Kinnevik: Interim Report 1 January - 31 March 2017

27 Apr 2017, 8:00 AM · Regulatory information

Operating companies' performance

  • Zalando's preliminary numbers for the first quarter showed revenue growth of 22-24% with an EBIT margin of 1-3%
  • Millicom's organic service revenues decline by 2% in the first quarter and the EBITDA margin amounted to 37%
  • Tele2 grew first quarter revenues by 22% and delivered an EBITDA margin of 22%
  • GFG achieved 26% revenue growth for the full year 2016 and an EBITDA margin of -13%
  • MTG reported first quarter organic revenue growth of 8% and an EBIT margin of 4%

Investment management activities

  • Total investments of SEK 195m in the first quarter, whereof
    • SEK 112m (USD 12.5m) for 3.5% in consumer digital healthcare company Livongo
    • SEK 74m (GBP 6.7m) into Babylon
  • Total divestments of SEK 2.1bn, whereof
    • SEK 2.0bn (EUR 207m) from the sale of half of Kinnevik's prior shareholding in Rocket Internet
    • SEK 50m from the divestment of Metro Sweden
  • On 27 April, Kinnevik announced it had agreed to acquire 18.5% in Com Hem for a cash consideration totalling SEK 3.7bn  

Financial position

  • Net Asset Value of SEK 79.5bn (SEK 289 per share), up 10% or SEK 7.1bn in the quarter, led by a SEK 7.3bn, or 12%, increase in the value of the listed investee companies, of which Millicom SEK 4.1bn and Tele2 SEK 1.9bn
  • Net cash position of SEK 0.4bn at the end of the quarter
  • Bond issue of SEK 1.0bn within newly established SEK 4.0bn MTN Program


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 27 April 2017.

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

Torun Litzén, Director Investor Relations

Phone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build the digital consumer businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, invest in and lead fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building well governed companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families.