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Kinnevik: Interim Report 1 January - 31 March 2015

23 April 2015, 8:02 AM

Operating Companies' Performance

  • Communication companies: Millicom's organic revenue growth in local currencies at 10% and Tele2's mobile end-user service revenue up 10% (including positive currency effects)
  • Fashion e-commerce: Zalando's preliminary sales up 27-29% with an EBIT margin of 4-6%
  • Rocket Internet: Consolidating food delivery market and launching new business models
  • Marketplaces: Avito, Quikr and Saltside migrating towards "Augmented Marketplaces"

Kinnevik Investment Activity

  • Investments focused on existing companies:

                             - Quikr USD 40m (SEK 346m)
                             - Westwing EUR 20m (SEK 186m)
                             - Saltside USD 5m (SEK 41 m)

  • Divestment of a 24.5% stake in Transcom for SEK 421m
  • Net investments during the first quarter SEK 173m (versus full-year guidance of up to SEK 1.0bln)

Kinnevik Financial Position

  • Net asset value of SEK 84bln or SEK 303 per share, stable compared to year-end 2014
  • Strong balance sheet, net debt of SEK 0.1bln in the parent company
  • Share price up 13% in the quarter, discount to net asset value at 5% at quarter-end
Press release

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire