Kinnevik: Interim report 1 January - 30 June 2016

22 Jul 2016, 8:00 AM · Regulatory information


Portfolio companies' performance

  • Zalando's second quarter preliminary revenues grew 24-26% with an EBIT margin of 7.5-9.5%
  • Millicom's organic service revenue up 2% with an adjusted EBITDA margin of 36%
  • Tele2 net sales up 1% with an EBITDA margin of 16%
  • MTG reported sales growth of 4% to SEK 4,328m with a stable EBIT margin

             

Kinnevik investment activities

  • Total investments of SEK 534m in the second quarter, all into existing companies
  • EUR 50m second tranche of pre-funding of Global Fashion Group during the second quarter. Total funding round, agreed on 7 July, upsized from EUR 300m to 330m due to strong shareholder interest, with Kinnevik's final participation amounting to EUR 161m
  • Divestment of 3.8% stake in Lazada to Alibaba for USD 57m completed in April
  • Announcement by Tele2 of a rights issue of approximately SEK 3bn to finance the acquisition of TDC Sweden with expected completion in the fourth quarter of 2016. Kinnevik has committed to subscribe to its pro rata share corresponding to approximately SEK 900m

             

Kinnevik financial position

  • Net Asset Value of SEK 64.6bn (SEK 235 per share), down 1.7% or SEK 1.1bn pro forma for dividends paid, driven by:
    • 1% or SEK 0.8bn decrease in value of the listed investee companies, adjusted for dividends received
    • 2% or SEK 0.3bn decrease in value of the unlisted investee companies
  • Net cash position of SEK 0.4bn at the end of the quarter
  • SEK 7.1bn returned to shareholders in Q2 (ordinary dividend of SEK 7.75 per share and redemption program of SEK 18 per share)
  • New five-year credit facility amounting to SEK 3bn agreed in July

This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on 22 July 2016.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor RelationsPhone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83

Kinnevik is an entrepreneurial investment group focused on building digital consumer businesses. We work in partnership with talented founders and managers to create, invest in and lead fast growing digital businesses both in developed and developing countries. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.