 per share (4.00).
Interim Report January-September 2009
Highlights
Gambro, CaridianBCT and Mölnlycke Health Care showed strong operational momentum. 3 Scandinavia turned EBIT positive for the month of August.
The financial position remained strong with a net cash position of SEK 1.1 bn. on September 30, 2009.
Interim Report January-June 2009
Highlights
3 Scandinavia continued to report healthy growth and the Swedish operation reached EBIT breakeven for the month of June.
No significant new investments were made during the quarter.
The financial position remained strong with a net cash position of SEK 1.8 bn. on June 30, 2009.
Interim Report January-March 2009
Highlights
Investor subscribed to the pro-rata shares in the successful rights issues in SEB and Husqvarna. Investor invested a total SEK 3,617 m. in Core investments during the quarter.
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