Kinnevik: Interim Report 2007 1 January - 31 March
26 Apr 2007, 8:34 AM
The market value of the Group's holdings of listed securities increased during the first quarter by 16%, corresponding to SEK 5,961 million. On 31 March 2007, the market value of the listed share portfolio was SEK 43,162 million.
Korsnäs Industrial's revenues amounted to SEK 1,715 million, an increase by 8% compared to SEK 1,590 million pro forma including Frövi for the the first quarter last year.
Operating profit for Korsnäs Industrial amounted to SEK 214 million compared to SEK 235 million pro forma for the first quarter 2006.
The Group's total revenue amounted to SEK 1,957 million (1,245) and operating profit for the first quarter was SEK 290 million (140).
Profit after tax, including fair-value changes of financial assets, amounted to SEK 6,107 million (7,353).
The profit per share was SEK 23.13 (27.88).
Kinnevik has earlier today announced that it has entered into an agreement with a wholly owned Swedish subsidiary to the Icelandic investment company Milestone ehf. ("Milestone") to sell all its shares in Invik & Co. AB (publ) ("Invik") for a total consideration of SEK 1,088,843,230, corresponding to SEK 253 for each class A share and SEK 230 for each class B share. The sale is conditional on Milestone obtaining approvals from the relevant financial supervisory authorities. Kinnevik's agreement with Milestone includes that Milestone already today announces a voluntary offer for all outstanding shares and other financial instruments in Invik and hence all Invik's shareholders are offered to sell their shares at the same price as Kinnevik.
The full report with tables can be downloaded from the following link: