Investment AB Kinnevik: Interim management statement 1 January - 31 March 2014

28 Apr 2014, 8:00 AM

Highlights  

  • Kinnevik invested USD 39.3m in the leading Indian online classified site Quikr.
  • Kinnevik invested USD 9.7m in Milvik/Bima in a funding round with existing investors amounting to USD 22m.
  • Revenues in Avito increased by 167% to USD 73.7m for the full year 2013 with an EBITDA margin of 28%.
  • Kinnevik CEO Mia Brunell Livfors informed the Board of her intention to step down as CEO. The Board has appointed Lorenzo Grabau as CEO of Kinnevik from 1 May 2014.

Financial results for the first quarter

  • The net asset value increased during the quarter by SEK 656m, and amounted to SEK 66,183m at the end of March, corresponding to SEK 238.66 per share.
  • Out of the increase in net asset value, SEK 977m consisted of an increase in fair value of listed holdings and a negative SEK 111m change in fair value of unlisted holdings.
  • Profit per share amounted to SEK 2.50 (loss of 5.83).
  • New investments amounted to SEK 469m, of which SEK 382m into E-commerce & Marketplaces.
  • Zalando's trading update for the first quarter will be reported separately by Zalando and Kinnevik on 9 May, 2014.