Strong quarterly revenue growth across our Swedish public companies.
- Millicom: +9% (total organic).
- Tele2: +8% (mobile end-user service, total organic +1%).
- MTG: +12% (total at constant exchange rates).
- CDON: +21% (total excluding divested operations).
Two successful transactions concluded on the Frankfurt Stock Exchange despite volatile market conditions.
- Zalando IPO: pre-money valuation of EUR 4.9bln versus EUR 3.9bln in Kinnevik's NAV as of Q2.
- Rocket Internet IPO: pre-money valuation of EUR 5.1bln versus EUR 0.8bln in Kinnevik's NAV as of Q2.
Adverse market conditions and uncertainty in Russia's regulatory environment impact our media holdings.
- MTG's Russian pay TV channels impacted by new advertisement regulations.
- Change in mass media law to limit foreign ownership in CTC to 20% post December 31, 2015.
Overall strong growth in Net Asset Value.
- Up 12% (SEK 8.1bln) in the third quarter.
- Up 17% (SEK 11.1bln) in the first nine months, up 14% (SEK 9.0bln) year-to-date 23 October.
Kinnevik team focused on driving operational performance to build a select number of leading digital consumer brands.