Interim Report January-June 2013

Highlights during the second quarter

• Net asset value amounted to SEK 182.7 bn. (SEK 240 per share) on June 30, 2013, a decrease by SEK 8.3 bn., (SEK 11 per share) during the quarter, partially driven by Investor’s dividend of SEK 5.3 bn. (SEK 7 per share) being paid out. With Gambro valued at the transaction value, net asset value would have amounted to SEK 186.7 bn. (SEK 245 per share).
• The acquisition of Permobil was completed, and the company is now a subsidiary within Investor’s Core Investments. Investor invested SEK 3.7 bn. in equity.

Financial information

• Net asset value amounted to SEK 182,699 m. (SEK 240 per share) on June 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 8 percent (2) during the first six months period. The Stockholm Stock Exchange’s Total Return Index (SIXRX) was 9 percent during the same period (7). Over the past 20 years, annual net asset value growth, with dividend added back, has been 15 percent.
• Consolidated net profit for the period, which includes unrealized change in value, was SEK 12,715 m. (SEK 16.71 per share), compared to SEK 3,924 m. (SEK 5.19 per share) for the same period 2012.
• Core Investments contributed SEK 12,186 m. to net asset value for the period (2,069), of which the listed SEK 11,381 m. (2,783).
• Financial Investments contributed SEK 1,832 m. to net asset value for the period (1,720).
• Leverage (net debt/total assets) was 13.4 percent as of June 30, 2013 (11.5).
• The total return on the Investor share was 10 percent during the period (7), of which -1 percent during the second quarter (-6). The total annual return on the Investor share averaged 11 percent over the past 5-year period, 16 percent over the past 10-year period and 14 percent over the past 20-year period.