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.
Investor AB's 2018 Annual Report now available online
Year-End Report 2018
Highlights
Adjusted net asset value amounted to SEK 372,004 m. (SEK 486 per share) on December 31, 2018, a decrease of SEK 48,566 m., or 12 percent during the quarter.
Reported net asset value amounted to SEK 327,508 m. (SEK 428 per share) on December 31, 2018, a decrease of SEK 44,863 m., or 12 percent, during the quarter.
Listed Core Investments generated a total return of -15 percent. Shares in Electrolux were purchased for a net SEK 518 m. SEK 1,844 m. was invested in Saab’s rights issue.
Based on estimated market values, the value of Patricia Industries, excluding cash, decreased by 3 percent during the quarter.
Pro forma sales growth for the major subsidiaries amounted to 16 percent, of which 5 percent organic in constant currency. Mölnlycke’s organic sales growth amounted to 6 percent in constant currency. Excluding Aleris, which is undergoing a major restructuring, EBITA grew by 18 percent. Distributions to Patricia Industries totaled SEK 2.8 bn.
The value of Investor’s investments in EQT increased by 14 percent in constant currency, positively impacted by EQT AB-related transactions.
The Board of Directors proposes a dividend per share of SEK 13.00 (12.00), to be paid in two installments, SEK 9.00 per share in May 2019, and SEK 4.00 per share in November, 2019.
Adjusted net asset value, based on estimated market values for the major subsidiaries and partner-owned investments within Patricia Industries, amounted to SEK 420,572 m. (SEK 550 per share) on September 30, 2018. Adjusted net asset value increased by SEK 26,402 m., or 7 percent during the quarter.
Reported net asset value amounted to SEK 372,371 m. (SEK 487 per share) on September 30, 2018, an increase of SEK 24,514 m., or 7 percent, during the quarter.
Listed Core Investments generated a total return* of 9 percent.
Based on estimated market values, the value of Patricia Industries, excluding cash, increased by 2 percent during the quarter.
Reported sales growth for the major subsidiaries (including Piab and Sarnova pro forma) amounted to 14 percent, of which 3 percent organic in constant currency. Reported EBITA grew by 13 percent.
The value of Investor’s investments in EQT decreased by 2 percent in constant currency. Net cash flow to Investor amounted to SEK 338 m.
Interim Report January-June 2018
Highlights
Adjusted net asset value, based on estimated market values for the major subsidiaries and partner-owned investments within Patricia Industries, amounted to SEK 394,169 m. (SEK 515 per share) on June 30, 2018. Adjusted for Investor’s dividend, adjusted net asset value increased by SEK 20,320 m., or 5 percent during the quarter.
Reported net asset value amounted to SEK 347,858 m. (SEK 455 per share) on June 30, 2018. Adjusted for Investor’s dividend, reported net asset value increased by SEK 14,461 m., or 4 percent.
Listed Core Investments generated a total return of 4 percent. Epiroc became a new listed core investment following the spin-off from Atlas Copco.
Within Patricia Industries, organic sales growth for the major subsidiaries amounted to 6 percent in constant currency. EBITA grew by 9 percent.
Mölnlycke grew 3 percent organically in constant currency, while EBITA grew by 10 percent. A EUR 250 m. distribution to Patricia Industries was made.
The acquisitions of the new subsidiaries Piab and Sarnova were closed. Piab and Sarnova grew organically by 10 percent and 8 percent respectively in constant currency.
The value of Investor’s investments in EQT increased by 9 percent in constant currency. Net cash flow to Investor amounted to SEK -705 m.
Interim Management Statement January-March 2018
Highlights
Adjusted net asset value*, based on estimated market values for the major wholly-owned subsidiaries and partner-owned investments within Patricia Industries, amounted to SEK 383,027 m. (SEK 501 per share) on March 31, 2018, a decrease of SEK 1,720 m., or 0 percent, during the quarter.
Reported net asset value1)* amounted to SEK 342,575 m. (SEK 448 per share) on March 31, 2018, an increase of SEK 6,312 m., or 2 percent, during the quarter.
Listed Core Investments generated a total return* of 1 percent.
Within Listed Core Investments, shares in Ericsson were purchased for SEK 1,002 m., strengthening our ownership to 7.2 and 22.5 percent of the capital and votes respectively.
Within Patricia Industries, organic sales growth for the major wholly-owned subsidiaries amounted to 4 percent in constant currency. Mölnlycke grew 2 percent organically in constant currency, with improved profitability.
Patricia Industries agreed to acquire Sarnova, a leading U.S. healthcare products specialty distributor. Upon closing on April 4, 2018, Patricia Industries paid USD 513 m. for 86 percent ownership.
The value of Investor’s investments in EQT increased by 3 percent in constant currency. Net cash flow to Investor amounted to SEK 514 m. EQT closed EQT VIII, its largest fund to date, at EUR 10.75 bn. Investor has committed SEK 5.7 bn. to the fund.
Investor AB's 2017 Annual Report now available online
Presentations archive
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Presentation Q4 2016
Presentation Q3 2016 och presentation av Permobil
Presentation Q2 2016
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Strategy and business model
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