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.
With a portfolio of leading companies, strong financials, and a dedicated, hard-working team, I am convinced that Investor is in a great position to continue its prosperous voyage.
Christian CederholmPresident & CEO of Investor
Highlights
Adjusted net asset value (NAV) amounted to SEK 969.8bn (SEK 317 per share) on December 31, 2024, a change of SEK -16.5bn, or -2 percent, with dividend added back, during the quarter. Total shareholder return amounted to -6 percent, compared to -6 percent for the SIXRX return index. For 2024, adjusted net asset value growth amounted to 20 percent and total shareholder return to 27 percent, compared to 9 percent for the SIXRX.
Listed Companies generated a total return of -4 percent. For 2024, the total return amounted to 18 percent.
Based on estimated market values, the total return for Patricia Industries, including cash, amounted to 6 percent (7 percent excluding cash), primarily driven by positive currency impact and earnings growth, partly offset by lower multiples. For 2024, the total return amounted to 30 percent (32 percent excluding cash).
Within Patricia Industries, sales growth for the major subsidiaries amounted to 5 percent, of which 3 percent organically in constant currency. Reported EBITA grew 12 percent and adjusted EBITA 11 percent.
Mölnlycke reported organic sales growth of 8 percent in constant currency, with the largest business area Wound Care growing 10 percent. The profit margin increased. Mölnlycke distributed EUR 300m to Patricia Industries.
The value change of Investments in EQT was -5 percent. Net cash flow to Investor amounted to SEK 910m. For 2024, the value change amounted to 8 percent and the net cash flow to Investor was SEK 252m.
Leverage was 1.2 percent as of December 31, 2024 (1.7 percent as of December 31, 2023). Gross cash amounted to SEK 27,947m and the average maturity of Investor AB’s debt portfolio was 9.8 years.
The Board of Directors proposes a dividend per share of SEK 5.20 (4.80) to be paid in two installments, SEK 3.75 in May, 2025, and SEK 1.45 in November, 2025.
Amid all the unpredictability, one thing remains perfectly clear: competition is fierce, requiring our companies, and ourselves, to constantly focus on efficiency and agility.
Christian CederholmPresident & CEO of Investor
Highlights
Adjusted net asset value (NAV) amounted to SEK 986.3bn (SEK 322 per share) on September 30, 2024, an increase of SEK 16.9bn, or 2 percent, during the quarter. Total shareholder return amounted to 8 percent, compared to 4 percent for the SIXRX return index.
Listed Companies generated a total return of 1 percent.
Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to 3 percent (3 percent including cash), mainly driven by earnings growth, partly offset by negative currency impact.
Within Patricia Industries, sales growth for the major subsidiaries amounted to 5 percent, of which 7 percent organically in constant currency. Reported EBITA grew 6 percent and adjusted EBITA 8 percent.
Mölnlycke reported organic sales growth of 9 percent in constant currency, with the largest business area Wound Care also growing 9 percent. The profit margin was essentially unchanged.
Piab Group completed strategic add-on acquisitions for a total value of SEK 1.9bn on a cash- and debt-free basis. Patricia Industries invested SEK 1.2bn in Piab Group to support the acquisitions.
The value change of Investments in EQT was 7 percent. Net cash flow to Investor amounted to SEK 352m.
Leverage was 1.4 percent as of September 30, 2024 (1.7 percent as of December 31, 2023). Gross cash amounted to SEK 25,433m and the average maturity of Investor AB's debt portfolio was 10.1 years.
Interim Report January-June 2024
Our goal remains to generate attractive total shareholder returns by growing our net asset value, paying a steadily rising dividend and delivering on our ESG targets. To succeed, we focus relentlessly on performance, portfolio and people.
Christian CederholmPresident & CEO of Investor
Highlights
Adjusted net asset value (NAV) amounted to SEK 969.4bn (SEK 317 per share) on June 30, 2024, an increase of SEK 69.0bn, or 8 percent, with dividend added back, during the quarter. Total shareholder return amounted to 9 percent, compared to 2 percent for the SIXRX return index.
Listed Companies generated a total return of 11 percent. We invested SEK 2.8bn in Ericsson.
Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to 2 percent (2 percent including cash), driven by earnings growth.
Within Patricia Industries, sales growth for the major subsidiaries amounted to 9 percent, of which 7 percent organically in constant currency. Reported EBITA grew 7 percent and adjusted EBITA grew 10 percent.
Mölnlycke reported organic sales growth of 8 percent in constant currency, with the largest business area Wound Care also growing 8 percent. The profit margin was unchanged.
Sarnova and BraunAbility completed strategic add-on acquisitions for a total enterprise value of SEK 5.6bn. All acquisitions were financed by each respective company. Mölnlycke and Permobil distributed EUR 200m and SEK 600m respectively to Patricia Industries.
The value change of Investments in EQT was -4 percent. Net cash flow to Investor amounted to SEK -5m.
Leverage was 1.4 percent as of June 30, 2024 (1.7 percent as of December 31, 2023). Gross cash amounted to SEK 25,510m and the average maturity of Investor AB’s debt portfolio was 10.3 years.
Interim Management Statement January-March 2024
The year has started on a strong note. Our adjusted net asset value reached SEK 915bn, an increase of 12 percent during the quarter, with all three business areas contributing strongly. With value creation as our North Star, we continue to support our companies in their efforts to future proof operations and customer offerings.
Johan ForssellPresident & CEO of Investor
Highlights
Adjusted net asset value (NAV) amounted to SEK 915,109m (SEK 299 per share) on March 31, 2024, an increase of SEK 96,723m, or 12 percent, during the quarter. Total shareholder return amounted to 15 percent, compared to 8 percent for the SIXRX return index.
Listed Companies generated a total return of 10 percent.
Based on estimated market values, the total return for Patricia Industries, excluding cash, amounted to 18 percent (17 percent including cash). Multiple expansion, earnings growth and currency contributed positively.
Within Patricia Industries, sales growth for the major subsidiaries amounted to 7 percent, of which 7 percent organically in constant currency. Reported and adjusted EBITA grew 10 percent.
Mölnlycke reported organic sales growth of 5 percent in constant currency, with the largest business area Wound Care growing 6 percent. The profit margin improved.
The value change of Investments in EQT was 12 percent. Net cash flow to Investor amounted to SEK -1,005m.
Leverage was 0.8 percent as of March 31, 2024 (1.7 percent as of December 31, 2023). Gross cash amounted to SEK 32,381m and the average maturity of Investor AB's debt portfolio was 10.6 years on March 31, 2024.
Presentations archive
Date
Title
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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
Learn more about our ownership philosophy, our strategic pillars and how we create long-term value.
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