Investment AB Kinnevik: Interim management statement 1 January - 31 March 2014
- 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.
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Source: Kinnevik via Globenewswire